Slide 1: Interim Report Q1 2010/11
INTERIM REPORT Q1 2010/11 BY CEO LARS MARCHER AND CFO ANDERS ARVAI 1
Slide 2: Agenda
AGENDA Developments in Q1 2010/11 Status of GPS Four Outlook 2010/11 2
Slide 3: Highlights in Q1 2010/11
HIGHLIGHTS IN Q1 2010/11 Markedly improved earnings Continued strong growth in revenue, including significant growth in the USA Developments in certain regions in Europe have been characterised by periodical changes in 6% 53% growth in demand growth in operating profit Important structural c
Slide 4: Satisfactory increase in revenue
SATISFACTORY INCREASE IN REVENUE Development in revenue, DKKm Revenue of DKK 233m, up 9% when measured in DKK and 6% when measured in local currencies Growth higher than estimated market growth – Ambu has won market share Effect of changes in exchange rates: + DKK 8m Streamlining of sales US
Slide 5: Developments within business areas
DEVELOPMENTS WITHIN BUSINESS AREAS Airway Management, DKKm Growth in revenue of 14% and 11% when measured in local currency General market growth of 3-5% Strongest growth within laryngeal masks and satisfactory growth for aScope Good synergies from aScope to other products Patient Monitoring
Slide 6: Operating profit
OPERATING PROFIT EBIT before special items, DKKm EBIT before special items of DKK 29m against DKK 19m in Q1 2009/10 – up 53% Special itemsof DKK 0.4m (patent cases) No significant effect from exchange rates EBIT marginally impacted by transfer of production in Q1 EBIT-margin before special
Slide 7: Cash flow impacted by transfer of production
CASH FLOW IMPACTED BY TRANSFER OF PRODUCTION DKKm Q1 2009/10 Q1 2010/11 Cash flow from operating activities (1.1) (3.2) Cash flow from investing activities, including (13.5) (5.5) acquisitions Cash flow from financing activities 26.4 15.2 Free cash flow after acquisitions (14.5) (8.6) Cash flow fr
Slide 8: GPS Four: Status of Ambu's business strategy
GPS FOUR STATUS OF AMBU’S BUSINESS STRATEGY 8
Slide 9: Heading for a stronger Ambu: four GPS coordinates
HEADING FOR A STRONGER AMBU FOUR GPS COORDINATES Targets 2013 GPS1 INNOVATION Global market-leader within innovative single-use products for hospitals and rescue services GPS2 MARKETS AND SALES Significantly higher revenue GPS3 EFFICIENCY Increasing EBIT margin of up to 15% Efficient operations and
Slide 10: GPS1 Innovation
GPS1 INNOVATION A global innovation organisation has been implemented, and the training of the employees has commenced Ambu’s global innovation A global exclusive agreement with the Israeli organisation is now almost in place, company MFS (Medical Flow Systems) has been which will pave the way f
Slide 11: GPS2 Markets and Sales
GPS2 MARKETS AND SALES Expansion of the sales force and further strengthening of the tele sales department Increased investments in developing the Building of partnership relations in Asia and sales organisation have had the desired strategy for penetrating the Chinese and Indian effect in the f
Slide 12: GPS3 Efficiency
GPS3 EFFICIENCY The second stage of the transfer of electrode production was completed in October 2010 during transfer to Malaysia – all production activities will The transfer of production from be combined in China and Malaysia in the course Denmark to Malaysia has been a of 2011 huge project wh
Slide 13: GPS4 Acquisitions
GPS4 ACQUISITIONS Exclusive agreement with MFS will ensure a transfer of technology to Ambu in a growth It takes time to ‘mature’ acquisitions – market; the possible exercising of an option to ownership structure and price purchase MFS’s product technology is being expectations often an obstacle.
Slide 14: Outlook 2010/11
OUTLOOK 2010/11 2010/11 Assumptions Revenue, DKKm In the region of 1,000 Launch of new products Growth, % 6 Growth exceeding market growth Growth in local currencies, % 6 Continued intensified sales efforts USD exchange rate: 540 GBP exchange rate: 875 EBIT margin before special items, % Just over 1
Slide 15: Development in pending patent cases
DEVELOPMENT IN PENDING PATENT CASES USA LMA’s patent in the USA was invalidated in October 2009 An appeal was lodged by LMA, and in January 2011 the case was sent back to the District Court in California for further consideration Ambu is waiting to hear the details of the rest of the process E
Slide 16: Good starting point for further growth
GOOD STARTING POINT FOR FURTHER GROWTH “ FY 2010/11 has got off to a good start. We can see that the many strategic initiatives are bearing fruit, and basing our activities on the GPS Four strategy and the High Five targets, I am confident that we will be able to create further growth in both revenu
Slide 17: Questions
QUESTIONS Ambu+
Slide 18: 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 18