Ambu A/s Class B · OMXCOP:AMBU_B
Ambu A/s Class B — Ambu A S Ord — Q3 2025 Earnings Presentation
22 slides from Ambu A/s Class B's earnings presentation, Aug 22, 2025
Slide 1: Results for Q3 2024/25
RESULTS FOR Q3 2024/25 Britt Meelby Jensen Henrik Skak Bender Chief Executive Officer Chief Financial Officer
Slide 2: Disclaimer
This presentation contains certain forward-looking statements, including but not limited to, the statements and expectations contained in the "Financial Update" section of this presentation. Statements herein, other than statements of historical fact, regarding our future results of operations, fina
Slide 3: Continued solid performance
CONTINUED SOLID PERFORMANCE Continued solid 9M growth of 14.3%, with increase of lower end of organic revenue guidance to 12-14% (previously 11-14%). Good progress with launches of new solutions on track to unlock revenue in new markets over time, with launch of full Ambu® SureSight Connect solution
Slide 4: Q3 2024/25 Financial Results
Q3 2024/25 FINANCIAL RESULTS 12.0% 11.3% Organic revenue EBIT margin growth before special items 9M: 14.3% 9M: 13.9% 6.4% 15.9% 128m Anesthesia & Patient Endoscopy Solutions Free cash flow Monitoring revenue growth revenue growth (DKK) 9M: 11.1% 9M: 16.4% 9M: 277m 4
Slide 5: Continued progress across strategic "Zoom In" areas
CONTINUED PROGRESS ACROSS STRATEGIC “ZOOM IN” AREAS Key developments in Q3 2024/25 Solutions for customer needs • Expansion of Ambu® SureSight Connect (video laryngoscopy solution) with 5 pediatric blades. • Strengthened unique urology portfolio with FDA clearance for Ambu® aScope 5 Cysto HD to func
Slide 6: Planned leadership transition in North America
PLANNED LEADERSHIP TRANSITION IN NORTH AMERICA A PROVEN 20+ YEAR TRACK RECORD IN MEDTECH • Seasoned US medtech leader with more than two decades of experience in the medical technology industry at leading healthcare companies. • Led USD 1bn organizations, building specialized sales teams, launching
Slide 7: Pulmonology organic revenue growth of 11.2% in Q3 2024/25
PULMONOLOGY ORGANIC REVENUE GROWTH OF 11.2% IN Q3 2024/25 Pulmonology Reported revenue, DKKm Key Q3 highlights • Solid Q3 growth of 11.2%, driven by the full pulmonology portfolio, resulting in a last-twelve- Organic growth months rolling organic growth of 10.7%. +11.2% • The underlying growth remai
Slide 8: Ambu SureSight Connect solution now complete
AMBU® SURESIGHTTM CONNECT SOLUTION NOW COMPLETE • With the launch of the high-performing Ambu® SureSight Connect, Ambu has confidently entered the fast-growing video laryngoscopy market • During Q3 24/25, Ambu® SureSight Connect was completed with the launch of five additional blades, together with
Slide 9: 'Uro, ENT, and GI' organic revenue growth of 20.8% in Q3 2024/25
‘URO, ENT, AND GI’ ORGANIC REVENUE GROWTH OF 20.8% IN Q3 2024/25 ‘URO, ENT, & GI’ Key Q3 highlights Reported revenue, DKKm • ‘Urology, ENT, and GI’ delivered 20.8% organic growth, resulting in a last-twelve-months rolling Organic growth growth of 21.9%. +20.8% • Growth driven by underlying endoscopy
Slide 10: Expanding our offering in urology with solutions for higher-value procedures
EXPANDING OUR OFFERING IN UROLOGY WITH SOLUTIONS FOR HIGHER-VALUE PROCEDURES • Ambu is redefining endoscopy in urology, leading the shift toward higher patient throughput, efficiency and sustainability. • In Q3, Ambu obtained FDA clearance for the first-ever single-use flexible cysto-nephroscopy sol
Slide 11: Solid Anesthesia & Patient Monitoring organic revenue growth of 6.4%
