Danish medical device maker Ambu A/S on Tuesday raised its long-term growth targets as part of a new strategic plan, building on what it called a successful financial turnaround.
The company is now targeting a five-year organic revenue compound annual growth rate of 11% to 13% through its 2029/30 fiscal year, up from a previous goal of over 10% for the period ending in 2027/28, it said in a statement.
Ambu also set a target for an operating profit margin, before special items, of over 20% by fiscal 2029/30.
The new 'ZOOM AHEAD' plan follows the 'ZOOM IN' strategy from November 2022, which the company said reestablished a robust financial foundation, delivered strong growth and eliminated all debt.
Ambu, a market leader in single-use endoscopes, said it expects that market to grow by more than 20% annually as hospitals continue to convert from reusable devices.
Its key Endoscopy Solutions division is expected to grow 15% to 20% annually, while its Anesthesia & Patient Monitoring business is projected to grow 3% to 5% under the new plan.
The company maintained its financial guidance for the current 2024/25 fiscal year.
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