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ZIMMER BIOMET HOLDINGS, INC.

(ZBH)
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Zimmer Biomet : áBiometáAnnouncesáSecondáQuarterá2021áFinancial Results

08/03/2021 | 06:43am EDT

345 E. Main St.

Warsaw, IN 46580

www.zimmerbiomet.com

Exhibit 99.1

Media

Investors

Meredith Weissman

Keri Mattox

(703) 346-3127

(215) 275-2431

meredith.weissman@zimmerbiomet.com

keri.mattox@zimmerbiomet.com

Ezgi Yagci

(617) 549-2443

ezgi.yagci@zimmerbiomet.com

Zimmer Biomet Announces Second Quarter 2021 Financial Results

  • Second quarter net sales of $2.027 billion increased 65.3%, 60.7% on a constant currency1 basis
  • Second quarter diluted earnings per share were $0.67; adjusted1 diluted earnings per share were $1.90
  • Company updates 2021 financial guidance, narrowing range for full year outlook

(WARSAW, IN) August 3, 2021 - Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH) today reported financial results for the quarter ended June 30, 2021. The Company reported second quarter net sales of $2.027 billion, an increase of 65.3% over the prior year period, and an increase of 60.7% on a constant currency basis. Second quarter 2021 net sales increased 1.9% when compared to the pre-pandemic second quarter 2019, and were flat on a constant currency basis. Net earnings for the second quarter of 2021 were $141.9 million, or $400.5 million on an adjusted basis.

Diluted earnings per share were $0.67 for the second quarter. Adjusted diluted earnings per share were $1.90 for the second quarter.

1 Reconciliations of these measures to the corresponding U.S. generally accepted accounting principles measures are included in this press release.

Page 1 of 27

"Our performance in the second quarter improved meaningfully from the first quarter 2021 across all regions and product categories as recovery from the global pandemic continued to take hold. While we anticipate some ongoing COVID-19 pressure, we expect continued improvement in procedure volume recovery through the second half of 2021," said Bryan Hanson, Chairman, President and CEO of Zimmer Biomet. "Against this backdrop, Zimmer Biomet has continued to execute, investing in our business, expanding our portfolio and developing and launching innovative products designed to improve mobility and health. This execution enables ZB to build and deliver value for our customers and shareholders and to move our mission forward for the patients we ultimately serve."

Please see the attached schedules accompanying this press release for additional details on performance in the quarter, including sales by Zimmer Biomet's three geographies and five product categories.

Recent Highlights

Aligned with the ongoing transformation of Zimmer Biomet's business, key recent highlights include:

  • Publication of the Zimmer Biomet Sustainability Report, aligned with Sustainability Accounting Standards Board (SASB) standards.
  • Receipt of key awards for Zimmer Biomet's portfolio including the ROSA Knee system for Best Technology Solution in Orthopedics by the Medtech Breakthrough Awards and Orthopaedic Product Innovation of the Year by the Healthcare Asia Medtech Awards. The TetherTM Vertebral Body Tethering System, a first-in-class treatment for children with scoliosis, was also Silver Winner in the 2021 Edison Best New Product Awards in the Advanced Surgical Instruments category.
  • Key additions to the Zimmer Biomet Leadership Team, including the appointment of Wilfred van Zuilen as President of Europe, Middle East and Africa (EMEA) and Nitin Goyal, M.D. to the newly created role of Chief Science, Technology and Innovation Officer.

Geographic and Product Category Sales

The following sales tables provide results by geography and product category for the three and six-month periods ended June 30, 2021, as well as the percentage change compared to the prior year period, on both a reported basis and a constant currency basis.

Page 2 of 27

NET SALES - THREE MONTHS ENDED JUNE 30, 2021

(in millions, unaudited)

Constant

Net

Currency

Sales

% Change

% Change

Geographic Results

Americas

$

1,239.6

69.0

%

68.3

%

EMEA

429.8

96.4

80.5

Asia Pacific

357.5

30.6

24.4

Total

$

2,026.9

65.3

%

60.7

%

Product Categories

Knees

Americas

$

400.3

81.4

%

80.6

%

EMEA

148.6

127.2

109.6

Asia Pacific

116.7

31.2

23.8

Total

665.6

77.5

72.2

Hips

Americas

258.1

51.3

50.4

EMEA

122.5

72.8

59.0

Asia Pacific

94.0

6.6

3.9

Total

474.6

44.0

39.9

S.E.T. *

462.1

57.9

53.0

Dental & Spine

263.5

73.1

69.4

Other

161.1

110.9

105.9

Total

$

2,026.9

65.3

%

60.7

%

* Sports Medicine, Extremities, Trauma, Craniomaxillofacial and Thoracic

Page 3 of 27

NET SALES - SIX MONTHS ENDED JUNE 30, 2021

(in millions, unaudited)

