Vistin Pharma Asa · OSL:VISTN
Vistin Pharma Asa — Q1 2022 Earnings Presentation
26 slides from Vistin Pharma Asa's earnings presentation, Apr 27, 2022
Slide 1: Alexander Karlsen (CFO) / Magnus Tolleshaug (CCO) 27 April 2022
Alexander Karlsen (CFO) / Magnus Tolleshaug (CCO) 27 April 2022
Slide 2: Doubling capacity to meet increasing market demand
‘’Doubling capacity to meet increasing market demand – balancing growth with sustainable operations’’
Slide 3: Agenda
Agenda Highlights Operational review Financial review MEP & Summary Appendix
Slide 4: First quarter 2022 results highlights
Highlights First quarter 2022 results MNOK 33 in revenue vs. MNOK 71 in Q1 2021 Both existing production line #1 and new line #2 • Decrease in revenue for the quarter driven by less producing as of end March volume available for sale due to the planned • Existing line #1 successfully resumed product
Slide 5: Slide 5
Slide 6: We are pure play metformin company with a bright outlook
We are pure play metformin company with a bright outlook A bright outlook Diabetes Metformin for Vistin Pharma 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 demand for Metformin is
Slide 7: 1st-line treatment
Operational review 1st-line treatment Used to lower glucose (blood sugar) levels • Reduces the liver’s production of glucose • Delays and reduces absorption of glucose from the intestine • Increases insulin sensitivity, leading to increased uptake of glucose in the body Most cost-efficient treatment
Slide 8: Diabetes – A global emergency
Diabetes – A global emergency
Slide 9: Number of people living with diabetes
Number of people living with diabetes / Source: International Diabetes Federation, IDF Diabetes Atlas, seventh edition, 2019
Slide 10: Vistin Pharma is a metformin player with a world wide sales coverage
Vistin Pharma is a metformin player with a world wide sales coverage
Slide 11: World sales map
World sales map South Atlantic. ‘Ocean, ‘
Slide 12: Slide 12
Slide 13: Limited sales volume in Q1'22 due to planned production stop for MEP installation
Financial review Limited sales volume in Q1’22 due to planned production stop for MEP installation Quarterly sales volume metformin (HCl & DC) Annual sales volume metformin (HCl & DC) 1200 4000 3748 1031 3360 3500 1000 956 3137 3219 915 900 873 2961 861 3000 2784 802 800 770 2500 600 2000 460 1500 4
Slide 14: Revenue
Financial review Revenue 90 80 78 • Limited volumes available for sale in Q1’22 73 71 due to the planned MEP installation 70 67 64 61 63 • 2022 sales prices increased to reflect 60 55 current raw material and freight costs 50 • Ukraine situation has further increased volatility on raw material and f
Slide 15: EBITDA
Financial review EBITDA 25 • EBITDA significantly affected by limited sales 21 volume available and start-up & onboarding 20 16 16 costs for new line 14 14 15 12 • No expected change in manning for rest of year 10 10 = significant volume leverage 2H and onwards 5 5 • Semi-variable costs like supply,
Slide 16: Income statement
Financial review Income statement (NOK 1 000) Q1 2022 Q1 2021 FY 2021 Total revenue and income Total revenue and income 33 219 70 803 278 623 EBITDA EBITDA (18 194) 15 358 43 858 EBT EBT (19 424) 11 265 31 994 Depreciation & amortisation (2 749) (2 872) (10 609) Net finance income/(expense) 1 519 (1
Slide 17: Balance sheet – Assets
Financial review Balance sheet Assets 31.03.2022 31.03.2021 31.12.2021 ASSETS • Increase in fixed asset balance driven Non-current assets by MEP Fixed assets 184 342 147 720 167 457 Deferred tax assets 32 132 32 622 27 859 Total non-current assets 216 474 180 342 195 316 • Deferred tax asset in rela
Slide 18: Balance sheet – Equity and liabilities
Financial review Balance sheet Equity and liabilities • No interest-bearing debt, MNOK 1.1 in 31.03.2022 31.03.2021 31.12.2021 EQUITY AND LIABILITIES Equity obligations related to lease contracts that are Share capital 44 345 44 345 44 345 recognized in the balance sheet according to Share premium 2
Slide 19: Slide 19
Slide 20: Metformin Expansion Project update
MEP & Summary Metformin Expansion Project update Operational: Financial: • Line #1 producing according to plan • Increased working capital requirements in 1H’22 driven by raw material stock and time from production • Line #2 started production last week of March. start of line #2 to payment from cus
Slide 21: Summary
MEP & Summary Summary Metformin market expected to continue to grow Vistin is strategically well positioned as many by 5-6% annually European clients prefer high quality supplies • Diabetes is one of the largest health crises of the 21 st century with short travel distances • Metformin is expected t
Slide 22: The Manufacturing Expansion Project will increase Vistin's global market share to approximately 15%
The Manufacturing Expansion Project (MEP) will increase Vistin’s global market share to approximately 15%
Slide 23: Slide 23
Slide 24: Appendix
Appendix
Slide 25: Top 20 shareholders as of 31 March 2022
Appendix Top 20 share- NAME Intertrade Shipping AS* Pactum Vekst AS* SHAREHOLDING 12 575 000 3 519 733 % SHARE 28,4% 7,9% holders as of Holmen Spesialfond MP Pensjon PK 3 250 000 1 719 848 7,3% 3,9% 31 March 2022 Ferncliff Listed Dai AS* August Ringvold Agentur AS 784 280 750 315 1,8% 1,7% Storkleiv
Slide 26: Thank you for your attention.
Thank you for your attention. www.vistin.com Alexander Karlsen (CFO) Magnus Tolleshaug (CCO) www.vistin.com 27 April 2022