Vistin Pharma Asa · OSL:VISTN
Vistin Pharma Asa — Q3 2020 Earnings Presentation
22 slides from Vistin Pharma Asa's earnings presentation, Oct 30, 2020
Slide 1: Vistin Pharma - Third quarter and YTD 2020
Vistin Pharma - Third quarter and YTD 2020 Kjell-Erik Nordby (CEO) Alexander Karlsen (CFO) 30 October 2020 1
Slide 2: Agenda
Agenda Highlights Operational review - pharmaceuticals Financial review Outlook Appendix 2
Slide 3: Highlights: Third quarter and YTD 2020
HIGHLIGHTS Third quarter and YTD 2020 ▪ MNOK 55 in revenue vs. MNOK 68 in Q3 2019 - Less volume available for sale due to a planned production stop for installation of a new 2nd reactor - The 2nd reactor will further increase the annual capacity by approx. 300MT - MNOK 189 in revenue YTD 2020 compar
Slide 4: 2018-2020 Strong revenue and EBITDA development
HIGHLIGHTS 2018-2020 Strong revenue and EBITDA development MNOK *Revenue YTD 210 18% 189 190 171 170 160 150 130 110 90 70 50 1-3Q 2018 1-3Q 2019 1-3Q 2020 MNOK 50,0 *EBITDA YTD 44,3 45,0 40,0 173% 35,0 30,0 23,6 25,0 20,0 16,2 15,0 10,0 5,0 0,0 1-3Q 2018 1-3Q 2019 1-3Q 2020 *Only pharmaceuticals 4
Slide 5: Agenda
Agenda Highlights Operational review - pharmaceuticals 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
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 geographical sales 2020 (MT)
OPERATIONAL REVIEW - PHARMACEUTICALS Vistin Pharma geographical sales 2020 (MT) Metformin HCl DC 9
Slide 10: Investment in long term capacity expansion lead to less volume available for sale
OPERATIONAL REVIEW - PHARMACEUTICALS Investment in long term capacity expansion lead to less volume available for sale in quarter vs. last year Quarterly sales volume metformin (HCl & DC) ▪ Sales volume for the third quarter was 770MT, down 1000 930 873 915 by 17.2% vs Q3 2019 (930MT) 900 866 813 81
Slide 11: Corona virus epidemic consequences
OPERATION UPDATE Corona virus epidemic consequences ▪ 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 ▪ There are no
Slide 12: Agenda
Agenda Highlights Operational review - pharmaceuticals 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 Revenues 80 73 ▪ MNOK 13 (-19%) decrease in revenue YoY – driven by 70 68 less volume available for sale 61 61 60 53 57 55 ▪ MNOK 18 (+11%) higher revenue in 1-3Q 2020 vs 1-3Q 50 2019 41 42 - Q1 19 was aff
Slide 14: Key quarterly figures for Vistin Pharma
FINANCIAL REVIEW Key quarterly figures for Vistin Pharma Results (pharmaceuticals) NOK million 25 EBITDA 20,9 ▪ EBITDA of MNOK 9.5 vs MNOK 11.8 in Q3 2019 20 14,2 ▪ Bonus accrual of MNOK 2 negatively affect numbers 15 13,3 11,8 in Q3’20 9,5 10 6,8 ▪ 1-3Q 2020 EBITDA increased by MNOK 20.7 vs 1-3Q 5
Slide 15: Consolidated income statement
FINANCIAL REVIEW Consolidated income statement (NOK 1 000) Q3 2020 Q3 2019 YTD 2020 YTD 2019 FY 2019 Total revenue and income Pharmaceuticals 55 056 68 025 189 484 171 362 228 130 Energy Trading - - - - - HQ & other - - - - - Total revenue and income 55 056 68 025 189 484 171 362 228 130 EBITDA Phar
Slide 16: Balance sheet Vistin Pharma: Assets
FINANCIAL REVIEW Balance sheet Vistin Pharm Assets NOK 1000 30.09.2020 30.09.2019 31.12.2019 600 000 ASSETS Non-current assets 500 000 Fixed assets 117 925 100 825 101 802 Deferred tax assets 33 726 6 195 7 733 400 000 Total non-current assets 151 651 107 020 109 535 300 000 Current assets 200 000 I
Slide 17: Balance sheet Vistin Pharma: Equity and liabilities
FINANCIAL REVIEW Balance sheet Vistin Pharm Equity and liabilities NOK 1000 30.09.2020 30.09.2019 31.12.2019 600 000 EQUITY AND LIABILITIES Equity Share capital 44 345 44 345 44 345 500 000 Share premium 229 056 273 402 273 401 Retained earnings (9 918) 90 377 95 649 400 000 Total equity 263 484 408
Slide 18: Agenda
Agenda Highlights Operational review - pharmaceuticals 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 - pharmaceuticals Financial review Outlook Appendix 20
Slide 21: Top 20 shareholders as of 30 September 2020
APPENDIX Top 20 shareholders as of 30 September 2020 NAME SHAREHOLDING % SHARE INTERTRADE SHIPPING AS* 10 926 539 24,64 % PACTUM AS* 3 446 074 7,77 % HOLMEN SPESIALFOND 3 250 000 7,33 % SAGA TANKERS ASA* 2 284 280 5,15 % MP PENSJON PK 1 752 913 3,95 % NORDNET LIVSFORSIKRING AS 710 034 1,60 % AUGUST
Slide 22: Thank you for your attention!
Thank you for your attention! www.vistin.com 22