MODERATE SALES GROWTH
Sales - Sales growth was moderate, 3% measured in local currency. Total sales
amounted to USD 103 million compared to USD 105 million in the second quarter of
2011. Sales growth for bracing and supports was moderate or 4%, measured in
local currency. Sales growth in prosthetics was flat or 1%, measured in local
Profitability - Net profit amounted to USD 10 million or 10% of sales. EBITDA
amounted to USD 19 million or 19% of sales and gross profit amounted to USD 64
million or 62% of sales.
JÃ³n SigurÃ°sson, President & CEO, comments:
"We are pleased to announce that the SYMBIONIC LEG, introduced last year is now
available in all main markets. The introduction has been successful and feedback
from users very positive. Sales growth in the second quarter was moderate.
Overall performance is affected by weak prosthetics sales in Americas.
Conservative sentiment in the US prosthetics market, due to audits from the
reimbursement systems, continues to affect customer behavior. Performance in
other major markets is however good, especially for prosthetics in EMEA and in
Asia where we had excellent growth in the quarter."
Full commercial launch of SYMBIONIC LEG - The SYMBIONIC LEG, the latest addition
to Ã–ssur's Bionic Platform, is now available in all main markets. The SYMBIONIC
LEG unites the proven capabilities of RHEO KNEE and PROPRIO FOOT into a single
integrated unit offering unprecedented functionality for above knee amputees.
This revolutionary new product is the first of its kind in the world.
Oscar Pistorius selected for the South African national athletics team - The
South African sprinter Oscar Pistorius is the first amputee sprinter to be
selected to compete among able-bodied athletes on the world stage. Often called
"Blade Runner", Oscar competes on Ã–ssur's Flex-Foot Cheetah prosthetic legs and
has been selected to compete in the individual men's 400m and 4x400m relay on
behalf of Team South Africa.
Global Marketing - To increase Ã–ssur's competitive edge in a changing market
more focus will be on effectively communicating the outcomes of Ã–ssur's
solutions. To facilitate this and further add value to Ã–ssur's customer
experience a global marketing division has been established that will function
across divisions and geographical locations.
Guidance 2012 - The guidance for the full year of 2012 is organic LCY sales
growth in the range of 4-6% and adjusted EBITDA margin in the range of 20-21% of
sales.Â However, due to current negative sentiment in the Americas prosthetic
market and slowdown in prosthetics sales in the region, management expects the
results of 2012 to be in the lower end of the guided range, both in terms of
sales and EBITDA.
Conference call tomorrow 26 July at 12:00 CET/ 10:00 GMT/ 6:00 EST
Tomorrow, Thursday 26 July JÃ³n SigurÃ°sson, President and CEO, and HjÃ¶rleifur
PÃ¡lsson, CFO, will host a conference call presenting and discussing the results
of the second quarter of 2012. The conference call will be conducted in English
and can be heard on Ã–ssur's website: www.ossur.com
To participate in the meeting please call one of the following telephone
Europe: +44 (0)20Â 3043 2436 or +46 (0)8 505 598 53
The United States: +1 866 458 40 87
Iceland: 800 8660
Ossur financial statement 30.06.2012 :
Ossur Press Release Q2 2012 English:
Q2 2012 Investor Presentation :
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Source: Ossur Hf via Thomson Reuters ONE