Ossur hf.: Q1 Results 2015
(Thomson Reuters ONE) -
Q1 2015 Highlights
* Sales amounted to USD 114 million compared to USD 121 million in Q1 2014,
corresponding to local currency growth of 5% and 4% organic growth.
* Bracing and supports sales growth was 3% and 3% organic, both measured in
local currency.
* Prosthetics sales growth was 9% and 6% organic, both measured in local
currency.
* Gross profit amounted to USD 71 million and 63% of sales, compared to USD
76 million and 63% of sales in Q1 2014.
* EBITDA increased by 3% and amounted to USD 21 million or 18% of sales,
compared to USD 20 million or 17% of sales in Q1 2014. EBITDA grew by 12% in
local currency.
* Net profit decreased by 21% and amounted to USD 9 million or 8% of sales,
compared to USD 11 million or 9% of sales in Q1 2014.
* USD strengthening has had a significant impact on reported sales and
profits, negatively impacting sales by USD 13 million and EBITDA by USD 2
million.
* Cash generation in the first quarter of the year is seasonally weak and cash
generated by operations amounted to USD 7 million or 6% of sales, compared
to USD 12 million or 10% of sales in Q1 2014.
* Dividends of USD 7.5 million (DKK 0.12 per share), corresponding to
approximately 14% of the Company's net profit in 2014, were paid at the end
of March 2015.
* Registration of the share capital reduction of the Company of 7,456,755
shares with a nominal value of ISK 1 each was completed on 15 April 2015.
Financial Guidance for 2015
The financial guidance for the full year of 2015 is reiterated as follows:
* 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 in the range of 2.5-3.5% of sales.
* Effective tax rate around 26%.
Jón Sigurðsson, President & CEO, comments:
"The results of this quarter are in line with our expectations. We delivered
strong operational results with good profitability, despite adverse currency
fluctuations and the first quarter being seasonally weak for us. Prosthetics
sales growth was excellent across all of our major markets and product lines.
Sales growth in bracing and supports was in line with expectations. Our
continued focus on selling high-end innovative products is contributing nicely
to improved product mix and increased profitability."
Conference Call
Össur will host a conference call on Thursday 30(th) April 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
Q1 2015 Investor Presentation:
http://hugin.info/133773/R/1916872/685581.pdf
Q1 2015 Company Announcement:
http://hugin.info/133773/R/1916872/685580.pdf
This announcement is distributed by GlobeNewswire on behalf of
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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 GlobeNewswire
[HUG#1916872]
Unternehmensinformation / Kurzprofil:
Datum: 29.04.2015 - 22:00 Uhr
Sprache: Deutsch
News-ID 389671
Anzahl Zeichen: 3954
contact information:
Town:
Reykjavik
Kategorie:
Business News
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