Slide 1: Welcome to Medistim ASA's Interim report for the third quarter 2022
Welcome to Medistim ASA’s Interim report for the third quarter 2022 The webinar will begin shortly 1
Slide 2: Before we start
Before we start You will be kept on mute during the presentation. All questions will be answered at the end of the presentation. Click on the arrow to expand or minimize your GoToMeeting panel Add any questions in the questions panel and we will answer them at the end of the presentation
Slide 3: Medistim ASA Q3 2022
Medistim ASA Q3 2022 October 28th 2022 Kari E. Krogstad Thomas Jakobsen PRESIDENT & CEO CFO 3
Slide 4: Disclaimer
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 statements are based on various ass
Slide 5: Table of Contents
Table of Contents 01 ● Highlights 02 ● Financial statements 03 ● Business segments update 04 ● Implementing the strategy 5
Slide 6: Highlights
MED\STIM @ 01 Highlights
Slide 7: Highlights 3rd Quarter
Highlights 3rd Quarter Q3 2022 QoQ Another strong quarter from Medistim Revenue MNOK 116.5 (102.1) +14.0 % ➢ Established quarterly sales above MNOK 100 in sales revenues o Imaging sales up 44.1 % in NOK, Flow sales up 6.8 % EBIT MNOK 34.0 (25.1) +35.6 % o Vascular sales up 26.7 % in NOK, Cardiac sal
Slide 8: Highlights YTD September
Highlights YTD September YTD 2022 YoY Best YTD September ever for revenue Revenue MNOK 350.1 (314.5) + 11.3 % ➢ Sales revenue grows 13.2 % in NOK to MNOK 350.1 (MNOK 309.2) when excluding the PPP grant revenue of MNOK 5.3 from 2021 EBIT MNOK 104.8 (96.8) + 8.2 % o Imaging sales up 47.9 %, Flow up 3.
Slide 9: Financial Statements
MED\STIM 02 Financial Statements
Slide 10: Profit and loss Q3 2022
Profit and loss Q3 2022 Sales per Quarter (TNOK) 130 000 Profit & loss Q3 2022 Q3 2021 120 000 All numbers in NOK 1000 110 000 100 000 Sales revenue 116 490 102 138 90 000 Other revenue - - 80 000 Total revenue 116 490 102 138 70 000 Cost of goods sold 21 892 23 793 60 000 50 000 Salary and sosial e
Slide 11: Profit and loss YTD September 2022
Profit and loss YTD September 2022 Sales per Quarter (TNOK) 130 000 Profit & loss YTD Sept 22 YTD Sept 21 120 000 All numbers in NOK 1000 110 000 Sales revenue 350 114 309 244 100 000 Other revenue - 5 292 90 000 Total revenue 350 114 314 536 80 000 70 000 Cost of goods sold 73 714 69 231 60 000 Sal
Slide 12: Balance sheet – Assets
Balance sheet 30.09.2022 31.12.2021 Balance sheet – All numb ers in NOK 1000 Assets Assets Intangible assets 36 381 33 410 Fixed assets 59 941 63 337 Total intangible and fixed assets 96 322 96 747 Cash position by end of the Inventory 103 309 97 413 quarter was MNOK 124.6 Customers receivables 93 4
Slide 13: Balance sheet – Equity and Liability
Balance sheet 30.09.2022 31.12.2021 All numb ers in NOK 1000 Balance sheet – Share capital Premium fund 4 585 44 172 4 585 44 172 Equity and Liability Other equity 296 932 257 295 Total equity 345 689 306 052 Total long term debt 17 248 19 589 No interest-bearing debt Total short term debt 69 491 77
Slide 14: Business segments update
03 Business segments update 14
Slide 15: Imaging probes and systems in units
Imaging systems in units (capital sales) 30 Imaging probes and 25 22 systems in units 20 17 ROW 15 Europe Asia Unit sales of imaging systems 10 US sold as capital equipment continue to be strong, growing 5 29.4 % this quarter 0 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Imaging probes in
