Ambu A/s Class B · OMXCOP:AMBU_B
Ambu A/s Class B — Ambu A S Ord — Q1 2022 Earnings Presentation
26 slides from Ambu A/s Class B's earnings presentation, Feb 8, 2022
Slide 1: Investor Presentation Q1 2021/22 Results
INVESTOR PRESENTATION Q1 2021/22 RESULTS 8 FEBRUARY 2021
Slide 2: Today's Speakers
TODAY’S SPEAKERS JUAN JOSE GONZALEZ MICHAEL HØJGAARD BASSEL RIFAI CEO CFO CMO
Slide 3: Agenda and Disclaimer
AGENDA 1. BUSINESS UPDATE 2. FINANCIAL UPDATE 3. APPENDIX DISCLAIMER This presentation contains forward-looking statements, which include estimates of financial performance and targets. These statements are not guarantees of future performance and involve certain risks and uncertainties. Therefore,
Slide 4: Key Messages
KEY MESSAGES 1 Drivers creating the single-use endoscopy market continue to accelerate Regulators, healthcare systems and payers continue to increase focus on infection control while setting economic incentives to drive transition to single-use endoscopy. The labour shortages across healthcare sys
Slide 5: Single-use endoscopy is one of the most attractive medtech markets
SINGLE-USE ENDOSCOPY IS ONE OF THE MOST ATTRACTIVE MEDTECH MARKETS Drivers creating the single-use endoscopy Expected single-use market reinforced during the past year market in 2025 I Increased focus on infection control USD ~2.5bn II Compelling workflow and efficiency benefits III Rapid technology
Slide 6: The #1 player in single-use endoscopy
THE #1 PLAYER IN SINGLE-USE ENDOSCOPY Build the most comprehensive and HIGH LEVEL FINANCIALS (2020/21) technologically advanced portfolio and ecosystem in single-use endoscopy by strengthening our R&D modular engine REVENUE REVENUE CAGR (3 YEAR) CAGR (3 YEAR) 16% 34% Leverage our high-scale low-cost
Slide 7: Single-use endoscopy helps address infection and labour challenges
SINGLE-USE ENDOSCOPY PRESENTS THE BEST SOLUTION TO HELP HEALTHCARE SYSTEMS ADDRESS INFECTION AND LABOUR CHALLENGES U.S. medical device reports on endoscope- related contamination and infections Labour shortage challenges Urology Bronchoscopy GI 2,500 ~2,300 U.S. Department of Health and Human Servic
Slide 8: Record Visualization volume with 419,000 units sold
RECORD VISUALIZATION VOLUME WITH 419,000 UNITS SOLD Endoscope units sold (‘000) Strong Visualization performance Q1 1,528 Adjusted for the NHS safety stock-orders in Q1 last year, organic Visualization revenue NHS England safety-stock orders growth is 26% and volume growth 46% 1,085 Q1 2021/22 e
Slide 9: Single-use ENT and cystoscopy offering to continue rapid growth
WE EXPECT OUR SINGLE-USE ENT AND CYSTOSCOPY OFFERING TO CONTINUE ITS RAPID GROWTH FOR THE FULL YEAR 2021/22 aScope™ ENT and aScope™ 4 Cysto global revenue Continued strong traction with single-use cystoscopy Revenue DKK, rolling 3 months average since launch I and ENT products growing double-digits
Slide 10: Perspective on Omicron impact
PERSPECTIVE ON OMICRON IMPACT Impact from Omicron variant started in mid-December 2021 and is expected to have further negative impact in Q2 and Q3 2021/22 In the short-term, Omicron has the following negative impact: ‒ It does not drive single-use bronchoscopy extra demand as the variant is less se
Slide 11: Bassel Rifai, Chief Marketing Officer
BASSEL RIFAI Chief Marketing Officer
Slide 12: aScope Duodeno 1.5 launch and completed clinical trial
WE CONTINUE TO ADVANCE OUR aSCOPE DUODENO 1.5 LAUNCH, WITH SUCCESSFUL COMPLETION OF OUR CLINICAL TRIAL Global launch of aScope™ Duodeno 1.5 is moving forward Successful aScope™ Duodeno 1.5 clinical trial Market environment for creation of single-use duodenoscopy is becoming more attractive Completed
Slide 13: Gastroscopy is a 20 million procedure market with challenges
