Investor Relations

Copenhagen, Denmark, 6 May 2026 – Ambu A/S is initiating a new share buyback program, under which Ambu will repurchase shares for a total amount of up to DKK 300m from 6 May 2026 until no later than 30 September 2026. 

The share buyback program is being launched within the authority granted by the shareholders at the annual general meeting held on 14 December 2022, for the repurchase of up to 10% of the company’s share capital, provided that the purchase price does not deviate by more than 10% from the most recently quoted market price for the company’s B-shares at the time of the acquisition. Prior to the launch of the share buyback program, Ambu holds 4,195,158 treasury shares, equal to 1.6% of the company’s share capital. 

The share buyback program is carried out in accordance with Article 5 of Regulation No 596/2014 of the European Parliament and Council of 16 April 2014 (MAR) (as amended) and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016, also referred to as the Safe Harbor Regulations, with the purpose of completing a share capital decrease as set out in Article 5(2)(a) in MAR. 

Ambu has retained Nordea Bank to act as lead manager of the share buyback program and purchase shares on behalf of Ambu. Nordea Bank has also agreed under the contract to make its trading decisions in relation to the shares in the company independently of, and without influence by, the company.

Ambu will be entitled to suspend the share buyback program at any time. Should the share buyback program be suspended, Ambu will announce this in a company announcement, and the manager will stop buying back shares in the market. The repurchased shares are bought with the aim of future cancellation. 

Terms of the share buyback program 
Under the share buyback program, Ambu may repurchase shares up to a maximum amount of DKK 300m, and no more than 6,000,000 shares, corresponding to approximately 2.2% of the share capital of the company.

The shares will be purchased on Nasdaq Copenhagen (XCSE) and Multilateral Trading Facilities from time to time, including Cboe DXE (CEUX), Turquoise Europe (TQEX), and Aquis (AQEU). 

The shares bought back on each trading day may not exceed 15% of the average daily trading volume over the 20 trading days preceding the date of purchase. 

Shares acquired under the share buyback program may not be bought at a price exceeding the higher of (i) the share price of the last independent transaction, and (ii) the highest independent bid on the shares on the trading venue where the transaction is executed. Further, shares may not be bought at a price deviating by more than 10% from the official price quoted on Nasdaq Copenhagen at the time of acquisition for the company’s B-shares. 

In accordance with the Safe Harbor Regulations, Ambu will as a minimum for every seventh trading day issue an announcement in respect of transactions made under the share buyback program. 

Download the company announcement here.

In Q2 2025/26, Ambu delivered organic revenue growth of 7.3%. Growth was driven by continued strong performance in the market‑leading Endoscopy Solutions business, which grew 13.8% organically, while Anesthesia & Patient Monitoring (A&PM) declined by 2.5%. Reported EBIT (b.s.i.) was DKK 173m, corresponding to an EBIT margin of 11.0%.

For FY 2025/26, Ambu now expects organic revenue growth of 10-12% (previously 10-13%). The adjustment is driven by the decline year-to-date in A&PM, resulting in an updated full-year growth outlook of low-single-digits for A&PM (previously mid-single-digits). The EBIT margin guidance of 12-14% remains unchanged. 

“Q2 was solid for our Endoscopy Solutions business, with growth across all areas, underpinning our confidence in delivering on our ZOOM AHEAD strategy and advancing toward achieving global endoscopy leadership. Respiratory continued its growth trajectory, fueled by increasing momentum with SureSight™, which helps clinicians manage airway intubations efficiently and confidently. In Urology, ENT, & GI, we continued to drive the conversion from reusable to single-use endoscopes. Our legacy businesses, Anesthesia & Patient Monitoring, were weaker than expected, pulling the total revenue growth down.  

We continue to generate strong free cash flow and have a solid balance sheet. Following the completion of the share buyback program introduced with our Q4 2024/25 results, we are announcing an additional share buyback of DKK 300m, in alignment with our Finance Policy.” 

Britt Meelby Jensen 
Chief Executive Officer

Financial highlights for Q2 

• Revenue increased organically by 7.3% (11.7%) to DKK 1,573m (DKK 1,554m), with reported growth of 1.2% (13.7%).  
• Endoscopy Solutions increased organically by 13.8% (13.1%) and by 14.1% (16.7%) for H1. The Respiratory business group posted 12.2% (8.5%) organic growth, reflecting solid momentum. SureSight continued to drive strong momentum, with further progress expected over the coming quarters. The Urology, ENT, & GI business group posted 15.5% (18.3%) organic growth, negatively impacted by order timing from last quarter.  
• Anesthesia & Patient Monitoring posted an organic growth decline of 2.5% (9.8%), reflecting  strong sales performance in the same period last year. Additionally, growth was affected by lower volumes in selected U.S. accounts operating under non-exclusive contracts.  
• Revenue growth was driven by solid organic growth in Europe and Rest of World, posting 7.9% (11.5%) and 10.7% (7.9%). North America delivered growth of 6.1% (12.4%), with strong performance in Endoscopy Solutions, offset by lower volumes in non-exclusive contracts in A&PM. 
• EBIT before special items (b.s.i.) was DKK 173m (DKK 224m), with an EBIT margin b.s.i. of 11.0% (14.4%), the latter negatively impacted by tariff costs and FX headwind. Adjusting for tariff costs and FX, Ambu generated an EBIT margin of 14.5% in the quarter, demonstrating continued operational leverage in our business model.  
• Free cash flow (FCF) before acquisitions totaled DKK 104m for Q2 (DKK 80m). This was driven by solid operational performance alongside an improved working capital compared to revenue. As expected, FCF was negatively impacted by FX headwind and tariff costs.  
• An additional share buyback program will be initiated, under which Ambu will repurchase shares for a total amount of up to DKK 300m from 6 May 2026 until no later than 30 Sep. 2026. 

