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Ambu
Earnings Release • Jul 10, 2023
3353_iss_2023-07-10_73075baa-f0a7-4078-bef7-574f917839c6.pdf
Earnings Release
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COMPANY ANNOUNCEMENT NO. 10 2022/23
10 July 2023
AMBU UPGRADES FULL-YEAR EARNINGS EXPECTATIONS ON THE BACK OF PRELIMINARY Q3 2022/23 RESULTS
Ambu raises its expectations for EBIT margin before special items to 5 - 6% (previously 3 - 5%) for the full-year 2022/23, based on its preliminary Q3 results. For Q3 2022/23, EBIT before special items totalled DKK 91m (DKK 42m), with an EBIT-margin before special items of 7.6% (3.7%), mainly driven by a better-than-expected gross margin, based on product mix and lower distribution costs.
PRELIMINARY FINANCIAL HIGHLIGHTS FOR Q3 2022/23
Last year's comparative figures are stated in brackets.
- • Revenue was DKK 1,195m (DKK 1,128m), with organic growth of 8% (8%), driven by strong growth in Endoscopy Solutions. Reported growth for the quarter was 6% (16%). Year-to-date, organic growth was 5% (5%), with reported growth of 7% (10%).
- • Gross margin was 56.2% (55.8%) and 56.8% (58.2%) year-to-date. The gross margin is mainly impacted by a strengthened product mix, compared to plan, driven by Endoscopy Solutions.
- • EBIT before special items was DKK 91m (DKK 42m), corresponding to a margin of 7.6% (3.7%). Year-to-date, EBIT before special items ended at DKK 205m (DKK 129m), corresponding to a margin of 5.8% (3.9%), mainly driven by the gross margin and lower distribution costs.
REVISED OUTLOOK FOR THE FISCAL YEAR 2022/23
Based on the Q3 results, Ambu maintains its guidance on organic revenue growth and raises its guidance on EBIT margin before special items as per below:
| Outlook FY 2022/23 | Previously | July 10, 2023 |
|---|---|---|
| Organic revenue growth | 5 - 8% | 5 - 8% |
| EBIT margin before special items | 3 - 5% | 5 - 6% |
The stated preliminary results for Q3 2022/23 are unaudited. Ambu will release its full Q3 2022/23 interim earnings results, as expected, on 31 August 2023.
Ambu A/S, Baltorpbakken 13 2750 Ballerup Denmark Tel. +45 7225 2000 CVR no.: 63 64 49 19 www.Ambu.com
Contact information: Media Tine Bjørn Schmidt Head of Corporate Communications [email protected]
+45 2264 0697
Investors Nicolai Thomsen Director, Investor Relations & Strategic Finance [email protected] +45 2620 8047
ABOUT AMBU
Since 1937, Ambu has been rethinking solutions, together with healthcare professionals, to save lives and improve patient care. Today, millions of patients and healthcare professionals worldwide depend on the efficiency, safety and performance of our single-use endoscopy, anaesthesia and patient monitoring solutions. Headquartered near Copenhagen in Denmark, Ambu employs around 4,500 people in Europe, North America, Latin America and Asia Pacific. For more information, please visit Ambu.com.