Ambu’s endoscopy business was the main growth driver in the third quarter of 2022/2023, while the other two business legs had negative growth, according to the final quaterly report.

Most of the overall items included in the financial statements at group level were already known, as Ambu released preliminary financial figures on July 10 and upgraded its guidance for the operating margin before special items.

Analysts are therefore focusing more on the individual business areas.

Here, the growth area Endoscopy Solutions contributed with organic growth of 23% and revenue of DKK 684m (USD 99.95m) compared to DKK 562m (USD 82.12m) in the same period last year.

The anesthesia business, on the other hand, recorded a negative growth of 7% in the third quarter after a Q2 in which the inventory reduction had a negative impact, among other factors. In the third quarter, comparative figures have been difficult, Ambu informs.

The third and final business leg, patient monitoring, also delivered negative organic growth of 7% and revenue of DKK 240m (USD 35.1m) compared to DKK 264m (38.58m) the year prior. The negative growth was mainly due to difficult comparative figures and order shifts.

Ambu’s financial statements confirm the preliminary figures from July 10.

On the balance sheet, which was not included in the preliminary report, Ambu earned DKK 51m against analysts’ expectations of DKK 63m (USD 9.2m), according to estimates compiled by Ambu.

Ambu clarifies its expectations for the 2022/2023 financial year to an organic growth of 6-8% compared to 5-8% previously.

The increase is based on the development in the third quarter and the first two months of the fourth quarter, Ambu writes.

The Danish pharmaceutical company still expects the EBIT margin before special items to reach 5-6%, as announced in connection with the upward adjustment in July.

(Translated using DeepL with additional editing by Katrine Gøthler)