2015-07-23 22:00:00 CEST

2015-07-23 22:00:41 CEST


SÄÄNNELTY TIETO

Englanti
Össur hf. - Financial Statement Release

Ossur Hf : Q2 Results 2015 


Announcement from Össur hf. no: 27/2015
Highlights Q2 2015
  * Sales amounted to USD 127 million, corresponding to local currency growth of
    8% and 7% organic growth.
  * Bracing and supports sales growth was 8% and 8% organic, both measured in
    local currency
  * Prosthetics sales growth was 10% and 7% organic, both measured in local
    currency.
  * Gross profit amounted to USD 80 million and 63% of sales, compared to USD
    85 million and 64% of sales in Q2 2014.
  * EBITDA amounted to USD 27 million or 21% of sales. Adjusted EBITDA amounted
    to USD 28 million or 22% of sales, compared to USD 29 million or 22% of
    sales in Q2 2014. Adjusted EBITDA grew by 7% in local currency.
  * Net profit amounted to USD 16 million or 12% of sales, compared to USD 17
    million or 13% of sales in Q22014.
  * USD strengthening has had a significant impact on reported sales and profits
    when comparing to prior year results. Negatively impacting sales by USD 13
    million and EBITDA by USD 2 million.
  * Cash generated by operations amounted to USD 23 million or 18% of sales,
    compared to USD 24 million or 18% of sales in Q2 2014.

Financial Guidance for 2015
The financial guidance for the full year of 2015 is unchanged except for capital
expenditures.
  *  Total sales growth LCY in the range of 4-6%.
  * Organic sales growth LCY in the range of 3-5%.
  * EBITDA margin in the range of 20-21% of sales.
  * Capital expenditures 3.5-4.5% of sales (previously 2.5-3.5%).
  * Effective tax rate around 26%.




Jón Sigurðsson, President & CEO, comments:"The results of this quarter are good. Strong growth and good profitability
despite adverse impact from currency fluctuations. Prosthetics continue to
perform well in all of our major markets and sales growth in bracing and
supports was excellent in the quarter, driven by very strong performance in
EMEA. At our Capital Markets Day in Copenhagen in May we proudly announced
breakthrough technology by demonstrating innovation that allows users of Össur
Bionic devices to control movement of the device with their thoughts. Although
the commercialization of this technology is out in the future, this
technological breakthrough demonstrates our ability to innovate and commitment
to advancing the technology in the Prosthetics field."
Conference Call
Össur will host a conference call on Friday 24th July 2015 at 10:00 CET/ 8:00
GMT/ 4:00 EDT.
To participate in the call please dial:
Europe: + 45 3544 5580, +44 (0) 203 364 5374 or +46 (0) 8 505 564 74
The United States: + 1 855 753 2230
Iceland: +354 800 7417 

[HUG#1940981]