Smith & Nephew : Ongoing pressure from Orthopaedics, unexpected change of CEO
>Q4 slightly below expectations - FY 2022 revenues of $ 5,212m (+14.5% y-o-y) were in line with ODDO BHF’s and the consensuas’ expectations. The underlying growth was 10.3%. External growth was 190bp and the forex environment provided a tailwind of 210bp. FY trading profit reached $ 936m (-4%/-1% vs ODDO BHF/consensus), which corresponds to a trading margin of 18.0%. EPSA of $ 0.81 was 1% below expectations. In the last quarter, Orthopaedics achieved revenue...Smith & Nephew is a global medical devices business operating in the markets for advanced surgical devices comprising orthopaedic reconstruction and trauma, sports medicine and advanced wound management. Co.'s advanced medical products and services include: Orthopaedic Reconstruction and Trauma (joint replacement systems for knees and hips and products to help repair broken bones); Advanced Wound Management (treatment and prevention products for hard-to-heal wounds); and Sports Medicine (implants and enabling technologies for minimally invasive repair of the joint).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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