Medistim Asa · OSL:MEDI
Medistim Asa — Q3 2019 Earnings Presentation
24 slides from Medistim Asa's earnings presentation, Oct 24, 2019
Slide 1: Medistim ASA Third quarter 2019
Medistim ASA Third quarter 2019 Kari E. Krogstad, President and CEO Thomas Jakobsen, CFO October 24th, 2019
Slide 2: Disclaimer
2 24.10.2019 Medistim ASA Q3 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 24.10.2019 Medistim ASA Q3 2019 Table of contents 1. Highlights third quarter 2. Financial statements 3. Business segments update 4. Implementing the strategy
Slide 4: 1. Highlights 3rd quarter
MED (STIM 1. Highlights 3rd quarter
Slide 5: Highlights 3rd quarter 2019
5 24.10.2019 Medistim ASA Q3 2019 Highlights 3rd quarter 2019 Q3 2019 QoQ • Sales for the third quarter 2019 ended with a 10.2 % Revenue 10.2% growth over Q3 2018 MNOK 85.5 (77.6) o Currency neutral sales of own products up 15.9 % o 3rd party products down 25.0 % EBIT 32.2 % o Growth for the quarter
Slide 6: Medistim ASA Q3 2019
6 24.10.2019 Medistim ASA Q3 2019
Slide 7: 2. Financial statements
2. Financial statements
Slide 8: Profit and loss Q3 2019
8 24.10.2019 Medistim ASA Q3 2019 Profit and loss Q3 2019 Profit & loss Q3 2019 Q3 2018 Sales per Quarter (TNOK) All numb ers in NOK 1000 110 000 Sales 85 517 77 613 100 000 90 000 Cost of goods sold 18 463 21 521 80 000 Salary and sosial expenses 32 156 26 907 70 000 Other operating expenses 11 258
Slide 9: Profit and loss YTD September 2019
9 24.10.2019 Medistim ASA Q3 2019 Profit and loss YTD September 2019 Sales per Quarter (TNOK) Profit & loss YTD Sept 2019 YTD Sept 2018 All numb ers in NOK 1000 110 000 100 000 Sales 268 050 227 967 90 000 Cost of goods sold 60 302 58 382 80 000 70 000 Salary and sosial expenses 86 832 74 523 60 000
Slide 10: Balance sheet - Assets
10 24.10.2019 Medistim ASA Q3 2019 Balance sheet - Assets Balance sheet 30.09.2019 31.12.2018 All numb ers in NOK 1000 350 000 Assets 300 000 250 000 Intangible assets 40 943 41 944 200 000 Fixed assets 43 819 37 198 150 000 Total intangible and fixed assets 84 762 79 142 100 000 Inventory 71 631 63
Slide 11: Balance sheet - Equity and liability
11 24.10.2019 Medistim ASA Q3 2019 Balance sheet - Equity and liability Balance sheet 30.09.2019 31.12.2018 All numb ers in NOK 1000 350 000 300 000 Share capital 4 585 4 585 Premium fund 44 172 44 172 250 000 Other equity 174 387 157 955 200 000 Total equity 223 144 206 712 150 000 100 000 Total lo
Slide 12: Medistim ASA Q3 2019
12 24.10.2019 Medistim ASA Q3 2019
Slide 13: 3. Business segments update
3. Business segments update
Slide 14: Flow probes and systems in units
14 24.10.2019 Medistim ASA Q3 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 USA 15 500 10 ROW 5 Asia - Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 - 17 17 18 18 18 18 19 19 19 Q2 Q3 Q4 Q1 Q2 Q3 Q
Slide 15: Imaging probes and systems in units
15 24.10.2019 Medistim ASA Q3 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 25 ROW 20 20 Europe 15 Asia 10 10 US - 5 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 17 17 18 18 18 18 19 19 19 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Slide 16: Q3 and YTD September revenue performance by region
16 24.10.2019 Medistim ASA Q3 2019 Q3 and YTD September revenue performance by region Mill NOK Q3 '19 Q3 '18 Q/Q YTD 19 YTD 18 H/H Europe 36,1 37,5 -3,7 % 117,1 116,1 0,9 % USA 29,5 27,5 7,3 % 101,0 74,4 35,8 % Asia 14,1 7,0 102,8 % 31,0 24,8 25,2 % ROW 5,7 5,6 2,3 % 19,0 12,7 48,8 % (MEA, CAN, SA,
Slide 17: Q3 and YTD revenue performance by product
17 24.10.2019 Medistim ASA Q3 2019 Q3 and YTD revenue performance by product Mill NOK Q3 '19 Q3 '18 Q/Q YTD 19 YTD 18 H/H Procedures (USA) 25,1 20,7 21,2 % 78,5 61,9 26,7 % Flow probes 22,5 18,9 19,1 % 68,4 60,7 12,6 % Flow systems (VeriQ & MiraQ) 8,2 11,0 -25,8 % 24,4 24,7 -1,6 % Imaging systems (V
Slide 18: Medistim ASA Q3 2019
18 24.10.2019 Medistim ASA Q3 2019
Slide 19: 4. Implementing the strategy
4. Implementing the strategy
Slide 20: Growth opportunities – in developing Medistim markets
20 24.10.2019 Medistim ASA Q3 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 21: Performance US sales organization
21 24.10.2019 Medistim ASA Q3 2019 Performance US sales organization 60000 50000 RESULTS Q3 2019 40000 • Revenues down 1.0 % in USD 30000 o Revenues up 7.3 % in NOK, to MNOK 29.5, 20000 due to favorable currency 2010 2011 2012 2013 2014 2015 2016 2017 2018 o YTD up 25.3 % in USD Number of procedures
Slide 22: MiraQ approved for sale in Japan
22 24.10.2019 Medistim ASA Q3 2019 MiraQ approved for sale in Japan • A large market for Medistim due to > 600 cardiovascular centers and about 20.000 coronary bypass procedures performed per year • Medistim has a large installed base of > 700 systems and is covering over 80 % of coronary surgeries
Slide 23: 20 largest shareholders
23 24.10.2019 Medistim ASA Q3 2019 20 largest shareholders Rank Holding Shares in % Name 1 4 003 500 21,8 INTERTRADE SHIPPING AS 2 1 862 500 10,2 SALVESEN & THAMS INVEST AS 3 1 000 000 5,5 FOLLUM CAPITAL AS 4 910 246 5,0 SWEDBANK ROBUR SMABOLAGSFOND 5 649 373 3,5 Skandinaviska Enskilda Banken AB 6 6
Slide 24: Seeing is believing
24 24.10.2019 Medistim ASA Q3 2019 Seeing is believing