Ambu falls to the bottom of STOXX on 'cautious' outlook

Ambu A/S

15/11/2022 08:44

** Shares in Ambu  AMBUb.CO  slump around 15% after the
Danish medical device maker issued a "cautious" guidance for
2022/23 and unveiled a new strategy
    ** Ambu expects for 2022/23 organic revenue growth between
5-8%, with highest growth coming from endoscopy solutions, and
EBIT margin ex special items between 3-5%
    ** Nordnet analyst Per Hansen says Ambu is trying to find a
stable ground after "too many consecutive guidance cuts,"
issuing a "cautious" guidance for 2022/23
    ** J.P.Morgan says the 2022/23 guidance is likely to result
in consensus adjusted EBIT cuts of more than 40%
        ** "The focus will be on FY22/23 outlook where there are
substantial cuts again, and also the updated strategy which is
relatively high level, but looks sensible in our view," JPM says
  
    ** If losses hold, the shares are on track for their worst
day since December 2021 when they closed 22.7% lower
    ** Ambu is the biggest looser on the pan-European STOXX 600
index  .STOXX 
($1 = 7.1478 Danish crowns)
 (Reporting by Louise Breusch Rasmussen)
 ((Louisebreusch.rasmussen@thomsonreuters.com))