Fra Ambu:
Today, Ambu announces preliminary Q1 2024/25 results and raises expectations for the full 2024/25 financial year. The outlook for organic revenue growth is set to 11-14% (previously 10-13%) and for EBIT margin before special items to 13-15% (previously 12-14%).
The raised organic growth outlook is mainly driven by better-than-expected revenue growth in Anaesthesia & Patient Monitoring, driven by price increases and solid volume growth. In addition, the raised outlook is supported by continued strong organic growth in Endoscopy Solutions, driven by solid pulmonology momentum and continued strong growth across urology, ear-nose-throat (ENT) and gastroenterology (GI).
Furthermore, the raised EBIT margin outlook is driven by continued strengthened operational leverage in OPEX from organic revenue growth and is also positively affected by the strengthening of the USD/DKK currency, relative to the previous outlook from 5 November 2024. Finally, the updated EBIT guidance reflects the increased expectations for organic revenue growth and also includes an expectation of continued investments to support growth for the remainder of the financial year.
PRELIMINARY AND UNAUDITED FINANCIAL HIGHLIGHTS FOR Q1 2024/25
Last year’s comparative figures are stated in brackets.
- Revenue was DKK 1,510m (DKK 1,254m), with organic revenue growth of 19.5% (14.2%), mainly driven by continued strong growth in both pulmonology and urology, ENT and GI within Endoscopy Solutions, delivering a combined total growth of 20.6% (25.1%), supplemented by strong growth of 17.8% (1.2%) in Anaesthesia & Patient Monitoring, driven by price increases and solid volume growth, combined with a weaker comparison quarter. Total reported growth for the quarter was 20.4% (10.9%).
- EBIT before special items was DKK 243m (DKK 126m), with an EBIT margin before special items of 16.1% (10.0%). The strengthened EBIT margin was primarily driven by operational leverage on OPEX from organic growth, as well as the continued strengthening of the USD/DKK currency, although partially offset by increased investments aimed at driving organic growth.
REVISED OUTLOOK FOR THE FISCAL YEAR 2024/25
Driven by the development in the first quarter of the 2024/25 financial year, Ambu’s 2024/25 financial outlook is set as per below:
OUTLOOK FY 2024/25 | 9 JAN 2025 | 5 NOV 2024 |
Organic revenue growth | 11-14% | 10-13% |
EBIT margin before special items | 13-15% | 12-14% |
In addition, Ambu now expects the organic revenue growth for Anaesthesia & Patient Monitoring to reach mid-to-high single digits (previously mid-single digits).
Ambu’s expectations for the Endoscopy Solutions organic revenue growth are unchanged at +15%. Similarly, Ambu’s free cash flow expectations are maintained at DKK +500m.
Ambu will publish its full Q1 2024/25 interim results, as previously announced, on 30 January 2025.
