Announcement no. 12/2023

29 March 2023

Growth'27 Strategy

Tomorrow, Össur is hosting a Capital Markets Day where Össur will introduce its Growth'27 strategy, outlining key strategic priorities for the next 5 years.

Management will present a growth ambition of 7-10% average Local Currency Growth (LCY) over the Growth'27 period, in FY 2023-2027, which is comprised of average organic growth of 5-7% and average acquisitive growth of 2-3%. The Growth'27 organic and acquisitive growth drivers will be outlined and presented at the Capital Markets Day.

Össur maintains the current financial guidance for FY 2023 of 4-8% organic sales growth and 17-20% EBITDA margin before special items.

New sales segmentation

At the Capital Markets Day, a new sales segmentation will be presented. In recent years, Össur's business mix has changed, and the new sales segmentation will provide better transparency on the sales performance. Össur has acquired O&P clinics in key markets, whilst divesting part of Bracing & Supports in 2020 and acquiring prosthetic companies College Park in 2020 and Naked Prosthetics in 2022. The new sales segmentation includes three business segments; Prosthetics, Bracing & Supports and Patient Care. The new sales segment, Patient Care, consists of product sales and services provided in O&P clinics owned by Össur. The products sold are primarily prosthetics and bracing & supports solutions, in addition to various other mobility solutions.  

Historical sales segmentation and growth rates for the three previous years, FY 2020-2022, are outlined below. In addition, attached to this announcement is a quarterly overview for FY 2022.

Sales by FY Organic growth* Δ Acq. / div. Δ Curr. Effect USD growth
Segment 2022
(USD
million)
Prosthetics 347 6% 1% -6% 1%
Bracing & 143 2% 0% -5% -3%
Supports
Internal -31 9% 3% -7% 6%
product
sales
External 459 5% 1% -6% -1%
product
sales

Patient 260 2% 7% -8% 1%
Care

Total sales 719 4% 3% -7% 0%

Sales by FY Organic growth* Δ Acq. / div. Δ Curr. Effect USD growth
Segment 2021
(USD
million)
Prosthetics 343 14% 2% 3% 20%
Bracing & 147 12% -30% 2% -16%
Supports
Internal -29 17% 16% 5% 38%
product
sales
External 462 13% -12% 3% 4%
product
sales

Patient 257 4% 29% 5% 37%
Care

Total sales 719 10% 1% 3% 14%

Sales by FY Organic growth* Δ Acq. / div. Δ Curr. Effect USD growth
Segment 2020
(USD
million)
Prosthetics 287 -6% 3% 0% -3%
Bracing & 176 -18% -5% 0% -22%
Supports
Internal -21 3% 8% 2% 13%
product
sales
External 442 -12% -1% 0% -12%
product
sales

Patient 188 -8% 11% 0% 3%
Care

Total sales 630 -10% 2% 0% -8%

The Össur Q1 2023 Interim Report, to be published on 25 April 2023, will be the first report that includes the new sales segmentation.

Össur Capital Markets Day participation details and presentation

Össur will host the Capital Markets Day tomorrow, 30 March 2023 at 8.00-13.00 CEST, at the Hotel Scandic Spectrum, in Copenhagen, Denmark.

The Capital Markets Day will also be webcasted live. To receive the live webcast streaming link, please click on this link: Össur Capital Markets Day - Webcast (https://www.ossur.com/global/prismic/generic/register-virtual-attendance-capital-markets-day). The live-streamed event will begin at 8.30 CEST, and end at 12.30 CEST.

The Capital Markets Day presentation material will be made available on the Össur website, Össur Capital Markets Day (https://www.ossur.com/global/capital-markets-day), tomorrow, 30 March 2023, at 8.00 CEST.

Forward-looking statements

This company announcement contains forward-looking statements, which reflect Management's current views with respect to certain future events and financial performance. Although the statements are based upon estimates the Management believes to be reasonable, there is no assurance that these statements will be achieved.

Statements containing the financial outlook for 2023 and the following years naturally involve risks and uncertainties, and consequently actual results will differ, and may differ materially, from those projected or implied in the forward-looking statements.

The risks and uncertainties may include unexpected developments in the international currency exchange and securities markets, financing, market driven price decreases for Össur's products, delay or failure of development products, production problems and unexpected cost increases, development of new technologies by competitors, the introduction of competing products within Össur's core areas, exposure to product liability and other lawsuits, changes in reimbursement rules and governmental laws.

Further information

Edda Lára Lúðvígsdóttir, Investor Relations Director, eludvigsdottir@ossur.com,+354 844 4759

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About Össur

Össur (Nasdaq Copenhagen: OSSR) is a leading global provider of innovative mobility solutions that help people live a Life Without Limitations®. For over 50 years, Össur has had a strong purpose rooted in positively impacting people's health and well-being. A recognized "Technology Pioneer", Össur focuses on improving people's mobility through the delivery of solutions that advance patient care. Significant investment in research and development has led to over 2,000 patents, award-winning designs, successful clinical outcomes, and steady growth. Össur is committed to sustainable business practices and is signatory to the UN Global Compact, UN Women's Empowerment Principles, and contributes to the UN Sustainable Development Goals. Össur operates globally and has around 4,000 employees. www.ossur.com