Investor Relations

Today, Ambu announces preliminary Q3 2023/24 results and upgrades its expectations for the full financial year 2023/24. Due to better-than-expected performance in Q3, Ambu increases its financial outlook for organic revenue growth to 12-14% (previously 10-12%) and for EBIT margin before special items to 11-13% (previously 10-12%). The better-than-expected performance is driven by continued strong growth in Endoscopy Solutions, solid growth in Anaesthesia & Patient Monitoring and improved operational leverage, in line with Ambu’s transformation plan.

In addition, the company raises its free cash flow expectations to DKK +450m (previously DKK +370m).
 

PRELIMINARY AND UNAUDITED FINANCIAL HIGHLIGHTS FOR Q3 2023/24

Last year’s comparative figures are stated in brackets.

• Revenue was DKK 1,383m (DKK 1,195m), with organic revenue growth of 15.0% (8.1%), driven by continued strong growth in Endoscopy Solutions and solid growth in Anaesthesia & Patient Monitoring. Reported growth for the quarter was 15.7% (5.9%). Year-to-date, organic growth was 14.9% (5.4%), with reported growth of 13.9% (7.2%).
• EBIT before special items was DKK 178m (DKK 91m), and year-to-date was DKK 498m (DKK 205m). EBIT margin before special items was 12.8% (7.6%) and ended year-to-date at 12.4% (5.8%). The increase in EBIT margin was primarily due to organic revenue growth and targeted efforts within Ambu’s transformation agenda, aligned with the company’s ZOOM IN strategy.
• Free cash flow was DKK 163m (DKK 157m), bringing the year-to-date free cash flow to DKK 426m (DKK 4m).

REVISED OUTLOOK FOR THE FISCAL YEAR 2023/24

Driven by the development in the first nine months of the 2023/24 financial year, Ambu’s 2023/24 financial outlook is set as per below:
 

In addition, Ambu’s free cash flow expectations are set for DKK +450m (previously DKK +370m). Expectations for Endoscopy Solutions organic revenue growth are now +18% (previously +15%).

Ambu will publish its full Q3 2023/24 interim earnings results on 30 August 2024, as previously announced.


Download the full company announcement here.

The new clearance marks Ambu’s rapidly growing presence in urology, advancing the company’s urology portfolio in the U.S. market.

Today, Ambu announces 510(k) regulatory clearance from the U.S. Food & Drug Administration (FDA) for its ureteroscopy solution, consisting of the single-use ureteroscope, aScope™ 5 Uretero, and the full-HD endoscopy system, aBox™ 2.

The aScope™ 5 Uretero is designed to function as an all-purpose endoscope for urologists performing ureteroscopy procedures, both diagnostically and therapeutically. It is developed in collaboration with leading urologists for multifaceted use, versatility and reliability, requiring high-quality imaging, robustness and manoeuvrability.

From development and manufacturing to distribution and sale, Ambu oversees the entire product lifecycle for its full endoscopy portfolio. Back in November 2023, the company obtained CE mark of the new ureteroscopy solution in Europe. Following the FDA clearance, the company will proceed with a controlled market release in the U.S., where the solution will be evaluated in selected healthcare centres. Ambu expects to initiate a full-scale global launch by the end of the 2023/24 financial year.

"As an endourologist, I am excited to work with Ambu’s growing single-use endoscopy portfolio. The quality and performance of Ambu’s current aScope 4 Cysto has been an asset to my practice and the system I work in. I am confident that aScope 5 Uretero will provide similar value. The aScope 5 Uretero incorporates a variety of interesting features, including improved optics, small size and it being the first ureteroscope manufactured with bioplastics. I look forward to testing the clinical performance of aScope 5 Uretero in a variety of endourologic procedures."

DR. MICHAEL PALESE
Mount Sinai, New York, NY, USA

The ureteroscopy solution represents an advancement of Ambu’s urology portfolio in the U.S. market. Building on the success of Ambu’s cystoscopy solution, the aScope 4 Cysto, since 2020, the new ureteroscopy solution reflects a target market expansion of approximately 1 million annual procedures globally.

