We achieved 6% organic growth driven by strong performance in Prosthetics & Neuro Orthotics and delivered a robust EBITDA margin of 20%, reflecting operational efficiency and effective cost control. These results underscore the strength of our business model and our ability to operate in a dynamic environment.

We continued to advance our Growth’27 strategy through a combination of innovative solutions, market expansion, and operational execution. A key milestone during the year was the acquisition of a majority share in Streifender ortho.production, positioning Embla Medical as a full-range provider. This investment strengthens our presence in key markets and expands our reach in less developed healthcare markets – enabling us to better support clinicians, customers and, most importantly, reach more patients.

Innovation remains at the heart of our progress. In 2025, we introduced new solutions across our portfolio of leading global brands: Össur, College Park and Fior & Gentz. Our innovations have improved millions of lives and created lasting value for patients and healthcare systems. Yet, there is so much more we can do to reach more people with even more impactful solutions, and we are fortunate to have one of the most innovative teams in the industry leading the way.

We also strengthened our foundation in Patient Care following a year with lower-than-expected growth, as we undertook important changes to better support patients and clinicians over the long term. With the global rollout of our ForMotion brand and the implementation of new performance management systems nearing completion, our focus is on creating the best possible environment for clinicians to deliver exceptional patient care and on ensuring optimal outcomes for patients. These efforts position our Patient Care business to return to a stronger growth trajectory in 2026.

One particularly meaningful milestone was the opening of a new clinic in Kyiv. Establishing a presence in Ukraine underscores our commitment to ensuring access to high-quality mobility care and reflects our belief that mobility is fundamental to dignity and independence.

During the year, we were honored to receive multiple awards and accolades, not only for our products and innovation capabilities but also our broader commitment to responsible growth. This includes being named one of TIME Magazine‘s World‘s Best Companies in Sustainable Growth. These recognitions are a testament to the dedication of our employees and the trust placed in us by customers, partners, and end-users around the world.

While the global environment remains challenging, we stay grounded and focused on what we can control. What has not changed, and will not change, is the need for what we do. People around the world continue to count on us to improve their mobility, and our purpose remains as strong as ever.

As we look ahead, we remain confident in our strategy and our ability to navigate change while creating value for patients, customers, employees, healthcare systems and shareholders. The underlying drivers of demand - an aging population, rising incidence of mobility-limiting conditions and growing expectations for quality of life, remain firmly in place. Our focus is clear: putting patients first. We will continue to innovate, collaborate, and invest in solutions that help people live life without limitations.

I would like to sincerely thank our employees, customers, end-users, and shareholders for their trust and continued collaboration. Together, we are shaping a future where more people can live a life with greater mobility, independence, and confidence.

Sveinn Sölvason
President and CEO