Investor Relations

Today, Ambu announces an extension of its Ambu® Recircle Program, now to include blades from the newly launched video laryngoscopy solution, Ambu® SureSight™ Connect.

Ambu has achieved another key milestone in its commitment to driving circular innovation in healthcare. The company’s pioneering endoscope recycling program – the Ambu® Recircle Program – will be expanded beyond endoscopes to also include blades from Ambu’s single-use video laryngoscope, Ambu® SureSight™ Connect.

Ambu’s video laryngoscope is part of the company’s Respiratory offering and is designed to support clinicians during intubation and upper airway procedures, for both routine and complex airway management procedures.

Ambu has initiated a feasibility study to determine how its Ambu® SureSight™ Connect blades can be seamlessly integrated into the recycling program alongside endoscopes. The company expects that customers will be able to recycle video laryngoscope blades in 2026.

“I am proud that we continue to lead the way with an innovative and practical approach to reducing the carbon footprint of the healthcare industry. The expansion of our Ambu® Recircle Program is a natural next step in expanding our recycling efforts across multiple solutions, reinforcing our commitment to our customers as a full-service partner.”

BRITT MEELBY JENSEN
Chief Executive Officer

REDUCING ENVIRONMENTAL IMPACT VIA CIRCULARITY AND RECYCLING 
As the market leader in single-use endoscopy, Ambu recognizes the industry’s urgent need to address environmental challenges head-on. By advancing its commitment to circularity in the healthcare industry, Ambu is helping hospitals take meaningful climate action, while continuing to deliver high-quality patient care through advanced medical solutions.

Ambu launched its recycling program in June 2025, providing customers with an option to collect and recycle used Ambu endoscopes for new non-medical purposes. Currently, 28 hospitals across Germany, France, the United States, and the United Kingdom have joined the program.

The Ambu® Recircle Program is built on a circular approach, delivering a fully traceable and regulation-compliant recycling process for hospitals. From the moment an Ambu endoscope or video laryngoscope blade is collected after use, it undergoes a thorough process – including cleaning, shredding, and material recovery – to make sure useful materials are not thrown away or burned but reused as much as possible in new non-medical products.¹

This end-to-end approach reflects Ambu’s commitment to reducing environmental impact across the entire product lifecycle, from raw material sourcing to post-use recovery, aimed to help both hospitals and Ambu lower their carbon footprints. This commitment is further supported by Ambu’s pioneering efforts integrating bioplastic materials² into the handle of its fleet of single-use endoscopes, a milestone that Ambu achieved in 2024 as the first endoscopy company in the world.

 

¹ With Ambu's recycling program, plastics from used Ambu endoscopes are collected, recycled, and repurposed into new, non-medical products – such as the chairs and tables featured on stage at our Capital Markets Day 2025 (view attachment).

² The bioplastic material that Ambu is introducing in its fleet of single-use endoscopes is derived from a mix of bio-based second-generation feedstock and fossil-based feedstock, e.g., recycled food waste. Read more about Ambu’s use of bioplastics on the company’s website.

Read the full press release here

Click here to download a photo of the chairs and tables made from recycled plastic sourced from used Ambu endoscopes, showcased on stage during our Capital Markets Day 2025.

Ambu announces its next-era strategy, ZOOM AHEAD, including a long-term aspiration of achieving global endoscopy leadership. With this strategy, Ambu extends its long-term financial targets through FY 2029/30 and increases its 5-year organic revenue CAGR to 11-13%, up from the previous +10% target set for FY 2027/28. The EBIT margin target for FY 2029/30 is set at +20%, while the EBIT margin target for FY 2027/28 is maintained.

Ambu has successfully executed on its ZOOM IN strategy launched in November 2022. In less than three years, the company has reestablished a robust financial foundation, delivering strong double-digit revenue growth, increasing the EBIT margin fourfold, generating a strong free cash flow, and eliminating all debt.

Building on this momentum, Ambu is today announcing its next-era strategy, ZOOM AHEAD. It includes a long-term aspiration to achieve global endoscopy leadership and marks a defining moment in Ambu’s growth journey to raise the bar for endoscopy.

The endoscopy market continues to be an attractive growth opportunity for Ambu, and the company is leading the structural shift to single-use solutions. Today, Ambu is the market leader in single-use endoscopy across its four business areas: Respiratory (previously named Pulmonology), Urology, Ear-Nose-Throat, and Gastroenterology, building on its EndoIntelligence^TM platform (previously referred to as Digital Solutions and Systems).

The ZOOM AHEAD strategy is focused on differentiation, and Ambu will build on the success of ZOOM IN, supported by four strategic themes:

• Customer centricity - Improve customer outcomes and efficiency
• Innovation - Deliver integrated and high-impact solutions
• Business platform - Build a scalable and profitable growth platform
• People & culture - Fuel a culture of empowerment and growth

Increased and extended long-term financial targets towards 2029/30
Today, single-use endoscopy represents 3-4% of the global endoscopy market. It is expected to grow +20% annually, supported by an underlying endoscopy procedure growth and, in particular, a continued conversion from reusable endoscopes to single-use endoscopes.

With the launch of its ZOOM AHEAD strategy, Ambu introduces new long-term financial targets and reinforces its disciplined capital deployment, focusing investments on sustainable, profitable growth.

Ambu raises its Group-level 5-year organic revenue growth target to a CAGR of 11-13% for FY 2029/30, increasing its previous target of +10% set for FY 2027/28. Within this, Endoscopy Solutions is expected to grow at a CAGR of 15-20%, while Anesthesia & Patient Monitoring is projected at 3-5% (previously 2-4% for FY 2027/28).

Furthermore, Ambu targets an EBIT margin (before special items) of +20% by FY 2029/30, maintaining its previous target of ~20% by 2027/28, allowing for potential trade-offs with growth investments, as previously communicated. Given the market potential, Ambu aims to balance growth and profitability, in line with long-term targets, allowing short-term EBIT margin trade-offs to support sustainable growth investments.

Finally, Ambu expects a cash conversion (defined as free cash flow before acquisitions divided by EBITDA) of +40% for the period. The targeted cash conversion is based on a net working capital to 12-month rolling sales of around 20% and a CAPEX of 6-10% of sales. Strong cash conversion remains a key priority for Ambu to fund and drive accelerated growth.

Financial targets:

* Communicated on the Capital Markets Day, March 2023
** CAGR is calculated using trailing twelve months (TTM) revenue as the starting point
*** Potential trade-offs with growth investments for the FY 2027/28 target, as previously communicated
**** Cash conversion = free cash flow before acquisitions / EBITDA

Maintaining FY 2024/25 outlook
Ambu also maintains its financial guidance for 2024/25 of organic revenue guidance of 12-14%. The EBIT margin before special items is likewise maintained at 13-15%, and investments continue as planned to support long-term growth.

Ambu will host a Capital Markets Day on 1 October 2025, where the company will outline its assessment of market potential and present the ZOOM AHEAD strategy.

This financial calendar lists the expected release dates of Ambu’s financial announcements for the financial year 2025/26, as well as the date of Ambu’s annual general meeting. 

2025

5 November 2025:         Annual report 2025/26
3 December 2025:         Annual general meeting 2025

2026
4 February 2026:           Earnings release Q1 2025/26
6 May 2026:                  Earnings release Q2 2025/26
26 August 2026:            Earnings release Q3 2025/26
30 September 2026:      End of fiscal year 2025/26
5 November 2026:         Annual report 2025/26
2 December 2026:         Annual general meeting 2026

Deadline for the inclusion of specific items on the agenda for the annual general meeting 2025 is 21 October 2025.

Download the full company announcement here