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2016-07-21

Ossur Hf : Q2 Results 2016

Announcement from Össur hf. No. 71/2016

Reykjavík, 21 July 2016

ÖSSUR Q2 RESULTS 2016

Highlights Q2 2016

* Sales amounted to USD 139 million compared to USD 127 million in Q2 2015,
corresponding to local currency growth of 10% and 5% organic growth.
* Gross profit amounted to USD 89 million or 64% of sales, compared to USD 80
million or 63% of sales in Q2 2015.
* EBITDA amounted to USD 25 million or 18% of sales. Adjusted for one-time
expenses, EBITDA amounted to USD 30 million or 22% of sales compared to USD
28 million or 22% of sales in Q2 2015.
* Net profit amounted to USD 15 million or 10% of sales, compared to USD 16
million or 12% of sales in Q2 2015. Net profit is impacted by one-time
costs of USD 4.6 million. Net profit adjusted for one-time expenses grew
10% and amounted to 13% of sales.
* Cash generated by operations amounted to USD 16 million or 12% of sales,
compared to USD 23 million or 18% of sales in Q2 2015.
* The financial statements for Q2 2016 include the financials of the recently
acquired Touch Bionics.
* Össur acquired 5,325,004 of own shares in Q2 2016 for approximately USD
20.8 million.

Financial Guidance for 2016

The financial guidance for the full year of 2016 is unchanged except for
capital expenditures.

* Sales growth LCY in the range of 7-9%
* Organic sales growth LCY in the range of 3-5%
* Adjusted EBITDA margin in the range of 20-21% of sales
* Capital expenditures 5% of sales (previously 3-4%)
* Effective tax rate around 26%

Jon Sigurdsson, President&CEO, comments:

"We are pleased to deliver a quarter with strong operational results and good
profitability on top of an excellent comparable quarter last year. Americas
had an overall strong quarter with excellent prosthetics sales growth. As we
expected, EMEA had a good quarter after experiencing a soft Q1. Bracing and
supports sales were once again driven by growth of high end innovative
products and prosthetics sales by bionic products as well as newly launched
products. In April we acquired Touch Bionics, a leader in the upper limb
bionic prosthetic market. For the first time we can now offer a complete
bionic portfolio to our customers."

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| Conference Call |
| |
|Össur will host a conference call on Friday 22 July 2016 at9:00 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 |
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Company announcement Össur hf 30.6.2016
http://hugin.info/133773/R/2030043/755021.pdf
2016 Q2 Investor Presentation
http://hugin.info/133773/R/2030043/755038.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX 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

HUG#2030043

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