The company said net sales for 2023 rose 6.5% from 2022, and currency changes had a negative 1.0% effect. Net earnings from continuing operations were $1,024.0 million in 2023, compared with $290.2 million in 2022.

1. 01

   The company said net sales for 2023 rose 6.5% from 2022, and currency changes had a negative 1.0% effect. Net earnings from continuing operations were $1,024.0 million in 2023, compared with $290.2 million in 2022.

2. 02

   Zimmer Biomet cited higher net sales, favorable tax settlements and lower operating expenses as drivers of the increase in net earnings for 2023. Results for 2022 included $292.8 million in goodwill and intangible asset impairments and a $116.6 million loss on its investment in ZimVie.

3. 03

   The company said cash flow from operating activities from continuing operations was $1,581.6 million in 2023 (2022: $1,356.2 million). Cash used in investing activities from continuing operations was $778.9 million, and it repurchased $692.2 million of its shares.

4. 04

   The company said it expects full-year 2024 revenue to grow at mid-single digits and currency to negatively affect net sales by about 0.5%. As of December 31, 2023, total debt was $5,767.9 million, of which $900.0 million was current debt.

Key figures

Fiscal year ended December 31, 2023

Revenue

$7.4B

Operating income

$1.3B

Net income

$1.0B

EPS

$4.88

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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