Announcement from Össur hf. No. 88/2016
Reykjavík, 26 October 2016
ÖSSUR Q3 RESULTS 2016
Highlights Q3 2016
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:
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."
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
Last updated on: 27/10/2016
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