Vistin Pharma Asa · OSL:VISTN
Vistin Pharma Asa — Q4 2020 Earnings Presentation
22 slides from Vistin Pharma Asa's earnings presentation, Feb 19, 2021
Slide 1: Fourth quarter and preliminary 2020 results
Vistin Pharma - Fourth quarter and preliminary 2020 results Kjell-Erik Nordby (CEO) Alexander Karlsen (CFO) 19 February 2021 1
Slide 2: Agenda
Agenda Highlights Operational review Financial review Outlook Appendix 2
Slide 3: Fourth quarter and preliminary 2020 results highlights
HIGHLIGHTS Fourth quarter and preliminary 2020 results ▪ MNOK 64.4 in revenue vs. MNOK 56.8 in Q4 2019 - Revenue positively affected by product mix and favourable EURNOK vs last year - 2020 revenue MNOK 254 compared to MNOK 228 last year, a 11% growth ▪ MNOK 13.9 in EBITDA vs. MNOK 6.8 in Q4 2019 -
Slide 4: 2018-2020 Strong revenue and EBITDA development
HIGHLIGHTS 2018-2020 Strong revenue and EBITDA development MNOK 300 *Revenue 26% 254 250 228 201 200 150 100 50 2018 2019 2020 MNOK 70 *EBITDA 58 60 50 406% 40 30 30 20 12 10 0 2018 2019 2020 *Only pharmaceuticals 4
Slide 5: Agenda
Agenda Highlights Operational review Financial review Outlook Appendix 5
Slide 6: Vistin Pharma a dedicated metformin producer with a bright outlook
OPERATIONAL REVIEW - PHARMACEUTICALS Vistin Pharma a dedicated metformin producer with a bright outlook DIABETES METFORMIN A BRIGHT OUTLOOK - - FOR VISTIN PHARMA ONE OF THE THE GOLD STANDARD - LARGEST HEALTH + TREATMENT OF TYPE = A LEADING GLOBAL EMERGENCIES IN THE 2 DIABETES PRODUCER OF 21ST CENTUR
Slide 7: Metformin will remain 1st-line treatment for type 2 diabetes in the foreseeable future
OPERATIONAL REVIEW - PHARMACEUTICALS Metformin will remain 1st-line treatment for type 2 diabetes in the foreseeable future 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 sensiti
Slide 8: Diabetes – A global emergency
OPERATIONAL REVIEW - PHARMACEUTICALS Diabetes – A global emergency Number of people living with diabetes Source International Diabetes Federation, IDF Diabetes Atlas, seventh edition, 2019 8
Slide 9: Vistin Pharma is a metformin player with a world wide sales coverage
OPERATIONAL REVIEW - PHARMACEUTICALS Vistin Pharma is a metformin player with a world wide sales coverage 9
Slide 10: Less volume available for sales in the quarter to finalize the Creep expansion project
OPERATIONAL REVIEW - PHARMACEUTICALS Less volume available for sales in the quarter to finalize the “Creep” expansion project (3800MT) Quarterly sales volume metformin (HCl & DC) ▪ Sales volume for the fourth quarter was 802MT, down 1000 930 866 873 915 by 2% vs Q4 2019 (815MT) 900 815 802 770 800 ▪
Slide 11: Corona pandemic status
OPERATION UPDATE Corona pandemic status ▪ The Fikkjebakke plant has been running at full capacity throughout the Covid-19 pandemic - Successful actions have been taken to secure the supply of critical raw materials and to build security stocks during the Covid-19 outbreak - Lack of available contain
Slide 12: Agenda
Agenda Highlights Operational review Financial review Outlook Appendix 12
Slide 13: Key quarterly figures for Vistin Pharma
FINANCIAL REVIEW Key quarterly figures for Vistin Pharma Revenue (pharmaceuticals) NOK million ▪ MNOK 7 (13%) increase in revenue YoY – driven by 80 Revenues favourable product mix and EURNOK 73 68 70 64 61 61 ▪ MNOK 26 (+11%) higher revenue in 2020 vs 2019 60 57 55 - Q1 19 was affected by an extend
Slide 14: Key quarterly figures for Vistin Pharma
FINANCIAL REVIEW Key quarterly figures for Vistin Pharma Results (pharmaceuticals) NOK million 25 EBITDA 21 ▪ EBITDA of MNOK 13.9 vs MNOK 6.8 in Q4 2019 20 14 14 ▪ Bonus accrual of MNOK 2.5 negatively affects EBITDA 15 13 12 in Q4’20 (MNOK 1 in Q4’19) 10 10 7 ▪ 2020 EBITDA increased by MNOK 28 compa
Slide 15: Consolidated income statement
FINANCIAL REVIEW Consolidated income statement (NOK 1 000) Q4 2020 Q4 2019 YTD 2020 YTD 2019 Total revenue and income Pharmaceuticals 64 421 56 767 253 905 228 129 Energy Trading - - - - HQ & other - - - - Total revenue and income 64 421 56 767 253 905 228 129 EBITDA Pharmaceuticals 13 922 6 799 58
Slide 16: Balance sheet Vistin Pharma - Assets
FINANCIAL REVIEW Balance sheet Vistin Pharm Assets NOK 1000 31.12.2020 31.12.2019 ASSETS 600 000 Non-current assets 500 000 Fixed assets 145 261 101 802 Deferred tax assets 34 882 7 733 400 000 Total non-current assets 180 144 109 535 300 000 200 000 Current assets Inventory 31 788 24 107 100 000 Tr
Slide 17: Balance sheet Vistin Pharma - Equity and liabilities
FINANCIAL REVIEW Balance sheet Vistin Pharm Equity and liabilities NOK 1000 31.12.2020 31.12.2019 EQUITY AND LIABILITIES 600 000 Equity Share capital 7 44 345 44 345 Share premium 229 056 273 402 500 000 Retained earnings (996) 95 649 Total equity 272 405 413 396 400 000 Non-current liabilities 300
Slide 18: Agenda
Agenda Highlights Operational review Financial review Outlook Appendix 18
Slide 19: Outlook
Outlook Outlook ▪ Metformin market expected to continue to grow by 5-6% annually - Diabetes is one of the largest health crises of the 21st century - Metformin is expected to maintain its position as the Gold Standard treatment for T2D in the foreseeable future ▪ Attractive growth potential from exi
Slide 20: Agenda
Agenda Highlights Operational review Financial review Outlook Appendix 20
Slide 21: Top 20 shareholders as of 31 December 2020
APPENDIX Top 20 shareholders as of 31 December 2020 NAME SHAREHOLDING % SHARE INTERTRADE SHIPPING AS* 11 075 000 24,97 % PACTUM AS* 3 414 242 7,70 % HOLMEN SPESIALFOND 3 250 000 7,33 % SAGA PURE ASA* 2 284 280 5,15 % MP PENSJON PK 1 752 913 3,95 % AUGUST RINGVOLD AGENTUR AS 697 666 1,57 % NORDNET LI
Slide 22: Thank you for your attention!
Thank you for your attention! www.vistin.com 22