Medical device maker Ambu jumps after Q1 sales, adj. EBIT beat

Ambu A/S

07/02/2023 08:18

** Shares in Ambu  AMBUb.CO  jump 14%, on track for their
biggest daily rise in nearly two years, after the Danish medical
device maker posted Q1 sales and adj. EBIT ahead of expectations
    ** Adj. EBIT came in at DKK 68 mln ($9.80 mln),
corresponding to an adj. EBIT margin of 6% -- both well ahead of
company-compiled consensus of DKK 15 mln and 1.3%, respectively
    ** Revenue reached DKK 1,132 mln, above consensus of DKK
1,113 mln 
    ** Nordnet analyst Per Hansen notes that Ambu's cost-cutting
measures "are starting to work," referring to the adj. EBIT beat
    ** If gains hold the stock will see its best day since Jan.
27, 2021
    ** Ambu is among the best performers on the pan-European
STOXX 600 index  .STOXX 
($1 = 6.9366 Danish crowns)
 (Reporting by Louise Breusch Rasmussen)
 ((Louisebreusch.rasmussen@tr.com))