össur annual report2009 - Euroland
össur annual report2009 - Euroland
össur annual report2009 - Euroland
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
perforMance overvieW 2009<br />
Total sales amounted to USD 331 million, a slight decline from 2008, or 1% measured<br />
in local currency. Sales and EBITDA for the year were in line with management guidance.<br />
Overall, Össur’s 2009 sales were satisfying when taking into consideration the<br />
global economic environment.<br />
Sales growth in prosthetics continues and was 8%, measured in local currency. This<br />
increase confirms Össur’s technical leadership and the Company’s strong position in<br />
this market segment. Sales of bracing and supports declined by 6% and sales of compression<br />
therapy products declined by 5%, both measured in local currency.<br />
The effect of the economic environment on sales varied by region, both in the US and<br />
in Europe. In the US, the effect has been most profound in those states suffering from<br />
higher unemployment rates. In such states, a trading down to lower priced products in<br />
the bracing and supports side of the business has been documented. Europe showed<br />
similar trends as the US. Some markets were more volatile than others. Some of the<br />
Asian markets have been affected, such as Korea, however, main markets and segments<br />
in Asia showed a handsome growth despite the economic downturn.<br />
USD ‘000 2009 % of sales groWth usd groWth lcy<br />
Americas 159,278 48% -1% 0%<br />
EMEA 156,906 48% -9% -1%<br />
Asia 14,396 4% 12% 13%<br />
Total 330,580 100% -5% -1%
Change language