Ambu shares slump after yet another guidance cut

Ambu A/S

06/05/2022 08:47

** Ambu  AMBUb.CO  shares fall nearly 14% after the Danish
medical equipment company has announced another guidance cut in
its Q2 report citing macroeconomic headwinds, supply chain
volatility, ongoing hospital labour shortages  urn:newsml:reuters.com:*:nASM000AJM
    ** The company downgraded its organic growth for the 2021/22
financial year to +13% from +15%, and EBIT growth to +5% from
+7% previously 
    ** Nordnet's analyst Per Hansen says the downgrade was not
entirely unexpected and wonders how many more downgrades we can
still expect
    ** The analyst adds that the many negative explanations and
adjustments have eroded the company's credibility in delivering
on its forecasts
    ** He says the company delivered Q2 results close to the
analyst's downgraded expectations, with EBIT at DKK 47 million 
($6.63 million)compared to the consensus of DKK 49 million
    ** However, he asks the question of whether the analysts and
investors will believe company's  >20% growth in H2 forecast 
    ** The shares fall to the lowest level in nearly 5 years


($1 = 7.0852 Danish crowns)

 (Reporting by Agata Rybska)
 ((agata.rybska@thomsonreuters.com))