Slide 1: Investor Presentation Q2 2021/22 Results
INVESTOR PRESENTATION Q2 2021/22 RESULTS MAY 6 2022
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: 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 5: The #1 player in single-use endoscopy
THE #1 PLAYER IN SINGLE-USE ENDOSCOPY Build the most comprehensive and HIGH LEVEL FINANCIALS (FY 2020/21) technologically advanced portfolio and ecosystem in single-use endoscopy by strengthening our R&D modular engine ORGANIC ORGANIC REVENUE CAGR REVENUE CAGR (3 YEAR) (3 YEAR) Leverage our high-sca
Slide 6: Key messages
KEY MESSAGES 1 Drivers creating the single-use endoscopy market continue to accelerate Two of the most important U.S. organisations setting hospital quality and safety recommendations - AAMI and AORN - continue to increase the requirements for reusable endoscope reprocessing Recent product recall of
Slide 7: Market transition to single use continues to accelerate
MARKET TRANSITION TO SINGLE USE CONTINUES TO ACCELERATE Recent authority guidelines supporting single-use High profile U.S. organisations update guidelines Apr 2021 Olympus field safety notice on reusable duodenoscopy system Apr 2021 FDA warning letter on contamination of urological endoscopes ▪ AAM
Slide 8: Elective market recovery driving strong Anaesthesia and PMD performance
ELECTIVE MARKET RECOVERY POST-OMICRON IS DRIVING STRONG ANAESTHESIA AND PMD PERFORMANCE Reported quarterly sales, Anaesthesia and PMD Comments (DKKm) Organic revenue growth ▪ Omicron depressed elective procedures in January and 600 +13% February with strong rebound in March 534 486 ▪ Within this env
Slide 9: Visualization revenue grows double digits with record 444,000 units sold
ADJUSTED FOR NHS, VISUALIZATION REVENUE CONTINUES TO GROW DOUBLE DIGITS WITH A RECORD 444,000 UNITS SOLD Endoscope units sold (‘000) Performance highlights Q2 1,528 ▪ Adjusted for the NHS safety stock-order in Q2 last year, Q2 NHS England safety-stock orders organic Visualization revenue growth is 1
Slide 10: Bronchoscopy franchise continues long-term growth trend post-COVID
OUR BRONCHOSCOPY FRANCHISE CONTINUES ITS LONG-TERM GROWTH TREND POST-COVID aScope™ Broncho quarterly global units sold Performance highlights ▪ Our bronchoscopy performance declined in Q1 and Q2 due to the high comparables from last year COVID wave aScope™ Broncho ▪ As we exit Q2 2021/22, we have se
Slide 11: ENT and cystoscopy continue rapid acceleration
ENT AND CYSTOSCOPY CONTINUE ITS RAPID ACCELERATION GROWING DOUBLE DIGITS QUARTER OVER QUARTER FOR THE LAST 7 QUARTERS aScope™ ENT and aScope™ 4 Cysto global revenue Performance highlights Revenue DKK, rolling 3 months average since launch ▪ Our ENT and cystoscopy products have grown rapidly across a
Slide 12: Karl Storz recall represents a large opportunity for aScope Cysto
KARL STORZ RECALL REPRESENTS A LARGE OPPORTUNITY TO FURTHER ACCELERATE PENETRATION OF OUR aSCOPE™ CYSTO IN THE U.S. Driving further aScope™ Karl Storz Recall – a key market development Cysto demand ▪ Karl Storz is the largest reusable cystoscope player in the US, with ▪ Relative benefits of single u
Slide 13: Bassel Rifai
BASSEL RIFAI Chief Marketing Officer
Slide 14: Our innovation engine is a clear competitive advantage
OUR INNOVATION ENGINE IS A CLEAR COMPETITIVE ADVANTAGE Portfolio has doubled in one year Pulmonology New +500-person strong team divided aScope™ 4 Broncho VivaSight™ aScope™ 5 Broncho HD New across three dedicated R&D aScope™ BronchoSampler™ VivaSight™ 2 centers with several exclusive ENT tech partn
Slide 15: We continue to advance our GI strategy
WE CONTINUE TO ADVANCE OUR GI STRATEGY Advancing aScope™ Duo 1.5 Launching aScope™ Gastro & aBox™ 2 globally ▪ Market environment Secured regulatory clearances across U.S., is becoming more Europe, Japan attractive for aScope™ Duodeno Successfully completed controlled market (reimbursement, release,
