Investor Relations

Ambu announces its next-era strategy, ZOOM AHEAD, including a long-term aspiration of achieving global endoscopy leadership. With this strategy, Ambu extends its long-term financial targets through FY 2029/30 and increases its 5-year organic revenue CAGR to 11-13%, up from the previous +10% target set for FY 2027/28. The EBIT margin target for FY 2029/30 is set at +20%, while the EBIT margin target for FY 2027/28 is maintained.

Ambu has successfully executed on its ZOOM IN strategy launched in November 2022. In less than three years, the company has reestablished a robust financial foundation, delivering strong double-digit revenue growth, increasing the EBIT margin fourfold, generating a strong free cash flow, and eliminating all debt.

Building on this momentum, Ambu is today announcing its next-era strategy, ZOOM AHEAD. It includes a long-term aspiration to achieve global endoscopy leadership and marks a defining moment in Ambu’s growth journey to raise the bar for endoscopy.

The endoscopy market continues to be an attractive growth opportunity for Ambu, and the company is leading the structural shift to single-use solutions. Today, Ambu is the market leader in single-use endoscopy across its four business areas: Respiratory (previously named Pulmonology), Urology, Ear-Nose-Throat, and Gastroenterology, building on its EndoIntelligence^TM platform (previously referred to as Digital Solutions and Systems).

The ZOOM AHEAD strategy is focused on differentiation, and Ambu will build on the success of ZOOM IN, supported by four strategic themes:

• Customer centricity - Improve customer outcomes and efficiency
• Innovation - Deliver integrated and high-impact solutions
• Business platform - Build a scalable and profitable growth platform
• People & culture - Fuel a culture of empowerment and growth

Increased and extended long-term financial targets towards 2029/30
Today, single-use endoscopy represents 3-4% of the global endoscopy market. It is expected to grow +20% annually, supported by an underlying endoscopy procedure growth and, in particular, a continued conversion from reusable endoscopes to single-use endoscopes.

With the launch of its ZOOM AHEAD strategy, Ambu introduces new long-term financial targets and reinforces its disciplined capital deployment, focusing investments on sustainable, profitable growth.

Ambu raises its Group-level 5-year organic revenue growth target to a CAGR of 11-13% for FY 2029/30, increasing its previous target of +10% set for FY 2027/28. Within this, Endoscopy Solutions is expected to grow at a CAGR of 15-20%, while Anesthesia & Patient Monitoring is projected at 3-5% (previously 2-4% for FY 2027/28).

Furthermore, Ambu targets an EBIT margin (before special items) of +20% by FY 2029/30, maintaining its previous target of ~20% by 2027/28, allowing for potential trade-offs with growth investments, as previously communicated. Given the market potential, Ambu aims to balance growth and profitability, in line with long-term targets, allowing short-term EBIT margin trade-offs to support sustainable growth investments.

Finally, Ambu expects a cash conversion (defined as free cash flow before acquisitions divided by EBITDA) of +40% for the period. The targeted cash conversion is based on a net working capital to 12-month rolling sales of around 20% and a CAPEX of 6-10% of sales. Strong cash conversion remains a key priority for Ambu to fund and drive accelerated growth.

Financial targets:

* Communicated on the Capital Markets Day, March 2023
** CAGR is calculated using trailing twelve months (TTM) revenue as the starting point
*** Potential trade-offs with growth investments for the FY 2027/28 target, as previously communicated
**** Cash conversion = free cash flow before acquisitions / EBITDA

Maintaining FY 2024/25 outlook
Ambu also maintains its financial guidance for 2024/25 of organic revenue guidance of 12-14%. The EBIT margin before special items is likewise maintained at 13-15%, and investments continue as planned to support long-term growth.

Ambu will host a Capital Markets Day on 1 October 2025, where the company will outline its assessment of market potential and present the ZOOM AHEAD strategy.

This financial calendar lists the expected release dates of Ambu’s financial announcements for the financial year 2025/26, as well as the date of Ambu’s annual general meeting. 

2025

5 November 2025:         Annual report 2025/26
3 December 2025:         Annual general meeting 2025

2026
4 February 2026:           Earnings release Q1 2025/26
6 May 2026:                  Earnings release Q2 2025/26
26 August 2026:            Earnings release Q3 2025/26
30 September 2026:      End of fiscal year 2025/26
5 November 2026:         Annual report 2025/26
2 December 2026:         Annual general meeting 2026

Deadline for the inclusion of specific items on the agenda for the annual general meeting 2025 is 21 October 2025.

Download the full company announcement here

Steven Block steps down; Scott Heinzelman appointed as new President to drive Ambu’s strong growth trajectory in North America. 

Effective 25 August 2025, Ambu announces the appointment of Scott Heinzelman as President of the North America commercial region. He succeeds Steven Block, who has decided to step down after 12 years of dedicated leadership to begin a new chapter in semi-retirement. 

Scott Heinzelman is a seasoned commercial executive with extensive experience in driving strong growth and organizational transformation. He is a US native with more than two decades of experience from the medtech industry, having held senior leadership roles at global healthcare companies, such as Abbott, Orthofix, and Covidien (now Medtronic). Most recently, he served as Divisional Vice President of Abbott Vascular’s US Commercial business, where he led a $1 billion organization, built a specialized sales force, launched breakthrough therapies, and delivered growth that outpaced the market. Prior to that, he held roles as Divisional Vice President of Sales & Marketing and Global Head of Commercial Excellence, with responsibility for commercial strategy, P&L performance, and commercial infrastructure. 

Throughout his career, Scott has demonstrated a strong ability to shape commercial strategy, drive sustainable and profitable growth, and lead high-performing sales organizations with a sharp focus on execution across complex business environments. His leadership is characterized by strategic clarity, customer focus, and a collaborative mindset – qualities that have consistently delivered results and earned the trust of customers, colleagues, and partners alike. 

“I am very excited to welcome Scott Heinzelman as our new President for Ambu North America. Scott brings a wealth of commercial experience and a proven ability to define and deliver a customer-focused high-growth agenda from leading medtech companies. His strong leadership skills, combined with his strategic and analytical capabilities, makes him a natural choice to lead our continued expansion and to strengthen our leadership position in the North American market.  

Also, I would like to thank Steven for leading our Ambu North America team over the past 12 years. He has played an instrumental role in driving a successful growth agenda and demonstrating strong leadership. I wish him all the best in his next life chapter.” 

BRITT MEELBY JENSEN 
Chief Executive Officer 

Leading the next phase of growth in North America 
Over the past decade, Ambu North America has achieved strong growth and is today a leading company in the US endoscopy market as well as a prominent player in the US medtech industry. The organization has an extensive presence in hospitals nationwide and contributes to improving care for millions of patients every year. Steven Block has played a central role in elevating Ambu’s North American business to this impactful position. 

With a strong foundation established and Scott Heinzelman appointed as President, Ambu is well-positioned to accelerate its growth ambitions in the North American market. He will join Ambu’s Executive Leadership Team as he takes on the responsibility for leading the next phase of growth and leadership in North America. 

“I'm honored to join this incredible organization at such an important time. Ambu has a history of customer-centric innovation and a strong culture; this is a winning formula for delivering strong results. It is a privilege to lead the North America organization into this next stage of high growth and profitability. Our focus is clear: deliver solutions that make a real difference in healthcare and patients’ lives. We’re not just aiming to grow – we’re aiming to lead.”  

SCOTT HEINZELMAN 
New President, Ambu North America 

Read and download the full press release here