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Ossur Hf : Össur announces efficiency initiatives

Announcement no. 68/2017
Reykjavík, 25 September 2017


Össur announces efficiency initiatives

At the Capital Markets Day in Copenhagen on 27 September 2017, Össur's
management will elaborate on growth, innovation, and new efficiency initiatives.

Össur's sales have grown at a 22% compound annual growth rate since the Company
was listed in 1999. This growth has been driven by a combination of organic and
acquired growth, where the acquisitions of Touch Bionics and Medi Prosthetics
represent the latest additions to the Össur business. Össur's profitability has
grown at a similar rate with a continuous focus on operational improvements.

Össur has identified further opportunities to increase efficiency by
consolidating and simplifying its operations to better leverage its key
strategic locations. Consequently, Össur has initiated three efficiency
initiatives in the areas of Manufacturing, Distribution, and Sourcing to support
further profitable growth.

The initiatives will be implemented over the next three years where annual cost
savings are expected to materialize gradually and amount to USD 10 million in
2020. Total implementation costs are expected to amount to USD 15 million,
hereof approximately USD 3 million in the third quarter of 2017. The
implementation costs will be expensed as special items over the three-year
period. In addition, total capital expenditures related to the initiatives are
expected to be around USD 4 million.

Össur aims to further strengthen its innovation by investing a portion of the
realized savings in research and development.

These measures do not impact the full year guidance of 2017 as Össur provides
guidance on EBITDA margin before special items.

For further information
Presentation material with additional information will be published just before
the Capital Markets Day begins and will be made available on Össur's website:
www.ossur.com/investors.

Contact details

Jon Sigurdsson, President & CEO                                    +354 515 1300

Sveinn Solvason, CFO                                        +354 515 1300

David Hreidarsson, Investor Relations                              +354
515 1380                   dhreidarsson@ossur.com


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About Össur
Össur (NASDAQ: OSSR) is a global leader in non-invasive orthopaedics that helps
people live a life without limitations.  Its business is focused on improving
people's mobility through the delivery of innovative technologies within the
fields of braces, supports, prosthetic limbs and compression therapy.  A
recognized "Technology Pioneer", Össur invests significantly in research and
product development; its award-winning designs ensuring a consistently strong
position in the market. Successful patient and clinical outcomes are further
empowered via Össur's educational programs and business solutions.
Headquartered in Iceland, Össur has major operations in the Americas, EMEA and
APAC, with additional distributors worldwide. www.ossur.com.

Forward-looking statements
This press release includes "forward-looking statements" which involve risks and
uncertainties that could cause actual results to differ materially from results
expressed or implied by these statements. Össur hf. undertakes no obligation and
does not intend to update these forward-looking statements to reflect events or
circumstances occurring after this press release. You are cautioned not to place
undue reliance on these forward-looking statements, which speak only as of the
date of this press release. All forward-looking statements are qualified in
their entirety by this cautionary statement.


Össur announces efficiency initiatives: 
http://hugin.info/133773/R/2136513/817629.pdf



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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
 
Source: Ossur Hf via GlobeNewswire