Össur - Full Year Report 2012
(Thomson Reuters ONE) -
2012 results in line with guidance - Q4'12 a record quarter in bionics
Sales - Sales growth for 2012 was 3% measured in local currency, which is in
line with guidance of 2-3%. Total sales amounted to USD 399 million compared to
USD 398 million in 2011. Growth remains good across all segments and key markets
in Europe, while prosthetics in Americas have been affected by adverse market
conditions. Sales growth in prosthetics was 4%, and sales growth for bracing and
supports was 3%, both measured in local currency. The fourth quarter was a
record quarter in bionic sales, accounting for 17% of prosthetics sales.
Profitability - Gross profit margin remains stable. The manufacturing facility
in Mexico is contributing as well as other lean initiatives within manufacturing
and operations. The slow prosthetic sales in Americas affects the gross profit
margin negatively. Gross profit amounted to USD 248 million or 62%, the same
ratio as in 2011. EBITDA amounted to USD 70 million corresponding to a margin of
18%, which is in line with guidance of 18-19%.
Net profit increased by 9% in 2012, and amounted to USD 38 million, compared to
USD 35 million in 2011.
Össur's cash flow continues to be strong and cash flow from operations was 18%
of sales in 2012, up from 17% in 2011.
Through consistent profitability and strong cash flows, Össur has built up a
strong balance sheet. The Company is now in a position to return capital to
shareholders. The Board of Directors will thus propose a new dividend policy to
the shareholders at the Annual General Meeting.
Jón Sigurðsson, President & CEO, comments:
""This year has been yet another strong year in EMEA while it has been
challenging in the US due to adverse market conditions. The fourth quarter was a
record quarter in bionic sales and prosthetics sales in EMEA have been very
strong during the year. Despite turbulence in the reimbursement systems in the
US we experience the acceptance of our high-end solutions. One of our most
advanced bionic products, POWER KNEE, was accepted into the reimbursement system
in the US as of 1 January 2013. We are pleased to see the continued demand for
high-end and quality solutions based on clinical and a health economical
outcome".
Amputees make history - In 2012 Oscar Pistorius made history when he became the
first amputee to participate in the Olympics, competing against able body
athletes. Oscar who is often called "Blade Runner",competes on Össur's Flex-Foot
Cheetah prosthetic legs. Again at the Paralympics disabled athletes inspired
people all around the world and took one step closer to change the perception of
what people with disability can accomplish.
New products - During the year, 29 products were launched with a healthy mix
between bracing and supports and prosthetics. Within bracing and supports, focus
has been on further establishing and broadening successful product segments such
as the Unloader One, treating knee osteoarthritis, spinal support products and
the Rebound Walker. In prosthetics the highlight of the year was SYMBIONIC LEG,
the first complete bionic leg. SYMBIONIC LEG has been successful and received
positive feedback from users. Other major projects in prosthetics include the
Balance line which is primarily for elderly users and people with low activity
level.
Mexico - This year is the first full year of operation in the Mexico facility
which opened in September 2011. The transfer of products previously manufactured
in other Össur locations to the Mexico facility has been successful and without
any major complications. The facility is well equipped and will continue to
strengthen Össur's manufacturing capabilities.
Guidance 2013 - Management estimates LCY organic sales growth for 2013 to be in
the range of 2-4%. EBITDA margin is estimated to be in the range of 18-19% of
sales for the year.
Conference call tomorrow 7 February at 12:00 CET/ 11:00 GMT/ 6:00 EST
Tomorrow, Thursday 7 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 2012. 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) 1452 555131 or + 46(0)8 506 307 79
The United States: + 1 866 682 8490
Iceland: 800 9300
Ossur Press Release Q4 2012 English:
http://hugin.info/133773/R/1676045/546121.pdf
Q4 2012 Investor Presentation:
http://hugin.info/133773/R/1676045/546122.pdf
Ossur financial statement 31.12.2012:
http://hugin.info/133773/R/1676045/546123.pdf
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ossur Hf via Thomson Reuters ONE
[HUG#1676045]
Unternehmensinformation / Kurzprofil:
Datum: 06.02.2013 - 16:02 Uhr
Sprache: Deutsch
News-ID 226987
Anzahl Zeichen: 5865
contact information:
Town:
Reykjavik
Kategorie:
Business News
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