Embla Medical hf: Interim Report Q4 2024
Embla Medical reported Q4 2024 sales of USD 225 million with 5% organic growth and 8% local currency growth. The company's Prosthetics & Neuro Orthotics segment grew 12% organically, while Bracing & Supports increased 2%, and Patient Care declined 1%.
Q4 2024 highlights include a gross profit margin of 63% (up from 61% in Q4 2023), EBITDA margin of 21% (up from 18%), and net profit of USD 19 million. Free cash flow reached USD 34 million, representing 15% of sales.
For full-year 2024, the company achieved 6% organic growth, with EBITDA margin reaching 20%. Looking ahead, Embla Medical issued 2025 guidance projecting 5-8% organic sales growth and 20-21% EBITDA margin.
Embla Medical ha riportato vendite nel Q4 2024 pari a 225 milioni di USD con una crescita organica del 5% e una crescita in valuta locale dell'8%. Il segmento Protesi e Ortesi Neuro è cresciuto del 12% organicamente, mentre il comparto Supporti e Stecche è aumentato del 2%, e la Cura del Paziente ha registrato un calo dell'1%.
I punti salienti del Q4 2024 includono un margine di profitto lordo del 63% (in aumento rispetto al 61% del Q4 2023), un margine EBITDA del 21% (in aumento rispetto al 18%), e un profitto netto di 19 milioni di USD. Il flusso di cassa libero ha raggiunto i 34 milioni di USD, rappresentando il 15% delle vendite.
Per l'intero anno 2024, l'azienda ha raggiunto una crescita organica del 6%, con un margine EBITDA del 20%. Guardando al futuro, Embla Medical ha emesso una guida per il 2025 prevedendo una crescita organica delle vendite del 5-8% e un margine EBITDA del 20-21%.
Embla Medical reportó ventas en el Q4 de 2024 de 225 millones de USD con un crecimiento orgánico del 5% y un crecimiento en moneda local del 8%. El segmento Prótesis y Ortosis Neuro creció un 12% de manera orgánica, mientras que el área de Fajas y Soportes aumentó un 2%, y el cuidado del paciente disminuyó un 1%.
Los puntos destacados del Q4 2024 incluyen un margen de beneficio bruto del 63% (aumento desde el 61% en el Q4 de 2023), un margen EBITDA del 21% (aumento desde el 18%), y un beneficio neto de 19 millones de USD. El flujo de caja libre alcanzó los 34 millones de USD, representando el 15% de las ventas.
Para el año completo de 2024, la empresa logró un crecimiento orgánico del 6%, con un margen EBITDA del 20%. Mirando hacia adelante, Embla Medical emitió una guía para 2025 proyectando un crecimiento orgánico de ventas del 5-8% y un margen EBITDA del 20-21%.
엠블라 메디컬은 2024년 4분기 매출이 2억 2천5백만 달러에 달하며, 유기적 성장률은 5%, 현지 통화 기준 성장률은 8%라고 보고했습니다. 회사의 보철 및 신경 정형외과 부문은 유기적으로 12% 성장했고, 브레이싱 및 지지대 부문은 2% 증가했으며, 환자 관리는 1% 감소했습니다.
2024년 4분기 주요 사항으로는 백분율 총 이익률이 63% (2023년 4분기 61%에서 증가), EBITDA 마진 21% (18%에서 증가), 그리고 순익 1천9백만 달러가 포함됩니다. 자유현금흐름은 3천4백만 달러에 도달하여 매출의 15%를 차지합니다.
2024년 전체 연도에 대해 회사는 6%의 유기적 성장을 달성하였으며, EBITDA 마진은 20%에 도달했습니다. 미래를 내다보며, 엠블라 메디컬은 2025년을 위한 가이드를 발표하였으며, 5-8%의 유기적 판매 성장과 20-21%의 EBITDA 마진을 예상하고 있습니다.
Embla Medical a annoncé des ventes de 225 millions USD pour le Q4 2024 avec une croissance organique de 5% et une croissance en monnaie locale de 8%. Le segment Prothèses et Orthèses Neuro a connu une croissance organique de 12%, tandis que le secteur Appareils de soutien a augmenté de 2%, et les Soin des patients ont diminué de 1%.
