2024-01-30 14:23:02 ET
Ambu A/S (AMBFF)
Q1 2024 Earnings Conference Call
January 30, 2024 05:00 AM ET
Company Participants
Britt Jensen - CEO
Henrik Skak Bender - CFO
Conference Call Participants
Rickard Anderkrans - Handelsbanken
Christian Ryom - Danske Bank
Niels Granholm Leth - Carnegie
David Adlington - JPMorgan
Yiwei Zhou - SEB
Presentation
Britt Jensen
Good morning, everyone, and welcome to this Earnings Call this morning, where we will report on Ambu's First Quarter Results in our Fiscal Year 2023-2024. My name is Britt Meelby Jensen, and it's a pleasure for me to welcome our new CFO, Henrik Skak Bender, who joined us the 1st of January to lead our Finance, Legal and IT function as our Chief Financial Officer.
For the agenda today, Henrik and I will first go through our financial results. I'll present the business update and hand over to Henrik for the financials and then we will finish the call with a Q&A session.
So starting with the highlights of the business, we are off to a strong start for our first quarter this year with a 14% organic revenue growth hereof at 25% growth in our key business area, our Endoscopy Solutions area, compared to 3% in Endoscopy last year. This strong revenue growth is partly the reason why we also can report a strong EBIT margin before special items of 10% for the quarter compared to 6% last year. And then looking at our free cash flow, we report DKK135 million for the quarter, which is an improvement over last year's quarter of DKK309 million. So overall, we are very satisfied with the strong start to our fiscal year.
Let's look into the progress that we've made on the different ZOOM IN areas in our strategy. So as usual, we report on these four different areas, and this quarter I'm happy to announce that we have had progress across all four areas. If we start looking at our solutions, the key events that we've had in the quarter has been in our urology business where we both had our ureteroscope aScope 5 approved in Europe end of November. It's still pending in the US. I'll come back to some details on this. And then we had also our aScope 5 Cysto, so our advanced cystoscope receiving European regulatory clearance....
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Ambu A/S (AMBFF) Q1 2024 Earnings Call Transcript