Vistin Pharma Asa · OSL:VISTN
Vistin Pharma Asa — Q4 2023 Earnings Presentation
28 slides from Vistin Pharma Asa's earnings presentation, Feb 16, 2024
Slide 1: Presentation 2023
Presentation 2023 Magnus Tolleshaug (CEO) / Alexander Karlsen (CFO) 16 February 2024
Slide 2: We believe in balance in life
We believe in balance in life. We want to grow our business but not at the expense of the environment, people’s wellbeing, or sound business principles
Slide 3: Agenda
Agenda Highlights Market overview Financial review Strategy Appendix
Slide 4: Another strong quarter with revenue of MNOK 111 and EBITDA of MNOK 25
Highlights Another strong quarter with revenue of MNOK 111 and EBITDA of MNOK 25 MNOK 111 in revenue vs. MNOK 99* in Q4 2022 (+12%) Other • Increased volume from the new production line compared to the • Net profit positively affected with approx. MNOK 7 in same quarter last year has resulted in mor
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Slide 6: Agenda
Agenda Highlights Market overview Financial review Strategy Appendix
Slide 7: 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 8: Diabetes – A global emergency
Diabetes – A global emergency
Slide 9: Metformin is the 1st-line treatment for type 2 diabetes
Metformin is the 1st-line treatment for type 2 diabetes, being cost-efficient with limited side effects An estimated 537 million adults aged 20–79 years are currently living with diabetes. This represents 10.5% of the world’s population Today Vistin deliver Metformin diabetes type 2 medication to mi
Slide 10: Total number of diabetes patients expected to rise to 783 million by 2045
Total number of diabetes patients expected to rise to 783 million by 2045 (+46%) Number of people living with diabetes / Source: International Diabetes Federation, IDF Diabetes Atlas, tenth edition, 2021
Slide 11: Vistin Pharma produces about 10% of the world's demand of metformin
Vistin Pharma produces about 10% of the world’s demand of metformin and has a world-wide sales coverage
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Slide 13: Long and successful growth track record
Financial review Long and successful growth track record Revenues Vistin Metformin (MNOK) 500 450 438 400 350 305 300 279 254 250 228 201 200 176 177 171 142 150 150 111 101 100 88 50 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2022 includes a one-time positive liquidated
Slide 14: Agenda
Agenda Highlights Market overview Financial review Strategy Appendix
Slide 15: Annual sales volume increased by 44% in 2023 from 2022
Financial review Annual sales volume increased by 44% in 2023 from 2022 Quarterly sales volume metformin (HCl & DC) Annual sales volume metformin (HCl & DC) 1600 6000 1440 1400 5000 1260 5000 1200 1200 1140 1100 1030 1030 4000 3740 1000 3480 3360 850 800 3000 600 460 2000 400 1000 200 0 0 Q4'21 Q1'2
Slide 16: Increased volume from the new production line has resulted in revenue growth
Financial review Increased volume from the new production line compared to same quarter last year has resulted in revenue growth 140 • Revenue positively affected by more volumes 120 available for sale (+11% compared to Q4’22) 120 111 101 107 • Currency neutral, revenue is flat compared to 100 92 99
Slide 17: Gross margin positively affected by economies of scale, raw material prices and FX
Financial review Gross margin positively affected by economies of scale, decreased raw material prices and favorable FX 80% • Adjusted for net positive currency effect 68% 70% 64% 63% (EURNOK & USDNOK), the gross margin is 58% 59% continuing to improve from previous quarters 60% 54% • Vistin’s ambit
Slide 18: EBITDA of MNOK 25 vs. MNOK 10 in Q4 2022, a 150% increase
Financial review EBITDA of MNOK 25 vs. MNOK 10 in Q4 2022, a 150% increase 30 27 25 25 • EBITDA positively affected by increased sales 20 20 volume, competitive energy costs and a strong 14 EUR vs NOK, partly offset by a strong USD vs 15 11,3 10 NOK. Bonus accrual of MNOK 2.9 booked in the 10 4th qu
Slide 19: Key figures: income statement
Financial review Key figures: income statement (NOK 1 000) Q4 2023 Q4 2022 FY 2023 FY 2022 Total revenue and other income Total revenue and other income 110 721 110 931 438 328 304 853 EBITDA EBITDA 25 005 22 522 85 944 6 184 EBT EBT 23 120 21 701 58 517 -6 009 Depreciation & amortisation -4 488 -3
Slide 20: Balance sheet: assets
Financial review Balance sheet Assets 31.12.2023 31.12.2022 ASSETS Non-current assets • Deferred tax asset in relation to realized Fixed assets 219 984 219 430 loss for Energy Trading in Q1 2020 Deferred tax assets 14 687 28 601 Total non-current assets 234 671 248 031 • Inventory consist approx. of
Slide 21: Balance sheet: equity and liabilities
Financial review Balance sheet Equity and liabilities 31.12.2023 31.12.2022 EQUITY AND LIABILITIES Equity Share capital 44 345 44 345 • Strong balance sheet with an equity Share premium 206 885 206 885 ratio of 81% Retained earnings 71 590 22 256 Total equity 322 819 273 486 • No interest-bearing de
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Slide 23: Agenda
Agenda Highlights Market overview Financial review Strategy Appendix
Slide 24: Double capacity double care metformin strategy
Double capacity double care metformin strategy Strategically Attractive growth A premium producer Metformin market positioned producer potential with new in a competitive expected to continue of two different production line market to grow by 5-6% metformin products: installed in 2022 annually Metfo
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Slide 26: Agenda
Agenda Highlights Market overview Financial review Strategy Appendix
Slide 27: Top 20 shareholders as of 31 December 2023
Appendix NAME SHAREHOLDING % SHARE Top 20 share- INTERTRADE SHIPPING AS* HOLMEN SPESIALFOND 12 575 000 3 842 055 28,36 % 8,66 % holders as of PACTUM AS* MP PENSJON PK 3 519 733 1 719 848 7,94 % 3,88 % 31 December FERNCLIFF LISTED DAI AS* STORKLEIVEN AS 1 234 280 751 000 2,78 % 1,69 % AUGUST RINGVOLD
Slide 28: Thank you for your attention
Thank you for your attention. www.vistin.com Magnus Tolleshaug (CEO) Alexander Karlsen (CFO) 16 February 2024