MANAGEMENT’S REVIEW – Q1 2022/23
In November 2022, Ambu launched its new company
strategy, ZOOM IN. This strategy aims to advance the
company’s position and return to strong, profitable
growth. Through a customer-centric approach to
innovation, excelling in execution, taking leaps in
sustainability and bringing together the people of Ambu,
the company will deliver strong and sustainable growth.
Endoscopy Solutions posted organic revenue growth of
Similarly, in line with the new strategy, Ambu continues
to apply a targeted and customer-centric approach to the
launch of the Ambu® aScope™ Gastro. The company is
zooming in on endoscopy segments with the greatest
need for workflow improvements – a valuable approach.
For the Ambu® aScope™ Duodeno solution, Ambu
continues to see limited adoption of the Duodeno 1.5
product, driven by clinical complexity and continued
opportunity for further product feature enhancement. The
company remains committed to the potential of the
single-use duodenoscope market and is continuing the
development of Ambu® aScope™ Duodeno 2.0.
3% (-2%), while Anaesthesia and Patient Monitoring
(formerly Patient Monitoring & Diagnostics) grew by 4%
(-6%) and 6% (7%), respectively. Within Endoscopy
Solutions, the main growth drivers were urology and ENT
(ear, nose and throat). For both endoscopy segments,
Ambu saw an increased uptake of orders and entry of
new customers, especially in the U.S. The continued
double-digit growth rates reflect a strong resonance with
customers concerning the benefits of single-use endo-
scopy, specifically patient safety, workflow and efficiency.
The 2022/23 financial year is expected to be a transition
year for Ambu. In the first quarter of 2022/23, the com-
pany has taken important steps on its transformation
journey. The strategy has been rolled out globally, and
the transformation program – which includes dedicated
projects to drive efficiency, accelerate long-term revenue
growth and increase profitability – is progressing as
planned. Ambu is committed to sustaining the positive
momentum of the strategy launch, and at the centre of all
activities lies the company’s strategic aspiration of being
the most customer-centric in the field.
In line with expectations, Ambu’s pulmonology business
declined by 17%, mainly due to high comparables in
Europe related to the Covid-19 variant, Omicron.
Additionally, higher levels of competition in the U.S and
the voluntary recall of Ambu® VivaSight™ 2 DLT
impacted performance. However, Ambu saw a positive
driver in the flu season driving sales, in particular in North
America. From the second half of 2022/23, the pulmono-
logy business is expected to deliver year-on-year growth,
and going forward, the company will strengthen its
position with the launches of smaller sizes of the Ambu®
aScope™ 5 Broncho HD, as well as its upcoming video
laryngoscope 2.0 and the re-launch of Ambu®
CONTRIBUTING TO A SUSTAINABLE FUTURE
Taking leaps towards a sustainable future is one of the
four zoom areas in Ambu’s strategy. The company is
committed to driving a strong sustainability agenda, with
increased customer focus being the focal point. To
accommodate this focus, Ambu has dedicated additional
resources to map out how sustainability issues affect the
needs of customers and other stakeholders. This inclu-
des feedback from key opinion leaders and medical
associations in key markets. Also, Ambu continues to
advance its sustainability agenda, including a commit-
ment to circular products and packaging and additional
steps taken towards recycling and use of bioplastics.
As Ambu transforms, it will evolve its ways of working
and its ways of serving customers. It will zoom in on the
key value drivers across solutions, geographies and
customer segments. And although the company is
looking to the 2022/23 financial year with expectations of
a continued volatile global economic landscape, inclu-
ding high inflation and interest rates, staff shortages at
hospitals and strikes among healthcare workers, the
ZOOM IN strategy is developed to secure the flexibility
needed to be successful in the current macroeconomic
environment. Re-arranging resources in line with
customer needs and market opportunities is key in the
company’s plan of action to create strong value for
customers and shareholders.
VivaSight™ 2 DLT.
TARGETED CUSTOMER APPROACH
A pioneering French study published in December 2022
added valuable perspectives to the topic of single-use
endoscopy and sustainability. The study, titled “Life Cycle
Assessment of Reusable and Disposable Cystoscopes”,
highlighted reusable cystoscopes as having “a signi-
ficantly larger environmental footprint and impact” than
Ambu’s single-use cystoscope. Specifically, the study
showed that the environmental footprint of a flexible
cystoscopy procedure can be reduced by 33% by using
the Ambu® aScope™ 4 Cysto instead of a reusable
For Ambu’s newly launched single-use endoscopes –
Ambu® aScope™ Gastro in GI and Ambu® aScope™ 5
Broncho in pulmonology – the global launches are pro-
gressing well. During the first months of the launches,
feedback from customers continued to be positive.
For Ambu’s fifth-generation bronchoscope solution,
which is developed to meet the needs of the highly com-
plex procedures in the bronchoscopy suite, customers
are emphasising the quality and capabilities of the solu-
tion. While the launch is still in the early stages, the
solution has demonstrated ‘on par’ and even superior
performance to reusable bronchoscopes.
Q1 FINANCIAL PERFORMANCE
Ambu had a good start to the 2022/23 financial year.
Organic revenue growth for the first quarter reached 4%
(-1%), driven by solid performance across all three
business areas.
cystoscope.
This is primarily due to the amount of disin-
fection reprocessing resources needed within reusable
.
endoscopy
5
Company announcement no. 4 2022/23
|
7 February 2023
