Vistin Pharma Asa · OSL:VISTN
Vistin Pharma Asa — Q2 2025 Earnings Presentation
29 slides from Vistin Pharma Asa's earnings presentation, Aug 15, 2025
Slide 1: Presentation 2025
Presentation 2025 Magnus Tolleshaug (CEO) / Alexander Karlsen (CFO) / 15 August 2025
Slide 2: Agenda
Agenda • Highlights • Market overview • Financial review • Summary • Appendix
Slide 3: Another strong quarter with revenue of MNOK 118 and EBITDA of MNOK 30
Highlights Another strong quarter with revenue of MNOK 118 and EBITDA of MNOK 30 MNOK 118 in revenue vs. MNOK 106 in Q2 2024, Other an increase of 11% • ~1 500MT produced in the second quarter. The first • Increased revenue driven by sales volumes +17% part of April influenced by gradual start-up af
Slide 4: Focus on reducing local and global emissions
Vistin has high focus on reducing local and global emissions, and programs are in place to consume responsibly and recycle where possible
Slide 5: Slide 5
Slide 6: Agenda
Agenda • Highlights • Market overview • Financial review • Summary • Appendix
Slide 7: A pure play metformin company – supporting patients worldwide in a growing market
A pure play metformin company – supporting patients worldwide in a growing market Vistin Pharma Diabetes Metformin growth opportunity One of the largest + The gold standard = A leading global health emergencies treatment of type in the 21st century 2 diabetes producer of premium metformin • Market d
Slide 8: Diabetes – A global emergency
Diabetes – A global emergency
Slide 9: 590 million adults living with diabetes, expected to increase by 45% by 2050
590 million adults in the world today is living with diabetes, this is expected to increase by 45% within 2050 Number of people living with diabetes / Source International Diabetes Federation, IDF Diabetes Atlas, eleventh edition, 2025
Slide 10: Number of people living with diabetes
Number of people living with diabetes / Source International Diabetes Federation, IDF Diabetes Atlas, eleventh edition, 2025
Slide 11: Vistin produces about 10% of the world's metformin demand
Vistin Pharma produces about 10% of the world’s demand of metformin and has a world-wide sales coverage
Slide 12: Vistin Pharma - world wide sales footprint
Vistin Pharma - world wide sales footprint
Slide 13: Slide 13
Slide 14: Agenda
Agenda • Highlights • Market review • Financial review • Summary • Appendix
Slide 15: Long and successful growth track record
Financial review Long and successful growth track record Revenues Vistin Metformin (MNOK) 500 450 438 430 400 350 305 300 279 254 250 228 201 200 176 177 171 142 150 150 101 111 100 88 50 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2022 includes a one-time positive l
Slide 16: Q2 2025 sales volume increased by 17% compared to same quarter last year
Financial review Q2 2025 sales volume increased by 17% compared to same quarter last year. YTD sales volume + 15% Quarterly sales volume metformin (HCl & DC) Annual sales volume metformin (HCl & DC) 1600 6000 1440 1460 1400 1400 5200 1400 5000 1260 1230 1250 1300 5000 1200 1200 4000 1000 3500 3000 2
Slide 17: Increased production volume has resulted in more volumes available for sale and increased revenue
Financial review Increased production volume has resulted in more volumes available for sale and increased revenue compared to same quarter last year 120 118 120 114 115 111 107 104 106 106 • Revenue of MNOK 118 in Q2’25 vs 106 in Q2’24 100 (+11%) • Sales prices reflecting current raw material and 8
Slide 18: Solid gross margin of 63% in quarter in accordance with long term ambition
Financial review Solid gross margin of 63% in quarter in accordance with long term ambition 80% 70% 68% • Strong gross margin due to stable production 63% 64% 63% 63% 63% and favorable economies of scale in raw 58% 59% material purchasing 60% 56% • Less volatile raw material prices in 2025 50% compa
Slide 19: Strong EBITDA of MNOK 30 compared to MNOK 27 in Q2 2024
Financial review Strong EBITDA of MNOK 30 compared to MNOK 27 in Q2 2024 (+11%) 35 30 30 30 29 • EBITDA positively affected by increased sales 27 27 28 volume and continued cost focus 25 25 • EBITDA margin of 26% in quarter represents 20 good commercial execution 20 20 • FX effect on EBITDA versus s
Slide 20: Key figures: income statement
Financial review Key figures: income statement (NOK 1 000) Q2 2025 Q2 2024 YTD 2025 YTD 2024 FY 2024 Total revenue and other income 117 670 106 081 232 706 209 964 429 503 Total operating expenses 87 395 78 744 172 217 162 187 325 178 EBITDA 30 275 27 337 60 489 47 778 104 325 Depreciation & amortis
Slide 21: Balance sheet: assets
Financial review Balance sheet Assets 30.06.2025 30.06.2024 31.12.2024 • Deferred tax asset in relation to realized Non-current assets loss for Energy Trading in Q1 2020, fully Fixed assets 227 772 229 973 229 603 utilized Financial Assets 12 154 11 433 12 154 Deferred tax assets - 7 074 - • Invento
Slide 22: Balance sheet: equity and liabilities
Financial review Balance sheet Equity and liabilities 30.06.2025 30.06.2024 31.12.2024 Equity • Strong balance sheet with an equity ratio of Share capital 44 345 44 345 44 345 70% Share premium 73 867 151 470 129 298 Retained earnings 176 057 98 360 135 886 • Dividend payment of MNOK ~55 in June Tot
Slide 23: Slide 23
Slide 24: Agenda
Agenda • Highlights • Market review • Financial review • Summary • Appendix
Slide 25: Summary
Summary • Another strong quarter with EBITDA of 30 MNOK • Attractive growth potential as the remaining in Q2’2025 manufacturing capacity becomes fully available and optimized • Sales volume increase of 17% compared to same quarter last year, and 15% increase YTD • The long-term renewable energy supp
Slide 26: Agenda
Agenda • Highlights • Market review • Financial review • Summary • Appendix
Slide 27: Double capacity double care metformin strategy
Double capacity double care metformin strategy Strategically positioned Attractive growth A premium producer in Metformin market producer of two different potential with new a competitive market expected to continue metformin products: production line to grow by 4-6% annually Metformin HCl and DC in
Slide 28: Top 20 shareholders as of end June 2025
Appendix NAME SHAREHOLDING % SHARE INTERTRADE SHIPPING AS* 14 509 280 32,72 % Top 20 share- HOLMEN SPESIALFOND PACTUM VEKST AS* 4 371 558 2 991 773 9,86 % 6,75 % holders as of MP PENSJON PK 1 719 848 3,88 % STORKLEIVEN AS 751 000 1,69 % AUGUST RINGVOLD AGENTUR AS 750 315 1,69 % end June 2025 LUCELLU
Slide 29: Thank you for your attention
Thank you for your attention www.vistin.com Magnus Tolleshaug (CEO) Alexander Karlsen (CFO) 15 August 2025