SOLID ANESTHESIA & PATIENT MONITORING ORGANIC REVENUE GROWTH OF 6.4% IN Q3 2024/25 Anesthesia & Patient Monitoring Reported revenue, DKKm Key Q3 highlights Organic growth • Solid growth of 6.4%, resulting in a last-twelve- +6.4% months rolling organic growth of 10.9%. 3.7% • Growth was driven by bot
Slide 12: Henrik Skak Bender, Chief Financial Officer
Henrik Skak Bender Chief Financial Officer 12
Slide 13: Organic revenue growth of 12.0% in Q3 2024/25
ORGANIC REVENUE GROWTH OF 12.0% IN Q3 2024/25 Group Reported revenue, DKKm Organic growth Key Q3 highlights +12.0% • Strong organic growth of 12.0% 9.0% and reported growth of 9.0%. reported growth 1,507 1,383 • The currency effect of -3.0%-points was mainly due to USD/DKK development. • All three g
Slide 14: Solid EBIT margin expansion with investments continuing as planned
SOLID EBIT MARGIN EXPANSION WITH INVESTMENTS CONTINUING AS PLANNED TO FUEL FUTURE GROWTH EBIT margin1 bridge EBIT margin1 development Continued solid margin expansion -1.6%-pts 12.9% 12.4% 13.9% -1.3% 11.3% 9M 2023/24 9M 2023/24 -0.3% 16.1% 14.2% 14.4% 12.9% 10.6% 11.3% 10.0% EBIT margin Δ Gross Δ O
Slide 15: External factors have temporary impact and do not change our investments or guidance
EXTERNAL FACTORS HAS TEMPORARY IMPACT AND DO NOT CHANGE OUR INVESTMENTS OR FINANCIAL GUIDANCE 1| FX impact: Aims to natural hedge but exposed to USD and COGS reductions comes with time lag 2| Tariff impact: Manageable effect, and with our global set-up, we can limit the effect Revenue: Slightly more
Slide 16: Gross margin of 58.9% - negatively impacted by FX
GROSS MARGIN OF 58.9% - NEGATIVELY IMPACTED BY FX Key Q3 highlights Gross margin 61.3% • Gross margin in Q3 2024/25 was 58.9%, corresponding to 60.2% 60.6% a decrease of 1.3%-pts. 58.9% 58.9% • The decrease in gross margin was mainly driven by FX, due to USD/DKK depreciation. Q3 Q4 Q1 Q2 Q3 • Taking
Slide 17: Continued operating leverage although offset by operational investments
CONTINUED OPERATING LEVERAGE ALTHOUGH OFFSET BY OPERATIONAL INVESTMENTS Key Q3 highlights OPEX-to-revenue ratio • The OPEX ratio was 47.6%, corresponding to an increase 48.3% 47.3% 47.6% of 0.3%-pts, compared to Q3 2023/24. 46.2% 45.2% • The increase was in line with the planned commercial investmen
Slide 18: Free cash flow continues to develop positively despite short-term external headwind
FREE CASH FLOW CONTINUES TO DEVELOP POSITIVELY DESPITE SHORT-TERM EXTERNAL HEADWIND Free cash flow – main components (DKKm) Key Q3 highlights • Free cash flow (FCF) of DKK 128m, leaving FCF for the 263 first nine months at DKK 277m. -24 • This was impacted by: o Slightly lower profitability than pre
Slide 19: Continued elevated inventory levels to support the commercialization
CONTINUED ELEVATED INVENTORY LEVELS TO SUPPORT THE COMMERCIALIZATION Key Q3 highlights EBITDA before special items 19.3% 21.9% 20.5% 17.6% 17.5% • Q3 CAPEX of DKK 109m corresponds to 7% of revenue and in the low end of Ambu’s long-term projection of 267 331 318 263 244 allocating 7-9% of revenue to
Slide 20: 2024/25 financial guidance: raising the lower end of our organic revenue guidance
2024/25 FINANCIAL GUIDANCE: RAISING THE LOWER END OF OUR ORGANIC REVENUE GUIDANCE 2024/25 2023/24 Comments on outlook actuals 2024/25 outlook Growth will be driven by Endoscopy Organic Solutions, which is expected to grow +15%. revenue 12-14% 13.8% growth (prev. 11-14%) Anesthesia & Patient Monitori
Slide 21: Ambu Capital Markets Day
Invitation! AMBU CAPITAL MARKETS DAY 1 October 2025 Ballerup 21
Slide 22: Thank you for your attention
THANK YOU FOR YOUR ATTENTION INVESTOR RELATIONS CONTACT Anders Hjort Head of Investor Relations anhj@ambu.com | +45 7225 2910 Frederik Futtrup Associate, Investor Relations frfu@ambu.com | +45 6070 9526 Confidential