Össur: FY'23 guidance to the soft side - ABG

Solid Q4 top-line, but margins fail to reach expectations
FY'23 guidance indicates a soft margin expansion outlook
We expect the share to trade slightly negative today


Q4 saw a strong rebound within bionics sales

Solid Q4 on the top line, driven by strong performance within the prosthetics subsegment, bionics, which accounted for 25% of prosthetic component sales vs. 23% in Q4'21. The increase was mainly driven by the power knee sales. However, the margins in Q4 did not reach company-collected consensus expectations, with the EBITDA margin reaching 18% (cons. 20%), indicating a slower-than-expected margin uptake, as the company still works to mitigate the increased cost base, with price increases.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/ossur/Equity-research/2023/1/ossur---fy23-guidance-to-the-soft-side/