Össur Reports 1Q Financial Results
May 09, 2019
Össur, Reykjavik, Iceland, announced sales growth of 19 percent in local currency in the first quarter (1Q) 2019 and organic sales growth of 8 percent. Other highlights include:
· The prosthetics segment grew 10 percent organic and the bracing and supports segment grew 5 percent organic.
· Gross profit margin was 64 percent compared to 62 percent in 1Q 2018.
· The earnings before interest, taxes, depreciation, and amortization (EBITDA) margin was 19 percent compared to 14 percent in the comparable quarter.
· Net profit grew by 37 percent and amounted to 9 percent of sales. Growth in diluted earnings per share was 38 percent.
· Cash generated by operations was 10 percent compared to 4 percent of sales in the comparable quarter.
· Össur acquired 985,364 of its own shares through the ongoing share buyback program for $5 million in 1Q.
· Dividends corresponding to approximately $9 million or 11 percent of net profit in 2018 were paid out in March.
· 5,430,259 of its own shares with a nominal value of Icelandic Króna (ISK) 1 each were cancelled at the end of March. Össur's share capital is now ISK 425,377,804.
· The financial guidance for the full year 2019 is unchanged.