Ambu (AMBU) CMD 2025 summary

Strategic direction and market outlook

• Launched the ZOOM AHEAD strategy to achieve global leadership in single-use endoscopy, building on a successful turnaround and profitable growth from the previous strategy.

• Focused on four core segments: respiratory, urology, ENT, and GI, with respiratory and urology as key growth drivers and GI as a long-term opportunity.

• Strategic themes include customer centricity, innovation, scalable business platform, people & culture, and sustainability, guiding execution and differentiation.

• Emphasis on expanding digital solutions (Endo Intelligence/Endolntelligence™), sustainability leadership, and leveraging a broad portfolio to drive standardization and customer loyalty.

• M&A will be pursued selectively to accelerate Endoscopy Solutions growth, focusing on technology, capabilities, and adjacencies aligned with strategic priorities.

Financial guidance and growth targets

• Increased long-term organic revenue growth target to 11%-13% CAGR through FY 2029/2030, with Endoscopy Solutions expected to deliver 15%-20% CAGR.

• EBIT margin targeted at over 20% by FY 2029/2030, with a milestone of around 20% by FY 2027/2028, driven by gross margin expansion and OPEX leverage.

• Cash conversion expected to exceed 40% across the strategy period, supported by disciplined capital allocation prioritizing organic growth, M&A, and shareholder returns.

• Anesthesia and patient monitoring growth ambitions raised to 3%-5% CAGR, reflecting improved commercial execution and market position.

• Growth acceleration supported by innovative launches, commercial investments, and operational leverage.

Market opportunities and business developments

• Single-use endoscopy market projected to grow at 20% CAGR, reaching over DKK 15 billion in five years, with significant runway in Respiratory, Urology, ENT, and early-stage Gastroenterology.

• Holds over 60% share in single-use endoscopy, with the broadest portfolio and largest direct commercial footprint.

• Clinician preference for single-use driven by efficiency, economics, and infection control, supported by strong clinical evidence and customer engagement.

• Innovation pipeline includes next-generation scopes, AI-enabled Endo Intelligence/Endolntelligence™, and digital integration for improved clinical outcomes and workflow efficiency.

• Sustainability initiatives include bioplastics in all endoscopes, bioplastic handles, recycling programs, and a target of 50% circular materials and 1 million devices recycled by 2030.