GASTROSCOPY IS A 20 MILLION PROCEDURE MARKET WITH CHALLENGES THAT SINGLE-USE CAN OVERCOME Challenges with reusable gastroscopy systems Benefits of single-use gastroscopy Lack of availability: There is a need to do gastroscopies across multiple care settings (suite, OR, ER, ICU, ASCs), while reusable
Slide 14: Introducing aScope Gastro & aBox 2
INTRODUCING aSCOPE™ GASTRO & aBOX™ 2, OUR MOST ADVANCED SINGLE-USE TECHNOLOGY AND NEXT-GENERATION DISPLAY PLATFORM System highlights Next-generation camera sensor, with 4x higher resolution versus aScope 4 Designed to address 50% of aScope™ the 20 million gastroscopies Robust mechanical performa
Slide 15: Creating the most advanced and comprehensive ecosystem in single-use endoscopy
CREATING THE MOST ADVANCED AND COMPREHENSIVE ECOSYSTEM IN SINGLE-USE ENDOSCOPY Proprietary technology powering our modular engine Current portfolio and eco-system I Modular camera and sensor platform II Image processing III Ergonomics and maneuverability
Slide 16: On track to launch our rich pipeline by 2022/23
ON TRACK TO LAUNCH OUR RICH PIPELINE BY 2022/23 Current portfolio Most important launches in calendar year 2022 Pulmonology aScope™ 4 Broncho VivaSight™ aScope™ 5 Broncho portfolio aScope™ BronchoSampler™ VivaSight™ 2 Videolaryngoscope 2.0 ENT aScope™ 4 RL Intervention aScope™ 4 RL Slim Urology Uret
Slide 17: Agenda and Disclaimer
AGENDA 1. BUSINESS UPDATE 2. FINANCIAL UPDATE 3. APPENDIX DISCLAIMER This presentation contains forward-looking statements, which include estimates of financial performance and targets. These statements are not guarantees of future performance and involve certain risks and uncertainties. Therefore,
Slide 18: Michael Højgaard, CFO
MICHAEL HOJGAARD CFO Ambuczs,
Slide 19: Key financial results for Q1 2021/22
KEY FINANCIAL RESULTS FOR Q1 2021/22 REVENUE ORGANIC GROWTH DKK 1,031m -1% Q1 20/21: DKK 1,013m Q1 20/21: 39% ENDOSCOPES GROSS MARGIN 419,000 61.5% Q1 20/21: 370,000 Q1 20/21: 65.4% EBIT EBIT MARGIN DKK 40m 3.9% Q1 20/21: DKK 148m Q1 20/21: 14.6%
Slide 20: Organic revenue growth by geography for Q1 2021/22
Organic revenue growth % ORGANIC REVENUE GROWTH BY GEOGRAPHY FOR Q1 2021/22 Global North America Europe Rest of World -1% -16% (13% excl. NHS 18% (10% excl. NHS 0% safety-stock order) safety-stock order) DKK 1,031m DKK 481m DKK 461m DKK 89m -2% 0% 34% 4% -23% -4% 11% -7% Visualization Visualization
Slide 21: Financial highlights for Q1 2021/22
FINANCIAL HIGHLIGHTS FOR Q1 2021/22 The gross margin was negatively affected in Q1 with ~4 percentage points as a result of sales mix, raw material II inflation, and scale-up of Mexico factory To meet demands and secure deliveries to our customers, we have spent DKK 35m more on sea and air transport
Slide 22: 2021/22 revised financial outlook reflects Omicron volatility
2021/22 REVISED FINANCIAL OUTLOOK REFLECTS OMICRON VOLATILITY Organic EBIT revenue growth margin 15%+ 7%+ (equal or higher) (equal or higher)
Slide 23: Forever Forward
FOREVER FORWARD Amb
Slide 24: Financial results Q1 2021/22: income statement
FINANCIAL RESULTS Q1 2021/22 Income statement Q1 2021/22 Change DKKm Q1 21/22 Q1 20/21 in value Change % Revenue 1,031 1,013 18 2% Production costs -397 -351 -46 13% Gross profit 634 662 -28 -4% Gross margin, % 61.5 65.4 - - Selling and distribution costs -406 -348 -58 17% Development costs -64 -47
Slide 25: Financial results Q1 2021/22: balance sheet and cash flow
FINANCIAL RESULTS Q1 2021/22 Balance sheet Q1 2021/22 Cash flow statement Q1 2021/22 Change Change DKKm Q1 21/22 Q1 20/21 DKKm Q1 21/22 Q1 20/21 in value in value Non-current assets 4,517 3,719 798 Cash flow from operating -28 106 -134 activities Inventories 905 551 354 Cash flow from investing -134
Slide 26: Ambu single-use endoscopy environmental agenda
AMBU SINGLE-USE ENDOSCOPY ENVIRONMENTAL AGENDA PLASTIC NEUTRAL IN EMEA PLASTIC TAKE-BACK PROGRAM IN U.S. PILOTING RECYCLING PROGRAMS AND MORE ENVIRONMENTALY FRIENDLY MATERIALS