Constant

Net

Currency

Sales

% Change

% Change

Geographic Results

Americas

$

2,354.6

28.3

%

27.9

%

EMEA

814.0

32.0

21.9

Asia Pacific

705.7

26.4

19.9

Total

$

3,874.3

28.7

%

25.2

%

Product Categories

Knees

Americas

$

759.1

26.8

%

26.3

%

EMEA

279.9

28.4

19.0

Asia Pacific

240.9

29.0

21.0

Total

1,279.9

27.5

23.7

Hips

Americas

493.3

22.4

21.9

EMEA

230.2

26.3

17.1

Asia Pacific

198.1

12.0

7.6

Total

921.6

20.9

17.4

S.E.T. *

879.7

30.6

27.1

Dental & Spine

509.5

37.1

34.1

Other

283.6

42.9

39.2

Total

$

3,874.3

28.7

%

25.2

%

* Sports Medicine, Extremities, Trauma, Craniomaxillofacial and Thoracic

Financial Guidance

The Company is updating its full-year 2021 financial guidance to narrow its previous projected ranges

for revenue growth and adjusted diluted EPS:

Projected Year Ending December 31, 2021

Previous

Updated

Guidance

Guidance

2021 reported revenue growth

14.0%

- 17.0%

14.5%

- 16.5%

Foreign Currency Exchange Impact

1.5%

1.5%

Adjusted Operating Profit Margin(1)

26.5%

- 27.5%

26.5%

- 27.0%

Adjusted Tax Rate(1)

16.0%

- 16.5%

16.0%

- 16.5%

Adjusted Diluted EPS(1)

$7.60

- $8.00

$7.65

- $7.95

Page 4 of 27

These measures are non-GAAP financial measures for which a reconciliation to the

  1. most directly comparable GAAP financial measure is not available without unreasonable efforts. See "Forward-LookingNon-GAAP Financial Measures."

Conference Call

The Company will conduct its second quarter investor conference call today, August 3, 2021, at 8:30 a.m. ET. The audio webcast can be accessed via Zimmer Biomet's Investor Relations website at https://investor.zimmerbiomet.com. It will be archived for replay following the conference call.

About the Company

Zimmer Biomet is a global medical technology leader with a comprehensive portfolio designed to maximize mobility and improve health. We seamlessly transform the patient experience through our innovative products and suite of integrated digital and robotic technologies that leverage data, data analytics and artificial intelligence.

With 90+ years of trusted leadership and proven expertise, Zimmer Biomet is positioned to deliver the highest quality solutions to patients and providers. Our legacy continues to come to life today through our progressive culture of evolution and innovation.

For more information about our product portfolio, our operations in 25+ countries and sales in 100+ countries or about joining our team, visit www.zimmerbiomet.comor follow Zimmer Biomet on Twitter at www.twitter.com/zimmerbiomet.

Website Information

We routinely post important information for investors on our website, www.zimmerbiomet.com, in the "Investor Relations" section. We use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investor Relations section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website or any other website referenced herein is not incorporated by reference into, and is not a part of, this document.

Note on Non-GAAP Financial Measures

This press release includes non-GAAP financial measures that differ from financial measures calculated in accordance with U.S. generally accepted accounting principles ("GAAP"). These non-

Page 5 of 27

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Zimmer Biomet Holdings Inc. published this content on 03 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2021 10:42:05 UTC.


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Financials (USD)
Sales 2021 8 099 M - -
Net income 2021 972 M - -
Net Debt 2021 6 473 M - -
P/E ratio 2021 33,0x
Yield 2021 0,63%
Capitalization 31 648 M 31 648 M -
EV / Sales 2021 4,71x
EV / Sales 2022 4,30x
Nbr of Employees 20 000
Free-Float 66,7%
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Technical analysis trends ZIMMER BIOMET HOLDINGS, INC.
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 31
Last Close Price 151,23 $
Average target price 188,07 $
Spread / Average Target 24,4%
EPS Revisions
Managers and Directors
Bryan C. Hanson Chairman, President & Chief Executive Officer
Suketu P. Upadhyay Chief Financial Officer & Executive Vice President
Zeeshan Tariq Chief Information Officer & Senior Vice President
Nitin Goyal Chief Science, Technology & Innovation Officer
Ivan Tornos Chief Operating Officer
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