Ambu A/S : RAISES OUTLOOK FOR THE 2023/24 FINANCIAL YEAR
April 10, 2024 at 03:35 pm EDT
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Published: 2024-04-10 21:27:06 CEST
Ambu A/S
Inside information
AMBU RAISES OUTLOOK FOR THE 2023/24 FINANCIAL YEAR
10.4.2024 21:27:06 CEST | Ambu A/S | Inside information
Today, Ambu announces preliminary results for the first half-year of 2023/24 and adjusts its expectations for the full financial year 2023/24. As a result of solid financial performance year-to-date and expected continued momentum in revenue growth, Ambu increases its financial outlook for organic revenue growth to 10-12% (previously 7-10%) and for EBIT margin before special items to 10-12% (previously 8-10%).
In addition, the company raises its free cash flow expectations to DKK +370m (previously DKK +270m).
The raised outlook is mainly driven by better-than-expected outcomes of contract negotiations in Anaesthesia & Patient Monitoring, strong organic growth in Endoscopy Solutions and continued strengthened operational leverage.
PRELIMINARY AND UNAUDITED FINANCIAL HIGHLIGHTS FOR Q2 2023/24
Last year's comparative figures are stated in brackets.
Revenue was DKK 1,367m (DKK 1,189m), with organic revenue growth of 15.5% (4.2%). Reported growth for the quarter was 15.0% (6.0%). Year-to-date, organic growth was 14.9% (4.0%), with reported growth of 12.9% (7.8%).
EBIT before special items was DKK 194m (DKK 46m) and year-to-date was DKK 320m (DKK 114m). EBIT margin before special items was 14.2% (3.9%) and ended year-to-date at 12.2% (4.9%). The strengthened EBIT margin was mainly driven by organic growth in revenue and operational leverage on OPEX, although partially offset by increased investments in resources to drive organic growth. The investments in resources are expected to increase for the remaining financial year.
Free cash flow was DKK 128m (DKK 21m), bringing the year-to-date free cash flow to a total of DKK 263m (DKK -153m).
REVISED OUTLOOK FOR THE FISCAL YEAR 2023/24
Driven by the development in the first half of the 2023/24 financial year, Ambu's 2023/24 financial outlook is set as per below:
Outlook FY 2023/24
10 April 2024
Previously
Organic revenue growth
10-12%
7-10%
EBIT margin before special items
10-12%
8-10%
In addition, Ambu's free cash flow expectations are set for DKK +370m (previously DKK +270m), while the expectation for Endoscopy Solutions organic revenue growth is maintained at ~15%.
Ambu will publish its full Q2 and half-year 2023/24 interim results, as previously announced, on 14 May 2024.
Contacts
Anders Hjort, Head of Investor Relations, +45 2892 8881, anhj@ambu.com
Tine Bjørn Schmidt, Head of Corporate Communications, +45 2264 0697, tisc@ambu.com
About Ambu A/S
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 4,600 people in Europe, North America, Latin America and Asia Pacific.
For more information, please visit Ambu.com.
Attachments:
Ambu raises outlook for the 2023-24 financial year - Company announcement no 10 2023-24.pdf
Download announcement as PDF.pdf
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10 April 2024 and is solely responsible for the information contained therein. Distributed by
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10 April 2024 19:34:06 UTC.
Ambu A/S is specialized in the design, production and marketing of medical supplies. Net sales break down by family of products as follows:
- single-use endoscopes (56.3%);
- emergency care and resuscitation devices (22.9%): mechanical ventilation devices (insufflators, laryngeal masks, facial masks and respiratory bags), secretion aspirators, immobilization devices, etc. In addition, the group sells dummies for first aid training centers;
- monitoring and diagnostic devices (20.8%): including electrodes used in the fields of cardiology, neurophysiology and first aid.
At the end of September 2023, Ambu A/S had four production sites located in China, Malaysia, the United States and Mexico.
Net sales are distributed geographically as follows: Denmark (1.2%), Europe (37.8%), the United States (49.5%), North America (1.3%) and other (10.2%).
AMBU A/S 