Slide 16: Flow probes and systems in units
Flow probes and systems in units 60 Flow systems in units (capital sales) 50 37 Number of flow systems sold as 40 30 Europe capital equipment is up 23.3 % from 30 USA Q3 last year. 20 ROW It is Medistim’s strategy to convert the market from Flow-only to Flow-and-Imaging technology. Asia 10 MiraQ flo
Slide 17: Revenue performance by region
Revenue performance by region Mill NOK Q3 22 Q3 21 Q/Q YTD 22 YTD 21 YTD / YTD 2021 Europe 43,3 45,8 -5,5 % 140,2 140,8 -0,5 % 190,2 USA 50,4 38,5 30,8 % 150,1 115,0 30,5 % 154,1 Asia 17,1 13,2 29,2 % 46,1 46,5 -0,8 % 66,8 ROW 5,7 4,6 24,6 % 13,7 12,2 12,8 % 16,1 (MEA, CAN, SA, AUS) Total 116,5 102,
Slide 18: Revenue performance by product category
Revenue performance by product category Mill NOK Q3 22 Q3 21 Q/Q YTD 22 YTD 21 YTD / YTD 2021 Procedures (USA) 34,4 28,4 21,3 % 101,9 83,2 22,6 % 111,8 Flow probes 29,1 30,2 -3,5 % 81,1 85,4 -5,0 % 115,7 Flow systems (MiraQ) 12,8 12,0 7,4 % 36,6 33,5 9,4 % 51,0 Imaging systems (MiraQ) 22,3 12,5 77,6
Slide 19: Covid-19: From gradually decreasing impact to strong recovery towards normalcy
Covid-19: From gradually decreasing impact to strong recovery towards normalcy Not completely back to normal Currency neutral change in sales revenues Quarter over Quarter (%) ▪ Lockdowns and restrictions in China 40 36,7*) ▪ New virus variants, new outbreaks as winter 30,6 approaches 30 26,8 ▪ Stil
Slide 20: Implementing the strategy
04 Implementing the strategy 20
Slide 21: Medistim growth strategy
Medistim growth strategy 1. Convert the routine Flow market to a Flow-and-Imaging market by establishing Surgical Guidance and Quality Assessment as Emerging high-growth the new standard of care through economies 3 → Early adopter & KOL support (e.g. BRIC) → REQUEST study Developing → Ease conversio
Slide 22: Developing the US market
MED\STIM Developing the US market 22
Slide 23: Performance US sales
72 032 80000 70000 Performance US sales 60000 CAGR (2013 – 2021) = 11.04 % 50000 40000 Currency neutral sales revenue grows by 30000 18.7 % in Q3 and 24.1 % YTD 20000 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Total number of procedures was up 18.1 % in Q3 Number of procedures per y
Slide 24: Medistim growth strategy
Medistim growth strategy 1. Convert the routine Flow market to a Flow-and-Imaging market by establishing Surgical Guidance and Quality Assessment as Emerging high-growth the new standard of care through economies 3 → Early adopter & KOL support (e.g. BRIC) → REQUEST study Developing → Ease conversio
Slide 25: Build and strengthen position in vascular surgery
Build and strengthen postition in vascular surgery 25
Slide 26: ESVS guidelines recommend intraoperative ultrasound after CEA
ESVS guidelines recommend intraoperative ultrasound after CEA The new Clinical Practice Guideline was presented at the European Society of Vascular Surgery (ESVS) in September 2022 It added a recommendation for the use of intra-operative completion control, with ultrasound imaging, angiography or an
Slide 27: MED\STIM
MED\STIM 27
Slide 28: 20 largest shareholders per 26th October
20 largest shareholders per 26th October Rank Name Number of shares Shares in % Country 1 Aeternum Capital AS 1 862 500 10,2 % Norge 2 ODIN Fonder 1 800 000 9,8 % Norge 3 SEB Fonder 1 750 621 9,5 % Sverige 4 Øyvin A. Brøymer with companies 1 285 000 7,0 % Norge 5 Swedbank Robur Fonder 1 191 000 6,5
Slide 29: MED\STIM
MED\STIM