Embla Medical hf: Interim Report Q2 2024

Sveinn Sölvason, President and CEO, comments: Sveinn Sölvason, President and CEO, comments: "We delivered our highest ever quarterly sales in Q2 2024 with sales amounting toUSD 217 million. Organic growth was 6% for Q2 and local currency growth 9% with continued strong momentum in EMEA, driven by a strong performance in Prosthetics & Neuro Orthotics and Patient Care. In our Bracing & Supports business growth was more modest for the quarter. Our EBITDA margin came in strong...

Sveinn Sölvason, President and CEO, comments:

"We delivered our highest ever quarterly sales in Q2 2024 with sales amounting to USD 217 million. Organic growth was 6% for Q2 and local currency growth 9% with continued strong momentum in EMEA, driven by a strong performance in Prosthetics & Neuro Orthotics and Patient Care. In our Bracing & Supports business growth was more modest for the quarter.

Our EBITDA margin came in strong for the quarter at 22%, supported by the cost reduction initiatives implemented in manufacturing in addition to a contribution from positive product mix and scalability. Toward the end of the quarter we introduced two new bionic knee products, NAVii^® by Össur and Icon^® by College Park, and we are very excited about their potential in improving people's mobility.

Medicare in the US has finalized a proposal which will create a pathway for K2 amputees, which account for a significant part of the amputee population, to utilize more functional knee and foot solutions than they have historically had access to. This is great news, and we look forward to helping these individuals become more active and able in their daily activities.

We are executing well on our Growth'27 strategy. We are narrowing our full-year guidance to 6-8% organic sales growth and ~20% EBITDA margin before special items, as we expect continued good progress for the remainder of the year."

Highlights Q2 2024

Other highlights

2024 outlook

Conference call details

Embla Medical will host a conference call on 23 July 2024 at 9:00 CET / 7:00 GMT / 3:00 ET. A conference call webcast can be accessed here: Embla Conference Call Webcast.

To actively participate in the Q&A session of the call please click on this link: Registration form for Conference Call Q&A.

Embla Medical IR materials and  press releases

Link to our latest IR materials and Corporate Presentation
http://www.emblamedical.com/investors

Here you can also sign-up to receive Embla Medical press releases

Further information
Klaus Sindahl, Head of Investor Relations, [email protected], +45 5363 0134

About Embla Medical

Embla Medical (Nasdaq Copenhagen: EMBLA) was founded in Reykjavik in 1971 with the mission to improve people's mobility. Embla Medical is home to several brands renowned for positively impacting people's health and well-being. They include Össur, a leading global provider of prosthetics and bracing and supports solutions; FIOR & GENTZ, an innovative developer of neuro orthotics; and College Park Industries, creators of custom-built prosthetic solutions. Embla Medical also provides patients with world-class care through a global network of Orthotic and Prosthetic (O&P) facilities. Embla Medical 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. The company's climate targets have been verified by the Science Based Targets initiative. Embla Medical operates globally and has more than 4,000 employees. www.emblamedical.com 

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