Investor Relations

High-growth company with focus on becoming a single-use pure player within all main endoscopy markets.

Latest news

01

Jul. 2021

Update of financial guidance for 2020/21 and preliminary results for Q3 2020/21 (no. 15)

Since announcing our financial results for Q2 2020/21 on May 12, 2021, we have seen an increased impact of the COVID-19 pandemic on our 2020/21 financial forecast. This includes a slower recovery of elective procedures than expected and shipment delays impacting our Core portfolio caused by the congestions of the global container freight market.

We consider the challenges to be short term in nature and will not impact the growth outlook of the company, especially in our Visualisation business where we continue to experience very rapid growth. Having said that, we have experienced some disruption in Q3 2020/21 and expect to see further disruption in Q4 2020/21.

As a result, we are lowering our financial guidance for organic revenue growth and EBIT earnings for 2020/21, while the number of endoscopes to be sold is expected to exceed the upper end of the previous range. Our revised financial guidance for 2020/21 is as follows:

  • Organic revenue growth of approx. 17% compared to previously 17-20%.
  • EBIT-margin of approx. 10% compared to previously 11-12%.
  • Total number of endoscopes sold to exceed 1.4m units compared to previously 1.3 to 1.4m units.

For the full year, we expect the organic revenue growth of our Visualisation business to be above 30%.

Q3 2020/21 preliminary sales results

DKKm Q3
20/21
Q3
19/20
Organic
growth
Fx Reported
growth
YTD
20/21
YTD
19/20
Organic
growth
Fx Reported
growth
Core 449 408 15% -5% 10% 1,358 1,381 3% -5% -2%
Visualization 522 539 0% -3% -3% 1,627 1,315 29% -5% 24%
Revenue 971 947 7% -4% 3% 2,985 2,696 15% -4% 11%


In Q3, we expect 7% organic revenue growth driven by our Core business growing 15%, while our Visualisation business is expected to remain flat compared to Q3 last year where we reported 81% growth. For Q3 year to date, we expect 15% organic revenue growth with our Core business growing 3% and Visualisation growing 29%.

In Q3, we expect to have sold 380.000 units of endoscopes and for Q3 year to date 1.129.000 units.

We will announce our full interim report for Q3 on August 17, 2021.

Background
It has been over a year since the start of the COVID-19 pandemic. It has been the most important global healthcare challenge of our generation putting significant strain on all healthcare personnel, systems, and manufacturers. Since the start of the pandemic Ambu’s has been focusing on making its products available right where they are needed the most. Furthermore, Ambu has been able to accelerate the development of its single-use endoscopy business by introducing new products in large elective endoscopy markets as viable solutions to avoid cross contamination. 

Our plan for the financial year 2020/21 as of Q2, 2020/21 assumed a steady recovery of elective procedures. It also assumed, that in the second half of the year, we would have a more stable supply chain environment. However, over the last months, we have observed the following:

  • A slower return of elective procedures across our key markets globally. This has been accentuated by the emergence of new COVID-19 variants. Therefore, we expect that the elective procedures market will continue its recovery at a slower rate than previously forecasted. This will impact our Core business and the elective part of our Visualisation business.
  • Further supply chain disruption accentuated by the recent Chinese port congestions. In addition to the higher transportation costs, that we have already experienced, we expect to have increased raw material costs and longer lead times. As a result, Core products expected to arrive in September 2021 will now arrive in Q1 2021/22. 

Mitigation plans to supply chain disruption
Our focus centre on ensuring our products continue to be made available where they are needed the most. Our mitigation plan encompasses the following.

  • Work with Core customers to secure supply through distributors and wholesalers. We expect the impact in terms of product availability at the hospital level to be minimal and short term in nature.
  • Increase our reliance of airfreight for our Visualisation products for the foreseeable future.
  • Accelerate the construction of our Visualisation plant in Mexico. Our new target date for the plant to become operational will move from 2022/23 to 2021/22.

A conference call is held tomorrow Friday, 2 July at 08.00 am (CEST). [The conference call is available on demand].

Download
You can download this compay announcement (pdf). ​

30

Jun. 2021

Ambu upgraded in MSCI ESG rating

Ambu recently received an MSCI ESG Rating of AA. 

MSCI is an American finance company that services institutional investors around the world. MSCI research and rate companies on a scale from ‘CCC’ to ‘AAA‘ according to their exposure to industry-material ESG risks and their ability to manage those risks relative to peers. 

In the 2021 rating of Ambu, we are upgraded from ‘A’ to ‘AA’, which is the second highest score placing us in the top 20% of medtech peers. 

