Ambu A/s Class B · OMXCOP:AMBU_B
Ambu A/s Class B — Ambu A S Ord — Q3 2022 Earnings Presentation
18 slides from Ambu A/s Class B's earnings presentation, Aug 25, 2022
Slide 1: Q3 2021/22 Results – Investor Presentation
Q3 2021/22 RESULTS Ambu A/S INVESTOR PRESENTATION 1
Slide 2: Today's Speakers
TODAY’S SPEAKERS BRITT MEELBY JENSEN THOMAS FREDERIK SCHMIDT CEO CFO 2
Slide 3: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS Q3 2021/22 Investor Presentation TABLE OF CONTENTS DISCLAIMER • Status today This presentation contains forward-looking statements, which include estimates of financial performance and targets. • Business update These statements are not guarantees of future performance • F
Slide 4: Reinforcing the Foundation for Sustainable and Profitable Growth
REINFORCING THE FOUNDATION FOR SUSTAINABLE AND PROFITABLE GROWTH The single-use endoscopy market is created at a rapid pace across most segments, improving patient care and adding value to health care systems Ambu is well-positioned to strengthen its position as the world’s leading single-use endosc
Slide 5: Several Initiatives Launched to Drive Sustainable and Profitable Growth
SEVERAL INITIATIVES HAVE BEEN LAUNCHED TO DRIVE SUSTAINABLE AND PROFITABLE GROWTH INITIATIVES STATUS TODAY Launch cost reduction program to strengthen As of today, August 25, we have completed over 70% free cash flow and improved profitability of the planned workforce reductions Adjust pricing pract
Slide 6: Steady Organic Revenue Growth of 8% in Q3 2021/22
STEADY ORGANIC REVENUE GROWTH OF 8 % IN Q3 2021/22 REVENUE GROWTH Q3 2021/22 HIGHLIGHTS Reported revenue (DKKm) Organic growth 16% • Organic revenue growth of 8% and 8% reported growth in DKK of 16% Reported growth 1.128 973 • Double-digit growth in Anaesthesia and PMD, while Visualization was drive
Slide 7: Ambu's Single-Use Endoscopy Portfolio Covers All Four Major Segments
AMBU’S SINGLE-USE ENDOSCOPY ENT portfolio PORTFOLIO COVERS ALL FOUR aScope™ 4 RhinoLaryngo MAJOR SEGMENTS Pulmonology portfolio VivaSight™ aScope™ 4 Broncho aScope™ 5 Broncho Displaying and processing units GI portfolio aScope™ Gastro aScope™ Duodeno 1.5 Urology portfolio aScope™ 4 Cysto 7
Slide 8: Strong Progress Across All Major Endoscopy Segments
STRONG PROGRESS ACROSS ALL MAJOR ENDOSCOPY SEGMENTS Current update Innovation pipeline Pulmonology Increased single-use penetration vs pre-COVID and Strengthening our market leading position expansion of addressable market with our next-gen with upcoming launches of additional sizes of and highest p
Slide 9: Thomas Frederik Schmidt, CFO
THOMAS FREDERIK SCHMIDT CFO 9
Slide 10: Reported Q3 Growth of 16% Positively Impacted by Currency
REPORTED Q3 GROWTH OF 16% POSITIVELY IMPACTED BY CURRENCY REPORTED REVENUE DEVELOPMENT (DKKm) Q3 2021/22 HIGHLIGHTS 1,128 • Reported revenue increased by DKK 155 million, 78 or 16% compared to Q3 20/21 while Q3 organic growth was 8% or DKK 78 million 78 973 • Foreign exchange rates had a positive im
Slide 11: Double-Digit Growth in ENT and Cystoscopy Across All Regions
DOUBLE-DIGIT GROWTH IN ENT AND CYSTOSCOPY ACROSS ALL REGIONS REVENUE BY BUSINESS AREA REVENUE BY GEOGRAPHY Q3 2021/22 HIGHLIGHTS Q3 2021/22 reported revenue and organic growth (DKKm) Q3 2021/22 reported revenue and organic growth (DKKm) Organic Organic growth growth • Double-digit regional growth in
Slide 12: EBIT Margin Contraction Driven by Distribution Costs, Mexico and Inventory Write-Down
EBIT MARGIN CONTRACTION IN Q3 COMPARED TO LAST YEAR DRIVEN BY DISTRIBUTION COSTS, MEXICO AND INVENTORY WRITE-DOWN EBIT MARGIN BEFORE SPECIAL ITEMS DEVELOPMENT (%) Q3 2021/22 HIGHLIGHTS 9.0% • Q3 gross margin was 55.8% compared to 62.5% Q3 last year corresponding to a decline of 6.7 ppts. -6.7 • Sell
Slide 13: Ambition to Increase Profitability and Become Cash Flow Positive
AMBITION TO INCREASE PROFITABILITY AND BECOME A CASH FLOW POSITIVE COMPANY Q3 2021/22 HIGHLIGHTS 200 20 EBIT margin before special items • Free cash flow totalled DKK 7m 14.6% Free Cash Flow 150 15 for Q3 21/22. Year to date, the 10.0% 100 9.0% 10 free cash flow was DKK -291m 50 3.9% 4.2% 3.7% 5 2 0
Slide 14: Focus on Key Drivers Negatively Impacting Free Cash Flow
FOCUS ON KEY DRIVERS THAT HAVE NEGATIVELY IMPACTED OUR FREE CASH FLOW EBITDA margin Net working capital CAPEX EBITDA margin before special items NWC, % of revenue CAPEX, % of revenue CAPEX, DKKm 14% 13% 12% 26% 573 24% 23% 21% 21% 9% 9% 19% 20% 428 414 17% 16% 14% 14% 6% 11% 233 259 141 16/17 17/18
Slide 15: 2021/22 Financial Guidance Is Maintained
2021/22 FINANCIAL GUIDANCE IS MAINTAINED COMMENTS 4% no less than • For the full-year 2021/22, we expect high single-digit organic revenue growth in the combined Anaesthesia and PMD businesses Organic revenue growth • For ENT and cystoscopy combined, we expect to sell above 700,000 endoscopes for th
Slide 16: Key Takeaways
KEY TAKEAWAYS Ambu is well-positioned to strengthen its position as the world’s leading single-use endoscopy company Strong product pipeline and commercial footprint with significant growth opportunities across all four major endoscopy segments Prospects for improvements in execution and to optimize
Slide 17: Thank You for Your Attention
THANK YOU FOR YOUR ATTENTION 25 AUGUST: Q3 2021/22 EARNINGS ANNOUNCEMENT, COPENHAGEN 25 AUGUST: ROADSHOW IN COPENHAGEN 31 AUGUST – 1 SEPTEMBER: ROADSHOW IN FRANKFURT AND PARIS 21 SEPTEMBER: ROADSHOW IN LONDON 29 – 30 SEPTEMBER: ROADSHOW IN ZURICH AND GENEVA 5 OCTOBER: J.P. MORGAN CEO CALL SERIES 15
Slide 18: P&L Details
P&L DETAILS DKKm FY 18/19 FY 19/20 Q1 20/21 Q2 20/21 Q3 20/21 Q4 20/21 FY 20/21 Q1 21/22 Q2 21/22 Q3 21/22 reported figures Revenue 2,820 3,567 1,013 1,001 973 1,026 4,013 1,031 1,122 1,128 Gross profit 1,637 2,212 662 623 608 610 2,503 634 647 629 Gross margin 58.0% 62.0% 65.4% 62.2% 62.5% 59.5’% 6