Slide 16: Introducing aScope Broncho 5 HD
INTRODUCING aSCOPE™ BRONCHO 5 HD, OUR NEXT GENERATION BRONCHOSCOPE Entering a new market segment with aScope™ 5 HD Broncho ▪ Designed to meet the needs of the bronchoscopy suite – New segment of 3 million procedures – Scope performance, workflow, and patient safety are key ▪ Our highest-performing b
Slide 17: Extending our market leadership in pulmonology
EXTENDING OUR MARKET LEADERSHIP IN PULMONOLOGY Pulmonology visualization portfolio & ecosystem Market-leading pulmonology visualization portfolio today ▪ aScope™ 4 range – market leader in OR/ICU ▪ BronchoSampler™ and Vivasight™ 2 – unique offerings ▪ aScope™ 5 – entrance into bronchoscopy suite ▪ a
Slide 18: Agenda
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 19: Michael Højgaard
# (> my MICHAEL HOJGAARD ay (oe) Ambu
Slide 20: Key financial results for Q2 2021/22
KEY FINANCIAL RESULTS FOR Q2 2021/22 REVENUE ORGANIC GROWTH DKK 1,122m 8% 1H 2021/22: DKK 2,153m 1H 2021/22: 3% ENDOSCOPES GROSS MARGIN 444,000 57.7% 1H 2021/22: 863,000 1H 2021/22: 59.5% EBIT EBIT MARGIN DKK 47m 4.2% 1H 2021/22: DKK 87m 1H 2021/22: 4.0%
Slide 21: Organic revenue growth by geography for Q2 2021/22
Organic revenue growth % ORGANIC REVENUE GROWTH BY GEOGRAPHY FOR Q2 2021/22 Global North America Europe Rest of World 8% 11% 7% -1% (12% excl. NHS) (16% excl. NHS) DKK 1,122m DKK 523m DKK 482m DKK 117m 3% 13% 15% 6% -6% 28% 0% -3% Visualization Anaesthesia Visualization Anaesthesia Visualization Ana
Slide 22: Financial highlights for Q2 2021/22
FINANCIAL HIGHLIGHTS FOR Q2 2021/22 Production costs increased as we scale up the Mexico factory. Combined with raw material inflation and labour shortages, the negative impact on the gross margin amounts to ~1.5 additional %-pts II Distribution costs have increased for 1H by DKK 80m or 3.7%-pts ove
Slide 23: Mexico factory will increase capacity and mitigate supply chain disruptions
MEXICO FACTORY WILL INCREASE CAPACITY AND MITIGATE SUPPLY CHAIN DISRUPTIONS The built of our Mexico plant has finished. It will be more than double our plant in Penang We plan to start production of Visualization products in Q4 2021/22, with Anaesthesia and PMD products to gradually follow The Mexic
Slide 24: Revised financial outlook
OUR REVISED FINANCIAL OUTLOOK REFLECTS LOWER THAN EXPECTED PENT-UP DEMAND AND MACROECONOMIC HEADWINDS Key comments Organic ▪ Hospital staffing shortages limit the benefits from expected elective procedures pent-up demand. With 70% of our revenue coming from revenue growth elective procedures, we adj
Slide 25: Welcoming our new CFO, Thomas Schmidt
WELCOMING OUR NEW CFO, THOMAS SCHMIDT Executive leadership team new member Thomas Schmidt ▪ Chief Financial Officer to join Ambu as of June 1st, 2022 ▪ Deep global finance and healthcare experience with the Roche Group, including CFO of Roche Pharma in Germany, Global Finance SVP for Roche Professio
Slide 26: Ambu Forever Forward
Ambu FOREVER FORWARD
Slide 27: Financial results Q2 2021/22: Income statement
FINANCIAL RESULTS Q2 2021/22 Income statement Q2 2021/22 Q2 Q2 Change YTD YTD Change DKKm Change % Change % 2021/22 2020/21 in value 2021/22 2020/21 in value Revenue 1,122 1,001 121 12% 2,153 2,014 139 7% Production costs -475 -378 -94 26% -872 -729 -143 20% Gross profit 647 623 24 4% 1,281 1,285 -4
Slide 28: Financial results Q2 2021/22: Balance sheet and cash flow
FINANCIAL RESULTS Q2 2021/22 Balance sheet Q2 2021/22 Cash flow statement Q2 2021/22 Change Q2 Q2 Change YTD YTD Change DKKm Q2 21/22 Q2 20/21 DKKm in value 21/22 20/21 in value 21/22 20/21 in value Non-current assets 4,642 3,846 796 Cash flow from operating 5 92 -87 -23 198 -221 activities Inventor
Slide 29: 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