Embla Medical — Oktober 2024
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Highlights Q3 2024
Sales amounted to USD 214 million and organic growth was 7%, compared to 7% in Q3 2023. In local currency sales growth was 10% increase including acquisitions and 11% reported growth (USD growth).
Prosthetics & Neuro Orthotics sales grew by 9%, Patient Care grew 9%, while Bracing & Supports grew by 1% (all organically). EMEA continued to contribute strongly during Q3, whereas performance in Americas remained soft. APAC delivered good growth. -
Gross profit margin was 63%, compared to 62% in Q3 2023. The increase in gross profit can partly be ascribed to cost reduction initiatives in manufacturing implemented during Q1 as well as better product mix and manufacturing efficiency.
EBITDA amounted to USD 47 million, and EBITDA margin was 22% of sales, compared to 19% in Q3 2023. Increasing gross profit margin and continued cost control contributed to increased profitability -
Net profit grew by 58% and was USD 22 million with a net profit margin of 10%, compared to 7% of sales in Q3 2023.
Cash generated from operations amounted to USD 52 million or 24% of sales, compared to 17% of sales in Q3 2023.
Free cash flow amounted to USD 33 million or 15% of sales, compared to 9% of sales in Q3 2023. Free cash flow was strong in the third quarter with solid operating results.
NIBD/EBITDA before special items was 2.8x at the end of Q3 2024. Share buybacks continue to be pause -
Other highlights
During the third quarter we introduced the third generation of our Naked Prosthetics finger device portfolio, while our newly launched bionic knee solutions, NAVii
by Össur and Icon by College Park continue to be rolled out in selected markets as part of our limited launch program. A full launch of NAVii and Icon is expected early 2025, as previously announced. -
A global team of elite para-athletes who wear Össur’s renowned prosthetics won 22 medals and set five new Paralympic Records during the 2024 Paralympic Games in Paris, with the company’s iconic carbon fiber Cheetah sports blades, easily identifiable by their distinctive yellow stripe, dominating several categories of Athletics competition
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2024 outlook
We reiterate our full year guidance of 6-8% organic sales growth and ~20% EBITDA margin before special items.
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Læs hele meddelelsen: https://mb.cision.com/Main/18404/4054217/3065335.pdf
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Medwatch: Embla Medical vokser encifret i tredje kvartal
Den islandske proteseproducent kan se frem til udvidet dækning i USA. https://medwatch.dk/Medico___Rehab/article17560107.ece -
Embla Medical ser frem mod udvidet dækning i USA efter stærkt tredje kvartal https://proinvestor.com/investornyt/1230517/embla-medical-ser-frem-mod-udvidet-daekning-i-usa-efter-staerkt-tredje-kvartal
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Et stærkt regnskab helt som forventet.
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Positivt med fremgang på alle markeder.
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Konference call: https://edge.media-server.com/mmc/p/o2dxucfe/
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To actively participate in the Q&A session of the call please use following link for dial in options https://register.vevent.com/register/BI0f67d9e43c4f4ff484123ef1cff5e472
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Embla Medical får hævet kursmålet til 41 kr. fra 36,40 kr. hos Nordea https://proinvestor.com/investornyt/1231187/embla-medical-far-haevet-kursmalet-til-41-kr-fra-3640-kr-hos-nordea
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HCAs event i dag - Embla Medical – Presentation of Interim report Q3 2024 https://www.inderes.dk/videos/embla-medical-presentation-of-interim-report-q3-2024
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Embla Medical – Recording of Q3 2024 result presentation https://www.inderes.dk/analyst-comments/embla-medical-recording-of-q3-2024-result-presentation?utm_source=nordnet&utm_medium=integration
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Selvom regnskabssæsonen ikke for alvor er gået i gang endnu, er der endnu en gang besøgsrekord på ProInvestor.com. Tak for at følge med! I denne pharma- og biotekopdatering kommer Helge Larsen ind på fedmesektoren, bl.a. et nyt studie fra Novo, hvor glp1 i Ozempic kan have en positiv effekt på alzheimers. Slutteligt fortæller han om Embla Medical, som laver proteser, og hvor nyeste skud på stammen er udviklet med kunstig intelligens. Kort video https://proinvestor.com/boards/122728
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