Medistim Asa · OSL:MEDI
Medistim Asa — Q4 2017 Earnings Presentation
24 slides from Medistim Asa's earnings presentation, Feb 15, 2018
Slide 1: Medistim ASA Fourth Quarter 2017
Medistim ASA Fourth Quarter 2017 Kari E. Krogstad, President and CEO Thomas Jakobsen, CFO February 15th, 2018
Slide 2: Disclaimer
2 15.02.2018 Medistim ASA Q4 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 15.02.2018 Medistim ASA Q4 2017 Table of contents 1. Highlights fourth quarter 2. Financial statements 3. Business segments update 4. Implementing the strategy
Slide 4: 1. Highlights 4th quarter
MED (STIM 1. Highlights 4th quarter
Slide 5: Highlights 4th quarter 2017
5 15.02.2018 Medistim ASA Q4 2017 Highlights 4th quarter 2017 Q4 2017 QoQ • 21.9 % increase in sales for the quarter o Currency neutral total growth is 22.3 % Revenue 21.9% o Currency neutral growth of own products is 31.3% MNOK 82.2 (67.4) o Another strong quarter for the USA with currency neutral
Slide 6: Medistim ASA Q4 2017
6 15.02.2018 Medistim ASA Q4 2017
Slide 7: 2. Financial statements
2. Financial statements
Slide 8: Profit and loss Q4 2017
8 15.02.2018 Medistim ASA Q4 2017 Profit and loss Q4 2017 Sales per Quarter (TNOK) Profit & loss Q4 2017 Q4 2016 All numb ers in NOK 1000 90 000 80 000 Sales 82 230 67 433 70 000 60 000 Cost of goods sold 20 576 16 529 50 000 Salary and sosial expenses 26 720 25 310 40 000 Other operating expenses 1
Slide 9: Profit and loss 2017
9 15.02.2018 Medistim ASA Q4 2017 Profit and loss 2017 Sales per Quarter (TNOK) Profit & loss 2017 2016 90 000 All numb ers in NOK 1000 80 000 70 000 Sales 301 461 268 061 60 000 Cost of goods sold 72 782 64 957 50 000 40 000 Salary and sosial expenses 98 281 89 719 30 000 Other operating expenses 5
Slide 10: Balance sheet - Assets
10 15.02.2018 Medistim ASA Q4 2017 Balance sheet - Assets Balance sheet 31.12.2017 31.12.2016 All numb ers in NOK 1000 300 000 Assets 250 000 Intangible assets 45 090 51 698 200 000 Fixed assets 25 744 18 404 150 000 100 000 Total intangible and fixed assets 70 834 70 102 50 000 Inventory 62 722 59
Slide 11: Balance sheet - Equity and liability
11 15.02.2018 Medistim ASA Q4 2017 Balance sheet - Equity and liability Balance sheet 31.12.2017 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 134 226 117 947 Total equity 182 983 166 704 100 000 Total long term debt 10
Slide 12: Medistim ASA Q4 2017
12 15.02.2018 Medistim ASA Q4 2017
Slide 13: 3. Business segments update
3. Business segments update
Slide 14: Flow probes and systems in units
14 15.02.2018 Medistim ASA Q4 2017 Flow probes and systems in units Flow probes in units (excl USA) Flow systems in units (VeriQ & MiraQ) 40 2 500 35 2 000 30 25 Europe 1 500 20 US 15 1 000 ROW 10 Asia 500 5 - - Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 15 1
Slide 15: Imaging probes and systems in units
15 15.02.2018 Medistim ASA Q4 2017 Imaging probes and systems in units Imaging probes in units (incl USA) Imaging systems in units (VeriQC & MiraQ) 35 30 30 25 25 20 20 15 15 10 10 5 5 - 0 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Ima
Slide 16: Q4 revenue performance by region
16 15.02.2018 Medistim ASA Q4 2017 Q4 revenue performance by region Mill NOK Q4 '17 Q4 '16 Q/Q 2017 2016 Y/Y Europe 40,0 38,3 4,4 % 150,3 136,4 10,2 % USA 27,5 21,9 25,8 % 104,6 91,0 14,9 % Asia & Jp 5,7 4,7 19,7 % 27,0 24,8 8,7 % ROW 9,0 2,5 261,3 % 19,6 15,9 23,4 % (MEA, CAN, SA, AUS) Total 82,2 6
Slide 17: Q4 revenue performance by product
17 15.02.2018 Medistim ASA Q4 2017 Q4 revenue performance by product Mill NOK Q4 '17 Q4 '16 Q/Q 2017 2016 Y/Y Procedures (USA) 21,6 20,3 6,7 % 86,0 81,9 5,0 % Flow probes 22,9 17,5 31,0 % 78,9 70,4 11,9 % Flow systems (VeriQ & MiraQ) 9,4 5,6 67,3 % 23,3 17,7 31,7 % Imaging systems (VeriQ C & MiraQ)
Slide 18: Medistim ASA Q4 2017
18 15.02.2018 Medistim ASA Q4 2017
Slide 19: 4. Implementing the strategy
4. Implementing the strategy
Slide 20: Growth opportunities – in developing Medistim markets
20 15.02.2018 Medistim ASA Q4 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 21: High performance US sales organization
21 15.02.2018 Medistim ASA Q4 2017 55000 50000 45000 High performance US sales organization 40000 35000 30000 RESULTS Q4 25000 20000 2010 2011 2012 2013 2014 2015 2016 2017 • Revenues up by 25.8 % in NOK and 27.8 % in Number of procedures per year USD # of Procedures • Number of procedures up by 7.4
Slide 22: NFR funding of new production technology development
22 15.02.2018 Medistim ASA Q4 2017 NFR funding of new production technology development • Medistim joins GE Vingmed Ultrasound and Sensocure in Project name: a collaborative project to develop new production «Advanced manufacturing technologies for high impact technology (Press release 21.11.17) med
Slide 23: 20 largest shareholders (per 9. February 2018)
23 15.02.2018 Medistim ASA Q4 2017 20 largest shareholders (per 9. February 2018) Shareholder Number of shares Shares in % 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 GBR FOLLUM CAPITAL AS 1 000
Slide 24: Seeing is believing
24 15.02.2018 Medistim ASA Q4 2017 Seeing is believing