Össur: FY'23 revenue guidance upgrade - ABG

• Solid Q2'23, providing confidence to upgrade FY'23...
• ...organic revenue guidance to 7-8% from 4-8% (cons. 7.8%)
• Value range reiterated and limited cons. est changes expected

Solid Q2'23 with revenues of USD 201m (1% above cons)
Q2'23 was a solid quarter, with sales of USD 210m (2% above ABGSCe,1% above company collected consensus), corresponding to a total sales growth of 11% (ABGSCe 9%, cons. 10%). The growth was driven by all segments and regions, with most notably prosthetics sales performing very well during the quarter. Prosthetics sales were up 20% y-o-y, with total sales of USD 103m, 8% above ABGSCe and 6% above cons. Additionally, the quarter saw an almost historic high percentage of prosthetics sales coming from the high-margin, high-tech sub-segment bionics, which accounted for 25% of prosthetics sales during the quarter. EBITDA came in at USD 37m, slightly below cons at USD 38m).

Länk till analysen i sin helhet: https://cr.abgsc.com/contentassets/b9038be469ee4b19ac1dfe0e3c100791/pdf/fy23-revenue-guidance-upgrade.pdf