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2016-02-02

Ossur Hf : Q4&FY Results 2015

Announcement from Össur hf. No. 0
7
/2016

Highlights Full Year 2015

* Sales growth was 5% measured in local currency and sales amounted to USD
483 million.
* Bracing and supports sales growth was 5% and 5% organic, both measured in
local currency.
* Prosthetics sales growth was 6% and 4% organic, both measure in local
currency.
* Gross profit amounted to USD 303 million or 63% of sales, compared to USD
323 million or 63% of sales in 2014.
* EBITDA amounted to USD 97 million or 20% of sales. Adjusted EBITDA amounted
to USD 99 million or 20% of sales compared to USD 104 million or 20% of
sales in 2014.
* Net profit amounted to USD 51 million or 11% of sales compared to USD 59
million or 12% of sales in 2014.
* USD strengthening has had a significant negative impact on reported sales
and profits when comparing to prior year results.
* Cash generated by operations amounted to USD 84 million or 17% of sales
compared to USD 98 million or 19% of sales in 2014.
* The Board of Directors will propose to the Annual General Meeting in 2016
that the Company pays a cash dividend of DKK 0.12 per share for 2015,
equivalent to 16% of net earnings in 2015.
* The Board of Directors will also propose to the Annual General Meeting to
reduce the share capital by cancelling 1.892.688 of the Company's own
shares.

Highlights Q4 2015

* Sales amounted to USD 125 million compared to USD 129 million in Q4 2014,
corresponding to 5% growth measured in local currency.
* EBITDA amounted to USD 25 million or 20% of sales, compared to USD 26
million or 20% of sales in Q4 2014.
* Net profit amounted to USD 13 million or 10% of sales, compared to USD 15
million or 12% of sales in Q4 2014.
* Cash generated by operations amounted to USD 31 million or 25% of sales,
compared to USD 29 million or 23% of sales in Q4 2014.
* In November 2015, Össur purchased 2,465,000 of own shares (approximately
0.6% of the Company's total share capital) on NASDAQ Copenhagen at price of
DKK 22.2 per share. The total purchase price was DKK 55 million (USD 8
million).
* A safe harbor share buyback program was launched in December of 2015. The
Company may purchase up to 5,000,000 shares, corresponding to 1.1% of the
then current share capital, under the program.

Financial Guidance for 2016

The financial guidance for the full year of 2016 is as follows:

* Organic sales growth LCY in the range of 3-5%
* EBITDA margin in the range of 20-21% of sales
* Capital expenditures in the range of 3-4% of sales
* Effective tax rate around 26%

Jon Sigurdsson, President&CEO, comments:

"We closed the year with strong operational results and with good
profitability despite adverse currency fluctuations negatively impacting our
operating results. Sales grew in all regions and both business segments.
Prosthetics growth was good on top of an excellent year in 2014. Bracing and
supports sales were driven by growth of high end innovative products. At our
Capital Markets Day in Copenhagen we proudly demonstrated innovation that
allows users of Össur bionic devices to control movement of the device with
their thoughts. Although the commercialization of this technology is out in
the future, we are very excited to be in the lead in developing this
technology."

Conference Call

Össur will host a conference call on Wednesday 3thFebruary 2016 at9:00 CET/
8:00 GMT/ 3:00 EDT.
To participate in the call please dial:

Europe: + 45 3544 5579, +44 (0) 203 364 5374 or +46 (0) 8 505 564 74,

The United States: + 1 855 753 2230,

Iceland: +354 800 7417

Q4 2015 Investor Presentation
http://hugin.info/133773/R/1983243/726770.pdf
Q4&FY 2015 Financial statements
http://hugin.info/133773/R/1983243/726769.pdf
Q4&FY 2015 Company Announcement
http://hugin.info/133773/R/1983243/726768.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#1983243

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