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Ambu (547A) Q4 2026 Earnings Report

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DE:547A Q4 2026 EPS Results

Actual EPS
EUR 0.13
Consensus EPS
EUR 0.12
Beat/Miss
Beat by +EUR 0.01
One Year Ago EPS
EUR 0.06

DE:547A Q4 2026 Revenue Results

Actual Revenue
EUR 227.41M
Expected Revenue
EUR 223.44M
Beat/Miss
Beat by +EUR 3.97M
YoY Revenue Growth
+15.96%

Earnings Announcement Details

Quarter
Q4 2026
Date
11/05/2026
Time
Before Open
Conference Call
Thursday, November 5, 2026
DE:547A Upcoming Earnings

Ambu's next earnings date is estimated for January 28, 2027, based on past reporting schedules.

Q4 2026 Earnings Call Audio

DE:547A Q4 2026 Earnings Call
0:00 / 0:00

Q4 2026 Earnings Slide Deck

Q4 2026 Earnings Call Summary

Q4 2026
Earnings Call Date:Nov 05, 2026|% Change Since:0.35%|
Earnings Call Sentiment|Positive

The call was strongly optimistic, supported by 10.1% full-year organic growth, 13.9% Q4 growth, accelerating Endoscopy Solutions performance, a broad innovation pipeline, strong market share, and maintained long-term targets. The main challenges were limited A&PM and anesthesia growth, flat gross margin, tariff and TIMS-related costs, competitive pricing pressure in Urology, gradual product-launch ramps, and temporarily lower cash conversion. Overall, the highlights significantly outweighed the lowlights.

Company Guidance

For 2026/2027, Ambu guides for 9.5%-11.5% organic growth, around 15% growth in Endoscopy Solutions, respiratory moderating around 14.6%, Urology, ENT, and GI at a slightly lower level, and A&PM at low single-digit growth, with A&PM expected to be back closer to the longer-term ambition of 3%-5% in Q2, Q3, and Q4; revenue growth is expected to be strongest in the mid of the year, Q2, Q3, with Q1 and Q4 facing higher comparables. Reported EBIT margin is guided at 13%-15%, with tariff costs having around a -1 percentage point effect, no tariff refunds included, and up to around DKK 70 million potential further refunds, with targeting to try to at least collect half of that; cash conversion is guided at around 30%. For 2029/2030, Ambu maintains targets of 11%-13% overall CAGR growth, 15%-20% Endoscopy Solutions growth, 3%-5% Anesthesia & Patient Monitoring growth, 20% EBIT margin or more, EBIT growing faster than revenue for every year across the ZOOM AHEAD period, and around or above 40% cash conversion.

