Slide 1: Welcome to Medistim ASA's Interim report for second quarter and first half 2022
Welcome to Medistim ASA’s Interim report for second quarter and first half 2022 The webinar will begin shortly 1
Slide 2: Before we start
Before we start You will be kept on mute during the presentation. All questions will be answered at the end of the presentation Click on the arrow to expand or minimize your GoToMeeting panel Add any questions in the questions panel and we will answer them at the end of the presentation
Slide 3: Medistim ASA Q2 and First Half 2022
Medistim ASA Q2 and First Half 2022 August 23rd 2022 Kari E. Krogstad Thomas Jakobsen PRESIDENT & CEO CFO 3
Slide 4: Disclaimer
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 statements are based on various ass
Slide 5: Table of Contents
Table of Contents 01 ● Highlights 02 ● Financial statements 03 ● Business segments update 04 ● Implementing the strategy 5
Slide 6: Highlights
MED\(STIM @ 01 Highlights
Slide 7: Highlights 2nd Quarter
Highlights 2nd Quarter Q2 2022 QoQ Another all-time high for quarterly sales Revenue MNOK 117.5 (109.8) +7.0 % 6th quarter in a row above MNOK 100 in sales revenues o Imaging sales up 65.4 % in NOK, Flow sales at same level as last year EBIT MNOK 37.3 (42.7) -12.5 % o Vascular sales up 44.5 % in N
Slide 8: Highlights 1st Half
Highlights 1st Half H1 2022 HoH Best first half ever for revenue Revenue MNOK 233.6 (212.4) +10.0% Sales revenue grows 12.8 % in NOK to MNOK 233.6 (MNOK 207.1) when excluding the PPP grant revenue of MNOK 5.3 in first half 2021 EBIT MNOK 70.8 (71.7) -1.4% o Imaging sales up 50 %, Flow up 2.8 % in
Slide 9: Financial Statements
MED\(STIM = 02 Financial Statements
Slide 10: Profit and loss Q2 2022
Profit and loss Q2 2022 Profit & loss Q2 2022 Q2 2021 All numb ers in NOK 1000 Sales per Quarter (TNOK) 130 000 Sales revenue 117 495 104 476 120 000 110 000 Other revenue - 5 292 100 000 Total revenue 117 495 109 768 90 000 80 000 Cost of goods sold 28 141 22 637 70 000 Salary and sosial expenses 2
Slide 11: Profit and loss H1 2022
Profit and loss H1 2022 Profit & loss YTD 2022 YTD 2021 All numb ers in NOK 1000 Sales per Quarter (TNOK) 130 000 Sales revenue 233 623 207 106 120 000 Other revenue - 5 292 110 000 Total revenue 233 623 212 398 100 000 90 000 Cost of goods sold 51 823 45 438 80 000 Salary and sosial expenses 64 652
Slide 12: Balance sheet – Assets
Balance sheet 30.06.2022 31.12.2021 Balance sheet – All numb ers in NOK 1000 Assets Assets Intangible assets 35 146 33 410 Fixed assets 58 274 63 337 Total intangible and fixed assets 93 420 96 747 Cash position by end of the Inventory 104 492 97 413 quarter was MNOK 104.0 Customers receivables 79 1
Slide 13: Balance sheet – Equity and Liability
Balance sheet 30.06.2022 31.12.2021 All numb ers in NOK 1000 Balance sheet – Share capital Premium fund 4 585 44 172 4 585 44 172 Equity and Liability Other equity 260 323 257 295 Total equity 309 080 306 052 Total long term debt 17 759 19 589 No interest-bearing debt Total short term debt 70 803 77
Slide 14: Business segments update
03 Business segments update 14
Slide 15: Imaging probes and systems in units
Imaging systems in units (capital sales) 30 27 Imaging probes and 25 21 systems in units 20 ROW 15 Europe Unit sales of imaging systems Asia sold as capital equipment 10 US continue to be strong, growing 5 28.6 % this quarter 0 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Imaging probes in
Slide 16: Flow probes and systems in units
Flow probes and systems in units Flow systems in units (capital sales) 60 Number of flow systems sold as 50 40 capital equipment is up 37.9 % from 40 29 Q2 last year. Europe 30 It is Medistim’s strategy to convert USA ROW the market from Flow-only to Flow- 20 Asia and-Imaging technology. MiraQ 10 fl
Slide 17: Revenue performance by region
Revenue performance by region Mill NOK Q2 22 Q2 21 Q/Q H1 22 H1 21 H1 / H1 2021 Europe 47,5 50,4 -5,7 % 96,9 95,1 1,9 % 190,2 USA 50,5 41,4 22,1 % 99,7 76,5 30,3 % 154,1 Asia 15,9 13,8 15,0 % 29,0 33,2 -12,6 % 66,8 ROW (MEA, CAN, SA, AUS) 3,5 4,1 -14,7 % 8,0 7,6 5,3 % 16,1 Total 117,5 109,8 7,0 % 23
Slide 18: Revenue performance by product category
Revenue performance by product category Mill NOK Q2 22 Q2 21 Q/Q H1 22 H1 21 H1 / H1 2021 Procedures (USA) 35,1 28,9 21,3 % 67,5 54,8 23,2 % 111,8 Flow probes 24,8 29,0 -14,5 % 52,0 55,2 -5,8 % 115,7 Flow systems (MiraQ) 12,3 8,4 46,0 % 23,8 21,5 10,5 % 51,0 Imaging systems (MiraQ) 23,0 14,8 55,7 %
Slide 19: Covid-19: From gradually decreasing impact to strong recovery towards normalcy
Covid-19: From gradually decreasing impact to strong recovery towards normalcy Not completely back to normal Currency neutral change in sales revenues Quarter over Quarter (%) Lockdowns and restrictions in China 40 36,7*) New virus variants, new outbreaks 30,6 30 Still some hospital access res
Slide 20: Implementing the strategy
04 Implementing the strategy 20
Slide 21: Medistim growth strategy
Medistim growth strategy 1. Convert the routine Flow market to a Flow-and-Imaging market by establishing Surgical Guidance and Quality Assessment as Emerging high-growth the new standard of care through economies 3 → Early adopter & KOL support (e.g. BRIC) → REQUEST study Developing → Ease conversio
Slide 22: Developing the US market
MED\(STIM Developing the US market 22
Slide 23: Performance US sales
72 032 80000 70000 Performance US sales 60000 CAGR (2013 – 2021) = 11.04 % 50000 40000 Currency neutral sales revenue 30000 grows by 28.0 % in Q2 and 29.4 % first half 20000 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Total number of procedures was up 26.0% in Q2 Number of procedures
Slide 24: MED\(STIM
MED\(STIM 24
Slide 25: 20 largest shareholders per 19th August
20 largest shareholders per 19th August Date: 19/08/2022 Name: MEDISTIM ASA ISIN: NO0010159684 Number of investors: 1029 Number of shares: 18337336 Rank Holding Stake % Name Citizenship Type of account 1 1 862 500 10.15687 AETERNUM CAPITAL AS Norway Ordinary 2 1 285 000 7.00756 FLØTEMARKEN AS Norway
Slide 26: MED\STIM
MED\STIM