Medistim Asa · OSL:MEDI
Medistim Asa — Q1 2019 Earnings Presentation
20 slides from Medistim Asa's earnings presentation, Apr 25, 2019
Slide 1: Medistim ASA First quarter 2019
Medistim ASA First quarter 2019 Kari E. Krogstad, President and CEO Thomas Jakobsen, CFO April 25th, 2019
Slide 2: Disclaimer
2 25.04.2019 Medistim ASA Q1 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 25.04.2019 Medistim ASA Q1 2019 Table of contents 1. Highlights first 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 1st quarter 2019
5 25.04.2019 Medistim ASA Q1 2019 Highlights 1st quarter 2019 Q1 2019 QoQ • Sales for the first quarter 2019 ended with a 19.7 % growth Revenue 19.7% over Q1 2018, a strong follow-up after the all time high MNOK 88.7 (74.1) quarter for Q4 2018 o Currency neutral sales of own products up 20.0 % o 3rd
Slide 6: 2. Financial statements
2. Financial statements
Slide 7: Profit and loss Q1 2019
7 25.04.2019 Medistim ASA Q1 2019 Profit and loss Q1 2019 Sales per Quarter (TNOK) Profit & loss Q1 2019 Q1 2018 110 000 All numb ers in NOK 1000 100 000 90 000 Sales 88 736 74 133 80 000 Cost of goods sold 20 694 18 255 70 000 Salary and sosial expenses 31 028 26 784 60 000 50 000 Other operating e
Slide 8: Balance sheet - Assets
8 25.04.2019 Medistim ASA Q1 2019 Balance sheet - Assets Balance sheet 31.03.2019 31.12.2018 350 000 All numb ers in NOK 1000 300 000 Assets 250 000 Intangible assets 41 822 41 944 200 000 Fixed assets 44 598 37 198 150 000 Total intangible and fixed assets 86 420 79 142 100 000 Inventory 61 602 63
Slide 9: Balance sheet - Equity and liability
9 25.04.2019 Medistim ASA Q1 2019 Balance sheet - Equity and liability 350 000 Balance sheet 31.03.2019 31.12.2018 All numb ers in NOK 1000 300 000 Share capital 4 585 4 585 250 000 Premium fund 44 172 44 172 200 000 Other equity 174 801 157 955 Total equity 223 558 206 712 150 000 Total long term d
Slide 10: Medistim ASA Q1 2019
10 25.04.2019 Medistim ASA Q1 2019
Slide 11: 3. Business segments update
3. Business segments update
Slide 12: Flow probes and systems in units
12 25.04.2019 Medistim ASA Q1 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 20 1 000 US 15 500 10 ROW - 5 Asia Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 - 17 17 17 17 18 18 18 18 19 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Slide 13: Imaging probes and systems in units
13 25.04.2019 Medistim ASA Q1 2019 Imaging probes and systems in units Imaging probes in units (incl USA) Imaging systems in units (VeriQC & MiraQ capital sales) 40 50 35 40 30 30 20 25 ROW 10 20 Europe - 15 Asia Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 10 17 17 17 17 18 18 18 18 19 US 5 Imaging probes US imaging
Slide 14: Q1 revenue performance by region
14 25.04.2019 Medistim ASA Q1 2019 Q1 revenue performance by region Mill NOK Q1 '19 Q1 '18 Q/Q 2018 Europe 38,4 40,2 -4,6 % 154,8 USA 34,6 23,0 50,4 % 113,1 Asia & Jp 7,0 8,5 -17,7 % 38,7 ROW (MEA, CAN, SA, AUS) 8,8 2,4 261,4 % 19,3 Total 88,7 74,1 19,7 % 325,9 • In Europe, sales decreased with 4.6
Slide 15: Q1 revenue performance by product
15 25.04.2019 Medistim ASA Q1 2019 Q1 revenue performance by product Mill NOK Q1 '19 Q4 '18 Q/Q 2018 Procedures (USA) 26,3 19,6 34,3 % 89,5 Flow probes 21,9 20,5 7,1 % 85,7 Flow systems (VeriQ & MiraQ) 7,2 6,7 7,8 % 32,5 Imaging systems (VeriQ C & MiraQ) 12,3 7,3 68,6 % 39,9 Imaging probes 1,3 0,6 1
Slide 16: 4. Implementing the strategy
4. Implementing the strategy
Slide 17: Growth opportunities – in developing Medistim markets
17 25.04.2019 Medistim ASA Q1 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 18: Performance US sales organization
18 25.04.2019 Medistim ASA Q1 2019 60000 55000 Performance US sales organization 50000 45000 40000 35000 30000 25000 20000 RESULTS Q1 2019 2010 2011 2012 2013 2014 2015 2016 2017 2018 Number of procedures per year • Revenues up 37.3 % in USD o Revenues up 50.4 % in NOK, to MNOK 34.6, 17 500 due to f
Slide 19: Outlook
19 25.04.2019 Medistim ASA Q1 2019 Outlook Accelerated growth in the CABG segment: o Leverage the REQUEST study results Accelerated growth in the Vascular segment: o Mobilization of sales network Adding value to the customer experience o Product and technology development Seeing is believing f
Slide 20: 20 largest shareholders
20 25.04.2019 Medistim ASA Q1 2019 20 largest shareholders Number of shares Shares in % Shareholder 4 003 500 21,83 INTERTRADE SHIPPING AS 1 862 500 10,16 SALVESEN & THAMS INVEST AS 1 100 246 6,00 SWEDBANK ROBUR SMABOLAGSFOND 1 000 000 5,45 FOLLUM CAPITAL AS 882 111 4,81 State Street Bank and Trust