Business highlights for Q2 

• CE mark obtained for the full SureSight video laryngoscope portfolio in Europe. 
• Strengthened cystoscopy portfolio with a solution accessory enabling stent removal and foreign body retrieval, complementing aScope™ Cysto. 
• SureSight won the Red Dot Award: Product Design 2026, emphasizing the solution’s high design quality and coherent system architecture. 
• Expanded EndoIntelligence™ investments to deliver differentiated, high‑impact solutions for clinicians, hospitals, and health systems. 
• Enhancements implemented in the U.S. commercial organization to better serve health systems with our integrated and scalable endoscopy solutions offering. 
• Accelerated ramp-up of the Mexico manufacturing facility to support North America growth. 
• President of EMEA & APAC, Bassel Rifai, has decided to leave Ambu to pursue new opportunities. The change is not expected to impact commercial execution in Europe or APAC, supported by strong established regional leadership. 

2025/26 financial guidance updated 

• Organic revenue growth: 10-12% (previously 10-13%)  
• EBIT margin b.s.i.: 12-14%¹ 

¹  14-16% excluding assumed impacts of ~2%-pts, given the current schedule of expected tariffs. Mitigation actions, including investing in Americas, are ongoing, and the effect will diminish over the coming years.
 

Q2 2025/26 conference call 
A conference call is broad cast live today, 6 May 2026 at 11:00 (CEST),  
via Ambu.com/webcastQ22026. To ask questions during the Q&A session, please register prior to the call via Ambu.com/conferencecallQ22026register. Upon registration, you will receive an email with information to access the call. 

The presentation can be downloaded at Ambu.com/presentations. 

Read the Interim report for Q2  and H1 2025/26 here

International Red Dot jury recognizes the design excellence of Ambu’s newly launched video laryngoscope solution, SureSight™, emphasizing its coherent system architecture.

Copenhagen, Denmark, 30 April 2026 – Ambu, the global market leader in single-use endoscopy, today announces that its SureSight video laryngoscope solution has received the prestigious Red Dot Design Award: Product Design 2026, one of the world’s most respected distinctions for high design quality.

The Red Dot Jury selected SureSight from a global field of submissions, recognizing the solution for its coherent system architecture, which combines ergonomic instrument handling and reliable high-quality imaging with a modular system.

The award reinforces Ambu’s strong focus on translating real customer needs into customer‑centric design as a foundation for developing differentiated solutions. Through deliberate design choices, Ambu continues to improve even well‑established clinical concepts and strengthen its leading offering within Respiratory.

SureSight is designed as a unified solution for difficult intubations, developed to support clinicians in time‑critical airway situations where reliability, ease of use, and clear visualization are essential. The solution consists of two video laryngoscopes, SureSight Connect and SureSight Mobile, and ten single-use SureSight blades, together forming a coherent solution with integrated imaging as well as procedural photos and video transfer capabilities to ease documentation.

Designed as a part of Ambu’s Respiratory platform, it can be used on its own as a video laryngoscope or together with Ambu bronchoscopes in a dual‑view setup on Ambu’s endoscopy systems. By bringing video laryngoscopy and bronchoscopy together on a single technology platform, clinicians can work with familiar interfaces and obtain efficient workflows whether in the operating room, ICU, or emergency settings. This integrated approach reduces setup complexity and helps clinical teams stay focused on the patient.

“This Red Dot Design Award is a testament to Ambu’s ability to design solutions that stand out to our customers,” says Britt Meelby Jensen, Chief Executive Officer of Ambu. “SureSight reflects our strong customer‑centric approach and a focus on developing differentiated solutions grounded in real clinical needs. I’m very proud of our global teams across Ambu who made this achievement possible.”

This recognition marks Ambu’s third Red Dot Design Award for solutions in its leading single-use endoscopy portfolio. In 2021, Ambu received the Product Design award for both its single‑use cystoscope, aScope™ 4 Cysto, and its single‑use duodenoscope, aScope™ Duodeno, acknowledging the solutions’ high design quality and functionality in single‑use endoscopy.

Ambu launched SureSight in the USA and the UK in 2025 and is now gradually rolling out across Europe after receiving CE mark earlier this month.

Read and download the full press release here.