Vistin Pharma Asa · OSL:VISTN
Vistin Pharma Asa — Q2 2021 Earnings Presentation
22 slides from Vistin Pharma Asa's earnings presentation, Aug 19, 2021
Slide 1: Vistin Pharma – Second quarter and first half 2021 results
Vistin Pharma – Second quarter and first half 2021 results Kjell-Erik Nordby (CEO) Alexander Karlsen (CFO) 19 August 2021 1
Slide 2: Agenda
Agenda Highlights Operational review Financial review Outlook Appendix 2
Slide 3: Second quarter 2021 results
HIGHLIGHTS Second quarter 2021 results ▪ Record high sales volume in quarter, however revenue negatively affected by a significantly stronger NOK vs EUR compared to similar quarter last year - MNOK 67 in revenue vs. MNOK 73 in Q2 2020, a 8% decrease - MNOK 138 in revenue YTD 2021 compared to MNOK 13
Slide 4: 2019-2021 Strong revenue and EBITDA development
HIGHLIGHTS 2019-2021 Strong revenue and EBITDA development MNOK *Revenues YTD 33% 160 134 138 140 120 103 100 80 *EBITDA 60 40 20 406% 0 1H 2019 1H 2020 1H 2021 MNOK *EBITDA YTD 40 173% 35 35 32 30 25 20 15 12 10 5 0 1H 2019 1H 2020 1H 2021 4 *Only pharmaceuticals
Slide 5: Agenda
Agenda Highlights Operational review Financial review Outlook Appendix 5
Slide 6: Vistin Pharma a dedicated metformin producer with a bright outlook
OPERATIONAL REVIEW - PHARMACEUTICALS Vistin Pharma a dedicated metformin producer with a bright outlook DIABETES METFORMIN A BRIGHT OUTLOOK - - FOR VISTIN PHARMA ONE OF THE THE GOLD STANDARD - LARGEST HEALTH + TREATMENT OF TYPE = A LEADING GLOBAL EMERGENCIES IN THE 2 DIABETES PRODUCER OF 21ST CENTUR
Slide 7: Metformin will remain 1st-line treatment for type 2 diabetes in the foreseeable future
OPERATIONAL REVIEW - PHARMACEUTICALS Metformin will remain 1st-line treatment for type 2 diabetes in the foreseeable future 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 sensiti
Slide 8: Diabetes – A global emergency
OPERATIONAL REVIEW - PHARMACEUTICALS Diabetes – A global emergency Number of people living with diabetes Source International Diabetes Federation, IDF Diabetes Atlas, seventh edition, 2019 8
Slide 9: Vistin Pharma is a metformin player with a world wide sales coverage
OPERATIONAL REVIEW - PHARMACEUTICALS Vistin Pharma is a metformin player with a world wide sales coverage 9
Slide 10: Record high sales and production volumes in quarter
OPERATIONAL REVIEW - PHARMACEUTICALS Record high sales and production volumes in quarter Quarterly sales volume metformin (HCl & DC) ▪ Sales volume for the second quarter was 958MT, up 1200 by 5% vs Q2 2020 (915MT) 1000 930 915 958 ▪ YTD sales of 1 858 MT compared to 1 788 MT in 1H of 900 866 815 87
Slide 11: Corona pandemic status
OPERATION UPDATE Corona pandemic status ▪ The Fikkjebakke plant has been running at full capacity throughout the Covid-19 pandemic - Successful actions have been taken to secure the supply of critical raw materials and to build security stocks during the Covid-19 outbreak ▪ Lack of available contain
Slide 12: Agenda
Agenda Highlights Operational review Financial review Outlook Appendix 12
Slide 13: Key quarterly figures for Vistin Pharma
FINANCIAL REVIEW Key quarterly figures for Vistin Pharma Revenue NOK million ▪ MNOK 6 and 8% decrease in revenue YoY – driven by significantly stronger NOK vs EURO 80 Revenues 73 68 71 67 ▪ Unfavourable product mix in Q2’21 vs Q2’22 (and 70 64 61 61 Q1’21) 60 57 55 ▪ Record high transportation cost
Slide 14: Key quarterly figures for Vistin Pharma
FINANCIAL REVIEW Key quarterly figures for Vistin Pharma Results (pharmaceuticals) NOK million 25 EBITDA ▪ EBITDA of MNOK 15.6 vs MNOK 20.9 in Q2 2020, a 21 decrease of 26% 20 16 16 ▪ EBITDA negatively affected by significant stronger 15 13 14 14 NOK versus EURO 12 10 ▪ Increase in key raw material
Slide 15: Consolidated income statement
FINANCIAL REVIEW Consolidated income statement (NOK 1 000) Q2 2021 Q2 2020 YTD 2021 YTD 2020 FY 2020 Total revenue and income Pharmaceuticals 66 847 73 021 137 650 134 428 253 905 Energy Trading - - - - - HQ & other - - - - - Total revenue and income 66 847 73 021 137 650 134 428 253 905 EBITDA Phar
Slide 16: Balance sheet Vistin Pharma – Assets
FINANCIAL REVIEW Balance sheet Vistin Pharm Assets NOK 1000 30.06.2021 30.06.2020 31.12.2020 ASSETS 350 000 Non-current assets 300 000 Fixed assets 160 642 100 968 145 261 250 000 Deferred tax assets 30 347 35 003 35 128 Total non-current assets 190 989 135 971 180 389 200 000 150 000 Current assets
Slide 17: Balance sheet Vistin Pharma – Equity and liabilities
FINANCIAL REVIEW Balance sheet Vistin Pharm Equity and liabilities NOK 1000 30.06.2021 30.06.2020 31.12.2020 EQUITY AND LIABILITIES Equity 350 000 Share capital 44 308 44 345 44 345 Share premium 206 885 229 056 229 056 300 000 Retained earnings 15 894 (14 448) (996) 250 000 Total equity 267 086 258
Slide 18: Agenda
Agenda Highlights Operational review Financial review Outlook Appendix 18
Slide 19: Outlook
Outlook Outlook ▪ Metformin market expected to continue to grow by 5-6% annually - Diabetes is one of the largest health crises of the 21st century - Metformin is expected to maintain its position as the Gold Standard treatment for T2D in the foreseeable future ▪ Attractive growth potential from exi
Slide 20: Agenda
Agenda Highlights Operational review Financial review Outlook Appendix 20
Slide 21: Top 20 shareholders as of 30 June 2021
APPENDIX Top 20 shareholders as of 30 June 2021 NAME SHAREHOLDING % SHARE INTERTRADE SHIPPING AS* 12 575 000 28,4 % PACTUM AS* 3 519 733 7,9 % HOLMEN SPESIALFOND 3 250 000 7,3 % MP PENSJON PK 1 699 848 3,8 % TYCOON INDUSTRIER AS* 784 280 1,8 % AUGUST RINGVOLD AGENTUR AS 750 315 1,7 % SPAREBANK 1 MAR
Slide 22: Thank you for your attention!
Thank you for your attention! www.vistin.com 22