Slide 1: Medistim ASA Second Quarter 2017
Medistim ASA Second Quarter 2017 Kari E. Krogstad, President and CEO Thomas Jakobsen, CFO August 15th, 2017
Slide 2: Disclaimer
2 15.08.2017 Medistim ASA Q2 2017 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 15.08.2017 Medistim ASA Q2 2017 Table of contents 1. Highlights second quarter 2. Financial statements 3. Business segments update 4. Implementing the strategy
Slide 4: 1. Highlights 2nd quarter
MED (STIM 1. Highlights 2nd quarter
Slide 5: Highlights 2nd quarter 2017
5 15.08.2017 Medistim ASA Q2 2017 Highlights 2nd quarter 2017 Q2 2017 QoQ • 3.0 % increase in sales for the quarter o Currency neutral total growth is 3.8 % Revenue 3.0% o Currency neutral growth of own products is 4.7% MNOK 69.2 (67.2) o Flow probe sales negatively impacted with MNOK 5.5 due to too
Slide 6: 2. Financial statements
2. Financial statements
Slide 7: Profit and loss Q2 2017
7 15.08.2017 Medistim ASA Q2 2017 Profit and loss Q2 2017 Sales per Quarter (TNOK) Profit & loss Q2 2017 Q2 2016 2016 80 000 All numb ers in NOK 1000 Sales 69 177 67 194 268 061 70 000 Cost of goods sold 19 026 17 322 64 957 60 000 Salary and sosial expenses 19 146 18 692 89 719 50 000 Other operati
Slide 8: Profit and loss H1 2017
8 15.08.2017 Medistim ASA Q2 2017 Profit and loss H1 2017 Sales per Quarter (TNOK) Profit & loss H1 2017 H1 2016 2016 All numb ers in NOK 1000 80 000 Sales 143 537 132 694 268 061 70 000 Cost of goods sold 36 885 33 009 64 957 60 000 Salary and sosial expenses 44 563 41 088 89 719 Other operating ex
Slide 9: Balance sheet - Assets
9 15.08.2017 Medistim ASA Q2 2017 Balance sheet - Assets Balance sheet 30.06.2017 31.12.2016 All numb ers in NOK 1000 250 000 Assets 200 000 Intangible assets 48 513 51 698 150 000 Fixed assets 22 072 18 404 100 000 Total intangible and fixed assets 70 585 70 102 50 000 Inventory 62 953 59 297 - Cus
Slide 10: Balance sheet - Equity and liability
10 15.08.2017 Medistim ASA Q2 2017 Balance sheet - Equity and liability Balance sheet 30.06.2017 31.12.2016 250 000 All numb ers in NOK 1000 200 000 Share capital 4 585 4 585 Premium fund 44 172 44 172 150 000 Other equity 107 888 117 947 Total equity 156 645 166 704 100 000 Total long term debt 12
Slide 11: 3. Business segments update
3. Business segments update
Slide 12: Status production capacity of flow probes
12 15.08.2017 Medistim ASA Q2 2017 Status production capacity of flow probes 500 TTFM probes in backorder at the end of the quarter Why did the back order situation get worse in Q2? o Production capacity is a result of • # days available • # operators available • and the productivity per operato
Slide 13: Flow probes and systems in units
13 15.08.2017 Medistim ASA Q2 2017 Flow probes and systems in units Flow probes in units (excl USA) Flow systems in units (VeriQ & MiraQ) 30 2 000 1 800 25 1 600 20 1 400 Europe 1 200 15 US 1 000 10 ROW 800 5 Asia 600 400 - 200 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 - 15 15 15 15 16 16 16 16 17 17 Q2 15 Q3 1
Slide 14: Imaging probes and systems in units
14 15.08.2017 Medistim ASA Q2 2017 Imaging probes and systems in units Imaging probes in units (incl USA) Imaging systems in units (VeriQC & MiraQ) 30 40 25 35 20 30 25 15 20 10 15 10 5 5 0 - Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17
Slide 15: Q2 revenue performance by region
15 15.08.2017 Medistim ASA Q2 2017 Q2 revenue performance by region Mill NOK Q2 '17 Q2 '16 Q/Q H1 '17 H1 '16 H1/H1 2016 Europe 37,3 38,1 -2,0 % 73,5 69,8 5,3 % 136,4 USA 25,2 22,7 11,1 % 49,8 45,7 9,0 % 91,0 Asia & Jp 3,5 4,0 -14,5 % 13,1 11,2 17,0 % 24,8 ROW 3,2 2,4 35,0 % 7,2 6,1 18,3 % 15,9 (MEA,
Slide 16: Q2 revenue performance by product
16 15.08.2017 Medistim ASA Q2 2017 Q2 revenue performance by product Mill NOK Q2 '17 Q2 '16 Q/Q H1 '17 H1 '16 Y/Y 2016 Procedures (USA) 21,6 20,3 6,3 % 43,1 40,8 5,7 % 81,9 Flow probes 13,9 17,6 -21,0 % 34,9 34,8 0,2 % 70,4 Flow systems (VeriQ & MiraQ) 4,7 4,1 14,2 % 9,4 8,4 12,0 % 17,7 Imaging syst
Slide 17: 4. Implementing the strategy
4. Implementing the strategy
Slide 18: Growth opportunities – in developing Medistim markets
18 15.08.2017 Medistim ASA Q2 2017 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 19: High performance US sales organization
19 15.08.2017 Medistim ASA Q2 2017 50000 45000 40000 High performance US sales organization 35000 30000 25000 20000 2010 2011 2012 2013 2014 2015 2016 Number of procedures per year RESULTS Q2 # of Procedures per Consecutive Quarter • Revenues up by 11.1 % in NOK and USD 13 500 12 500 • Number of pro
Slide 20: Growth opportunities – Emerging markets
20 15.08.2017 Medistim ASA Q2 2017 Growth opportunities – Emerging 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.g.
Slide 21: MiraQ cleared for sale in China
21 15.08.2017 Medistim ASA Q2 2017 MiraQ cleared for sale in China • August 2017: • China represents a significant market opportunity Clearance received from the China Food and o About 50.000 CABG procedures/year Drug Administration (CFDA) for sale of MiraQ o > 30% Medistim market penetration o 5-10
Slide 22: Opportunity in China
22 15.08.2017 Medistim ASA Q2 2017 Opportunity in China • Distributor based in Hong Kong o Local support team in China o 11 local sub-distributors in China • All new tenders will be on the MiraQ platform o Growing interest for the combination of ultrasound imaging and TTFM o Tenders in process with
Slide 23: 20 largest share holders (per 10. August 2017)
23 15.08.2017 Medistim ASA Q2 2017 20 largest share holders (per 10. August 2017) Name Number of shares Shares in % Type of account Nationality INTERTRADE SHIPPING 4 003 500 21,83 NOR SALVESEN & THAMS INV 1 862 500 10,16 NOR JPMorgan Chase Bank, NORDEA TREATY ACCOUN 1 376 596 7,51 NOM GBR FOLLUM CAP
Slide 24: Seeing is believing
24 15.08.2017 Medistim ASA Q2 2017 Seeing is believing