Medistim Asa · OSL:MEDI
Medistim Asa — Q3 2016 Earnings Presentation
22 slides from Medistim Asa's earnings presentation, Oct 19, 2016
Slide 1: Medistim ASA Third Quarter 2016
Medistim ASA Third Quarter 2016 Kari E. Krogstad, President and CEO Thomas Jakobsen, CFO October 19th, 2016
Slide 2: Disclaimer
2 19.10.2016 Medistim ASA Q3 2016 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 19.10.2016 Medistim ASA Q3 2016 Table of contents 1. Highlights third quarter 2. Financial statements 3. Business segments update 4. Implementing the strategy
Slide 4: 1. Highlights third quarter
MED (STIM 1. Highlights third quarter
Slide 5: Highlights third quarter 2016
5 19.10.2016 Medistim ASA Q3 2016 Highlights third quarter 2016 Q3 2016 QoQ • 10.2 % sales growth for the quarter o YTD up 13.5% Revenue 10.2% o Sales of own products increased with 20.3 % to MNOK 67.9 (61.6) MNOK 53.6 Another record quarter for the USA with sales up o EBIT 26.3 % 18.5 % to MNOK 23.
Slide 6: 2. Financial statements
2. Financial statements
Slide 7: Profit and loss Q3 2016
7 19.10.2016 Medistim ASA Q3 2016 Profit and loss Q3 2016 Profit & loss Q3 2016 Q3 2015 All numb ers in NOK 1000 Sales per Quarter (TNOK) 80 000 Sales 67 933 61 646 70 000 Cost of goods sold 15 420 13 796 Salary and sosial expenses 23 320 21 347 60 000 Other operating expenses 10 231 11 175 50 000 T
Slide 8: Profit and loss Year to date
8 19.10.2016 Medistim ASA Q3 2016 Profit and loss Year to date Profit & loss YTD 2016 YTD 2015 Sales per Quarter (TNOK) 80 000 All numb ers in NOK 1000 Sales 200 627 176 807 70 000 Cost of goods sold 48 428 44 562 60 000 Salary and sosial expenses 64 409 55 724 Other operating expenses 32 492 31 180
Slide 9: Balance sheet - Assets
9 19.10.2016 Medistim ASA Q3 2016 Balance sheet - Assets Balance sheet 30.09.2016 31.12.2015 All numb ers in NOK 1000 250 000 200 000 Assets 150 000 Intangible assets 53 195 55 122 Fixed assets 16 501 14 158 100 000 Total intangible and fixed assets 69 696 69 280 50 000 Inventory 56 105 46 613 - Cus
Slide 10: Balance sheet - Equity and liability
10 19.10.2016 Medistim ASA Q3 2016 Balance sheet - Equity and liability 250 000 Balance sheet 30.09.2016 31.12.2015 All numb ers in NOK 1000 200 000 Share capital 4 585 4 585 150 000 Premium fund 41 852 41 852 Other equity 112 716 109 727 100 000 Total equity 159 153 156 164 50 000 Total long term d
Slide 11: 3. Business segments update
3. Business segments update
Slide 12: Flow probes and systems in units
12 19.10.2016 Medistim ASA Q3 2016 Flow probes and systems in units Flow probes in units (excl USA) Flow systems in units (VeriQ & MiraQ) 1 900 35 1 800 30 1 700 25 1 600 Europe 20 1 500 US 1 400 15 1 300 ROW 10 1 200 Asia 5 1 100 1 000 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 14 1
Slide 13: Imaging probes and systems in units
13 19.10.2016 Medistim ASA Q3 2016 Imaging probes and systems in units Imaging probes in units (incl USA) Imaging systems in units (VeriQC & MiraQ) 30 30 25 25 20 20 15 10 15 5 10 - 5 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 0 14 14 15 15 15 15 16 16 16 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Imaging probes US imaging probes
Slide 14: Q3 revenue performance by region
14 19.10.2016 Medistim ASA Q3 2016 Q3 revenue performance by region Mill NOK Q3 '16 Q3 '15 Q/Q YTD 2016 YTD 2015 Y/Y Europe 28,3 34,2 -17,4 % 98,1 99,2 -1,2 % USA 23,5 19,8 18,5 % 69,1 56,4 22,7 % Asia & Jp 8,9 4,8 83,6 % 20,1 13,6 47,8 % ROW 7,3 2,8 163,3 % 13,4 7,6 75,3 % (MEA, CAN, SA, AUS) Total
Slide 15: Q3 revenue performance by product
15 19.10.2016 Medistim ASA Q3 2016 Q3 revenue performance by product Mill NOK Q3 '16 Q3 '15 Q/Q YTD 2016 YTD 2015 Y/Y Procedures (USA) 20,9 18,4 13,4 % 61,6 51,7 19,2 % Flow probes 18,1 15,4 17,8 % 53,0 44,2 19,8 % Flow systems (VeriQ & MiraQ) 3,7 3,1 18,4 % 12,1 9,2 30,9 % Imaging systems (VeriQ C
Slide 16: 4. Implementing the strategy
4. Implementing the strategy
Slide 17: Growth opportunities – in developing Medistim markets
17 19.10.2016 Medistim ASA Q3 2016 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: High performance US sales organization
18 19.10.2016 Medistim ASA Q3 2016 45000 40000 35000 High performance US sales organization 30000 25000 20000 2010 2011 2012 2013 2014 2015 Number of procedures per year RESULTS YTD 2016 # of Procedures per Consecutive Quarter • Revenues up by 22.7 % in NOK 12 500 • 13.2 % growth in USD 11 500 • Num
Slide 19: Growth opportunities – in vascular markets
19 19.10.2016 Medistim ASA Q3 2016 Growth opportunities – in vascular 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 economies (e
Slide 20: Building position at the European vascular conference 2016 (ESVS)
20 19.10.2016 Medistim ASA Q3 2016 Building position at the European vascular conference 2016 (ESVS - European Society of Vascular Surgery) • Cooperation initiated with the ESVS organization o Key opinion leader relationship building o Rise awareness and get quality assessment and surgical guidance
Slide 21: 20 largest share holders (per 12. October 2016)
21 19.10.2016 Medistim ASA Q3 2016 20 largest share holders (per 12. October 2016) Shareholder Number of shares Shares in % INTERTRADE SHIPPING 3 850 000 21,00 % SALVESEN & THAMS INV 1 862 500 10,16 % SKAGEN VEKST 1 070 072 5,84 % FOLLUM CAPITAL AS 1 000 000 5,45 % STENSHAGEN INVEST AS V/Lars Hatlet
Slide 22: Seeing is believing
22 19.10.2016 Medistim ASA Q3 2016 Seeing is believing