Medistim Asa · OSL:MEDI
Medistim Asa — Q4 2015 Earnings Presentation
25 slides from Medistim Asa's earnings presentation, Mar 1, 2016
Slide 1: Medistim ASA Fourth Quarter 2015
Medistim ASA Fourth Quarter 2015 Kari E. Krogstad, President and CEO Thomas Jakobsen, CFO March 1st, 2016
Slide 2: Disclaimer
2 01.03.2016 Medistim ASA Q4 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 01.03.2016 Medistim ASA Q4 2015 Table of contents 1. Highlights fourth quarter 2. Financial statements 3. Business segments update 4. Implementing the strategy
Slide 4: 1. Highlights fourth quarter
1. Highlights fourth quarter
Slide 5: Highlights fourth quarter 2015
5 01.03.2016 Medistim ASA Q4 2015 Highlights forth quarter 2015 Q4 2015 QoQ • All time high sales and strong growth driven by currency in Q4 o Strong development in sales of imaging products, Revenue 12.9% up 29 % to MNOK 12.1 MNOK 74.6 (66.1) o US sales up 15.7 % to MNOK 19.9 Full year sales grows
Slide 6: 2. Financial statements
2. Financial statements
Slide 7: Profit and loss Q4 2015
7 01.03.2016 Medistim ASA Q4 2015 Profit and loss Q4 2015 Profit & loss Q4 2015 Q4 2014 All numb ers in NOK 1000 Sales per Quarter (TNOK) Sales 74 621 66 092 80 000 Cost of goods sold 20 091 17 427 70 000 Salary and sosial expenses 23 378 21 523 60 000 Other operating expenses 12 847 10 594 50 000 T
Slide 8: Profit and loss 2015
8 01.03.2016 Medistim ASA Q4 2015 Profit and loss 2015 Profit & loss 2015 2014 Sales per Year (TNOK) All numb ers in NOK 1000 280000 260000 Sales 251 429 214 817 240000 220000 Cost of goods sold 64 653 55 571 200000 180000 Salary and sosial expenses 79 102 69 175 160000 140000 Other operating expens
Slide 9: Balance sheet - Assets
9 01.03.2016 Medistim ASA Q4 2015 Balance sheet - Assets Balance sheet 31.12.2015 31.12.2014 All numb ers in NOK 1000 Assets 250 000 Intangible assets 55 122 53 257 200 000 Fixed assets 14 158 15 276 150 000 Total intangible and fixed assets 69 280 68 533 100 000 Inventory 46 613 36 874 50 000 Custo
Slide 10: Balance sheet - Equity and liability
10 01.03.2016 Medistim ASA Q4 2015 Balance sheet - Equity and liability Balance sheet 31.12.2015 31.12.2014 250 000 All numbers in NOK 1000 200 000 Share capital 4 585 4 585 Premium fund 41 852 41 852 150 000 Other equity 109 727 92 659 100 000 Total equity 156 164 139 096 Total long term debt 7 001
Slide 11: 3. Business segments update
3. Business segments update
Slide 12: Flow probes and systems in units
12 01.03.2016 Medistim ASA Q4 2015 Flow probes and systems in units Flow probes in units VeriQ and MiraQ systems in units 35 1 900 30 1 800 1 700 25 1 600 Europe 20 1 500 US 1 400 15 1 300 ROW 10 1 200 Asia 1 100 5 1 000 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 13 14 14 14 14 15 15
Slide 13: Imaging probes and systems in units
13 01.03.2016 Medistim ASA Q4 2015 Imaging probes and systems in units Imaging probes in units VeriQ C & MiraQ systems in units 30 30 25 25 20 20 15 15 10 10 5 5 0 0 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Imaging probes US imaging
Slide 14: Q4 revenue performance by region
14 01.03.2016 Medistim ASA Q4 2015 Q4 revenue performance by region Mill NOK Q4 '15 Q4 '14 Q/Q 2015 2014 Y/Y Europe 42,5 39,8 6,6 % 141,7 128,8 10,1 % USA 19,9 17,2 15,7 % 76,2 56,5 34,8 % Asia & Jp 8,1 5,4 50,9 % 21,7 18,7 15,9 % ROW 4,2 3,7 12,1 % 11,8 10,8 9,4 % (MEA, CAN, SA) Total 74,6 66,1 12,
Slide 15: Q4 revenue performance by product
15 01.03.2016 Medistim ASA Q4 2015 Q4 revenue performance by product Mill NOK Q4 '15 Q4 '14 Q/Q 2015 2014 Y/Y Procedures (USA) 18,0 14,0 28,8 % 69,7 48,3 44,3 % Flow probes 19,9 17,2 16,0 % 64,1 61,6 4,2 % Flow systems (VeriQ & MiraQ) 3,6 6,6 -44,7 % 12,9 17,0 -24,4 % Imaging systems (VeriQ C & Mira
Slide 16: 4. Implementing the strategy
4. Implementing the strategy
Slide 17: Growth opportunities – in underdeveloped markets
17 01.03.2016 Medistim ASA Q4 2015 Growth opportunities – in 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
Slide 18: High performance US sales organization
18 01.03.2016 Medistim ASA Q4 2015 45000 40000 35000 High performance US sales organization 30000 25000 20000 2010 2011 2012 2013 2014 2015 Number of procedures per year RESULTS 2015 # of Procedures per Consecutive Quarter 11 500 • Revenues up by 34.8 % in NOK, a moderate 4.6 % in USD, driven by low
Slide 19: Growth opportunities – in emerging markets
19 01.03.2016 Medistim ASA Q4 2015 Growth opportunities – in 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
Slide 20: Medistim enters into a strategic partnership with em-tec
20 01.03.2016 Medistim ASA Q4 2015 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 transit time flow measur
Slide 21: Growth opportunities – in mature markets
21 01.03.2016 Medistim ASA Q4 2015 Growth opportunities – in mature 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 Mi
Slide 22: Improve surgical outcome, demonstrate quality and increase cost efficiency
22 01.03.2016 Medistim ASA Q4 2015 A study that is documenting the clinical findings from routine use of TTFM and HF-ECUS for ultrasonic surgical guidance & quality assessment in CABG Optimize graft Reduce strokes Verify graft functionality…revise when needed strategy Evaluate ascending Evaluate mor
Slide 23: REQUEST – a prospective, multicenter registry study
23 01.03.2016 Medistim ASA Q4 2015 • REQUEST – a prospective, multicenter registry study: • Medistim’s role o Sponsoring with EUR 1 million o Performed by leading heart programs in Europe, USA and Canada: • Timelines: • Erasmus MC, Rotterdam, NL / o Study kicked off in Q2 2015 Coordinating Investiga
Slide 24: What's the big deal?
24 01.03.2016 Medistim ASA Q4 2015 WHAT’S THE BIG DEAL? • A groundbreaking study… investigating the clinical value of implementing both TTFM and HF-ECUS intraoperatively • Fight ignorance and indifference, build awareness and interest in surgical guidance and graft assessment as a means to improve
Slide 25: Seeing is believing
25 01.03.2016 Medistim ASA Q4 2015 Seeing is believing