  • Strong Q4 and Full-Year Organic Revenue GrowthQ4 organic revenue growth was 13.9%, including 16% growth including FX. Full-year organic revenue growth was 10.1%, within guidance, with the stronger second half driven by re-acceleration in Endoscopy Solutions.
  • Endoscopy Solutions Delivered Strong GrowthEndoscopy Solutions grew 21.2% organically in Q4 and 16.4% for the full year. Endoscopy Solutions now represents almost two-thirds of Ambu's total business, supported by continued conversion from reusable to single-use endoscopes.
  • Respiratory Growth Re-acceleratedRespiratory grew 21% in Q4 and 14.6% for the full year, with growth broadly driven by the aScope 4 and aScope 5 bronchoscope portfolio and additional contributions from SureSight. Respiratory growth in the second half was 19%.
  • Urology, ENT, and GI Maintained Strong MomentumUrology, ENT, and GI grew 21.3% organically in Q4 and 18.2% for the full year. Growth was broad-based across the three categories, with the aScope 4 cystoscope and rhinolaryngoscope families driving most of the growth and GI also showing good Q4 growth from a lower base.
  • Patient Monitoring Supported A&PM GrowthAnesthesia & Patient Monitoring grew 2.8% in Q4 and 0.4% for the full year. Patient monitoring was the main contributor, growing 6.5%.
  • Positive FY2026/2027 Revenue GuidanceAmbu guided to 9.5%-11.5% organic revenue growth for FY2026/2027, including around 15% growth in Endoscopy Solutions. Respiratory is expected to remain in double-digit growth territory, while A&PM is expected to deliver low single-digit growth and normalize closer to the longer-term ambition of 3%-5% later in the year.
  • Strong Innovation PipelineAmbu expects to launch more than seven new solutions, including four new generations of endoscopes across respiratory, Urology, ENT, and GI, over the next two financial years. The company stated that these are new generations rather than simple upgrades and are intended to improve procedure quality, support clinicians and patients, and expand the procedures and patient populations addressed.
  • Expansion of EndoIntelligence and AI-Enabled SolutionsThe company is expanding beyond endoscopes into accessories, software, hospital workflow, documentation, EMR integration, and AI-enabled features intended to improve procedure quality and efficiency. Ambu said customer appetite for EMR integration is increasing and that integration is a sticky feature supporting competitiveness.
  • SureSight Gained TractionSureSight, including its mobile version and blade portfolio, showed strong initial traction, particularly in the U.S. and U.K. The company said SureSight is helping accelerate single-use endoscope conversion and is creating synergies with the bronchoscope portfolio.
  • TIMS Medical Acquisition Strengthened the PortfolioAmbu closed the U.S.-based TIMS Medical acquisition on September 11 and added 56 employees. TIMS brings medical imaging, reporting, workflow solutions, hospital IT integration, and approximately 7,000 installations, immediately strengthening Ambu's ENT offering and expanding its EndoIntelligence capabilities.
  • Strategic Progress Under ZOOM AHEADManagement reported good progress across all four ZOOM AHEAD themes: customer centricity, innovation, the business platform, and people and culture. The company highlighted SureSight, the TIMS acquisition, and the ureteroscopy access sheath expansion as examples of progress.
  • Attractive Single-Use Endoscopy Market PositionAmbu stated that single-use endoscopes represent about 4% of total endoscopy procedures, while the market is growing at more than 20% annually. Ambu reported more than 60% global market share in single-use endoscopy and a specialized footprint across key markets.
  • Substantial Respiratory RunwayRespiratory is a DKK 10 billion market, but only 25% of procedures are currently performed with single-use endoscopes. Ambu stated that this makes respiratory the most progressed category while still leaving significant runway for further conversion.
  • Improved Operating LeverageFull-year OpEx was 47%, an improvement of 0.2 percentage points versus the prior year. Management said adjusted results still showed strong operating leverage, with administration and distribution costs expected to scale further.
  • Q4 EBIT Margin and Cash Flow ImprovementQ4 EBIT margin was 17.2%, with the majority of the year-over-year improvement coming from the OpEx ratio. Q4 free cash flow was DKK 216 million, and full-year free cash flow was DKK 487 million.
  • Strong Balance Sheet and Capital ReturnsFree cash flow after the DKK 189 million TIMS acquisition impact remained almost DKK 300 million. Ambu maintained a strong balance sheet, proposed a DKK 151 million dividend, or DKK 0.56 per share, and announced a DKK 400 million share buyback program planned to start at the beginning of the next year.
  • Long-Term Targets MaintainedAmbu maintained its 2029/2030 targets of 11%-13% CAGR growth, 15%-20% Endoscopy Solutions growth, 3%-5% A&PM growth, and a 20% or higher EBIT margin. The company also maintained its target of around or above 40% cash conversion across the period.
  • Manufacturing and Distribution OptimizationThe company accelerated the transfer of production from Malaysia to Mexico to improve agility for U.S. customers and manage tariff costs. Mexico utilization was above 50%, with further transfers planned, and management stated that the move should provide greater operating leverage through distribution costs.
  • Broad-Based Regional GrowthNorth America and rest of world delivered very strong Q4 growth, driven particularly by Endoscopy Solutions in respiratory, Urology, ENT, and GI. EMEA also delivered solid growth, especially in Urology, ENT, and GI.
  • No Abnormal Q4 Orders or Stock BuildingManagement stated that Q4 results were not affected by abnormal large orders, quarter shifting, or stock building, and described the performance as reflecting generally strong demand and a strong year-end execution.

DE:547A Earnings History

DE:547A earnings history
Report DateFiscal QuarterForecast / EPSLast Year's EPSEPS YoY ChangePress Release
Jan 28, 20272027 (Q1)0.12-0.06――
Nov 05, 20262026 (Q4)0.120.130.06118.60% (+0.07)
Aug 25, 20262026 (Q3)0.080.080.0628.26% (+0.02)
May 06, 20262026 (Q2)0.070.060.09-35.21% (-0.03)
Feb 04, 20262026 (Q1)0.060.060.09-35.00% (-0.03)
Nov 05, 20252025 (Q4)0.070.06-0.07184.31% (+0.13)
Aug 22, 20252025 (Q3)0.070.060.07-8.00% (-0.01)
May 07, 20252025 (Q2)0.100.090.0731.48% (+0.02)
Jan 30, 20252025 (Q1)0.090.090.0594.29% (+0.04)
Nov 04, 20242024 (Q4)0.07-0.070.04-266.12% (-0.11)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat Missed