Vistin Pharma Asa · OSL:VISTN
Vistin Pharma Asa — Q3 2022 Earnings Presentation
25 slides from Vistin Pharma Asa's earnings presentation, Oct 26, 2022
Slide 1: Third quarter presentation 2022
Kjell-Erik Nordby (CEO) / Alexander Karlsen (CFO) 26 October 2022
Slide 2: Doubling capacity to meet increasing market demand
‘’Doubling capacity to meet increasing market demand – balancing growth with sustainable operations’’
Slide 3: Agenda
Agenda Highlights Operational review Financial review MEP & Summary Appendix
Slide 4: Third quarter and YTD 2022 results
Highlights Third quarter and YTD 2022 results All-time high revenue in a quarter: MNOK 92 vs. Volume output is increasing with MEP ramp-up MNOK 63 in Q3 2021 activities and production from two manufacturing • Revenue of MNOK 92 compared to MNOK 63 in third lines quarter 2021, a 46% increase. Due to
Slide 5: Slide 5
Slide 6: We are pure play metformin company with a bright outlook
We are pure play metformin company with a bright outlook A bright outlook Diabetes Metformin for Vistin Pharma One of the largest + The gold standard = A leading global health emergencies treatment of type in the 21st century 2 diabetes producer of premium metformin • Market demand for Metformin is
Slide 7: 1st-line treatment
Operational review 1st-line treatment 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 sensitivity, leading to increased uptake of glucose in the body Most cost-efficient treatment
Slide 8: Diabetes – A global emergency
Diabetes – A global emergency
Slide 9: Number of people living with diabetes
Number of people living with diabetes / Source: International Diabetes Federation, IDF Diabetes Atlas, seventh edition, 2019
Slide 10: Vistin Pharma is a metformin player with world wide sales coverage
Vistin Pharma is a metformin player with a world wide sales coverage
Slide 11: World sales map
orld sales map Atlantic ‘Ocean, Indian Ocean South Pacific Ocean
Slide 12: Limitations in sales volume available in quarter due to MEP ramp-up
Financial review Limitations in sales volume available in quarter due to MEP volume ramp-up phase Quarterly sales volume metformin (HCl & DC) Annual sales volume metformin (HCl & DC) 1200 4000 3748 1031 1025 3360 3500 1000 956 3219 3137 900 2961 861 853 3000 2784 802 800 770 2500 2338 600 2000 460 1
Slide 13: Revenue
Financial review Revenue 100 • Revenue increase of 46% compared to 90 92 Q3’21, driven by significant increase in both volume and sales prices 80 78 71 • Ukraine situation has further increased 69 70 64 67 volatility on raw material, freight and energy 63 prices. However, some positive signs on 60 5
Slide 14: EBITDA
Financial review EBITDA • Volatility with Ukraine situation and European energy prices continues to put pressure on 20 profitability with record high electricity prices and 15 increasing raw material cost (both inflation and 15 13 13 USDNOK FX rate) 11 10 8 • Electricity costs up by approx. 500% in
Slide 15: Income statement
Financial review Income statement (NOK 1 000) Q3 2022 Q3 2021 YTD 2022 YTD 2021 FY 2021 Total revenue and income Total revenue and income 91 714 62 854 193 921 200 503 278 623 EBITDA EBITDA (2 864) 3 764 (16 338) 32 533 43 858 EBT EBT (8 595) 1 214 (27 709) 22 817 31 994 Depreciation & amortisation
Slide 16: Balance sheet
Financial review Balance sheet Assets 30.09.2022 30.09.2021 31.12.2021 • Increase in fixed asset balance driven ASSETS by MEP Non-current assets Fixed assets 195 389 162 607 167 457 Deferred tax assets 33 955 30 080 27 859 • Deferred tax asset in relation to Total non-current assets 229 344 192 687
Slide 17: Balance sheet
Financial review Balance sheet Equity and liabilities • Strong balance sheet with an 70% equity 30.09.2022 30.09.2021 31.12.2021 EQUITY AND LIABILITIES Equity ratio Share capital 44 345 44 345 44 345 Share premium 206 885 206 885 206 885 Retained earnings 2 926 16 894 24 538 • Increase in current li
Slide 18: Slide 18
Slide 19: The Manufacturing Expansion Project will increase global market share to approximately 15%
The Manufacturing Expansion Project (MEP) will increase Vistin’s global market share to approximately 15%
Slide 20: Metformin Expansion Project update
MEP & Summary Metformin Expansion Project update Operational: Financial: • Continued process optimization and MEP ramp up • High working capital requirements in Q3’22 driven by activities has improved the manufacturing capacity in raw material stock and time from production start of the quarter, res
Slide 21: Summary
MEP & Summary Summary Metformin market expected to continue to grow Vistin is strategically well positioned as many by 5-6% annually European clients prefer high quality supplies • Diabetes is one of the largest health crises of the 21 st century with short travel distances • Metformin is expected t
Slide 22: Slide 22
Slide 23: Appendix
Appendix
Slide 24: Top 20 shareholders as of 30 September 2022
Appendix Top 20 share- NAME INTERTRADE SHIPPING AS* SHAREHOLDING 12 575 000 3 519 733 % SHARE 28,4 % 7,9 % PACTUM VEKST AS* holders as of HOLMEN SPESIALFOND MP PENSJON PK 3 250 000 1 719 848 7,3 % 3,9 % 30 September FERNCLIFF LISTED DAI AS* AUGUST RINGVOLD AGENTUR AS 784 280 750 315 1,8 % 1,7 % 2022
Slide 25: Thank you for your attention
Thank you for your attention. www.vistin.com Kjell-Erik Nordby (CEO) Alexander Karlsen (CFO) www.vistin.com 19 August 2022