Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  NASDAQ OMX COPENHAGEN  >  Össur hf.    OSSR   IS0000000040

ÖSSUR HF.

(OSSR)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector news

Össur hf: Financial guidance for 2020 reinstated

share with twitter share with LinkedIn share with facebook
09/18/2020 | 07:22am EDT

Announcement no. 36/2020

18 September 2020

Financial guidance for 2020 reinstated

Össur withdrew its financial guidance on 17 March 2020 due to the uncertainty caused by the COVID-19 pandemic. Although the visibility on sales development in the remainder of the year remains limited, Össur has reinstated the financial guidance for 2020 assuming there are no significant changes in restrictive measures related to COVID-19 in Össur's main markets before year-end.

Whilst the Orthotics & Prosthetics (O&P) industry was materially impacted by the COVID-19 pandemic, especially in the period March through May, we have observed a gradual recovery in sales. Average sales compared to the same period last year were as follows: January and February 2020 were around 100% of last year's sales, March 80-90%, April 60-70%, May 70-80%, June 80-90% and through July, August and mid-September sales have been between 90-100%. Through the period, prosthetics sales have shown to be more resilient than bracing & supports sales. This is partly due to hospital restrictions, fewer elective surgeries, and a lower rate of injuries that have a greater impact on bracing & supports sales. Sales in some of the key European and Asian markets are growing again and realizing some pent-up demand. Sales in other key markets, particularly the US and UK, remain volatile.

Given the current situation in Össur's key markets and assuming no significant change in measures to control the pandemic, the sales outlook for the second half of 2020 is estimated to be between 0% and 8% organic decline. The upper end of the range assumes continued recovery in Össur's key markets and some pent-up demand towards the end of the year. The lower end of the range assumes slower recovery and that sales will continue to be within 90-100% of last year's sales in Q4. Profitability is expected to return to prior levels as sales volumes normalize. It is emphasized that the outlook for 2020 is more uncertain than usual as changes in measures to control the COVID-19 pandemic in Össur's main markets can have significant implications for financial performance in the remainder of the year. Even so, the long-term prospects and underlying fundamental drivers of the prosthetics and bracing & supports markets are not expected to change.

Further information

David Hreidarsson, Investor Relations Manager, dhreidarsson@ossur.com, +354 661 8225

Helga Daníelsdóttir, Investor Relations Analyst, hdanielsdottir@ossur.com, +354 766 4959

Össur press releases by e-mail

If you wish to receive Össur press releases by e-mail please register at http://www.ossur.com/investors

About Össur

Össur (Nasdaq Copenhagen: OSSR) is a global leader in non-invasive orthopedics that help people live a life without limitations. A recognized "Technology Pioneer," Össur focuses on improving people's mobility through the delivery of innovative technologies in Prosthetics and Bracing & Supports, by investing significantly in research and product development to create award-winning designs with consistently strong market positions. Successful patient and clinical outcomes are further empowered via Össur's educational programs and business products.  As part of Össur's long-standing commitment to social responsibility, the company has been a signatory to the United Nations Global Compact since 2011, and also participates in the Nasdaq Nordic and Baltic exchanges' voluntary guidelines for Environment, Social and Corporate Governance (ESG). Össur is headquartered in Iceland, with major operations in the Americas, Europe and Asia, and additional distributors worldwide. www.ossur.com

https://news.cision.com/ossur-hf-/r/ossur-hf--financial-guidance-for-2020-reinstated,c3196813

https://mb.cision.com/Main/18404/3196813/1307974.pdf

(c) 2020 Cision. All rights reserved., source Press Releases - English


share with twitter share with LinkedIn share with facebook
All news about ÖSSUR HF.
10/13ÖSSUR HF : Q3 2020 Results - Conference call Tuesday 27 October at 9:00 CET
PU
10/13ÖSSUR HF : Q3 2020 Results - Conference call Tuesday 27 October at 9:00 CET
AQ
09/30ÖSSUR HF : Össur completes divestment of Gibaud SAS in France
AQ
09/18ÖSSUR HF : Financial guidance for 2020 reinstated
AQ
09/01ÖSSUR : Össur Announces Establishment of Össur Japan
PU
08/31OSSUR : Announces Establishment of Ossur : Japan
BU
08/19ÖSSUR HF : Major shareholder announcement
AQ
07/31ÖSSUR HF : Notification of managers and closely related parties' transactions
AQ
07/23ÖSSUR HF : Interim report Q2 2020
AQ
07/13ÖSSUR HF : Össur enters exclusive negotiation in relation to the divestment of G..
AQ
More news
Financials (USD)
Sales 2020 634 M - -
Net income 2020 25,6 M - -
Net Debt 2020 280 M - -
P/E ratio 2020 121x
Yield 2020 0,12%
Capitalization 3 108 M 3 111 M -
EV / Sales 2020 5,35x
EV / Sales 2021 4,79x
Nbr of Employees 3 449
Free-Float 46,8%
Chart ÖSSUR HF.
Duration : Period :
Össur hf. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ÖSSUR HF.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 48,21 DKK
Last Close Price 46,60 DKK
Spread / Highest target 10,8%
Spread / Average Target 3,45%
Spread / Lowest Target -1,29%
EPS Revisions
Managers
NameTitle
Sigurdur Jón Sigurđsson President & Chief Executive Officer
Niels Jacobsen Chairman
Egill Jónsson Executive VP-Manufacturing & Operations
Sveinn Sölvason Chief Financial Officer
Kristleifur Kristjansson Executive Vice President-Research & Development
Sector and Competitors
1st jan.Capitalization (M$)
ÖSSUR HF.-9.94%3 111
ABBOTT LABORATORIES24.38%194 174
MEDTRONIC PLC-4.38%148 060
STRYKER CORPORATION5.22%84 154
BECTON, DICKINSON AND COMPANY-12.72%68 696
HOYA CORPORATION18.09%43 495