Ambu slumps to bottom of STOXX on Q4 organic growth, EBIT misses

Ambu A/S

05/11/2024 08:18

** Shares in Ambu  AMBUb.CO  fall 13% after the Danish
medical equipment maker reported organic sales growth and EBIT
below estimates seen in a company-compiled consensus
    ** Q4 organic growth was 10.6% vs consensus of 12.3%
    ** "Growth was weaker than consensus across all business
areas," Carnegie analyst Niels Granholm Leth says
    ** Q4 EBIT before special items of DKK 147 million ($21.5
million) missed consensus by 20%, Granholm Leth adds
    ** He also notes Q4 gross margin fell on FX and operating
expenditure increase due to new recruitments
    ** The Ambu shares hit the bottom of Europe's STOXX 600
index  .STOXX  
    
($1 = 6.8495 Danish crowns)

 (Reporting by Anna Chaberska)
 ((Anna.chaberska@thomsonreuters.com))