Vistin Pharma Asa · OSL:VISTN
Vistin Pharma Asa — Q2 2022 Earnings Presentation
25 slides from Vistin Pharma Asa's earnings presentation, Aug 19, 2022
Slide 1: Q2 2022 presentation, 19 August 2022
Alexander Karlsen (CFO) / Magnus Tolleshaug (CCO & Interim CEO) 19 August 2022
Slide 2: Doubling capacity to meet increasing market demand
‘’Doubling capacity to meet increasing market demand – balancing growth with sustainable operations’’
Slide 3: Agenda
Agenda Highlights Operational review Financial review MEP & Summary Appendix
Slide 4: Second quarter and YTD 2022 results
Highlights Second quarter and YTD 2022 results MNOK 69 in revenue vs. MNOK 67 in Q2 2021 Volume output is gradually increasing as the new • Revenue of MNOK 69 compared to MNOK 67 in line #2 ramps-up second quarter 2021, a 3% increase. Due to MEP • Existing line #1 produced according to plan in quart
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Slide 6: We are pure play metformin company with a bright outlook
We are pure play metformin company with a bright outlook A bright outlook Diabetes Metformin for Vistin Pharma One of the largest + The gold standard = A leading global health emergencies treatment of type in the 21st century 2 diabetes producer of premium metformin • Market demand for Metformin is
Slide 7: 1st-line treatment
Operational review 1st-line treatment 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 sensitivity, leading to increased uptake of glucose in the body Most cost-efficient treatment
Slide 8: Diabetes – A global emergency
Diabetes – A global emergency
Slide 9: Number of people living with diabetes
Number of people living with diabetes / Source: International Diabetes Federation, IDF Diabetes Atlas, seventh edition, 2019
Slide 10: Vistin Pharma is a metformin player with world wide sales coverage
Vistin Pharma is a metformin player with a world wide sales coverage
Slide 11: World sales map
sales map North Atlantic ‘Ocean
Slide 12: Limited sales volume available in Q2'22 due to planned MEP volume ramp-up
Financial review Limited sales volume available in Q2’22 due to planned MEP volume ramp-up phase Quarterly sales volume metformin (HCl & DC) Annual sales volume metformin (HCl & DC) 1200 4000 3748 1031 3500 3360 1000 956 3219 915 900 3137 861 853 2961 802 3000 2784 800 770 2500 600 2000 460 1500 131
Slide 13: Revenue
Financial review Revenue 90 • Revenue increase vs Q2’21, even with 78 80 limited sales volume available due to MEP 73 71 67 69 volume ramp-up 70 64 63 60 • Current sales prices increased to reflect the 55 raw material, freight and energy prices 50 • Ukraine situation has further increased 40 volatil
Slide 14: EBITDA
Financial review EBITDA 25 • EBITDA affected by limited sales volume 20 available and start-up & onboarding costs for 20 15 new line 15 13 13 11 • No expected change in manning for rest of year 10 8 = significant volume leverage 2H and onwards 5 5 4 • Semi-variable overhead costs like; supply, tools
Slide 15: Income statement
Financial review Income statement (NOK 1 000) Q2 2022 Q2 2021 YTD 2022 YTD 2021 FY 2021 Total revenue and income Total revenue and income 68 989 66 847 102 208 137 650 278 623 EBITDA EBITDA 4 720 13 412 (13 474) 28 769 43 858 EBT EBT 310 10 338 (19 114) 21 603 31 994 Depreciation & amortisation (2 6
Slide 16: Balance sheet
Financial review Balance sheet Assets • Increase in fixed asset balance driven by MEP 31.06.2022 31.06.2021 31.12.2021 ASSETS Non-current assets • Deferred tax asset in relation to Fixed assets 194 358 160 642 167 457 realized loss for Energy Trading in Q1 Deferred tax assets 32 063 30 347 27 859 20
Slide 17: Balance sheet
Financial review Balance sheet Equity and liabilities 30.06.2022 30.06.2021 31.12.2021 EQUITY AND LIABILITIES • Strong balance sheet with an 70% equity Equity ratio Share capital 44 345 44 345 44 345 Share premium 206 885 206 885 206 885 Retained earnings 9 629 15 856 24 538 • Increase in current li
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Slide 19: Metformin Expansion Project update
MEP & Summary Metformin Expansion Project update Operational: Financial: • Existing line #1 produced according to plan in • Increased working capital requirements in Q2’22 quarter, however at slightly reduced capacity due to driven by raw material stock and time from production normal maintenance st
Slide 20: Summary
MEP & Summary Summary Metformin market expected to continue to grow Vistin is strategically well positioned as many by 5-6% annually European clients prefer high quality supplies • Diabetes is one of the largest health crises of the 21st century with short travel distances • Metformin is expected to
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Slide 22: The Manufacturing Expansion Project will increase Vistin's global market share to approximately 15%
The Manufacturing Expansion Project (MEP) will increase Vistin’s global market share to approximately 15%
Slide 23: Appendix
Appendix
Slide 24: Top 20 shareholders as of 30 June 2022
Appendix Top 20 share- NAME INTERTRADE SHIPPING AS* PACTUM VEKST AS* SHAREHOLDING 12 575 000 3 519 733 % SHARE 28,4 % 7,9 % holders as of HOLMEN SPESIALFOND MP PENSJON PK 3 250 000 1 719 848 7,3 % 3,9 % 30 June 2022 FERNCLIFF LISTED DAI AS* AUGUST RINGVOLD AGENTUR AS 784 280 750 315 1,8 % 1,7 % 1,6
Slide 25: Thank you for your attention
Thank you for your attention. www.vistin.com Alexander Karlsen (CFO) Magnus Tolleshaug (CCO & interim CEO) www.vistin.com 19 August 2022