Key issues 
The MSCI analysis identifies four key issues for Ambu’s ESG profile and compares them with the industry standard for medtech companies. The issues are Human Capital Development, Carbon Emissions, Governance and Product Safety & Quality. 

I’m happy that we get credit for some of the really solid work that Ambu has done for many years on product safety and quality management which we in the past may not have communicated in a clear enough way to our external stakeholders,” says Lene Møldrup, Director of ESG at Ambu. 

Also, MSCI has noted that our ethics framework now includes a detailed anti-bribery policy, and that we became a signatory to the UN Global Compact in 2020. These recent efforts also contribute to the upgrade in our ESG rating.” 

 

Ambu Logo

 

DISCLAIMER STATEMENT 
THE USE BY AMBU A/S OF ANY MSCI ESG RESEARCH LLC OR ITS AFFILIATES (“MSCI”) DATA, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT, RECOMMENDATION, OR PROMOTION OF AMBU A/S BY MSCI.  MSCI SERVICES AND DATA ARE THE PROPERTY OF MSCI OR ITS INFORMATION PROVIDERS, AND ARE PROVIDED ‘AS-IS’ AND WITHOUT WARRANTY.  MSCI NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI. 

25

Jun. 2021

Ambu Supports FDA’s Recommendations on the Use of Single-use Bronchoscopes

The U.S. Food and Drug Administration has updated a safety communication on reprocessed flexible bronchoscopes. The FDA recommends that healthcare providers consider using single-use bronchoscopes where there is increased risk of spreading infection, or no support for immediate reprocessing available. Additionally, the FDA recommends healthcare facilities consider using sterilization for reprocessing instead of high-level disinfection. This latest update follows recent recommendations from the American Association for Bronchology and Interventional Pulmonology (AABIP) on treating COVID-19 patients.
 
The FDA communication also summarizes 867 medical device reports (MDRs) submitted to the agency from 2015-2021 related to infections or device contamination associated with reusable flexible bronchoscopes — an almost eight-fold increase from the 109 MDRs received by the FDA from 2010-2015. The FDA safety communication was first issued in 2015 and drew attention to reprocessing failures as well as continued use of devices with mechanical and maintenance issues. 
 
The FDA and endoscope-associated infections
Reusable flexible endoscopes have been under increasing scrutiny from the FDA in recent years due to reported device-related infections — including from multidrug-resistant bacteria — and patient fatalities. In August 2019, the FDA specifically recommended duodenoscope manufacturers and healthcare facilities transition to duodenoscopes that are partially or completely single-use. These recommendations were born out of investigations into infection outbreaks traced back to contaminated duodenoscopes in 2015.
 
More recently, in April 2021, the FDA announced new investigations into more than 450 medical device reports describing patient infections and other possible contamination issues related to urological endoscopes and sent a letter cautioning healthcare providers of the risk of infections associated with reprocessing urological endoscopes.

Ambu supports FDA recommendation
Ambu believes the FDA recommendation will improve patient safety during bronchoscopy procedures and that single-use products can play an important role to support the new guidelines. Ambu believes that any patient that enters the OR or ICU should not be exposed to further risk of infection. The FDA recommendation for healthcare systems to move to sterilization of reusables also further increases the economic attractiveness of single-use bronchoscopy and will accelerate the transition to make single-use bronchoscopy the standard of care.
 
Technologically advanced single-use endoscopy products provide healthcare systems and patients around the world with solutions that are convenient, affordable and without risk of contamination,” said Juan Jose Gonzalez, CEO of Ambu A/S.

We pioneered and are the leader in single-use bronchoscopy.  We are bringing our fifth generation single-use bronchoscope to enter into the Broncho suite,” said Bassel Rifai, Chief Marketing Officer of Ambu. “This is an example of our commitment to healthcare systems that would like to transition to single-use bronchoscopy.

In 2020, more than 1 million Ambu single-use endoscopes were used around the world, making Ambu the world’s largest supplier of single-use endoscopes. Within bronchoscopy, 96 percent of the top 500 hospitals in the U.S. use Ambu’s single-use bronchoscopes.

Download
You can download this press release (pdf).

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17

Aug. 2021

Earnings release Q3 2020/21

A conference call will be held at 09.30 am (CEST). Follow the conference call live.

To ask questions in the Q&A session, please call one of the following numbers five minutes before the start of the conference:
+45 3544 5577 (DK)
+44 333 300 0804 (UK)
+1 631 913 1422 (US)
and enter the following access code: 70000017#.

24

Aug. 2021

London Roadshow

25

Aug. 2021

Paris Roadshow

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