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BRIEF-Ossur announces three efficiency initiatives
September 26, 2017 / 6:18 AM / 25 days ago

BRIEF-Ossur announces three efficiency initiatives

Sept 26 (Reuters) - OSSUR HF:

* SAID ON MONDAY THAT IT HAS INITIATED 3 EFFICIENCY INITIATIVES IN THE AREAS OF MANUFACTURING, DISTRIBUTION, AND SOURCING

* 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

* IN ADDITION, TOTAL CAPITAL EXPENDITURES RELATED TO THE INITIATIVES ARE EXPECTED TO BE AROUND USD 4 MILLION

* ÖSSUR INTENDS TO INVEST A PORTION OF THE REALIZED SAVINGS IN R&D

* THESE MEASURES DO NOT IMPACT THE FULL YEAR 2017 GUIDANCE AS CO PROVIDES GUIDANCE ON EBITDA MARGIN BEFORE SPECIAL ITEMS

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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