Slide 1: The Most Innovative Single-Use Endoscopy Company
THE MOST INNOVATIVE SINGLE-USE ENDOSCOPY COMPANY Ambu Investor Presentation Q1 2020/21 results 27th of January 2021 1
Slide 2: Agenda and Disclaimer
The world’s most Business update innovative single-use Financial results and outlook endoscopy player Q&A Disclaimer Forward-looking statements, especially such relating to future sales and operating profit, are subject to risks and uncertainties. Various factors, many of which are outside Ambu’s co
Slide 3: Key messages
Key messages 1 Single-use endoscopy is one of the most attractive “new markets” in MedTech ▪ The COVID-19 pandemic makes healthcare systems more focused on infection control and open to single-use endoscopy across all of our Visualization segments ▪ Medical authorities in both U.S. and Europe suppor
Slide 4: Single-use endoscopy is one of the most attractive new markets in MedTech
1 Single-use endoscopy is one of the most attractive “new markets” in MedTech Drivers creating the single-use endoscopy market DKK +17bn Increased focus on contamination and I infection control from medical authorities Rapid technology advancements II strengthening single-use clinical performance Co
Slide 5: The case for single-use endoscopy continues to strengthen
1 The case for single-use endoscopy continues to strengthen INCREASED FOCUS ON MEDICAL AUTHORITIES SUPPORT INFECTION CONTROL SINGLE-USE TRANSITION 2020 marks the year with the highest number More reimbursement support of peer-reviewed studies (26) regarding for single-use duodenoscopes contamination
Slide 6: Business Update
BUSINESS UPDATE 6
Slide 7: Healthcare systems continue to be impacted by COVID-19
2 Healthcare systems continue to be impacted by COVID-19 with elective procedures not being back at 100% Core (Anaesthesia and PMD), quarterly growth Core business remains impacted by COVID-19 and post revenue 9% growth of +1% 4% Continuing high demand for 1% resuscitators drives growth in Anaesthes
Slide 8: Strong start to 2020/21 with Visualization growth of 101% in Q1
2 Strong start to 2020/21 with Visualization growth of 101% in Q1 Endoscope units sold increased by 106% in Q1 Endoscope units sold (‘000) ▪ Visualization business becomes the biggest revenue contributor to Ambu’s business (55% of total revenue) 1,300-1,400 ▪ High demand from NHS England as part of
Slide 9: Rapid expansion across all endoscopy segments with multiple growth drivers
2 Ambu has embarked on a rapid expansion across all endoscopy segments with multiple growth drivers aScope™ Duodeno aScope™ aScope™ Cysto Cysto Multiple new Visualization growth drivers for 2020/21 aScope™ aScope™ aScope™ and beyond Rhinolaryngo Rhinolaryngo Rhinolaryngo (ENT) (ENT) (ENT) aScope™ aS
Slide 10: Increased penetration and expanded Pulmonology customer base
2 We have increased the penetration and expanded our Pulmonology customer base on the back of COVID-19 Pulmonology highlights for Q1 2020/21 ▪ Pulmonology associations have continued to recommend single-use bronchoscopy to avoid cross-contamination during the COVID-19 pandemic ▪ In Europe, aScope™ 4
Slide 11: aScope Rhinolaryngo (ENT) showing strong growth despite COVID-19
2 aScope™ 4 Rhinolaryngo (ENT) showing strong growth despite COVID-19 Highlights for aScope™ 4 Rhinolaryngo Q1 2020/21 Monthly global unit sales since launch in 2018/19 ▪ ENT endoscope unit sales shows strong growth aScope™ 4 Rhinolaryngo (ENT) 280% growth in Q1 2020/21 over Q1 2019/20 40% growth in
Slide 12: aScope Cysto launch showing strong potential in urology
2 aScope™ 4 Cysto launch is showing strong potential for single-use endoscopy in urology Highlights for aScope™ 4 Cysto Q1 2020/21 Comparison of U.S. unit sales ▪ U.S. launch continues its strong traction as Accumulated # of units sold in U.S. first 8 months customer acquisition accelerates aScope™
Slide 13: aScope Duodeno is under way
2 aScope™ Duodeno is under way 550-patient clinical trial for “Once you become comfortable, 80-90% of ERCP cases could be done with the aScope™ Duodeno” aScope™ Duodeno has started, Dr. Frank Gress, fellow and has served several leadership roles within of and our clinical trial is expanded the Ameri
