SPY389.64+9.28 2.44%
DIA316.18+6.73 2.17%
IXIC13,538.19+345.85 2.62%

Press Release: Zimmer Biomet Announces Fourth -4-

· 02/05/2021 06:30
Total $2,085.3 $2,125.7 (1.9) % (1.0) % (2.7) % 1.8 % ZIMMER BIOMET HOLDINGS, INC. NET SALES BY GEOGRAPHY FOR THE YEARS ENDED DECEMBER 31, 2020 and 2019 (in millions, unaudited) Years Ended December 31, Volume Foreign 2020 2019 % (Dec) / Mix Price Exchange Americas $4,335.4 $4,875.8 (11.1) % (7.9) % (3.1) % (0.1) % EMEA 1,391.3 1,746.9 (20.4) (20.5) (0.8) 0.9 Asia Pacific 1,297.8 1,359.5 (4.5) (4.5) (1.5) 1.5 Total $7,024.5 $7,982.2 (12.0) % (10.0) % (2.4) % 0.4 % ZIMMER BIOMET HOLDINGS, INC. NET SALES BY PRODUCT CATEGORY FOR THE YEARS ENDED DECEMBER 31, 2020 and 2019 (in millions, unaudited) Years Ended December 31, Volume Foreign 2020 2019 % (Dec) / Mix Price Exchange Knees $2,389.8 $2,810.1 (15.0) % (12.6) % (2.7) % 0.3 % Hips 1,750.5 1,931.5 (9.4) (7.1) (2.8) 0.5 S.E.T 1,322.0 1,444.1 (8.4) (6.5) (2.3) 0.4 Dental, Spine & CMFT 1,043.7 1,161.3 (10.1) (9.4) (1.2) 0.5 Other 518.5 635.2 (18.4) (16.9) (1.9) 0.4 Total $7,024.5 $7,982.2 (12.0) % (10.0) % (2.4) % 0.4 % ZIMMER BIOMET HOLDINGS, INC. RECONCILIATION OF REPORTED NET SALES % CHANGE TO CONSTANT CURRENCY % CHANGE (unaudited) For the Three Months Ended December 31, 2020 Foreign Constant Exchange Currency % Change Impact % Change Geographic Results Americas (0.3) % - % (0.3) % EMEA (13.2) 4.3 (17.5) Asia Pacific 7.1 5.1 2.0 Total (1.9) % 1.8 % (3.7) % Product Categories Knees Americas 0.8 % - % 0.8 % EMEA (20.8) 3.3 (24.1) Asia Pacific 8.1 5.2 2.9 Total (3.1) 1.7 (4.8) Hips Americas 1.0 - 1.0 EMEA (12.2) 4.0 (16.2) Asia Pacific 6.2 4.9 1.3 Total (1.3) 2.1 (3.4) S.E.T (1.5) 1.8 (3.3) Dental, Spine & CMFT 2.6 1.8 0.8 Other (7.5) 1.8 (9.3) Total (1.9) % 1.8 % (3.7) % ZIMMER BIOMET HOLDINGS, INC. RECONCILIATION OF REPORTED NET SALES % CHANGE TO CONSTANT CURRENCY % CHANGE (unaudited) For the Year Ended December 31, 2020 Foreign Constant Exchange Currency % Change Impact % Change Geographic Results Americas (11.1) % (0.1) % (11.0) % EMEA (20.4) 0.9 (21.3) Asia Pacific (4.5) 1.5 (6.0) Total (12.0) % 0.4 % (12.4) % Product Categories Knees Americas (12.9) % (0.1) % (12.8) % EMEA (25.6) 0.6 (26.2) Asia Pacific (7.8) 1.3 (9.1) Total (15.0) 0.3 (15.3) Hips Americas (7.4) (0.1) (7.3) EMEA (18.4) 0.9 (19.3) Asia Pacific (3.4) 1.5 (4.9) Total (9.4) 0.5 (9.9) S.E.T (8.4) 0.4 (8.8) Dental, Spine & CMFT (10.1) 0.5 (10.6) Other (18.4) 0.4 (18.8) Total (12.0) % 0.4 % (12.4) % ZIMMER BIOMET HOLDINGS, INC. RECONCILIATION OF REPORTED TO ADJUSTED RESULTS FOR THE THREE MONTHS ENDED DECEMBER 31, 2020 and 2019 (in millions, except per share amounts, unaudited) FOR THE THREE MONTHS ENDED DECEMBER 31, 2020 Cost of products Net sold, Earnings excluding Restructuring Other Benefit of Zimmer Diluted intangible Intangible Selling, and other cost Acquisition, income for Biomet earnings asset asset Research and general and reduction Quality integration (expense), income Holdings, per common amortization amortization development administrative initiatives remediation and related net taxes Inc. share As Reported $647.3 $152.6 $100.0 $893.9 $27.7 $15.0 $8.1 $8.0 $(138.2) $333.7 $1.59 Inventory and manufacturing-related charges(1) (49.9) - - - - - - - 26.1 23.8 0.11 Intangible asset amortization(2) - (152.6) - - - - - - 38.5 114.1 0.55 Restructuring and other cost reduction initiatives(4) - - - - (27.7) - - - 9.8 17.9 0.09 Quality remediation(5) 1.0 - - - - (15.0) - - 4.6 9.4 0.04 Acquisition, integration and related(6) - - - - - - (8.1) - 2.5 5.6 0.03 Litigation(7) - - - (59.4) - - - - 18.2 41.2 0.20 European Union Medical Device Regulation(8) - - (6.2) - - - - - 2.0 4.2 0.02 Other charges(9) - - - (6.4) - - - (1.3) (0.4) 5.5 0.03 Impacts of Swiss tax reform(10) - - - - - - - - 16.6 (16.6) (0.08) Other certain tax adjustments(11) - - - - - - - - 98.1 (98.1) (0.47) As Adjusted $598.4 $- $93.8 $828.1 $- $- $- $6.7 $77.8 $440.7 $2.11 FOR THE THREE MONTHS ENDED DECEMBER 31, 2019 Cost of products Net sold, Earnings Diluted excluding Restructuring Benefit of Zimmer earnings intangible Intangible Selling, and other cost Acquisition, for Biomet per asset asset Research and general and reduction Quality integration income Holdings, common amortization amortization development administrative initiatives remediation and related taxes Inc. share As Reported $582.2 $147.4 $121.1 $882.2 $33.0 $19.3 $3.7 $(32.2) $320.7 $1.54 Inventory and manufacturing-related charges(1) (6.2) - - - - - - 3.5 2.7 0.01 Intangible asset amortization(2) - (147.4) - - - - - 31.2 116.2 0.56 Restructuring and other cost reduction initiatives(4) - - - - (33.0) - - 1.6 31.4 0.16 Quality remediation(5) (3.7) - - - - (19.3) - 5.4 17.6 0.08 Acquisition, integration and related(6) - - - - - - (3.7) 3.9 (0.2) -

(MORE TO FOLLOW) Dow Jones Newswires

February 05, 2021 06:30 ET (11:30 GMT)