Today, ABGSC hosted the Össur CFO (to be CEO) Sveinn Sölvason at our investor day seminar. During the presentation, the CFO confirmed that the company see little direct exposure to the ongoing Russia/Ukraine conflict. Össur’s main exposure lies in a handful employees in Ukraine, whom they are aiming to help as well as possible, and little sales in Russia (which is currently on hold). The CFO furthermore confirmed that the indirect supply chain challenges this might cause, currently looks manageable. Lastly, we learned that the COVID implications, seen so far in FY’22, fairly resembles what the company was expecting when providing FY’22 guidance.
Mind-controlled prosthetics sensor awaiting FDA approval
Within know growth drivers, such as tech trade-up and emerging markets focus, continuing to actively contribute to drive growth, the presentation also highlighted the fact that the company is currently having sensors for its future mind-controlled prosthetics being evaluated by the FDA. The sensors are meant to be implanted into remaining muscle tissue, to communicate with the prosthetic, to enable intuitive control. The mind-controlled prosthetic is however, not expected to be a near term growth driver.
Continued strong market presence
Looking at the overall market, the CFO remain confident in the strength of the underlying O&P markets, highlighting the company’s strong market position, especially within prosthetics (second largest in the world).
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