• aView™ 2 Advance: To be used for all aScopes within pulmonary, urology and ENT (expected launch Q3 2019/20)
  • aBox™: To be used for all our new aScopes within the GI space (expected launch Q2 2020/21)

Pulmonary endoscopy
With the aScope™ 4 Broncho, Ambu has been able to successfully penetrate the ICU and OR suites reaching approx. 25% global share of the 3m pulmonary endoscopy market. Going forward, we have an opportunity to penetrate the bronch suite market which represents an incremental 2m procedures. The bronch suite has higher requirements with respect to image quality and functionality. We will therefore introduce aScope™ 5 Broncho which will be our first aScope with HD camera chip and an improved working channel. aScope™ 5 Broncho is expected to be commercially available in Q4 2020/21.

ENT
The ENT endoscopy market represents a significant opportunity with its 11m procedures. Ambu has recently launched two ENT scopes (aScope™ 4 RhinoLaryngo Intervention and Slim). We received FDA approval for the Slim version in May, 2019, and we are currently launching the product globally. The slim version targets 95% of the ENT market so this is a very important milestone for Ambu. We have launched the Intervention version in EU and Australia in our Q1 2018/19, and we expect to receive FDA approval by end of Q4 2018/19.

We have received positive feedback on the ENT scopes and expect to penetrate the ENT market at a faster pace compared to how aScope has historically performed within pulmonary endoscopy.

Urology
Urology represents another important market for Ambu with total procedures of 8m. We have shared before that we are developing a cystoscope to target bladder and urethra procedures which accounts for 6m out of the total 8m urology procedures. The cystoscope is expected to be launched in the US in Q2 2019/20, which is up to two quarters earlier than expected so far.

To complete our urology portfolio, we will be introducing a ureteroscope to target kidney procedures which account for 2m procedures where we expect to command higher selling price. We expect to be able to launch in the US in 2021/22. The combination of a single-use cystoscope and ureteroscope is ideal as physicians in many cases use both on the same patient.

Colonoscopy
With the acquisition of Invendo Medical in October 2017, Ambu acquired a technological platform for single-use GI scopes to be further developed. In addition, we got the fully developed single-use colonoscope SC210.

Since February, we have been testing the SC210 in a hospital setting in the US with the purpose of obtaining evidence that the SC210 will be able to perform to the standards of the reusable colonoscopes. When we started the test in the US, we expected to see a rapid uptake in the learning curve when using and navigating the SC210. Unfortunately, the results of tests were not satisfactory, and we have decided to discontinue the SC210.

In terms of the GI R&D program, the priority has been the development of the aScope™ Gastro and aScope™ Duo products. A second priority has been a single-use colonoscope based on the classic wheel technology (referred to as “aScope™ Colon”). With the decision to discontinue SC210, we will be able to focus more resources on the development of aScope™ Colon.

The main benefits of developing the aScope™ Colon as part of our aScope GI family are:

The following are the expected launch dates for our aScope GI family:


FINANCIAL OUTLOOK

Current fiscal year (2018/19)

The reason for the adjustment of the growth is due to the discontinuation of the SC210. The adjustment of the EBIT margin is driven by the lower growth and the investments in commercial infrastructure. The adjustment to free cash flows is caused by the lower EBIT and a slightly increasing working capital. Special items related to replacement of Ambu’s CEO are unchanged and expected to be DKK 38m.

Big Five 2020 strategy (2019/20)

The reason for the reduction of the expected sale of endoscopes as well as the growth target by on average 3%-pts is primarily the discontinuing of the SC210. The adjustment to the EBIT-margin is on average 7%-pts. which is primarily explained by the additional investments into commercial infrastructure. The adjustment of the free cash flow-% is driven by the adjusted growth and EBIT-margin and impact from one-of tax payments.

A conference call is being held Tuesday 18 June 2019, at 8.30 (CEST). The conference is held in English and can be followed online at www.ambu.com/webcast18June2019. The presentation can be downloaded immediately before the conference call via the same link. In order to be able to ask questions during the conference call, please call 5 minutes before the start on tel. +45 3544 5577 and enter the following access code: 89439887#.

Types of gambling machines. Furthermore, an investor meeting for analysts and institutional investors will be conducted in London on Wednesday 19 June, at 10.00 (BST). Enrolment can be done on www.ambu.com/London2019. The investor meeting will be broadcast live on video via the same link and will also be available for viewing after the event.

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By Dr. Edwin van Thiel, updated February 11, 2020

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History of Big Five personality theory

Several independent sets of researchers discovered and defined the five broad traits based on empirical, Technical Report ASD-TR-61-97, Lackland Air Force Base, TX: Personnel Laboratory, Air Force Systems Command, 1961.
2Digman, J.M., 'Personality structure: Emergence of the five-factormodel,' Annual Review of Psychology, 41, 417-440, 1990.
3Goldberg, L.R., 'The structure of phenotypic personality traits,' American Psychologist, 48, 26-34, 1993.
4Costa, P.T., Jr., McCrae, R.R.; Revised NEO Personality Inventory (NEO-PI-R) and NEO Five-Factor Inventory (NEO-FFI) manual. Odessa, FL: Psychological Assessment Resources, 1992.
5Russell, M.T., Karol, D.; 16PF Fifth Edition administrator's manual.' Champaign, IL: Institute for Personality & Ability Testing, 1994.