AMBU B Ambu A/S Class B

AMBU ANNOUNCES PRELIMINARY FINANCIAL RESULTS FOR THE FISCAL YEAR 2022/23

AMBU ANNOUNCES PRELIMINARY FINANCIAL RESULTS FOR THE FISCAL YEAR 2022/23

Today, Ambu announces its preliminary financial 2022/23 results. For the financial year 2022/23, EBIT before special items totalled DKK 302m, with an EBIT margin before special items of 6.3% (previous outlook: 5 – 6%), mainly driven by scale in OPEX and product mix.



PRELIMINARY FINANCIAL HIGHLIGHTS FOR THE FULL FINANCIAL YEAR 2022/23

Last year’s comparative figures are stated in brackets.

  • Revenue was DKK 4,775m (DKK 4,444m), with organic growth of 7.6% (4%), driven by strong growth in Endoscopy Solutions. Reported growth for the year was 7.4% (11%). 
  • Gross margin was 56.8% (57.5%), mainly impacted by a strengthened product mix, driven by Endoscopy Solutions.
  • EBIT before special items was DKK 302m (DKK 122m), corresponding to a margin of 6.3% (2.7%), mainly driven by scale in OPEX.



Based on the preliminary full-year 2023/23 results, Ambu’s organic revenue growth and EBIT margin before special items are as follows:

 Previous outlook9 October 2023
Organic revenue growth6 - 8%7.6%
EBIT margin before special items5 - 6%6.3%



The stated preliminary results for the full financial year 2022/23 are unaudited.

Ambu will release its Annual Report on 8 November 2023.







Ambu A/S

Baltorpbakken 13 2750 Ballerup 

Denmark

Tel.  

CVR no.: 63 64 49 19





CONTACT



Investors 


Anders Hjort 

Head of Investor Relations

 

Media 

Tine Bjørn Schmidt

Head of Corporate Communications







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.



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09/10/2023

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Reports on Ambu A/S Class B

ABGSC Healthcare Research ... (+2)
  • ABGSC Healthcare Research
  • Morten Larsen

Flattening revenues AND bulky valuation

Q2 largely inline with pre-announcement. Q2 was the peak for growth, H2 revenues flattening out. At 71x P/E Ambu needs time to grow into its bulky valuation.

Jesper Ingildsen
  • Jesper Ingildsen

Ambu (Buy, TP: DKK138.00) - Guidance still looks conservative

Having pre-released Q2 headline numbers and increased the 2024 guidance in mid-April, today’s detailed results provided few surprises. However, the important Endoscopy sales were slightly better than expected, and we find today’s guidance for >15% organic growth YOY (previously c15%) for that part of company still conservative, with potential for a further rise with the Q3 results. We reiterate our BUY and have increased our target price to DKK138 (130).

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