Embla Medical: Embla in good shape going into 2025 - ABG

A good Q4 coming up with 9% revenue and 15% EPS growth
2025 guidance likely to show accelerating growth momentum
USD/DKK drives EPS down and FVR up to DKK 31-46


Embla Q4 5 Feb @ 07:00CET, CC @ 09:00 CET same day

We look for Embla to report Q4'24 revenues of USD 228.2m (0% vs company-collected consensus at USD 227.1m) on the back of 4.6% organic growth (cons: 5.4%) and 9% reported growth. We model the gross margin to expand 130bp sequentially and 270bp year-on-year, and with 8% growth in Opex we are looking for a 20.9% adj. EBITDA margin, +310bp year-on-year. Our Q4 forecast sees Embla Group come in at 6.1% full-year organic growth (guidance 6-8%) and 20.2% adjusted EBITD margin (guidance ~20%).

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/embla_medical/Equity-research/2025/1/embla-medical---embla-in-good-shape-going-into-2025/