Slide 1: Interim report Q2 2012/13
Interim report Q2 2012/13 January 1 - March 31 2013 By CEO Lars Marcher and CFO Michael Højgaard 1
Slide 2: Agenda
Agenda • Development in Q2 2012/13 • Status on the King Systems acquisition • Outlook for 2012/13 2
Slide 3: Highlights for Q2 2012/13
Highlights for Q2 2012/13 • Reported revenue growth of 26% and organic growth of 3% • Busy quarter with high focus on integration of King Systems and with overall good performance in US 26% increase in • Lower gross margin due to inclusion of King revenue Systems and Unomedical electrode business, a
Slide 4: Financial information for Q2 2012/13
Financial information for Q2 2012/13 Revenue, DKKm EBIT before special items, DKKm EBIT margin before special items, % 350 50 20 300 40 15 250 200 30 10 150 20 100 5 10 50 0 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 • Revenue of DKK 335m – • EBIT before special items of • EBIT margin before special up
Slide 5: Development in revenue for the quarter, by region
Development in revenue for the quarter, by region USA, DKKm Europe, DKKm Rest of the world, DKKm 50 200 40 150 150 30 100 100 20 50 50 10 0 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 • Revenue growth of 63% and • Growth in revenue of 9% • Increase in revenue of 17% 4% organically and 1% organically and
Slide 6: Development in revenue for the quarter, by business area
Development in revenue for the quarter, by business area Anaesthesia, DKKm Patient Monitoring Emergency Care, DKKm & Diagnostics, DKKm 150 50 150 40 100 30 100 20 50 50 10 0 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 • Growth in revenue of 48%, • Growth in revenue of 18% • Decline in growth of 1%, 2% o
Slide 7: Special Items, first half 2012/13
Special Items, first half 2012/13 DKKm 1H 2012/13 Transaction costs to advisors in relation to the acquisition of King -12.2 Systems Provision for redundancies -14.0 Integrations costs, hereunder implementation of common ERP -6.7 system Total special Items -32.9 7
Slide 8: Positive free cash flow
Positive free cash flow DKKm Q2 2011/12 Q2 2012/13 Cash flow from operating activities 33 44 Cash flow from investing activities, net & before acquisitions -10 -17 Free cash flow, before acquisitions -23 27 Acquisitions n/a -702 • Cash flow from operating activities improved to DKK 44m due to the lo
Slide 9: Successful Corporate Bond issue
Successful Corporate Bond issue • A total issue size of DKK 700.5m, net DKK 697m • Distributed by 934 bonds, each with a nominal value of DKK 750,000 • Five year duration • Final maturity date on the 15th of March 2018 • Fixed rate, priced at mid-swap +218bps with a yearly coupon of 3.375% • Due to
Slide 10: Launch of new improved version of aScope and monitor
Launch of new improved version of aScope and monitor Length 600mm 10
Slide 11: "This is all my customers asked for"
“This is all my customers asked for” Efficient suction channel – aScope 3 Smaller OD for Thoracic Anaesthesia – aScope 3 Slim Enhanced picture quality New ergonomic handle Improved bending ability “I had a meeting with a key customer one year ago. He presented me with a One monitor for a
Slide 12: Status on the King Systems acquisition
Status on the King Systems acquisition 12
Slide 13: Acquisitions process on track
Acquisitions process on track • Major restructuring of the combined US business has been conducted • Two focused sales forces. 50 sales representatives in Anaesthesia and 30 sales representatives in Cardiology, Neurology and Emergency Sales • Redundancies of approx. 30 employees • Steven Block appoi
Slide 14: New King Vision (single use blades), status
New King Vision (single use blades), status Timing and impact • Launch expected within the financial year • Milestone payment of USD 10m
Slide 15: What we want by year end 2012/13
What we want by year end 2012/13 A much stronger US presence A much leaner organisation A more focused business approach A much more global operation (Anaesthesia & PMD&E) A strong leadership in single use “day Massive leverage and achievement to day” products combined with high of synergies level t
Slide 16: Outlook 2012/13
Outlook 2012/13
Slide 17: The outlook for 2012/13 slightly revised
The outlook for 2012/13 slightly revised 2012/13 Comments Revenue Approx. 1,400 million DKK Strong focus on implementation of new sales organization in US. Based on USD/DKK 575 and GBP/DKK 900 EBITDA-margin, % Approx. 17.5% (previous Reduction is driven by some PPA adjustments, (before special items
Slide 18: GPS Four – Strategy 2017 in process
GPS Four – Strategy 2017 in process 18
Slide 19: Questions
Ambu* Ideas that work for life Questions
Slide 20: 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 20