Parmi les points forts du Q4 2024, on peut noter un marge brute de 63% (en hausse par rapport à 61% au Q4 2023), un marge EBITDA de 21% (en hausse par rapport à 18%), et un bénéfice net de 19 millions USD. Le flux de trésorerie libre a atteint 34 millions USD, représentant 15% des ventes.
Pour l'année 2024 dans son ensemble, l'entreprise a réalisé une croissance organique de 6%, avec une marge EBITDA atteignant 20%. En regardant vers l'avenir, Embla Medical a annoncé des prévisions pour 2025, projetant une croissance organique des ventes de 5-8% et une marge EBITDA de 20-21%.
Embla Medical berichtete im Q4 2024 von einem Umsatz von 225 Millionen USD mit einem organischen Wachstum von 5% und einem Wachstum in lokaler Währung von 8%. Das Segment Prothesen und Neuroorthopädie wuchs organisch um 12%, während der Bereich Unterstützungen und Stützen um 2% zunahm und die Patientenversorgung um 1% zurückging.
Die Höhepunkte des Q4 2024 umfassen eine Bruttomarge von 63% (gestiegen von 61% im Q4 2023), eine EBITDA-Marge von 21% (gestiegen von 18%) und einen Nettogewinn von 19 Millionen USD. Der freie Cashflow erreichte 34 Millionen USD, was 15% des Umsatzes entspricht.
Für das Gesamtjahr 2024 erzielte das Unternehmen ein organisches Wachstum von 6%, mit einer EBITDA-Marge von 20%. In die Zukunft blickend gab Embla Medical eine Prognose für 2025 heraus, die 5-8% organisches Verkaufswachstum und eine EBITDA-Marge von 20-21% prognostiziert.
- Q4 organic sales growth of 5% with local currency growth of 8%
- Strong 12% organic growth in Prosthetics & Neuro Orthotics segment
- EBITDA margin improved to 21% from 18% year-over-year
- Gross profit margin increased to 63% from 61% in Q4 2023
- Free cash flow improved to 15% of sales from 13% year-over-year
- Full-year 2024 net profit grew by 17%
- Patient Care segment declined 1% organically in Q4
- Net profit margin decreased to 8% from 9% in Q4 2023
- Negative impact from financial expenses and currency fluctuations
Insights
The Q4 2024 results demonstrate Embla Medical's robust execution of its Growth'27 strategy, with several noteworthy achievements. The 5% organic growth and 8% local currency growth reflect strong market positioning, particularly in high-end solutions. The standout 21% EBITDA margin represents significant improvement from 18% in Q4 2023, driven by successful cost optimization initiatives and improved operational efficiency.
The segment performance reveals important trends: The Prosthetics & Neuro Orthotics division's exceptional 12% organic growth showcases the company's strength in high-margin, specialized medical devices. While Bracing & Supports showed modest 2% growth, the slight decline in Patient Care (-1%) against a strong comparative period doesn't indicate structural weakness, especially considering the segment's 5% full-year growth.
Financial health indicators are particularly strong: The 200 basis point improvement in gross margin to 63% demonstrates successful cost management and favorable product mix. The robust free cash flow at 15% of sales (
The 2025 guidance of 5-8% organic growth and 20-21% EBITDA margin suggests management's confidence in sustaining momentum through volume growth and operational efficiency. The recent Fior & Gentz acquisition and ForMotion brand unification indicate strategic focus on portfolio optimization and market presence enhancement.
Notably, Embla's #41 ranking in TIME Magazine's Sustainable Growth list adds an important ESG dimension, potentially attracting sustainability-focused investors and supporting long-term value creation through environmental stewardship alongside financial performance.