FUELLING THE TRANSITION TOWARDS SINGLE-USE
Ureteroscopy procedures primarily address kidney stones, strictures or cancer in the upper urinary tract, requiring a thin, flexible endoscope to pass through the urethra and bladder to the ureter. Single-use ureteroscopes remove the necessity for maintenance, due to breakage of the thin scope, and thereby present a strong potential for urologists and health systems to reduce downtime and enhance workflow efficiency.

Furthermore, Ambu’s ureteroscope is the world’s first ureteroscope made with bioplastics - materials derived from a mix of fossil-based and second-generation feedstock, e.g., recycled food waste. As previously communicated, Ambu plans to integrate bioplastics in the handles of its entire fleet of endoscopes by the end of 2024 – as the first and only endoscopic solutions provider in the world.

CEO Britt Meelby Jensen is excited about the U.S. clearance and the inherent prospects of fuelling the transition towards single-use with an expanded urology portfolio:

"This clearance in the U.S. of our new ureteroscopy solution not only demonstrates a market expansion for Ambu; it is a testament to the progressive shift towards single-use solutions within the field of urology. I am confident that our continuous technology advancements will rapidly pave the way for better and more efficient patient care in the future – improving outcomes for patients, physicians and health systems alike."

BRITT MEELBY JENSEN
Chief Executive Officer, Ambu

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Download and read the full press release here.

Henrik Birk steps down from his position as Chief Operations Officer at Ambu. Former Novozymes COO, Graziela Malucelli, takes on the position, effective immediately.

Effective today, Ambu appoints Graziela Malucelli as the company’s new Chief Operations Officer (COO). She succeeds Henrik Birk who will regrettably be stepping down, due to personal circumstances, a decision made with the support of Ambu’s Executive Management. 

During Henrik Birk’s time at Ambu, he has been a truly respected leader with a great impact on Ambu teams and operations worldwide. However, given Henrik’s pressing personal priorities, he and CEO Britt Meelby Jensen have collaboratively agreed that this transition serves the best interests of both Henrik and the organisation.

"I am sad to be saying goodbye to Henrik, and I extend my heartfelt gratitude to him for his positive impact on Ambu. As Graziela Malucelli steps into the COO role, I am thrilled that we have been able to secure such a highly accomplished leader. I am confident that Graziela’s dynamic leadership and extensive operational expertise will take our organisation to the next level, as she leverages her extensive capabilities and expertise in driving global operations at scale."

BRITT MEELBY JENSEN
Chief Executive Officer

HIGHLY EXPERIENCED COO TO SPEARHEAD AMBU'S GLOBAL OPERATIONS

Taking on the role as Chief Operations at Ambu will be Graziela Malucelli, former COO at Novozymes. At Ambu, Graziela will step into Ambu’s Executive Leadership Team, dedicated to leading Ambu’s global operations teams and ensuring efficient innovation scale-up, reliable market supply and sustainable profitable growth.

Graziela is a highly experienced operational leader, possessing 25 years of experience leading large-scale operational teams across Europe, Asia-Pacific, Latin-America and North America. During her decades-long and notable career at Novozymes, she has held several key leadership roles. In her most recent position as COO, she successfully drove profitable growth and operational excellence across more than 15 global sites, supplying customers with innovative solutions to 140 markets and leading over 3,500 team members.

Above all, she is a purpose-driven and forward-thinking leader, with a strong strategic mindset, a keen customer focus and a passion for driving transformational change. Alongside her results-oriented leadership approach, she has a proven track-record of fostering engaged and collaborative global teams, and she is excited to join Ambu to make her mark on the company’s growth journey:

"I’m honoured and excited to take on the position as COO and to get the opportunity to contribute with my experience to strengthen Ambu’s position as the leader in single-use endoscopy, in our shared efforts to save lives. Together with Britt Meelby Jensen, the Executive Leadership Team and the talented Ambu colleagues, I am looking forward to bringing innovative healthcare solutions to patients and healthcare providers around the world."

GRAZIELA MALUCELLI
New Chief Operations Officer

Read the press release here.