Vistin Pharma Asa · OSL:VISTN
Vistin Pharma Asa — Q3 2021 Earnings Presentation
22 slides from Vistin Pharma Asa's earnings presentation, Oct 28, 2021
Slide 1: Vistin Pharma – Third quarter and YTD 2021 results
Vistin Pharma – Third quarter and YTD 2021 results Kjell-Erik Nordby (CEO) Alexander Karlsen (CFO) 28 October 2021 1
Slide 2: Agenda
Agenda Highlights Operational review Financial review Summary Appendix 2
Slide 3: Third quarter 2021 results
HIGHLIGHTS Third quarter 2021 results ▪ MNOK 63 in revenue vs. MNOK 55 in Q3 2020, a 14% increase - Revenue increase driven by higher sales volume and sales prices, partly offset by a significant stronger NOK vs EUR - MNOK 201 in revenue YTD 2021 compared to MNOK 189 YTD last year, a 6% growth despi
Slide 4: 2019-2021 Strong revenue and EBITDA development
HIGHLIGHTS 2019-2021 Strong revenue and EBITDA development MNOK *Revenues YTD 250 17% 201 200 189 171 150 *EBITDA 100 50 406% 0 1-3Q 2019 1-3Q 2020 1-3Q 2021 MNOK *EBITDA YTD 50 44 45 50% 40 36 35 30 24 25 20 15 10 5 0 1-3Q 2019 1-3Q 2020 1-3Q 2021 4 *Only pharmaceuticals
Slide 5: Agenda
Agenda Highlights Operational review Financial review Summary 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 volume YTD compared to 2020 (+6%)
OPERATIONAL REVIEW - PHARMACEUTICALS Record high sales volume YTD compared to 2020 (+6%) Quarterly sales volume metformin (HCl & DC) ▪ Sales volume for the third quarter was 861MT, up by 1200 12% vs Q3 2020 (770MT) 1000 930 956 ▪ YTD sales volume of 2 717 MT compared to 2 558 MT 915 900 815 873 861
Slide 11: Corona pandemic status
OPERATION UPDATE Corona pandemic status ▪ The Fikkjebakke plant has been running at full capacity throughout the Covid-19 pandemic, except for a short stop in Q3 due to delayed supply of raw material - Actions are taken to secure the supply of critical raw materials and to build security stocks ▪ La
Slide 12: Agenda
Agenda Highlights Operational review Financial review Summary Appendix 12
Slide 13: Key quarterly figures for Vistin Pharma
FINANCIAL REVIEW Key quarterly figures for Vistin Pharma Revenue NOK million ▪ MNOK 8 and 14% increase in revenue YoY – driven by Revenues 80 73 increased sales volume and increased ASP, partly offset 71 70 68 67 by significantly stronger NOK vs EURO 64 63 61 57 60 55 ▪ Record high inbound transport
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 4.6 vs MNOK 9.5 in Q3 2020, a 21 decrease of 52% 20 16 16 ▪ EBITDA negatively affected by significant stronger 15 14 14 NOK versus EURO 12 10 ▪ Increase in key raw material cost
Slide 15: Consolidated income statement
FINANCIAL REVIEW Consolidated income statement (NOK 1 000) Q3 2021 Q3 2020 YTD 2021 YTD 2020 FY 2020 Total revenue and income Pharmaceuticals 62 854 55 056 200 503 189 484 253 905 Energy Trading - - - - - HQ & other - - - - - Total revenue and income 62 854 55 056 200 503 189 484 253 905 EBITDA Phar
Slide 16: Balance sheet Vistin Pharma – Assets
FINANCIAL REVIEW Balance sheet Vistin Pharm Assets NOK 1000 30.09.2021 30.09.2020 31.12.2020 ASSETS 350 000 Non-current assets 300 000 Fixed assets 162 607 117 925 145 261 250 000 Deferred tax assets 30 080 33 726 35 128 200 000 Total non-current assets 192 687 151 651 180 389 150 000 Current assets
Slide 17: Balance sheet Vistin Pharma – Equity and liabilities
FINANCIAL REVIEW Balance sheet Vistin Pharm Equity and liabilities NOK 1000 30.09.2021 30.09.2020 31.12.2020 EQUITY AND LIABILITIES Equity Share capital 44 345 44 345 44 345 350 000 Share premium 206 885 229 056 229 056 300 000 Retained earnings 16 894 (9 918) (996) Total equity 268 124 263 484 272
Slide 18: Agenda
Agenda Highlights Operational review Financial review Summary Appendix 18
Slide 19: Summary
Outlook Summary ▪ 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 to be re
Slide 20: Agenda
Agenda Highlights Operational review Financial review Summary Appendix 20
Slide 21: Top shareholders as of September 2021
APPENDIX Top 20 shareholders as of 30 September 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 1 669 848 3,8 % FERNCLIFF LISTED DAI AS* 784 280 1,8 % AUGUST RINGVOLD AGENTUR AS 750 315 1,7 % STORKLE
Slide 22: Thank you for your attention!
Thank you for your attention! www.vistin.com 22