Embla Medical – Presentation of the Annual Report 2025

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Embla Medical will publish its Annual Report for 2025 on 3 February 2026. At 10:30 CET, CEO Sveinn Sölvason will present the results, comment on the most important developments in the business, and provide the company’s outlook for 2026, followed by a live online Q&A session.

Embla Medical delivered steady progress in 2025 with 5% organic growth for the first nine months, supported by continued strong momentum in Prosthetics & Neuro Orthotics. Growth remained solid in EMEA and APAC and recovered in the Americas during the third quarter. Profitability improved during the period and the company reached an EBITDA margin of 21% for the first nine months, although FX and tariff dynamics continued to have some impact on margins. Management noted during the Q3 call that growth had picked up as expected, supported by strong performance in high-end solutions.

For the full year, Embla reiterated its outlook of 5–6% organic growth and an EBITDA margin of 20–21% and highlighted that the guidance already assumes some absorption of US tariffs while the exact effect remains uncertain. Market expectations for 2025 are broadly aligned with this outlook.

Investor attention will be centered on the new guidance for 2026 and how the company balances the strong underlying momentum in core segments with the softer trends in Bracing & Supports and Patient Care. Focus will also be on the assumptions related to tariffs, currency movements and the commercial uptake of recent innovations, all of which are expected to influence how the 2025 performance transitions into 2026.

Consensus numbers indicate that analysts expect continued revenue growth and further margin improvement into 2026. Consensus expectations appear consistent with Embla Medical’s long-term Growth’27 targets, which point to 5–7% annual organic growth and a gradual strengthening of the EBITDA margin over time.

Disclaimer: HC Andersen Capital receives payment from Embla Medical for a Corporate Visibility/Digital IR subscription agreement. Michael Friis 10.43, 19/12-2025.