Embla Medical hf

Latest Results (23.05.2024):

Revenue Growth

In the first quarter of 2024, Embla Medical hf reported a robust revenue increase, with sales reaching USD 200 million, marking a 10% growth compared to the same period last year. This growth was primarily driven by a 7% organic increase, attributed to strong performances in the Prosthetics & Neuro Orthotics and Patient Care sectors.

Profit Margins

Embla Medical hf's net profit for Q1 2024 stood at USD 8 million, translating to a net profit margin of 4% of sales. This represents a decrease from the 6% margin recorded in Q1 2023, impacted by special item expenses incurred during the quarter.

EBITDA Performance

The company's EBITDA for the first quarter of 2024 was USD 33 million, with an EBITDA margin before special items of 17%, an improvement from 16% in the previous year. This increase was positively influenced by scalability in operating expenses, although currency fluctuations had a negative impact of 70 basis points on the EBITDA margin.

Cash Flow and Debt

Embla Medical hf experienced a negative free cash flow of USD 7 million in Q1 2024, which is typical for the season. The negative cash flow was further influenced by capital expenditures. The Net Interest-Bearing Debt (NIBD) to EBITDA ratio before special items was 3.3x at the end of the quarter, slightly above the target range due to the recent acquisition of FIOR & GENTZ.

Future Outlook

Looking ahead to the rest of 2024, Embla Medical hf maintains its organic sales growth guidance at 5-8%. The EBITDA margin before special items is also expected to remain steady at 19-20%, reflecting the company's confidence in its operational efficiency and market strategy.