Ossur Hf : Q3 Results 2016
(Thomson Reuters ONE) -
Announcement from Össur hf. No. 88/2016
Reykjavík, 26 October 2016
ÖSSUR Q3 RESULTS 2016
Highlights Q3 2016
* Sales amounted to USD 129 million compared to USD 117 million in Q3 2015,
corresponding to local currency growth of 11% and 5% organic growth.
* Gross profit amounted to USD 81 million or 63% of sales, compared to USD 74
million or 63% of sales in Q3 2015.
* EBITDA amounted to USD 24 million or 19% of sales compared to USD 25 million
or 22% of sales in Q3 2015.
* Net profit amounted to USD 13 million or 10% of sales, compared to USD 14
million or 12% of sales in Q3 2015.
* Cash generated by operations amounted to USD 27 million or 21% of sales,
compared to USD 23 million or 20% of sales in Q3 2015.
* On September 1, Össur acquired Medi Prosthetics. The income statement for Q3
2016 therefore includes Medi Prosthetics for the month of September only.
* Össur acquired 301,621 of own shares in Q3 2016 for approximately USD 1.2
million.
Financial Guidance for 2016
We are revising the financial guidance for the full year of 2016. Due to recent
acquisitions we are upgrading sales growth measured in local currency from the
range of 7-9% to the range of 8-10%. Adjusted EBITDA margin is now expected to
be approximately 19%. The downwards revision of the EBITDA margin is mainly due
to adverse currency movements, specifically the strengthening of the ISK, and
impact from the Medi Prosthetics acquisition which is expected to be temporary
while the acquired business is being integrated and synergies realized. The
revised guidance is as follows:
* Sales growth LCY in the range of 8-10% (previously 7-9%)
* Organic sales growth LCY in the range of 3-5% (unchanged)
* Adjusted EBITDA margin around 19% of sales (previously 20-21%)
* Capital expenditures 5% of sales (unchanged)
* Effective tax rate around 26% (unchanged)
Jon Sigurdsson, President & CEO, comments:
"The sales growth in the quarter was good. Prosthetics growth was excellent,
driven by bionics and newly launched products. In September we acquired Medi
Prosthetics. Medi Prosthetics is a global provider of mechanical limb prosthetic
components. This acquisition enables us to take another step to complete our
prosthetics offering and further strengthen our global market position. Due to
adverse currency movements, mainly the strengthening of the ISK, and temporary
impact from the Medi Prosthetics acquisition we have revised our guidance for
the full year."
Conference Call
Össur will host a conference call on Thursday October 27 2016 at 9:00 CET/ 7:00
GMT/ 3:00 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
Company announcement Össur hf 30.9.2016:
http://hugin.info/133773/R/2051852/767776.pdf
2016 Q3 Investor Presentation:
http://hugin.info/133773/R/2051852/767775.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ossur Hf via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 26.10.2016 - 22:00 Uhr
Sprache: Deutsch
News-ID 503091
Anzahl Zeichen: 3812
contact information:
Town:
Reykjavik
Kategorie:
Business News
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