Ambu A/S Class B · OMXCOP:AMBU_B
Ambu A/S Class B — Q4 2013/14 Earnings Presentation
13 slides from Ambu A/S Class B's earnings presentation, November 2014
Slide 1: Results Q4 2013/14, Guidance FY 2014/15
Results Q4 2013/14 Guidance FY 2014/15 October 1 2013 – September 30 2014 CEO Lars Marcher CFO Michael Højgaard
Slide 2: Agenda and Disclaimer
Agenda • Q4 and FY Highlights Disclaimer Forward-looking statements, especially such relating to future sales and operating profit, are subject to risks and • Business trends uncertainties. Various factors, many of which are outside Ambu’s control, may cause the actual development of • Growth driver
Slide 3: Q4 Highlights
Q4 Highlights Revenue DKK 442m • Organic growth of 11% • 14% increase in aScope 3 sales vs. previous Q4 Q2 Q4 quarter. Approaching the overall capacity limit in 12/13 13/14 13/14 production prior to new facility in Malaysia Gross margin • 15% increase in laryngeal mask sales. Only 50.7% minor impact
Slide 4: FY 2013/14 Highlights
FY 2013/14 Highlights Revenue • Historic revenue of DKK 1.584m DKK 1,584m • Organic growth of 7% • Gross margin improved to 50.4% (49.1%) 09/10 11/12 13/14 • EBIT increased by 23% to an EBIT-margin of 12.5% Gross margin • Free cash flow of DKK 114m b.s.i. 50.4% • Gearing of 2.6x 09/10 11/12 13/14 •
Slide 5: Organic growth and revenue split
Organic growth and revenue split FY 2013/14 by business area FY 2013/14 by geography 16% 5% 3% 3% -11% 32% 8% 12% 44% 39% 53% 44% Anaesthesia North America PMD Europe Emergency Care Rest of world 5 Organic growth rates stated in local currency
Slide 6: Acceleration of topline growth
Acceleration of topline growth - status on growth drivers Revenues (mDKK) • Strong growth of aScope 3 sales in aScope 3 all markets Organic growth DKK 397m • Expansion of production capacity 800 13% 1 11% • Delay of aBlade launch leads to an 7% 8% 8% 8% 1 adjustment of earn out 700 King Vision • Int
Slide 7: Financial results
Financial results DKKm Q4 13/14 Q4 12/13 FY 13/14 FY 12/13 • Organic growth of 11% in Q4 and 7% in FY Revenue 442 401 1,584 1,383 • Solid improvement in Gross profit 224 194 798 679 gross margin Gross Margin (%) 50.7 48.4 50.4 49.1 • EBIT up 36% in Q4 and 23% in FY Capacity costs (144) (135) (600) (
Slide 8: Profitability improving
Profitability improving - Approaching level before acquisition of King Systems Gross margin 56% • High-margin 54% products are 52% 50% driving growth 48% • Continuous 46% optimization of 44% 2009/10 2010/11 2011/12 2012/13 2013/14 manufacturing EBIT margin • Synergies 16% materializing 15% 14% • Str
Slide 9: Balance sheet
Balance sheet DKKm FY 13/14 FY 12/13 • Attractive corporate bond Total assets 2,047 1,852 financing with spread to Working capital 452 417 mid-swap of ~1.1% • Proposal for share split 1:4 Net Interest Bearing Debt 739 721 (NIBD) • Gearing according to plan Gearing (NIBD/EBITDA b.s.i.) 2.6 3.1 NWC to
Slide 10: Full-year 2014/15 outlook - continued growth and margin expansion
Full-year 2014/15 outlook - continued growth and margin expansion Actual Guidance Guidance Target 13/14 14/15 (local) 14/15 (DKK) 16/17 ~10% Sales 7% 7-8% ~ 2bn (DKK 1.740m) EBIT-margin* 12.5% 13.5-14% 12.5-13% 17-18% Free Cash Flow* 114m 130-140m Gearing* 2.6 ~2.2 • Strong USD boosting revenue in D
Slide 11: In summary
In summary • First year of strategy period satisfactory • Very busy year with completion of King Systems integration and global launch of three unique products • With the current product portfolio, we are well-positioned to accelerate growth • Strong focus on cost control and NWC • Synergies from ac
Slide 12: Ambu
Ambu* s that work for life
Slide 13: For further information, please contact
READ MORE AT WWW.AMBU.COM For further information, please contact: CEO Lars Marcher, lm@ambu.com or +45 5136 2490 CFO Michael Højgaard, miho@ambu.com or +45 4030 4349 13