Announcement no. 1/2025
5 February 2025
Interim report Q4 2024
Sveinn Sölvason, President and CEO, comments:
"Sales in Q4 2024 amounted to
EBITDA margin (before special items) came in strong at
We are very pleased with the progress on our Growth'27 strategy and ability to execute on our ambitious targets and priorities such as the Fior & Gentz acquisition we completed in January 2024, unifying our Patient Care business under the ForMotion brand and delivering exciting new innovation. These initiatives are all enabling us to reach even more people with our mobility solutions. Lastly, we have issued new guidance for 2025 of 5
Highlights Q4 2024
- Sales amounted to
USD 225 million and organic growth was5% , compared to9% in Q4 2023. Local currency sales growth was8% including acquisitions and7% reported growth in USD. For FY 2024, organic sales growth was6% . - Prosthetics & Neuro Orthotics sales grew by
12% organic, Bracing & Supports sales grew by2% organic, while Patient Care sales declined by1% organic in Q4 2024 due to a strong comparison in Q4 2023. For FY 2024, Prosthetics & Neuro Orthotics sales grew by9% organic, Bracing & Supports sales grew by1% organic and Patient Care sales grew by5% organic. Growth is attributed to solid volume growth and positive product mix supported by strong performance in our high-end solutions. - Gross profit was
USD 142 million and gross profit margin was63% , compared to61% in Q4 2023. For FY 2024, the gross profit margin was63% compared to62% in 2023. The gross profit margin was positively impacted by cost reduction initiatives in manufacturing implemented during the first quarter of 2024, as well as favorable product mix and manufacturing efficiency. - EBITDA amounted to
USD 47 million and EBITDA margin was21% of sales, compared to18% in Q4 2023. In FY 2024, EBITDA margin before special items increased to20% compared to18% for FY 2023. The EBITDA margin expansion was driven by strong sales performance, cost savings and efficiency in manufacturing, and effective cost control in SG&A. - Net profit was
USD 19 million and net profit margin was8% of sales, compared to9% of sales in Q4 2023. While stronger operating profit contributed positively to net profit in Q4 2024, financial expenses and net exchange rate differences due to currency fluctuations impacted net profit negatively. In FY 2024, net profit grew by17% and the net profit margin increased to8% compared to7% in FY 2023. - Free cash flow amounted to
USD 34 million or15% of sales, compared to13% of sales in Q4 2023. In FY 2024, free cash flow amounted to9% of sales compared to7% of sales in FY 2023, with the increase driven by stronger operation profit. - NIBD/EBITDA before special items was 2.4x at the end of Q4 2024, within our target range of 2-3x EBITDA in line with our capital structure and capital allocation policy. Therefore, the share buyback program is to be reinitiated shortly.
Other highlights
- In December 2024 Embla Medical (Össur) was ranked #41 and highlighted as one of the World's Best Companies in Sustainable Growth 2025 by TIME Magazine. The ranking, developed by TIME and Statista, a leading data analytics platform, names 500 companies pairing growth with environmental stewardship. The survey evaluated companies based on their environmental disclosure and scored them according to their revenue growth, financial stability, and environmental impact.
2025 outlook
- Organic sales growth guidance of 5
-8% , driven by strong volume growth and moderate price increases. - EBITDA margin guidance of 20
-21% driven by scale and efficiency coupled with continued focus on cost control in SG&A.
Conference call details
Embla Medical will host a conference call February 5, 2025, at 9:00 CET / 7:00 GMT / 3:00 EST.
The event will be hosted by Sveinn Solvason, President and CEO, and G. Arna Sveinsdottir, CFO. The call will include a review of the quarterly and full year results and will be held in English.
Slides used in the presentation will be made available on the company website at the following link: https://www.emblamedical.com/investors
To participate in the telephone conference, please use the dial-in details provided below:
DK: +45 78 76 84 90
SE: +46 31-311 50 03
US: +1 646 787 0157
Participant access code: 274982
The webcast will be available through following link: Embla Medical Q4/FY 2024 webcast
Further information
Klaus Sindahl, Head of Investor Relations, KSindahl@emblamedical.com, +45 5363 0134
Embla Medical press releases by e-mail
If you wish to receive Embla Medical press releases by e-mail, please register at http://www.emblamedical.com/investors
About Embla Medical
Embla Medical (Nasdaq Copenhagen: EMBLA) was founded in
Embla Medical was formerly listed as Össur (OSSR) on Nasdaq Copenhagen until 8 April 2024.
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SOURCE Embla Medical hf.
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