Ambu A/s Class B · OMXCOP:AMBU_B
Ambu A/s Class B — Q1 2019/20 Earnings Presentation
20 slides from Ambu A/s Class B's earnings presentation, Feb 4, 2020
Slide 1: Investor presentation Q1 2019/20 results
Investor presentation Q1 2019/20 results
Slide 2: Agenda
Agenda • Business update • Financial results and outlook • 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 control, may cause the actual development of
Slide 3: Key messages for Q1 2019/20
Key messages for Q1 2019/20 1 Strong start to 2019/20 with 14% organic growth The transition of the US aScope distributor has been completed and we have retained most of the business managed by the former distributor Strong double-digit Visualization performance across all geographies 2 Commerci
Slide 4: Unique market opportunity: $2.5B+ by 2024
Unique market opportunity: $2.5B+ by 2024 One of medtech’s most exciting markets – Ambu is currently the market leader Compelling value proposition: $2.5B+ Infection control single-use market Convenience opportunity by 2024 Economics and workflow efficiency Strong interest from major industry player
Slide 5: Strong start to 2019/20 with 14% organic growth
1 Strong start to 2019/20 with 14% organic growth Endoscope units sold (‘000) Core business trending at ~4-5% growth Organic growth, % PMD Aneasthesia ~900 Core 9% Price changes in Q4, 618 hence adjusted for Q4 560 4-5% 5% 364 4% 10% 8% 200 6% Core 5% 96 4% 4% 14 40 180 Q1 12/13 13/14 14/15 15/16 16
Slide 6: Continuing strong ENT uptake in US
1 Continuing strong ENT uptake in US As we scale up commercial infrastructure, we see faster customer penetration Unit volume first 31 weeks, US market Accelerating pace of new US ENT customers aScope™ 4 RhinoLaryngo (ENT) vs. aScope™ 3 aScope 3 (Pulmonology) 4x ▪ Positive sales performance as we se
Slide 7: Accelerating commercial execution, investing in key markets
2 Accelerating commercial execution, investing in key markets Expansion is developing according to plan and is on track APAC North America Europe ▪ Expansion in key markets is ▪ We have almost tripled our US ▪ Expansion in key markets is developing according to plan Visualization sales force develop
Slide 8: Strong R&D and manufacturing capabilities
3 Strong R&D and manufacturing capabilities Allowing us to expand our portfolio in high-growth procedures Largest single-use R&D organization High scale, low-cost production 10+ years of experience producing 200+ internal and 100+ external FTEs single-use endoscopes 5 R&D centers and 5 exclusive tec
Slide 9: Strong pipeline to capture full single-use market opportunity
3 Strong pipeline to capture full single-use market opportunity Product Launch aView 2 Advance™ Q3, 2019/20 Commercially available Monitors aBox Console™ Q2, 2020/21 Launches in 2019/20 aScope™ 4 aScope BronchoSampler™ VivaSight Pulmonary aScope™ 5 HD Q4 2021/22 (5 million market) aScope™ 5 for smal
Slide 10: Upcoming launches in 2019/20 to strengthen our portfolio
3 Upcoming launches in 2019/20 to strengthen our portfolio aView™ 2 Advance Cystoscope Duodenoscope Pulmonology ENT Urology 6m market opportunity 2m market opportunity ▪ Enhances our image quality significantly ▪ Launch of Cystoscope enables entry ▪ Duodenoscope market is expected to be and makes fu
Slide 11: Agenda
Agenda • Business update • Financial results and outlook • 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 control, may cause the actual development of
Slide 12: Key financial results in Q1 2019/20
Key financial results in Q1 2019/20 Strong start to 2019/20 and on track to meet full year guidance Q1, Full year 2019/20 guidance Organic revenue growth 14% 16-22% Financial EBIT margin 12.2% 12-14% results Before special items Endoscopes sold (‘000 units) 180 ~ 900 • Strong double-digit Visualizat
Slide 13: Organic sales growth by geography
Organic sales growth by geography Q1 2019/20 revenue and growth across regions Global North America 28% 38% 24% Visualization 23% Visualization 760m 14% Anaesthesia 376m 16% Anaesthesia organic 8% organic 8% DKK revenue growth DKK revenue growth 10% PMD 24% PMD 34% Europe Rest of world 22% Visualiza
Slide 14: Growth and profits
Growth and profits Building commercial scale to handle product launches for the coming quarters Ambu P&L – Q1 2019/20 Q1 Revenue DKK 760m Organic growth of 14% with strong double-digit DKKm Q1 19/20 Q1 18/19 Change Change Visualization performance across all geographies value % Revenue 760 656 104 1
Slide 15: Cash flow, assets and debt
Cash flow, assets and debt Negative cash flow as expected due to strategic decisions in Q4 2018/19 Ambu cash flow and balance Free cash flow before acquisitions at Q1 Q1 Change DKK -190m DKKm Caused by normalization of working capital from changed 19/20 18/19 in value Cash flow and ratios pricing po
Slide 16: 2019/20 Guidance
2019/20 Guidance 16-22% 12-14% ~ 900,000 Organic EBIT Endoscope growth margin units sold Billede 16
Slide 17: Uniquely positioned for value creation
Uniquely positioned for value creation Our competitive advantages Our 2024 aspiration Global leader in single-use visualization Broadest and most innovative with 10 years of experience portfolio in single-use visualization Market-leading R&D and innovation, Industry leading growth profile highly sca
Slide 18: Q&A Conference call
Q&A Conference call DK: +45 3544 5577 UK: +44 3333 000 804 PIN code: 72232066# 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 18
Slide 19: Investor contact information
Investor contact information Share Information Financial calendar Ambu A/S is listed on the stock exchange in 2020 Copenhagen under the symbol AMBU B 04 February Q1 2019/20 For further company information, please visit: 05 May Q2 2019/20 www.ambu.com 26 August Q3 2019/20 11 November Q4 2019/20 Inves
Slide 20: Ambu – The single-use company
Ambu – The single-use company