2010-07-27 06:00:00 CEST

2010-07-27 06:01:36 CEST


REGULATED INFORMATION

English
Össur hf. - Half Year financial report

Össur - Second Quarter Report 2010 


                                              Announcement Össur hf. No. 19/2010

                                                         Reykjavik, 27 July 2010





EXCELLENT SALES GROWTH



Sales  - Sales growth in the second quarter was very good, 12% measured in local
currency.  Total sales amounted to USD  90 million compared to USD 81 million in
the  second  quarter  of  2009. Both  major  product  segments show double digit
growth,   prosthetics  15% and  bracing  and  supports  11%, measured  in  local
currency.



Profitability  - Profits remain strong and  EBITDA amounted to USD 20 million or
22% of  sales  and  gross  profit  amounted  to  USD 56 million or 62% of sales.
Overall  margins remain  stable and  increased profits  are driven by good sales
growth.  Net profit amounted to USD 14 million compared to USD 2 million for the
same  period in 2009. Net profit is  significantly impacted by positive exchange
gains flowing through financial items.



Jon Sigurdsson, President & CEO, comments:"Overall performance in the second quarter was strong across all markets, and
main product segments delivered double digit growth. New product launches in
bracing and supports, in the first half of the year, have created excitement and
are contributing to the growth in the B&S segment. The sales growth in
prosthetics in the quarter is fuelled by good sales across all major product
lines as well as the continued success of the bionic products."



Highlights of the quarter:



  * Good performance in bracing and supports - Sales of bracing and supports
    products were excellent in the Americas in the second quarter. This is the
    second consecutive quarter showing positive results in the Americas and
    sales growing above the market growth. Sales of bracing and supports in EMEA
    grew in line with the market.

  * Growth across all product lines in prosthetics - Sales of prosthetics in
    both the Americas and EMEA continue to perform well and grow above the
    market growth rate. Sales of bionic products accounted for 15% of the
    prosthetics sales in the quarter. More moderate growth is expected in the
    second half of the year.



Guidance - Management estimates LCY organic sales growth will be at the top end,
or  even slightly above the  previously guided range of  4-6% for the full year.
 LCY organic EBITDA growth is expected to be above 10%.




Conference call at 12:00 CET/ 10:00 GMT/ 6:00 EST



Today,  Tuesday 27 July 2010 Jon  Sigurdsson, President and  CEO, and Hjörleifur
Palsson,   CFO,  will  host  a  conference  call  for  investors,  analysts  and
shareholders  presenting and  discussing the  results of  the second  quarter of
2010. The  conference call  will be  conducted in  English and  can be  heard on
Össur's website: www.ossur.com/investors



To  participate  in  the  meeting  please  call  one  of the following telephone
numbers:

Europe: +44 (0)20 3043 2436 or +46 (0)8 505 598 53

The United States: +1 866 458 40 87

Iceland: 800 8660



Further information

Jon Sigurdsson, President & CEO    Tel: +354 515 1300

Hjorleifur Palsson, CFO            Tel: +354 515 1300

Sigurborg Arnarsdottir, IR Manager Tel: +354 664-1044




NOTE: This page only includes the highlights of the quarter. For the full press
release please visit www.ossur.com/investors




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