Slide 1: Medistim ASA Fourth Quarter 2016
Medistim ASA Fourth Quarter 2016 Kari E. Krogstad, President and CEO Thomas Jakobsen, CFO February 17th, 2017
Slide 2: Disclaimer
2 17.02.2017 Medistim ASA Q4 2016 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 17.02.2017 Medistim ASA Q4 2016 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 2016
5 17.02.2017 Medistim ASA Q4 2016 Highlights fourth quarter 2016 Q4 2016 QoQ • 9.6 % or MNOK 7.2 decline in sales for the quarter, o Comparing to Q4-15, best quarter ever in Medistim o MNOK 4.6 in 3.party products is lost for the quarter Revenue -9.6 % due to the terminated Medtronic agency MNOK 67.
Slide 6: 2. Financial statements
2. Financial statements
Slide 7: Profit and loss Q4 2016
7 17.02.2017 Medistim ASA Q4 2016 Profit and loss Q4 2016 Sales per Quarter (TNOK) Profit & loss Q4 2016 Q4 2015 80 000 All numbers in NOK 1000 75 000 70 000 Sales 67 433 74 621 65 000 Cost of goods sold 16 529 20 091 60 000 Salary and sosial expenses 25 310 23 378 55 000 Other operating expenses 12
Slide 8: Profit and loss Year to date
8 17.02.2017 Medistim ASA Q4 2016 Profit and loss Year to date Profit & loss 2016 2015 Sales per Year (TNOK) 300000 All numb ers in NOK 1000 280000 260000 Sales 268 061 251 429 240000 220000 Cost of goods sold 64 957 64 653 200000 Salary and sosial expenses 89 719 79 102 180000 160000 Other operatin
Slide 9: Balance sheet - Assets
9 17.02.2017 Medistim ASA Q4 2016 Balance sheet - Assets Balance sheet 31.12.2016 31.12.2015 All numb ers in NOK 1000 250 000 Assets 200 000 150 000 Intangible assets 51 698 55 122 Fixed assets 18 404 14 158 100 000 Total intangible and fixed assets 70 102 69 280 50 000 Inventory 59 297 46 613 - Q4
Slide 10: Balance sheet - Equity and liability
10 17.02.2017 Medistim ASA Q4 2016 Balance sheet - Equity and liability 250 000 Balance sheet 31.12.2016 31.12.2015 All numb ers in NOK 1000 200 000 Share capital 4 585 4 585 150 000 Premium fund 44 172 41 852 Other equity 117 947 109 727 100 000 Total equity 166 704 156 164 50 000 Total long term d
Slide 11: 3. Business segments update
3. Business segments update
Slide 12: Flow probes and systems in units
12 17.02.2017 Medistim ASA Q4 2016 Flow probes and systems in units Flow probes in units (excl USA) Flow systems in units (VeriQ & MiraQ) 1 800 35 1 700 30 1 600 25 1 500 Europe 20 1 400 US 15 1 300 ROW 10 1 200 5 Asia 1 100 - 1 000 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 14 14 15 1
Slide 13: Imaging probes and systems in units
13 17.02.2017 Medistim ASA Q4 2016 Imaging probes and systems in units Imaging probes in units (incl USA) Imaging systems in units (VeriQC & MiraQ) 30 30 25 25 20 20 15 15 10 10 5 5 0 - Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 Q2 16 Q3 16 Q4 16 US Asi
Slide 14: Q4 revenue performance by region
14 17.02.2017 Medistim ASA Q4 2016 Q4 revenue performance by region Mill NOK Q4 '16 Q4 '15 Q/Q 2016 2015 Y/Y Europe 38,3 42,5 -9,8 % 136,4 141,7 -3,8 % USA 21,9 19,9 10,1 % 91,0 76,2 19,4 % Asia & Jp 4,7 8,1 -41,6 % 24,8 21,7 14,3 % ROW 2,5 4,2 -40,0 % 15,9 11,8 34,7 % (MEA, CAN, SA, AUS) Total 67,4
Slide 15: Q4 revenue performance by product
15 17.02.2017 Medistim ASA Q4 2016 Q4 revenue performance by product Mill NOK Q4 '16 Q4 '15 Q/Q 2016 2015 Y/Y Procedures (USA) 20,3 18,0 12,5 % 81,9 69,7 17,5 % Flow probes 17,5 19,9 -12,3 % 70,4 64,1 9,8 % Flow systems (VeriQ & MiraQ) 5,6 3,6 55,3 % 17,7 12,9 37,7 % Imaging systems (VeriQ C & MiraQ
Slide 16: 4. Implementing the strategy
4. Implementing the strategy
Slide 17: Growth opportunities – in developing Medistim markets
17 17.02.2017 Medistim ASA Q4 2016 Growth opportunities – in developing Medistim markets 1. Convert the routine Flow market to a Flow-and- Imaging market by establishing Surgical Guidance and Quality Assessment as the new standard of care through Emerging, high-growth o Early adopter & KOL support e
Slide 18: High performance US sales organization
18 17.02.2017 Medistim ASA Q4 2016 50000 45000 40000 High performance US sales organization 35000 30000 25000 20000 2010 2011 2012 2013 2014 2015 2016 Number of procedures per year RESULTS 2016 # of Procedures per Consecutive Quarter • Revenues up by 19.4 % in NOK 13 500 • 14.2 % growth in USD 12 50
Slide 19: Growth opportunities – in emerging markets
19 17.02.2017 Medistim ASA Q4 2016 Growth opportunities – in emerging markets 1. Convert the routine Flow market to a Flow-and- Imaging market by establishing Surgical Guidance and Quality Assessment as the new standard of care through Emerging, high-growth o Early adopter & KOL support economies (e
Slide 20: Launch of SonoQ™ in India
20 17.02.2017 Medistim ASA Q4 2016 Launch of SonoQ™ in India • SonoQ introduced during the International Coronary Congress in India (ICC) in November 2016 • Medistim premium products are well accepted, but price has been an issue • Large market with 150.000 coronary surgeries performed per year and
Slide 21: Addressing growth and development needs in Medistim manufacturing
21 17.02.2017 Medistim ASA Q4 2016 . Adressing growth and development needs in Medistim manufacturing Situation: Key initiatives: • Increasing volumes • Review and revision of o manufacturing processes • Increased complexity o quality procedures o MiraQ platform o monitoring and control o VeriQ / Ve
Slide 22: 20 largest share holders (per 9. February 2017)
22 17.02.2017 Medistim ASA Q4 2016 20 largest share holders (per 9. February 2017) Number of shared Shares in % Shareholder 3 850 000 21,00 INTERTRADE SHIPPING 1 862 500 10,16 SALVESEN & THAMS INV 1 023 612 5,58 JPMorgan Chase Bank, NORDEA TREATY ACCOUN 1 000 000 5,45 FOLLUM CAPITAL AS 784 155 4,28
Slide 23: Seeing is believing
23 17.02.2017 Medistim ASA Q4 2016 Seeing is believing