Denmark · Delayed Price · Currency is DKK Ambu A/S Earnings Call Transcripts
Fiscal Year 2026
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Endoscopy Solutions drove strong growth, offsetting A&PM declines, with guidance narrowed to 10%-12% revenue growth and EBIT margin maintained at 12%-14%. Share buyback expanded to DKK 450 million, and H2 is expected to see higher growth and margins.
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Q1 delivered 8.6% organic revenue growth, led by endoscopy (14.4%) and strong urology/respiratory momentum. EBIT margin was 10.5% (adjusted >15% excluding tariffs/FX), with full-year guidance maintained and tariff/FX headwinds expected to ease in H2.
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Strong double-digit growth and a successful turnaround have positioned the company as a leader in single-use endoscopy, with a focus on respiratory and urology. Innovation, scalable operations, and a robust financial outlook support continued expansion, while competition and market conversion drive future growth.
Fiscal Year 2025
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Delivered 13.1% organic revenue growth and 13.0% EBIT margin, driven by strong endoscopy and anesthesia segments. Outlook for 2025-2026 is 10%-13% organic growth and 12%-14% EBIT margin, with tariffs and FX as key headwinds but long-term targets reaffirmed.
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Ambu unveiled its ZOOM AHEAD strategy, targeting global leadership in single-use endoscopy with a focus on innovation, digital solutions, and sustainability. Long-term guidance was raised to 11%-13% organic revenue CAGR and over 20% EBIT margin by 2029/2030, supported by strong market growth, operational scale, and disciplined M&A.
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Q3 delivered strong organic growth and margin expansion, with guidance raised for full-year revenue. FX headwinds and higher working capital impacted margins and cash flow, but operational leverage and new product launches support a positive outlook.
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Delivered 15.4% organic revenue growth in the first half and 11.7% in Q2, with EBIT margin at 14.4% for the quarter. Maintains full-year guidance despite tariff and currency risks, supported by strong product launches and manufacturing flexibility.
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Q1 saw 19.5% organic revenue growth and a 16.1% EBIT margin, driven by strong performance in Endoscopy Solutions and Anesthesia/Patient Monitoring. Guidance for the year was raised, with new product launches and operational efficiencies supporting future growth.
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Endoscopy solutions achieved nearly 20% growth and now comprise 60% of revenue, with strong gains in pulmonology, urology, and ENT. New product launches and a unified software platform support continued leadership, while operational improvements and a debt-free position enable investment in growth. Guidance was raised following a robust Q1.
Fiscal Year 2024
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Q4 and full-year revenue grew strongly, led by endoscopy, with improved margins and robust cash flow. Guidance for 2024-2025 targets 10%-13% organic growth and 12%-14% EBIT margin, supported by new product launches and continued momentum, despite some risks in ANPM and GI segments.
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Q3 saw 15% organic revenue growth and margin expansion, driven by strong Endoscopy Solutions and price increases in Anesthesia and Patient Monitoring. New product approvals and sustainability initiatives support future growth, while guidance was upgraded and investments continue in commercial and R&D capabilities.