Ambu A/s Class B · OMXCOP:AMBU_B
Ambu A/s Class B — Q3 2014/15 Earnings Presentation
19 slides from Ambu A/s Class B's earnings presentation, Aug 19, 2015
Slide 1: Q3 interim report 2014/15
Q3 interim report 2014/15 April 1 – June 30 CEO Lars Marcher CFO Michael Højgaard Webcast: August 19 2015
Slide 2: Agenda
Agenda • Q3 Highlights • Status on business • Expanding aScope platform Disclaimer • Financials and outlook 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, ma
Slide 3: Q3 Highlights
Q3 Highlights Organic growth 9% • Growth of 9% in local currencies and 21% in Danish kroner • Revenue of DKK 482m Q3 13/14 Q1 14/15 Q3 14/15 • Gross margin of 48.1% (51.6%) – impacted by strong US dollar and product mix Gross margin • EBIT margin at 11.6% (13.9%) • Above market growth in all regions
Slide 4: Strong global performance
Strong global performance Q3 organic growth North America • Growth of 5% 5% • Strong aScope sales 10% • Emergency Care reduces US growth 21% Europe Q3 revenue split • Growth of 10% • Good momentum across markets • Strong growth in all products 12% Rest of world 41% • Growth of 21% • Growth in Asia i
Slide 5: Anaesthesia and PMD in growth
Anaesthesia and PMD in growth Q3 organic growth Anaesthesia • Growth of 16% 16% • Strong growth from all product platforms 5% • aScope 3 sales more than doubled vs. Q3 13/14 -8% Patient Monitoring & Diagnostics • Growth of 5% Q3 revenue split • Back on track after periodic variations 7% Emergency Ca
Slide 6: aScope continues to grow
aScope continues to grow • Year-to-date sales exceed DKK 100m • Revenue as well as units sold have more than doubled in Q3 and YTD compared to last year • Overall ASPs are maintained • Increase in number of hospitals using aScope • Manufacturing continues to support aScope demands Q1 Q2 Q3 Q4 Q1 Q2
Slide 7: Anaesthesia update
Anaesthesia update Laryngeal masks • Successful AuraGain product supported by launch of pediatric sizes • Now full range in AuraGain • Ambu continues to take market share with our laryngeal masks 7
Slide 8: PMD update
PMD update Cardiology • Ambu BlueSensor and WhiteSensor electrodes • Continued strong market presence in cardiology Neurology • Neurophysiology is a global growth platform • Unique product offering • High yield products 8
Slide 9: Expanding aScope platform
Expanding aScope platform • Partnerships are part of our strategy – Climbing New Heights 2017 • We are currently expanding the aScope technology platform in a partnership with a global medtech company • The new product is in the final stages of product development, and expected launch is by end of 2
Slide 10: The global endoscopy market – one segment
The global endoscopy market – one segment • Market size for reusable (not single-use) pulmonary endoscopy is USD 1.2bn • aScope 3 is currently Ambu aScope estimated to address approx. 75% of all procedures in pulmonary endoscopy • The potential for aScope 3 is estimated at 3 million procedures Marke
Slide 11: The global endoscopy market – all segments
The global endoscopy market – all segments Ambu aScope Market sizes are for current reusable market 11 Source: Endoscopy Global Market 2014, IQ4I Research
Slide 12: Financial results and outlook
Financial results and outlook
Slide 13: Financial results
Financial results DKKm Q3 14/15 Q3 13/14 • The appreciating USD continues to Revenue 482 397 have a significant impact to our P&L Gross profit 232 205 Gross Margin (%) 48.1 51.6 • Gross Margin impacted by scale from Capacity costs -176 -150 Fx as well as price and mix EBIT 56 55 • Underlying growth
Slide 14: Fx impact Q3 YTD
Fx impact Q3 YTD • Fx impact on revenue growth • Revenue nominated in USD is approx. 50% of revenue • Q3 YTD USD/DKK has appreciated approx. 18% vs. same period last year • Leading to a positive total Fx impact on revenue of approx. 9% • Impact on EBIT and cash flow from Fx is balanced out • Going f
Slide 15: Balance sheet
Balance sheet DKKm Q3 14/15 Q3 13/14 • Total assets at DKK 2.3bn. - Up Total assets 2,288 1,974 16% over LY Equity 978 701 • Increased working capital to Working capital 565 410 support growth. Ratio increase by 4% of which Fx contributes 2%- Net interest-bearing debt 804 784 pts. Gearing (NIBD/EBIT
Slide 16: Full-year 2014/15 outlook
Full-year 2014/15 outlook Outlook for Local currency Danish kroner 2014/15 19 August, 2015 6 May, 2015 19 August, 2015 6 May, 2015 Revenue ~9% 8-8.5% ~19% ~19% EBIT-margin 12.5-13% 12.5-13% ~12.0% ~12.0% (fixed rate) (fixed rate) Free cash flows - - ~100m 110-120m Gearing - - ~2.2 ~2.2 16
Slide 17: In summary
In summary • Strong growth continues • Global position strengthened • Significant impact from strong USD • Expansion of aScope platform • Full-year outlook adjusted 17
Slide 18: Q&A
Q&A
Slide 19: Read more at www.ambu.com
Read more at www.ambu.com Contact CEO Lars Marcher, lm@ambu.com or +45 5136 2490 CFO Michael Højgaard, miho@ambu.com or +45 4030 4349 19