Interim report Q1 2020 is now available

Jon Sigurdsson, President & CEO, comments: “The COVID-19 pandemic is impacting Össur’s operations and our focus has been on the safety and well-being of employees and customers. Current demand is being met with manufacturing employees working in shifts and many of our office and sales employees are working from home. The pandemic is having a short-term negative impact on demand for prosthetic and bracing & supports products. Financial performance is therefore negatively impacted, and it remains uncertain how long the impact will last. Sales growth in the first two months of the year was in line with earlier expectations but sales began to be impacted in March. Sales month to date in April are furthermore significantly impacted but we are already seeing clear signs of gradual recovery in key European markets and sales in China were in April back at levels comparable with 2019. The long-term prospects and underlying fundamental drivers of the prosthetics and bracing & supports markets are however not expected to change. The impact from COVID-19 is furthermore expected to lead to some pent-up demand. The outlook for the full year however remains uncertain and we are currently unable to provide an updated financial guidance. Even so, we are well financed and confident that we are in a strong position to get through these uncertain times. I would like to thank all our employees and customers for continued flexibility, positive team spirit and their efforts in this challenging time.”

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