Vistin Pharma Asa · OSL:VISTN
Vistin Pharma Asa — Q4 2021 Earnings Presentation
22 slides from Vistin Pharma Asa's earnings presentation, Feb 17, 2022
Slide 1: Vistin Pharma – Fourth quarter and preliminary 2021 results
Vistin Pharma – Fourth quarter and preliminary 2021 results Alexander Karlsen (CFO) Magnus Tolleshaug (CCO) 17 February 2022 1
Slide 2: Agenda
Agenda Highlights Operational review Financial review MEP & Summary Appendix 2
Slide 3: Fourth quarter and preliminary 2021 results
HIGHLIGHTS Fourth quarter and preliminary 2021 results ▪ MNOK 78 in revenue vs. MNOK 64 in Q4 2020, a 21% increase - Revenue increase driven by higher sales volume and sales prices, partly offset by a significant stronger NOK vs EUR - MNOK 279 in 2021 revenue compared to MNOK 254 last year, a 10% gr
Slide 4: 2019-2021 Strong revenue and EBITDA development
HIGHLIGHTS 2019-2021 Strong revenue and EBITDA development MNOK *Revenues YTD 22% 300 279 254 250 228 200 150 100 50 406% 0 2019 2020 2021 MNOK 70 *EBITDA YTD 58 61% 60 49 50 40 30 30 20 10 0 2019 2020 2021 4 *Only pharmaceuticals
Slide 5: Agenda
Agenda Highlights Operational review Financial review MEP & Summary 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: Record high sales volume in quarter (+29%) and for 2021 (+12%)
OPERATIONAL REVIEW - PHARMACEUTICALS Record high sales volume in quarter (+29%) and for 2021 (+12%) Quarterly sales volume metformin (HCl & DC) ▪ Record high sales volume in the quarter of 1 031MT, 1200 up by 29% vs Q4 2020 (802MT) 1031 1000 915 900 956 ▪ 2021 had an all-time high sales volume of 3
Slide 11: Agenda
Agenda Highlights Operational review Financial review MEP & Summary Appendix 11
Slide 12: Key quarterly figures for Vistin Pharma
FINANCIAL REVIEW Key quarterly figures for Vistin Pharma Revenue – All time high quarterly sales in Q4 NOK million Revenues ▪ MNOK 14 and 21% increase in revenue YoY – driven by 90 increased sales volume and increased ASP, partly offset 78 80 73 71 by significantly stronger NOK vs EURO 70 67 64 63 5
Slide 13: Key quarterly figures for Vistin Pharma
FINANCIAL REVIEW Key quarterly figures for Vistin Pharma Results (pharmaceuticals) NOK million 25 EBITDA ▪ EBITDA of MNOK 12.2 vs MNOK 13.9 in Q4 2020, a 21 decrease of 12% 20 16 16 ▪ Bonus accrual of MNOK 4 negatively affects EBITDA in 15 14 14 Q4’21 (MNOK 2.5 in Q4’20) 12 10 10 ▪ Energy costs incr
Slide 14: Consolidated income statement
FINANCIAL REVIEW Consolidated income statement (NOK 1 000) Q4 2021 Q4 2020 YTD 2021 YTD 2020 Total revenue and income Pharmaceuticals 78 119 64 421 278 623 253 905 Energy Trading - - - - HQ & other - - - - Total revenue and income 78 119 64 421 278 623 253 905 EBITDA Pharmaceuticals 12 151 13 922 48
Slide 15: Balance sheet Vistin Pharma
FINANCIAL REVIEW Balance sheet Vistin Pharm Assets NOK 1000 31.12.2021 31.12.2020 ASSETS 350 000 Non-current assets 300 000 Fixed assets 167 457 145 261 250 000 Deferred tax assets 27 890 35 128 200 000 Total non-current assets 195 348 180 389 150 000 Current assets 100 000 Inventory 42 907 31 788 5
Slide 16: Balance sheet Vistin Pharma
FINANCIAL REVIEW Balance sheet Vistin Pharm Equity and liabilities NOK 1000 31.12.2021 31.12.2020 EQUITY AND LIABILITIES 350 000 Equity 300 000 Share capital 44 345 44 345 Share premium 206 885 229 056 250 000 Retained earnings 24 657 (996) 200 000 Total equity 275 887 272 405 150 000 Non-current li
Slide 17: Agenda
Agenda Highlights Operational review Financial review MEP & Summary Appendix 17
Slide 18: Metformin Expansion Project update
Summary Metformin Expansion Project update Operational: ▪ Production closed down 1st week of January as planned ▪ Line #1 successfully resumed normal production second week of February ▪ First commercial batch from Line #2 expected to be shipped out of Plant in Q2 ▪ 2022 Production target: 5000 MT F
Slide 19: Summary
Summary Summary ▪ 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 to be re
Slide 20: Agenda
Agenda Highlights Operational review Financial review MEP & Summary Appendix 20
Slide 21: Top shareholders as of December 2021
APPENDIX Top 20 shareholders as of 31 December 2021 NAME SHAREHOLDING % SHARE INTERTRADE SHIPPING AS* 12 575 000 28,4 % PACTUM AS* 3 519 733 7,9 % HOLMEN SPESIALFOND 3 250 000 7,3 % MP PENSJON PK 1 719 848 3,9 % TIGERSTADEN AS 850 000 1,9 % FERNCLIFF LISTED DAI AS* 784 280 1,8 % AUGUST RINGVOLD AGEN
Slide 22: Thank you for your attention!
Thank you for your attention! www.vistin.com 22