2012-02-08 18:01:37 CET

2012-02-08 18:02:20 CET


REGULATED INFORMATION

English
Össur hf. - Financial Statement Release

Össur - 2011 Full Year Report 


STRONG SALES GROWTH

Sales - Sales growth was strong, 9% measured in local currency. Total sales
amounted to USD 401 million compared to USD 359 million in 2010. All markets and
product segments contribute to the growth. Bracing and supports showed excellent
growth, closing the year with 15% growth, measured in local currency. Sales
growth in prosthetics was moderate, 4% measured in local currency.

Profitability - EBITDA amounted to USD 76 million or 19% of sales and gross
profit amounted to USD 249 million or 62% of sales. Net profit amounted to USD
37 million or 9% of sales.

Jón Sigurðsson, President & CEO, comments:"2011 was yet another successful year for Össur with strong growth and good
profits. Innovation continues to be a key element driving growth, with all
segments and markets contributing. Among major milestones in 2011 was the
opening of our new manufacturing facility in Mexico, strengthening our
manufacturing capabilities and offering new opportunities. Another milestone was
the introduction of our latest addition to the Company's comprehensive Bionic
platform, the SYMBIONIC LEG, the first complete bionic leg on the market today.

Highlights of the year:

  * Investing in sales coverage - Investment in increased sales coverage has
    been one of the main growth drivers in 2011. In Americas focus has been on
    continuous investments in sales channel access which has had  a positive
    impact on sales in Americas. In EMEA the main focus has been on Germany and
    France. In France special focus has been on reaching out to prescribers for
    both the bracing and supports and compression therapy segments.
  * Mexico facility - The Mexico facility in Tijuana was officially opened in
    September. Össur started to build up the Mexico facility in September 2010
    and has since then transferred manufacturing of a number of product lines
    from the US to Mexico. The Mexico facility is already one of the largest and
    most important manufacturing units of the Company. Capacity in the facility
    can be increased in the coming years to support future growth. Impact from
    cost savings, amounting to USD 4 million, is expected to materialize in
    2012.
  * Steady flow of new products - During the year 25 new products were launched
    with a healthy mix between bracing and supports products and prosthetics. In
    the bracing and supports arena, some exciting new products were introduced
    during the year. A highlight in the prosthetics segment in 2011 was a
    introduction of the SYMBIONIC LEG, the latest addition to the Company's
    bionic product segment. SYMBIONIC LEG is the first complete bionic leg on
    the market.
Guidance 2012 - Management estimates LCY organic sales growth for 2012 to be in
the range of 4-6%. Adjusted EBITDA margin is estimated to be in the range of
20-21% of sales for the year.

Conference call tomorrow 9 February at 12:00 CET/ 11:00 GMT/ 6:00 EST

Thursday 9 February Jón Sigurðsson, President and CEO, and Hjörleifur Pálsson,
CFO, will host a conference call presenting and discussing the results of the
fourth quarter and the full year of 2011. The conference call will be conducted
in English and can be heard on Össur's website: www.ossur.com

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

Jón Sigurðsson, President & CEO          Tel:+354- 515-1300

Hjörleifur Pálsson, fjármálastjóri       Tel: +354-515-1300

Sigurborg Arnarsdóttir, fjárfestatengill Tel: +354-664-1044




[HUG#1583873]