Interim Report for Q1 2010/11 - 1 October 2010-31 December 2010

Ambu realised a marked improvement in earnings in Q1 2010/11 relative to the same period last year and continues to exceed market growth rates. Growth in revenue was 9%, and 6% when measured in local currencies. In the USA, where market growth is 1-3%, Ambu realised 20% growth in revenue in Q1, or 10% when measured in the local currency. The gross margin is significantly improved at 56.4% in Q1 against 53.1% for the same period last year.The operating profit (EBIT) before special items amounted to DKK 29.4m in Q1 against DKK 19.2m for the same period last year, up 53%. The EBIT margin for Q1 was 12.5% against 8.8% for the same period last year. The outlook for 2010/11 is maintained: Revenue in the region of DKK 1bn, an EBIT margin before special items of just over 13.5% and a profit before tax of approx. DKK 130m.