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Ossur – 2005 Overview

Ossur – 2005 Overview. Jon Sigurdsson, President & CEO. Ossur Milestones 2005. Profitable year Financial goals achieved Bionic technology by Ossur – deserved attention Well placed acquisitions Comperhensive product lines Broader group of customers

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Ossur – 2005 Overview

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  1. Ossur – 2005 Overview Jon Sigurdsson, President & CEO

  2. Ossur Milestones 2005 • Profitable year • Financial goals achieved • Bionic technology by Ossur – deserved attention • Well placed acquisitions • Comperhensive product lines • Broader group of customers • Ossur - becoming a leader • in the Orthopaedic Industry

  3. Financial Goals 2006 2001 • Create shareholder value • by increasing earnings per share by 15% each year on average • 2. Expand the Company’s business to USD 180 million • in sales by the end of 2006 • 3. Ensure profitable operation by an EBITDA margin of 20% • EPS for the period 2000-2004 • CAGR 34% • 12 months period ending 30 June 2005 • total sales USD 196 million • Full year 2004 20% • 2005 20% Achieved Achieved Achieved The Company’s Goals for 2010 Expand the Company’s business to USD 750 million in sales Long-term EBITDA 23%

  4. Rheo Knee launched towards year-end 2004 First Bionic product - $ 3.5 million in sales Power Knee – launch in 2006 Has already received awards for outstanding technology Proprio Foot – launch in 2006 Further strenghtens Ossur as industry leader Bionic Technology by Ossur

  5. Acquisition History

  6. Integration planned along with the acquisition Integration projects and groups ready as of day one Branding transition and co-branding Coordination of sales forces Coordination of marketing Coordination of administration Coordination of manufacturing & operations Integration period 12-18 months Integration Processes

  7. Resulting in the Ossur Brand

  8. Product Portfolio Prosthetics Bracing & Support Ankle/ Knees Liners Locks & Ankle/ Knee Upper Casting/ Neck/Spine Foot Adapters Foot Extremity Splints Pre-Acquisition Post-Acquisition

  9. Product Portfolio ORTHOPEDICS PROSTHETICS BRACING & SUPPORT • BIONICS • Rheo Knee • Power Knee • Proprio Foot • KNEE • Rheo Knee • Power Knee • Total Knee • Mauch • FOOT & ANKLE • Proprio Fool • Flex Foot • Foot covers & cosmesis • LINERS & SOCKETS • Iceross • Icex • LOOKS & ADAPTERS • Icelock • Standard Adapters PARTNERSHIP SERVICES Ossur Academy Ossur Business Solutions Empower DME PRO • ANKLE & FOOT • Ankle Braces • Active Uploading Walkers • Short leg Walkers • AFO Orthoses • Padding • UPPER EXTREMITY • Arm Slinge • Elbow Supports • Wrist Braces • Thumb Splints • CASTING & SPLINTS • Tape • Splints • Accessoried • KNEE • OA Braces • Ligament Braces • Rehab Braces • Patellofemoral Braces • Pediatric Braces • Sports Injury • Immobilizers • Sleeves & Covers • NECK/SPINE • Miami J • Halo • Cervical Collars • Philly Collars • BAck Supports • Papoose • Level 1 Trauma • Pediatric

  10. Diverse Specialists Groups Ossur Sales Force Private Label Distributors O&P Workshops Hospitals Rheumatologists Physical Therapists Podiatrists Athletic Trainers Orthopedic Surgeons The number of Ossur’s potential clients in the US have increased from 3.000 to 117.000

  11. Ossur is a global Orthopaedics company specializing in products and services in the areas of prosthetics and braces and supports, utilizing the bionic technology Ossur Today Next Step: move into rehabilitation Ossur is in the business of improved mobility Offering patients a life without limitations

  12. Locations UK - IMP Holdings Sales, Distribution, Manufacturing USA, California Innovation Sports

  13. Leverage on high-tech platform Manufacturing cost leadership Consolidate the Orthopedics market Move into rehabilitation Further Oportunities

  14. Ossur – Financial Highlights 2005 Hjorleifur Palsson, CFO

  15. Agenda • Financial highlights: • Year 2005 • Q4 2005

  16. Financial Highlights 2005 • Net sales 161 million USD, up 29% from 2004 • Organic sales growth 9% • GPM 61% (excluding inventory mark up) • EBITDA 20% (excluding one time expenses) • Amortization pressing profit ratios 2%

  17. Financial Highlights 2005

  18. Financial Highlights 2005 Excluding restructuring expenses, inventory step up and one time other income

  19. Key Ratios 2004 / 2005 +29% +30% +30% +14% +2% Note: Excluding restructuring expenses, inventory step up and one time other income in 2005

  20. Income Statement 2005 by Entities Excluding restructuring expenses, inventory step up and one time other income

  21. Net Sales and Growth

  22. Sales by Business Segments 2004 2005

  23. Sales by Markets

  24. Sales by Markets 2004 2005

  25. Key Ratios 2003-2005Excluding restructuring expenses, inventory step up and one time other income

  26. Expensed R&D Investment

  27. Cash Flow from Operations

  28. Balance Sheet

  29. William Demant Invest A/S Investment Fund 141.952.402 36,88 Eyrir Invest ehf Investment Fund 56.185.481 14,60 Mallard Holding S.A. Founder 36.926.769 9,59 Vik Investment Holding S.a.r.L. President & CEO 24.446.907 6,35 Arion safnreikningur Custody Bank 23.721.240 6,16 Lífeyrissjóður verslunarmanna Pension Fund 13.303.854 3,46 Gildi -lífeyrissjóður Pension Fund 6.324.888 1,64 FL Investment ehf Investment Fund 4.722.007 1,23 Fidelity Funds-Nordic Fund Investment Fund 3.908.072 1,02 Mycenaean Holding S.a.r.L. VP of R&D 3.560.347 0,92 Landsbanki Íslands hf,aðalstöðv Bank 3.171.796 0,82 Sameinaði lífeyrissjóðurinn Pension Fund 2.773.772 0,72 Ker Holding S.a.r.L. VP of S&M 2.124.450 0,55 Lífeyrissjóður Austurlands Pension Fund 1.925.403 0,50 Lífeyrissjóður Vestfirðinga Pension Fund 1.853.364 0,48 Top 15 Shareholders 326.900.752 84,92 Others ( 3.141) 58.039.695 15,08 Total 384.940.447 100,00 Top 15 Shareholders 31.12. 2005 Nominal value %

  30. Financial Highlights Q4 2005 • Royce included the full quarter • IMP Holding included from December 1st 2005 • Total sales 49.6 million USD, up 59% from 2004 • Organic sales growth 8% • EBITDA 18% excl. one time expenses • Amortization pressing profit ratios 5%

  31. Financial Highlights Q4 Note: Including one time expenses of 1 million USD in Q4 2005, 0.7 million USD net of tax.

  32. Financial Highlights Q4 Excluding restructuring expenses and inventory step up

  33. Income Statement Q4 2005 by Entities Excluding restructuring expenses and inventory step up

  34. EBITDA Ratio Note: Excluding unusual other income, restructuring expenses, inventory step up in 2005

  35. Sales by Markets Q4 2005

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