Medistim Asa · OSL:MEDI
Medistim Asa — Q2 2019 Earnings Presentation
24 slides from Medistim Asa's earnings presentation, Aug 20, 2019
Slide 1: Medistim ASA Second quarter 2019
Medistim ASA Second quarter 2019 Kari E. Krogstad, President and CEO Thomas Jakobsen, CFO August 20th, 2019
Slide 2: Disclaimer
2 20.08.2019 Medistim ASA Q2 2019 Disclaimer The information included in this Presentation contains certain forward-looking statements that address activities, events or developments that Medistim ASA (“the Company”) expects, projects, believes or anticipates will or may occur in the future. These s
Slide 3: Table of contents
3 20.08.2019 Medistim ASA Q2 2019 Table of contents 1. Highlights second quarter 2. Financial statements 3. Business segments update 4. Implementing the strategy
Slide 4: 1. Highlights 1st quarter
MED (STIM 1. Highlights 1st quarter
Slide 5: Highlights 2nd quarter 2019
5 20.08.2019 Medistim ASA Q2 2019 Highlights 2nd quarter 2019 Q2 2019 QoQ • Sales for the second quarter 2019 ended with a 23.1 % Revenue 23.1% growth over Q2 2019, a strong follow-up after the all time MNOK 93.8 (76.2) high quarter for Q4 2018 and 19.7 % growth in Q1 2019 o Currency neutral sales o
Slide 6: Medistim ASA Q2 2019
6 20.08.2019 Medistim ASA Q2 2019
Slide 7: 2. Financial statements
2. Financial statements
Slide 8: Profit and loss Q2 2019
8 20.08.2019 Medistim ASA Q2 2019 Profit and loss Q2 2019 Sales per Quarter (TNOK) Profit & loss Q2 2019 Q2 2018 All numb ers in NOK 1000 110 000 Sales 93 796 76 221 100 000 Cost of goods sold 21 145 18 606 90 000 Salary and sosial expenses 23 648 20 832 80 000 70 000 Other operating expenses 13 793
Slide 9: Profit and loss YTD June 2019
9 20.08.2019 Medistim ASA Q2 2019 Profit and loss YTD June 2019 Sales per Quarter (TNOK) Profit & loss YTD June 2019 YTD June 2018 All numb ers in NOK 1000 110 000 Sales 182 533 150 354 100 000 Cost of goods sold 41 839 36 861 90 000 Salary and sosial expenses 54 676 47 616 80 000 Other operating ex
Slide 10: Balance sheet - Assets
10 20.08.2019 Medistim ASA Q2 2019 Balance sheet - Assets Balance sheet 30.06.2019 31.12.2018 All numb ers in NOK 1000 350 000 Assets 300 000 250 000 Intangible assets 41 631 41 944 200 000 Fixed assets 44 764 37 198 150 000 Total intangible and fixed assets 86 395 79 142 100 000 Inventory 64 344 63
Slide 11: Balance sheet - Equity and liability
11 20.08.2019 Medistim ASA Q2 2019 Balance sheet - Equity and liability 350 000 Balance sheet 30.06.2019 31.12.2018 All numb ers in NOK 1000 300 000 250 000 Share capital 4 585 4 585 Premium fund 44 172 44 172 200 000 Other equity 153 681 157 955 Total equity 202 438 206 712 150 000 Total long term
Slide 12: Medistim ASA Q2 2019
12 20.08.2019 Medistim ASA Q2 2019
Slide 13: 3. Business segments update
3. Business segments update
Slide 14: Flow probes and systems in units
14 20.08.2019 Medistim ASA Q2 2019 Flow probes and systems in units Flow probes in units (excl USA) Flow systems in units (VeriQ & MiraQ capital sales) 2 500 40 35 2 000 30 1 500 25 Europe 1 000 20 USA 15 500 ROW 10 Asia - 5 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 - 17 17 17 18 18 18 18 19 19 Q1 Q2 Q3 Q4 Q1 Q2 Q
Slide 15: Imaging probes and systems in units
15 20.08.2019 Medistim ASA Q2 2019 Imaging probes and systems in units Imaging probes in units (incl USA) Imaging systems in units (VeriQC & MiraQ capital sales) 50 40 35 40 30 30 25 ROW 20 20 Europe 10 15 Asia - 10 US Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 5 17 17 17 18 18 18 18 19 19 0 Imaging probes US imagi
Slide 16: Q2 and H1 revenue performance by region
16 20.08.2019 Medistim ASA Q2 2019 Q2 and H1 revenue performance by region Mill NOK Q2 '19 Q2 '18 Q/Q H1'19 H1'18 H/H Europe 42,5 38,3 11,2 % 80,9 78,5 3,1 % USA 36,9 23,9 54,4 % 71,5 46,9 52,5 % Asia 9,9 9,4 6,1 % 16,9 17,8 -5,2 % ROW 4,4 4,7 -5,4 % 13,2 7,1 85,5 % (MEA, CAN, SA, AUS) Total 93,8 76
Slide 17: Q2 and H1 revenue performance by product
17 20.08.2019 Medistim ASA Q2 2019 Q2 and H1 revenue performance by product Mill NOK Q2 '19 Q2 '18 Q/Q H'1 19 H1' 18 H/H Procedures (USA) 27,0 21,6 25,2 % 53,3 41,2 29,5 % Flow probes 24,0 21,4 12,2 % 45,9 41,8 9,7 % Flow systems (VeriQ & MiraQ) 9,0 7,0 27,4 % 16,2 13,8 17,8 % Imaging systems (VeriQ
Slide 18: Medistim ASA Q2 2019
18 20.08.2019 Medistim ASA Q2 2019
Slide 19: 4. Implementing the strategy
4. Implementing the strategy
Slide 20: Growth opportunities – in developing Medistim markets
20 20.08.2019 Medistim ASA Q2 2019 Growth opportunities – in developing Medistim markets 1. Convert the routine Flow market to a Flow-and- Imaging market by establishing Surgical Guidance and Quality Assessment as the new standard of care through Emerging, high-growth o Early adopter & KOL support e
Slide 21: Performance US sales organization
21 20.08.2019 Medistim ASA Q2 2019 60000 55000 Performance US sales organization 50000 45000 40000 35000 30000 25000 20000 RESULTS Q2 2019 2010 2011 2012 2013 2014 2015 2016 2017 2018 Number of procedures per year • Revenues up 42.2 % in USD o Revenues up 54.4 % in NOK, to MNOK 36.9, 19 500 due to f
Slide 22: Final REQUEST results presented at the AATS
22 20.08.2019 Medistim ASA Q2 2019 Final REQUEST results presented at the AATS • The American Association of Thoracic Surgery (AATS) is one of the two major US medical associations covering cardiac surgery • The AATS is a key arena for the presentation and discussion of state of the art and innovati
Slide 23: 20 largest shareholders
23 20.08.2019 Medistim ASA Q2 2019 20 largest shareholders Rank Holding Shares in % Name 1 4 003 500 21,8 INTERTRADE SHIPPING AS 2 1 862 500 10,2 SALVESEN & THAMS INVEST AS 3 1 000 000 5,5 FOLLUM CAPITAL AS 4 910 246 5,0 SWEDBANK ROBUR SMABOLAGSFOND 5 864 583 4,7 Skandinaviska Enskilda Banken AB 6 8
Slide 24: Seeing is believing
24 20.08.2019 Medistim ASA Q2 2019 Seeing is believing