Medistim Asa · OSL:MEDI
Medistim Asa — Q3 2015 Earnings Presentation
31 slides from Medistim Asa's earnings presentation, Oct 23, 2015
Slide 1: Medistim ASA Third Quarter 2015
Medistim ASA Third Quarter 2015 Kari E. Krogstad, President and CEO Thomas Jakobsen, CFO October 23rd, 2015
Slide 2: Disclaimer
2 23.10.2015 Medistim ASA Q3 2015 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 23.10.2015 Medistim ASA Q3 2015 Table of contents 1. Highlights third quarter 2. Financial statements 3. Business segments update 4. Implementing the strategy
Slide 4: 1. Highlights third quarter
MED (STIM ights third quarter ighl 1. H
Slide 5: Highlights third quarter 2015
5 23.10.2015 Medistim ASA Q3 2015 Highlights third quarter 2015 Q3 2015 QoQ • Double digit growth in the third quarter o Strong development in the USA continues, with Revenue 18.5% 40.3 % revenue growth in NOK, 6.7 % in USD MNOK 61.6 (52.0) o Sale of 3.party products up 19.5 % to MNOK 17.1 EBIT 26.3
Slide 6: 2. Financial statements
2. Financial statements
Slide 7: Profit and loss Q3 2015
7 23.10.2015 Medistim ASA Q3 2015 Profit and loss Q3 2015 Profit & loss Q3 2015 Q3 2014 All numb ers in NOK 1000 Sales per Quarter (TNOK) Sales 61 646 51 999 70 000 Cost of goods sold 13 796 12 839 60 000 Salary and sosial expenses 21 347 17 930 50 000 Other operating expenses 11 175 9 156 Total ope
Slide 8: Profit and loss YTD September 2015
8 23.10.2015 Medistim ASA Q3 2015 Profit and loss YTD September 2015 Profit & loss YTD Sep 2015 YTD Sep 2014 All numb ers in NOK 1000 Sales per Quarter (TNOK) Sales 176 807 148 724 70 000 Cost of goods sold 44 562 38 143 60 000 Salary and sosial expenses 55 724 47 652 Other operating expenses 31 180
Slide 9: Balance sheet - Assets
9 23.10.2015 Medistim ASA Q3 2015 Balance sheet - Assets Balance sheet 30.09.2015 31.12.2014 250 000 All numb ers in NOK 1000 200 000 Assets Intangible assets 53 394 53 257 150 000 Fixed assets 14 804 15 276 100 000 Total intangible and fixed assets 68 198 68 533 50 000 Inventory 48 250 36 874 Custo
Slide 10: Balance sheet - Equity and liability
10 23.10.2015 Medistim ASA Q3 2015 Balance sheet - Equity and liability Balance sheet 30.09.2015 31.12.2014 250 000 All numb ers in NOK 1000 200 000 Share capital 4 585 4 585 Premium fund 41 852 41 852 150 000 Other equity 96 236 92 659 100 000 Total equity 142 673 139 096 Total long term debt 7 280
Slide 11: 3. Business segments update
3. Business segments update
Slide 12: Flow probes and systems in units
12 23.10.2015 Medistim ASA Q3 2015 Flow probes and systems in units Flow probes in units VeriQ and MiraQ systems in units 1 900 35 1 800 30 1 700 25 1 600 20 Europe 1 500 1 400 US 15 1 300 ROW 10 1 200 Asia 1 100 5 1 000 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 13 13 14 14 14 14 15
Slide 13: Imaging probes and systems in units
13 23.10.2015 Medistim ASA Q3 2015 Imaging probes and systems in units Imaging probes in units VeriQ C & MiraQ systems in units 30 25 25 20 20 15 15 10 10 5 5 0 0 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 Q3 15 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 Q3 15 VeriQC ex US VeriQC US MiraQ
Slide 14: Q3 revenue performance by region
14 23.10.2015 Medistim ASA Q3 2015 Q3 revenue performance by region Mill NOK Q3 '15 Q3 '14 Q/Q YTD 15 YTD 15 H/H Europe 34,2 29,5 16,0 % 99,2 88,9 11,6 % USA 19,8 14,1 40,3 % 56,4 39,4 43,1 % Asia & Jp 4,8 5,6 -14,4 % 13,6 13,3 1,7 % ROW 2,8 2,7 1,6 % 7,6 7,1 8,0 % (MEA, CAN, SA) Total 61,6 52,0 18,
Slide 15: Q3 revenue performance by product
15 23.10.2015 Medistim ASA Q3 2015 Q3 revenue performance by product Mill NOK Q3 '15 Q3 '14 Q/Q YTD 15 YTD 14 YTD15/YTD14 Procedures (USA) 18,4 12,3 50,4 % 51,7 34,3 50,6 % Flow probes 15,4 16,1 -4,1 % 44,2 44,4 -0,4 % Flow systems (VeriQ & MiraQ) 3,1 3,5 -12,1 % 9,2 10,4 -11,6 % Imaging systems (Ve
Slide 16: 4. Implementing the strategy
4. Implementing the strategy
Slide 17: Growth opportunities – underdeveloped markets
17 23.10.2015 Medistim ASA Q3 2015 Growth opportunities – underdeveloped markets Emerging, 1. Strengthen our position as market leader by high-growth establishing combined TTFM & Imaging as the new markets standard of care through (BRICs) o Early adopter KOL support o Easier conversion to imaging wi
Slide 18: High performance US sales organization
