Slide 1: Welcome to Medistim ASA's Interim report for the third quarter 2023
Welcome to Medistim ASA’s Interim report for the third quarter 2023 The webinar will begin shortly 1
Slide 2: Before we start
Before we start You will be kept on mute during the presentation. Questions will be answered at the end of the presentation. Click on the Q&A button to write your question. The host will read and answer your question at the end of the presentation
Slide 3: Medistim ASA Q3 2023
Medistim ASA Q3 2023 October 27th 2023 Kari E. Krogstad Thomas Jakobsen PRESIDENT & CEO CFO 3
Slide 4: Disclaimer
Disclaimer The information included in this Presentation may contain 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 statements are based on various
Slide 5: Table of Contents
Table of Contents 01 ● Highlights 02 ● Financial statements 03 ● Business segments update 04 ● Implementing the strategy 5
Slide 6: Highlights
MED(STIM @ 01 Highlights
Slide 7: Highlights 3rd Quarter
Highlights 3rd Quarter Q3 2023 QoQ Solid financial results, helped by favorable currency Own products sales increase by 5.4 % in NOK Revenue MNOK 124.1 (116.5) + 6.5 % o Imaging sales up 8.1 % in NOK, Flow sales up 3.9 % in NOK EBIT MNOK 33.5 (34.0) - 1.5 % o Vascular sales up 7.7 % in NOK, Cardia
Slide 8: Highlights YTD September 2023
Highlights YTD September 2023 YTD 2023 YTD o YTD Strong financial results, helped by favorable currency Revenue MNOK 390.7 (350.1) + 11.6 % Own products sales increase by 12.9 % in NOK o Imaging sales up 0.3 % in NOK, Flow sales up 19.7 % in NOK EBIT MNOK 109.2 (104.8) + 4.2 % o Vascular sales up
Slide 9: Financial Statements
MED(STIM O02 Financial Statements
Slide 10: Profit and loss Q3 2023
Profit and loss Q3 2023 Profit & loss Q3 2023 Q3 2022 Sales per Quarter (TNOK) 150 000 All numb ers in NOK 1000 130 000 Sales revenue 124 098 116 490 110 000 Cost of goods sold 22 350 21 892 90 000 Salary and sosial expenses 42 145 38 927 70 000 Other operating expenses 20 758 15 973 50 000 Total op
Slide 11: Profit and loss YTD September 2023
Profit and loss YTD September 2023 Profit & loss YTD 30.09.23 YTD 30.09.22 Sales per Quarter (TNOK) 150 000 All numb ers in NOK 1000 130 000 Sales revenue 390 745 350 114 110 000 Cost of goods sold 78 149 73 714 90 000 Salary and sosial expenses 116 557 103 579 70 000 Other operating expenses 70 239
Slide 12: Balance sheet – Assets
Balance sheet 30.09.2023 31.12.2022 Balance sheet – All numb ers in NOK 1000 Assets Assets Intangible assets 47 578 39 660 Fixed assets 54 014 57 104 Cash position by end of the Total intangible and fixed assets 101 592 96 764 quarter was MNOK 126.4 after a Inventory 145 927 114 333 dividend payment
Slide 13: Balance sheet – Equity and Liability
Balance sheet 30.09.2023 31.12.2022 All numb ers in NOK 1000 Balance sheet – Share capital Premium fund 4 585 44 172 4 585 44 172 Equity and Liability Other equity 329 510 318 934 Total equity 378 267 367 692 No interest-bearing debt Total long term debt 4 372 15 145 Total short term debt 92 258 99
Slide 14: Business segments update
03 Business segments update 14
Slide 15: Imaging probes and systems in units
Flow-and-Imaging systems in units (excl. PPP/leasing) 28 Imaging probes and 30 25 3 22 systems in units 20 6 8 15 8 15 9 8 9 15 15 8 6 8 10 6 more Flow-and-Imaging units 12 10 2 9 9 9 6 7 7 sold as capital in Q3 compared 5 5 5 4 10 9 7 8 to Q3 LY: 4 5 6 6 4 4 4 4 4 1 0 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21
Slide 16: Flow probes and systems in units
Flow probes and Flow systems in units (excl. PPP/leasing) systems in units 60 50 35 10 less capital sales of Flow systems 40 23 10 11 10 25 in Q3, with APAC down 7. 30 16 17 11 10 11 15 15 3 less YTD September 20 21 24 18 28 29 18 17 13 19 10 14 8 13 12 9 5 7 5 4 7 8 5 5 6 4 7 0 2 3 3 The total sale
Slide 17: Revenue performance by region
Revenue performance by region Mill NOK Q3 23 Q3 22 Q/Q YTD 23 YTD 22 YTD / YTD Explaining difference in AMERICAS 51,7 51,8 -0,3 % 162,2 153,9 5,4 % units and NOK APAC 9,8 19,2 -48,8 % 54,3 50,4 7,6 % Currency Sales EMEA 45,1 30,1 49,8 % 115,3 89,6 28,7 % channel • Direct 3.party 17,5 15,3 13,9 % 59,
Slide 18: Revenue performance by product category
Revenue performance by product category Mill NOK Q3 23 Q3 22 QoQ YTD 23 YTD 22 YTD o YTD Procedures (USA) 25,3 24,5 3,5 % 80,0 71,0 12,6 % Flow probes 39,7 37,8 5,0 % 136,0 107,6 26,4 % Flow systems (MiraQ) 12,0 12,0 0,1 % 40,5 35,7 13,2 % Imaging systems (MiraQ) 24,9 22,3 11,6 % 63,5 66,1 -3,9 % Im
Slide 19: Implementing the strategy
04 Implementing the strategy 19
Slide 20: Medistim growth strategy
Medistim growth strategy 1. Convert the routine Flow market to a Flow-and-Imaging market by establishing Surgical Guidance and Quality Assessment as Emerging high-growth the new standard of care through economies 3 → Early adopter & KOL support (e.g. BRIC) → REQUEST study Developing → Ease conversio
Slide 21: Developing the US market
MED(STIM Developing the US market 21
Slide 22: Performance US sales
86 030 90000 80000 CAGR (2013 – 2022) = 11.9 % Performance US sales 70000 60000 Currency neutral sales revenue declined by 50000 -10.3 % in Q3 and by -5.2 % YTD in AMERICAS 40000 due to soft capital sales in the USA > 30 % CABG 30000 market share 20000 Total number of procedures was flat in Q3 and d
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23
Slide 24: 20 largest shareholders per 24th of October
20 largest shareholders per 24th of October Name: MEDISTIM ASA ISIN: NO0010159684 Number of investors: 1043 Number of shares: 18.337.336 Name Rank Holding In % Country Citizenship Type of account AETERNUM CAPITAL AS 1 1 900 219 10,36 % Sweden Norway Ordinary State Street Bank and Trust Comp 2 1 286
Slide 25: Medistim
MEDI\STIM