Embla Medical – Presentation of the H1 2026 Interim Report
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Embla Medical will publish its interim report for H1 2026 on 21 July 2026. At 10:30 CET, CEO Sveinn Sölvason will present the results, comment on the most important developments in the business, and provide an update on the company's outlook for the remainder of 2026, followed by a live online Q&A session.
Embla Medical reported Q1 2026 organic growth of 4% and an EBITDA margin of 17%, both below the full-year guidance range of 5–8% organic growth and 20–22% EBITDA margin. FX headwinds of approximately 50 basis points net of hedging and tariff costs concentrated in the Bracing segment were the primary margin drivers. Prosthetics & Neuro Orthotics grew 9% organically, while Bracing & Supports posted 1% and Patient Care declined 1%.
For full-year 2026, management has maintained guidance of 5–8% organic sales growth and an EBITDA margin of 20–22% before special items, broadly consistent with the company's Growth'27 long-term targets. The guidance assumes some tariff absorption and implies a meaningful acceleration in both growth and margins in the second half.
Management indicated in connection with the Q1 2026 report, that Patient Care is the primary swing factor: a return to at-market growth rates in the segment is the key condition for delivering operating leverage on the existing cost base and reaching the upper end of the margin range. In Q1, the Americas Patient Care business recovered following H2 2025 restructuring initiatives, while Europe underperformed on timing effects. With H1 results in hand, investors will be looking for confirmation that European Patient Care has normalised, that the US recovery has sustained, and that the segment as a whole is delivering the top-line contribution that management has identified as the prerequisite for meaningful margin improvement in the second half.
In addition to the Patient Care trajectory, investors are also likely to focus on the US ramp-up of Bionics and Neuro Orthotics, early volume data from the K2 Medicare reimbursement expansion, the tariff environment including the status of the US Section 232 investigation into medical devices, and Streifeneder margin progression as integration matures.
Embla Medical is a leading global provider of innovative mobility solutions operating across Prosthetics & Neuro Orthotics, Bracing & Supports, and Patient Care, with brands including Össur, College Park, Fior & Gentz, and ForMotion, serving patients across more than 100 countries.
Disclaimer: HC Andersen Capital receives payment from Embla Medical for a Corporate Visibility/Digital IR subscription agreement. /Michael Friis, 09.04 16/06-2026.