18 23.10.2015 Medistim ASA Q3 2015 High performance US sales organization RESULTS YTD 2015 # of Procedures per Consecutive Quarter • Revenues up by 43 % in NOK, 10.7 % in USD 11 500 10 500 • Number of procedures up by 14.9% o 12.2 % growth in flow procedures 9 500 o 45.0 % growth in imaging procedur
Slide 19: Growth opportunities – all CABG markets
19 19.08.2015 Medistim ASA Q2 2015 Growth opportunities – all CABG markets Emerging, 1. Strengthen our position as market leader by high-growth establishing combined TTFM & Imaging as the new markets standard of care through (BRICs) o Early adopter KOL support o Easier conversion to imaging with Mir
Slide 20: New, dedicated congress for coronary surgery
20 23.10.2015 Medistim ASA Q3 2015 New, dedicated congress for coronary surgery • Medistim highly profiled in the meeting • Well attended ”Lunch box” training session • Prime time exposure in the main program
Slide 21: Growth opportunities – vascular market
21 23.10.2015 Medistim ASA Q3 2015 Growth opportunities – vascular market Emerging, 1. Strengthen our position as market leader by high-growth establishing combined TTFM & Imaging as the new markets standard of care through (BRICs) o Early adopter KOL support o Easier conversion to imaging with Mira
Slide 22: MiraQ Vascular launched in Q3
22 23.10.2015 Medistim ASA Q3 2015 MiraQ Vascular Launch MiraQ Vascular launched in Q3 • Launched at the European Society of Vascular Surgery in Porto, Portugal 23-25. September • A specialized and complete product offering for vascular surgery: o MiraQ Vascular system • Application adjusted front p
Slide 23: Why perform surgical guidance and quality assessment in vascular surgery
23 23.10.2015 Medistim ASA Q3 2015 MiraQ Vascular Launch Why perform surgical guidance & quality assessment in vascular surgery Reduce risk of death & stroke Immediate feedback Improve long term graft patency Easy to use Medistim’s Improve quality of life solution Cost-effective Demonstrat
Slide 24: Surgical guidance & quality assessment in vascular surgery
24 23.10.2015 Medistim ASA Q3 2015 MiraQ Vascular Launch Surgical guidance & quality assessment in vascular surgery • Guide carotid endarterectomy (CEA) and assess for technical imperfections • Assess graft patency in peripheral bypass and evaluate anastomosis • Quantify flow for guidance during AV
Slide 25: Combining surgical guidance & quality assessment in CEA
25 23.10.2015 Medistim ASA Q3 2015 MiraQ Vascular Launch Combining surgical guidance & quality assessment in CEA Reduce risk of death & stroke Support management of cerebral hyperperfusion syndrome (CHS) Evaluate carotid morphology Assess flow … revise when needed Improve surgical outcome, demonstra
Slide 26: Vascular market potential
26 23.10.2015 Medistim ASA Q3 2015 MiraQ Vascular Launch Vascular market potential Size of key markets Applications # of procedures Clinical needs (USA, Germany, Nordic) CEA Reduce risk of death and surgery stroke >135 000 Improve cost-effectiveness Peripheral Improve long-term graft bypass patency
Slide 27: The MiraQ family completed with MiraQ Ultimate
27 23.10.2015 Medistim ASA Q3 2015 The MiraQ family completed with MiraQ Ultimate Allowing Medistim to leverage the MiraQ family’s modularity and flexibility: • Choose the application package of interest • Cardiac • Vascular • Cardiac and vascular (=ultimate) • Flexible access to imaging o Start wit
Slide 28: Growth opportunities – emerging markets
28 23.10.2015 Medistim ASA Q3 2015 Growth opportunities – emerging markets Emerging, 1. Strengthen our position as market leader by high-growth establishing combined TTFM & Imaging as the new markets standard of care through (BRICs) o Early adopter KOL support o Easier conversion to imaging with Mir
Slide 29: Medistim enters into a strategic partnership with em-tec
29 22.10.2015 Sak 39/15 Status em-tec Breaking news…. agreement signed October 22nd: Medistim enters into a strategic partnership with em-tec Under the License and OEM agreement: • Medistim obtains exclusive, eternal, world-wide • Upfront fee approx. €300,000 rights to market and sell em-tec’s trans
Slide 30: Press release October 23rd 2015
30 22.10.2015 Sak 39/15 Status em-tec Press release October 23rd 2015 • Medistim ASA enters into a strategic partnership with em-tec GmbH • (Oslo, October 22nd 2015), Medistim ASA (OSE: MEDI), a medtech company that develops and distributes surgical guidance and quality assessment devices, has enter
Slide 31: Seeing is believing
31 23.10.2015 Medistim ASA Q3 2015 Seeing is believing