Össur - Presentation of Q3 2023
This morning, Össur released its Q3 2023 results, Össur realized 7% organic growth in Q3 2023 and 9% for the first 9 months of 2023. Growth in the quarter was primarily driven by the sales in prosthetics and patient care, and regionally by the Americas and EMEA. The company realized an EBITDA margin of 18% year-to-date, which is the same level as in 2022. Compared to analyst expectations for the quarter, sales are marginally below, while operating earnings are slightly better than expected.
The company's net interest-bearing debt relative to EBITDA ends at 2.9x, marginally below its target level of 2-3x. Share buybacks remain on pause.
The 2023 guidance was revised upwards earlier this year and is maintained in connection with the Q3 reporting. Organic growth is expected to be at 7-8% (9% for the first 9 months) and the EBITDA margin is expected at the level of 17-20% (18% for the first 9 months). Today, we together with, Össur’s management, went through the results and the expectations for the rest of the year and gave a short introduction to the company.
Össur is a leading global provider of innovative mobility solutions in the medical technology space. Össur improves people’s mobility through the delivery of Prosthetics, Bracing & Supports, and accompanying patient care. Headquartered in Iceland, the company employs over 4,000 people located across 36 countries worldwide. Össur has extensive operations in the Americas, Europe, and Asia, as well as distributors in other markets.
HC Andersen Capital receives payment from Össur for a Corporate Visibility/Digital IR subscription agreement. /Michael Friis, 15:00, 24 October 2023.
