Transcript

Operator

Ladies and gentlemen, welcome to the Ambu earnings release Q3 2025/2026 conference call. I'm Vicky, the Chorus Call operator. I would like to remind you that all participants will be in listen-only mode and the conference is being recorded. The presentation will be followed by a Q&A session. You can register for questions at any time by pressing star and one on your telephone. For operator assistance, please press star, then zero. The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Britt Meelby Jensen, CEO. Please go ahead.

Britt Meelby Jensen — CEO

Thank you, and good morning, everyone, and welcome to this earnings call for our Q3 2025/2026 results. My name is Britt Meelby Jensen. I'm the CEO of Ambu, and I have Henrik Skak Bender, our CFO, with me today. If we move to the next slide. Then the next one again. I'll start with a review of our business and progress before I hand over to Henrik to go through our financials. Starting on the next slide, please, with the highlights for Q3. Overall, we see a very strong shift towards single-use endoscopy. We continue to lead this conversion to single-use by bringing new innovative solutions to the market that can address a wide range of procedures, also supported by key opinion leaders across the different areas that we are in. In the quarter, this was most evident in the re-acceleration we have seen in respiratory, which, as you know, is the first area we entered. Here we grew 17.1%, which was driven by our bronchoscopy portfolio, but supported by the strong synergistic effect from our new video laryngoscope solution, SureSight. In urology, ENT, and GI, we grew 15% in the quarter, resulting in a 16% growth overall of the Endoscopy Solutions. In A&PM, after two quarters of negative growth, we returned to positive growth with 1.6%, and we also announced recently a new solution, Ambu Neuroline Cup MRI/CT, that is positioned to support further growth recovery. Our EBIT margin came in at 13.5%, both reflecting increased investments and partly offset both by tariff reclaims and scalability. We expect the reported EBIT margin to land in the upper end of our 12%-14% guidance. In line with the communication that we had in Q2 that we were trending towards 10% organic growth for the full fiscal year. We are confirming this as we are updating our revenue guidance to around the