Slide 14: Strong progress in commercialization of aScope Duodeno
2 Strong progress in commercialization of aScope™ Duodeno Three major U.S. GPOs have our aScope™ I Duodeno on contract accounting for +90% of the U.S. healthcare market 370 ERCP accounts representing ~30% of the II total ERCP market have lined up for evaluation of the aScope™ Duodeno ~30 ERCP accoun
Slide 15: In 2020/21, we will expand our position in GI and Broncho suite
3 In 2020/21, we will expand our position in GI and Broncho suite Product Launch aView™ 2 Advance Commercially available Monitors aBox™ Console H2, 2020/21 Launches in 2020/21 aScope™ 4 Broncho aScope BronchoSampler™ VivaSight™ Pulmonology aScope™ 5 HD Q4, 2020/21 aView™ 2 Advance aScope™ 5 for smal
Slide 16: Ambu will emerge as the leading single-use player on the back of its rich pipeline
3 Ambu will emerge as the leading single-use player on the back of its rich pipeline Ambu’s ecosystem 8 8 ▪ Most complete portfolio of new new single-use endoscopes with products products advanced diagnostic capabilities ▪ Monitors and consoles 4 leveraged across multiple new single-use endoscopes 3
Slide 17: Financial Results and Outlook
FINANCIAL RESULTS AND OUTLOOK 17
Slide 18: Key financial results for Q1 2020/21
Key financial results for Q1 2020/21 39% 14.6% 370 Q1 organic revenue EBIT margin Endoscopes sold 2020/21 growth before special items (‘000 units) Guidance 17-20% 11-12% 1,300-1,400 Full year 2020/21 organic revenue EBIT margin Endoscopes sold growth before special items (‘000 units) • Increased dem
Slide 19: Organic sales growth by geography
Organic sales growth by geography Q1 2020/21 revenue and growth across regions Global North America 55% 20% 101% Visualization 35% Visualization 1,013m 39% Anaesthesia 391m 13% Anaesthesia organic 5% organic 2% DKK revenue growth DKK revenue growth -3% PMD -13% PMD 25% Europe Rest of World 194% Visu
Slide 20: Financial results Q1 2020/21
Financial results Q1 2020/21 Reported growth of 33% and organic growth of 39% Ambu P&L – Q1 2020/21 39% organic growth Adjusted for large orders from NHS Q1 Q1 Change in UK, organic growth is 23% DKKm Change % 20/21 19/20 in value Revenue 1,013 760 253 33% Production costs -351 -303 -48 16% 65.4% gr
Slide 21: Cash flow, assets and debt Q1 2020/21
Cash flow, assets and debt Q1 2020/21 Ambu cash flow and balance sheet – Q1 2020/21 Q1 Q1 Change DKKm 20/21 19/20 in value DKK 2m free cash flow Cash flow and ratios Equal to 0% (25%) of Cash flow from operating activities 106 -110 216 the quarter’s revenue Cash flow from investing activities before
Slide 22: Strengthening of the capital base to ensure strategic and operational flexibility
Strengthening of the capital base to ensure strategic and operational flexibility Our strategy to become the most innovative single-use endoscopy player is well underway with launches into markets for colon, gastro and bronch suite this financial year DKK ~1.3bn expected generated proceeds The devel
Slide 23: 2020/21 Guidance
2020/21 Guidance 17-20% 11-12% 1.3-1.4m organic EBIT endoscope growth margin units sold (before special items) Visualization will continue to be the main growth driver with high double-digit growth rates Anaesthesia and PMD growth are expected to be back-end loaded due to low comparisons in 2019/20
Slide 24: Q&A Conference call
Q&A Conference call DK: +45 3544 5577 UK: +44 333 300 0804 US: +1 631 913 1422 PIN code: 99186212# Please limit your questions to only 3 at a time and get back into the queue if you For questions, please press 01 have additional questions 24
Slide 25: Investor contact information
Investor contact information Share Information Financial calendar Ambu A/S is listed on the stock exchange in 2021 Copenhagen under the symbol AMBU B 12 May Q2 2020/21 For further company information, please visit: 17 August Q3 2020/21 www.ambu.com 9 November Q4 2020/21 14 December Annual General Me
Slide 26: Ambu – The single-use company
Ambu – The single-use company