Slide 1: Interim Report Q2 2009/10
INTERIM REPORT Q2 2009/10 By CEO Lars Marcher and CFO Anders Arvai
Slide 2: Agenda
AGENDA Developments in Q2 2009/10 Strategy GPS Four – follow-up Outlook for 2009/10
Slide 3: Highlights (1): Business development in Q2
HIGHLIGHTS (1) BUSINESS DEVELOPMENT IN Q2 Good Q2. Both revenue and EBIT up relative to last year +7% Organic growth of 7% – higher than market Revenue of DKK 235m growth Gross profit margin increased to 54.5 from 53.3 in Q2 2008/09 +30% EBIT improved by 30% EBIT of DKK 32.4m Good producti
Slide 4: Highlights (1): Business development in 1H
HIGHLIGHTS (1) BUSINESS DEVELOPMENT IN 1H Good 1H. Both revenue and EBIT up relative to last year +7% Organic growth of 7% – higher than market growth Revenue of DKK 448m Gross profit margin increased to 53.8 from 51.8 in 1H 2008/09 +26% EBIT improved by 26% EBIT of DKK 51m Profit before tax
Slide 5: Revenue
REVENUE Increase in revenue in Q2 and 1H 2009/10 of 7% measured in local currencies Changes in exchange rates had a negative effect corresponding to DKK 4m in Q2 and DKK 13m in 1H Growth in Q2 of 11% in the USA and 6% in Europe measured in local currencies Growth in 1H of 11% in the USA and
Slide 6: Developments within business areas
DEVELOPMENTS WITHIN BUSINESS AREAS Airway Management Increase in revenue in Q2 and 1H of 25% and 19%, respectively, when measured in local currencies Strong growth within face masks and laryngeal masks Launch in Europe of Ambu aScope (new single-use videoscope) has gone well, and sales are dev
Slide 7: Developments within geographical areas
DEVELOPMENTS WITHIN GEOGRAPHICAL AREAS Europe Increase in revenue in Q2 and 1H of 6% and 7%, respectively, when measured in local currencies Growth in all sales regions of 4-8% except Region West which posted growth of 3% Reason for lower growth in Region West is the postponement of a major or
Slide 8: Operating profit and net financials
OPERATING PROFIT AND NET FINANCIALS EBIT after special items of DKK 32m in Q2 against DKK 25m in Q2 2008/09 Special items of DKK 1m in Q2 in the form of legal fees, lower than in Q2 2008/09 Management and administration costs were up DKK 5m in Q2 due to provisions for organisational adjustment
Slide 9: Improved cash flow
IMPROVED CASH FLOW DKKm 1H 2008/09 1H 2009/10 Cash flow from operating activities 34.8 21.6 Cash flow from investing activities, including acquisitions (75.0) (37.0) Free cash flow after acquisitions (40.2) (15.4) Cash flow from operating activities negatively impacted by increasing funds tied in
Slide 10: GPS Four: Ambu's new business strategy
GPS FOUR AMBU’S NEW BUSINESS STRATEGY
Slide 11: GPS1 Products and product development
GPS1 PRODUCTS AND PRODUCT DEVELOPMENT Q2 saw the launch of several new products A new member of the laryngeal mask family, Aura-i, was launched, a mask which can be used for intubation An improved Inoject needle for use in the localisation and treatment of involuntary muscular contractions 5
Slide 12: GPS2 Markets and sales
GPS2 MARKETS AND SALES A project has been implemented to ensure that the earnings margins within Patient Monitoring & Diagnostics are increased Work has gone into adapting the sales and marketing organisation with a view to underpinning the new regional structure and optimising sales efficiency
Slide 13: GPS3 Efficiency
GPS3 EFFICIENCY Phase 1 of the transfer of production from Denmark to Malaysia of Cardiology products has been very satisfactory Phase 2 of the transfer project is being planned. The products being transferred account for 10% of the consolidated revenue for the year Following phase 2 of the pr
Slide 14: GPS4 Acquisitions
GPS4 ACQUISITIONS Ambu is engaging in an ongoing dialogue with potential candidates for acquisition, as regards both the acquisition of product areas and the acquisition of entire companies Focus is primarily on activities which can strengthen Ambu’s position within single-use products for the h
Slide 15: Outlook for 2009/10
Ideas that work for life OUTLOOK FOR 2009/10 The Future NEXT EXIT &
Slide 16: Market challenges
MARKET CHALLENGES Global crisis still having a limited impact Despite good growth in the US market, the health care sector remains under pressure In some markets in southern Europe, pressure on the health care sector is mounting Despite intensifying competition, Ambu is winning market share
Slide 17: Outlook for 2009/10 (2)
OUTLOOK FOR 2009/10 (2) As a result of the positive developments, an upwards adjustment is made of the previously announced outlook for 2009/10 The outlook for revenue is adjusted upwards to approx. DKK 925m against previously announced revenue of DKK 900-925m The EBIT margin before special it
Slide 18: Questions
Ideas that work for life QUESTIONS
Slide 19: Read more at www.ambu.com
READ MORE AT WWW.AMBU.COM For further information, please contact: Lars Marcher, CEO, lm@ambu.com or +45 5136 2490 Anders Arvai, CFO, aa@ambu.com or +45 7225 2000