össur annual report2009 - Euroland

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strategy Mission WE IMPROvE PEOPLE'S MOBILITY. vision LEADING COMPANY IN NON-INvASIvE ORTHOPAEDICS.
strategy Össur focus is on improving people’s mobility through the delivery of innovative technologies within the fields of bracing and supports, prosthetics and compression therapy. Innovation and acquisitions are, and will continue to be, the cornerstone of Össur’s strategy. Össur creates value for customers, shareholders and employees by: Increasing value through innovation. Össur’s innovative products ensure the Company maintains a consistently strong position within the non-invasive orthopaedics market. The Company intends to continue leading the way with innovative solutions by delivering a steady, valuable and successful product pipeline, enabling customers and clients to live life without limitations. Growing through strategic acquisitions. Össur has evolved from a single product prosthetic company to a global player in the non-invasive orthopaedics market with a broad and diverse range of products. Over the last few years, Össur’s focus has been on extracting synergies from previous acquisitions. Strategic acquisitions, that can expand the product portfolio or sales channel, are constantly monitored. Gaining market share through a localized, well-defined, go-to market strategy. The Company has changed tremendously over the last few years, from the range of products and technologies Össur produces to the growing list of customers and markets. Össur will continue to offer high quality products and services committed to customers’ needs. Increasing profitability through efficiency and economies of scale. Össur strives to constantly improve and believes a profitable operation is the key to success. Össur is continually aiming to increase the efficiency of its operations and will always strive to seek new opportunities for further optimization. values Össur’s core values—Honesty, Frugality and Courage— serve as the foundation for the Company’s success. One fundamental characteristic to ensure successful cooperation is that all employees honor the Company’s core values as they communicate with colleagues and customers. honesty We show respect by adhering to facts, fulfilling promises and claims, and admitting failures. We nurture honest communication throughout the Company by sharing information and respecting each other’s workload. frugality We use resources wisely. We aim to minimize costs across all areas of our business through effective communication, preparedness, planning and optimized processes. courage We are open to change and constantly strive for improvement. We challenge unwritten rules, show initiative and take risks, while at the same time, taking responsibility for our ideas, decisions, and actions. 5 <strong>annual</strong> report 09
Page 1 and 2: össur annual report 2009
Page 3 and 4: table of contents annual report 200
Page 5: “The results for 2009 are good an
Page 10 and 11: Market and environMent Össur opera
Page 12 and 13: Össur is in the business of keepin
Page 14 and 15: operations Össur is a global ortho
Page 16 and 17: The Company believes that the combi
Page 18 and 19: We provide products and services to
Page 20 and 21: locations china asia china Asian He
Page 22: The world’s most requested ligame
Page 25 and 26: project management office engineeri
Page 27 and 28: R&D is essential to future developm
Page 29 and 30: talent ManageMent One of Human Reso
Page 31 and 32: transforming through acquisitions a
Page 34 and 35: corporate governance In line with t
Page 36 and 37: for a term of one year. Board Membe
Page 38 and 39: according to previously established
Page 40 and 41: the reMuneration and shareholding o
Page 42: ○○ MiaMi luMbar The Miami Lumb
Page 45 and 46: Product liability claims could adve
Page 47 and 48: Össur’s aim is to maintain and i
Page 49 and 50: In 2009 Össur celebrated its 10 ye
Page 51 and 52: publication schedule for reports Fi
Page 54 and 55: perforMance overvieW 2009 Total sal
Page 56 and 57:
Currently, Össur has favorable fin
Page 59 and 60:
FINANCIAL RATIOS CONSOLIDATED STATE
Page 61 and 62:
INDEPENDENT AUDITOR’S REPORT To t
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CONSOLIDATED STATEMENTS OF COMPREHE
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31 DECEMBER 2009 AND 31 DECEMBER 20
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CONSOLIDATED STATEMENT OF CHANGES I
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controlled by the Company (its subs
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3.11 share-based payMents Equity-se
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3.16 inventories Inventories are st
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A derivative is presented as a non-
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6. geographical segMents The Compan
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7. other incoMe Included in other i
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Deferred tax balances: OpENING RECO
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14. property, plant and equipMent O
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Depreciation classified by operatio
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Amortization classified by operatio
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18. other financial assets fINANCIA
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25. retained earnings RETAINED EARN
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30. provisions CURRENT NON-CURRENT
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The Company’s exposures to intere
Page 97 and 98:
unaudited inforMation The following
Page 99 and 100:
annual report 2009 Production: Öss
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össur annual report2009 - Euroland

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