Vistin Pharma Asa · OSL:VISTN
Vistin Pharma Asa — Q1 2025 Earnings Presentation
29 slides from Vistin Pharma Asa's earnings presentation, Apr 25, 2025
Slide 1: Presentation 2025
Presentation 2025 Magnus Tolleshaug (CEO) / Alexander Karlsen (CFO) / 25 April 2025
Slide 2: Agenda
Agenda • Highlights • Market overview • Financial review • Summary • Appendix
Slide 3: Strong quarter with revenue of MNOK 115 and record high EBITDA of MNOK 30
Highlights Strong quarter with revenue of MNOK 115 and record high EBITDA of MNOK 30 MNOK 115 in revenue vs. MNOK 104 in Q1 2024, Other an increase of 11% • 1 350MT produced in the 1st quarter. The reactor • Sales volumes up 14% compared to same quarter last on line 1 has been replaced during March
Slide 4: Vistin has high 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: Number of people with diabetes expected to increase by 50% from 2019-2045
Number of people with diabetes expected to increase by 50% from 2019-2045 to 780 million people Number of people living with diabetes / Source International Diabetes Federation, IDF Diabetes Atlas, tenth edition, 2021
Slide 10: Key diabetes facts
Key diabetes facts: Number of people living with diabetes Source International Diabetes Federation, IDF Diabetes Atlas, tenth edition, 2021 Source International Diabetes Federation, IDF Diabetes Atlas, tenth edition, 2021
Slide 11: Vistin Pharma produces about 10% of the world's demand of metformin
Vistin Pharma produces about 10% of the world’s demand of metformin and has a world-wide sales coverage
Slide 12: World sales map
World sales map South Atlantic Ocean
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: Q1 2025 sales volume increased by 14% compared to same quarter last year
Financial review Q1 2025 sales volume increased by 14% compared to same quarter last year Quarterly sales volume metformin (HCl & DC) Annual sales volume metformin (HCl & DC) 1600 6000 1440 1400 1400 5200 1400 5000 1260 1230 1250 1300 5000 1200 1200 1100 4000 1000 3500 800 3000 600 2000 1400 400 100
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 120 120 114 115 111 107 104 106 106 101 100 • Revenue of MNOK 115 in Q1’25 vs 103.9 in Q1’24 80 • All production volume in first quarter shipped to cu
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% and favorable economies of scale in raw 58% 59% material purchasing 60% 56% 54% • Vistin long-term ambition for gross margin 50% >60%
Slide 19: Record high EBITDA of MNOK 30 compared to MNOK 20 in Q1 2024 (+48%)
Financial review Record high EBITDA of MNOK 30 compared to MNOK 20 in Q1 2024 (+48%) 35 30 30 29 • EBITDA positively affected by increased sales 27 27 28 volume, product mix and good cost control in 25 quarter 25 20 • EBITDA margin of 26% (20%) in quarter 20 20 represents good commercial execution 1
Slide 20: Key figures: income statement
Financial review Key figures: income statement (NOK 1 000) Q1 2025 Q1 2024 FY 2024 Total revenue and other income 115 037 103 884 429 503 EBITDA 30 214 20 441 104 325 Depreciation & amortisation -4 871 -4 682 -19 029 EBIT 25 344 15 759 85 296 Net finance income/(expense) 2 473 -5 943 - 4 843 Profit/
Slide 21: Balance sheet: assets
Financial review Balance sheet Assets 31.03.2025 31.03.2024 31.12.2024 Non-current assets Fixed assets 229 765 226 607 229 603 • Deferred tax asset in relation to realized Financial Assets 12 154 11 433 12 154 loss for Energy Trading in Q1 2020, fully Deferred tax assets - 12 478 - utilized Total no
Slide 22: Balance sheet: equity and liabilities
Financial review Balance sheet Equity and liabilities 31.03.2025 31.03.2024 31.12.2024 Equity • Strong balance sheet with an equity ratio of Share capital 44 345 44 345 44 345 80% Share premium 129 298 173 626 129 298 Retained earnings 157 584 79 197 135 886 • Dividend payments of MNOK ~78 in 2024 T
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 Q1’2025 manufacturing capacity becomes fully available and optimized • Sales volume increase of 14% compared to same quarter last year • The long-term renewable energy supply agreement signed wi
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 March 2025
Appendix NAME SHAREHOLDING % SHARE INTERTRADE SHIPPING AS* 12 575 000 28,36 % Top 20 share- HOLMEN SPESIALFOND PACTUM VEKST AS* 4 200 379 2 991 773 9,47 % 6,75 % holders as of MP PENSJON PK 1 719 848 3,88 % FERNCLIFF LISTED DAI AS* 1 234 280 2,78 % STORKLEIVEN AS 751 000 1,69 % end March 2025 AUGUST
Slide 29: Thank you for your attention
Thank you for your attention www.vistin.com Magnus Tolleshaug (CEO) Alexander Karlsen (CFO) 25 April 2025