Medistim Asa · OSL:MEDI
Medistim Asa — Q2 2023 Earnings Presentation
27 slides from Medistim Asa's earnings presentation, Aug 31, 2023
Slide 1: Welcome to Medistim ASA's Interim report for the second quarter 2023
Welcome to Medistim ASA’s Interim report for the second quarter 2023 The webinar will begin shortly 1
Slide 2: Before we start
Before we start You will be kept on mute during the presentation. Questions will be answered at the end of the presentation. Click on the Q&A button if you prefer to write your question. The host will read and answer your question at the end of the presentation Click on the hand icon if you want to
Slide 3: Medistim ASA Q2 2023
Medistim ASA Q2 2023 August 31st 2023 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 Second best quarter ever for sales, helped by currency Q2 2023 QoQ ➢ 18.6 % increase in sales of own products in NOK o Imaging sales down 13.1 % in NOK, Flow sales up 36.5 % in NOK Revenue MNOK 137.4 (117.5) + 16.9 % o Vascular sales up 18.2 % in NOK, Cardiac sales up 18.7 % i
Slide 8: Highlights First Half 2023
Highlights First Half 2023 Strong sales first half due to favorable currency H1 2023 H1 o H1 ➢ 16.8 % increase in sales of own products in NOK Revenue MNOK 266.6 (233.6) + 14.1 % o Imaging sales down 2.5 % in NOK, Flow sales up 27.3 % in NOK o Vascular sales up 19.8 % in NOK, Cardiac sales up 16.2 %
Slide 9: Financial Statements
MED\STIM 02 Financial Statements
Slide 10: Profit and loss Q2 2023
Profit and loss Q2 2023 Sales per Quarter (TNOK) 150 000 Profit & loss Q2 2023 Q2 2022 All numb ers in NOK 1000 130 000 Sales revenue 137 386 117 495 110 000 Cost of goods sold 29 898 28 141 90 000 Salary and sosial expenses 34 200 28 241 Other operating expenses 25 564 17 973 70 000 Total operating
Slide 11: Profit and loss first half 2023
Profit and loss first half 2023 Sales per Quarter (TNOK) 150 000 Profit & loss H1 2023 H1 2022 All numbers in NOK 1000 130 000 Sales revenue 266 647 233 623 110 000 Cost of goods sold 55 798 51 823 90 000 Salary and sosial expenses 74 412 64 652 Other operating expenses 49 481 34 717 70 000 Total op
Slide 12: Balance sheet – Assets
Balance sheet 30.06.2023 31.12.2022 Balance sheet – All numb ers in NOK 1000 Assets Assets Intangible assets 44 646 39 660 Fixed assets 52 954 57 104 Cash position by end of the Total intangible and fixed assets 97 601 96 764 quarter was MNOK 90.8 after a Inventory 137 308 114 333 dividend payment o
Slide 13: Balance sheet – Equity and Liability
Balance sheet 30.06.2023 31.12.2022 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 305 184 318 934 Total equity 353 941 367 692 No interest-bearing debt Total long term debt 7 136 15 145 Total short term debt 80 859 99
Slide 14: Business segments update
03 Business segments update 14
Slide 15: Imaging probes and systems in units
Flow-and-Imaging systems in units (excl. PPP/leasing) 27 Imaging probes and 30 25 3 19 systems in units 20 6 8 15 8 9 8 15 9 15 10 8 6 8 10 12 6 2 2 9 9 9 5 7 5 8 less Flow-and-Imaging units 5 4 10 5 4 4 4 4 4 5 9 7 6 8 4 sold as capital in Q2 compared 0 2 1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 to
Slide 16: Flow probes and systems in units
Flow systems in units (excl. PPP/leasing) 60 Flow probes and 50 40 systems in units 40 10 23 10 11 36 16 11 30 11 18 10 15 11 15 20 21 29 4 less capital sales of Flow systems 16 13 24 18 19 28 18 14 8 13 13 10 in Q2, 7 more in H1 9 7 7 5 7 8 5 5 6 7 2 4 3 4 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2
Slide 17: Revenue performance by region
Revenue performance by region Mill NOK Q2 23 Q2 22 Q/Q H1 23 H1 22 H1 / H1 Explaining difference in AMERICAS 54,9 51,5 6,7 % 110,6 102,1 8,3 % units and NOK APAC 20,7 17,9 15,5 % 44,4 31,2 42,4 % Currency Sales channel EMEA 41,0 29,0 41,6 % 70,1 59,4 18,0 % • Direct • Distributor 3.party 20,7 19,1 8
Slide 18: Revenue performance by product category
Revenue performance by product category Mill NOK Q2 23 Q2 22 QoQ H1 23 H1 22 H1 o H1 Procedures (USA) 27,9 24,9 11,9 % 54,7 46,6 17,4 % Flow probes 52,7 34,3 53,9 % 96,3 69,8 38,0 % Flow systems (MiraQ) 14,6 11,5 26,0 % 27,6 23,8 16,3 % Imaging systems (MiraQ) 17,1 23,0 -25,7 % 38,6 43,8 -11,8 % Ima
Slide 19: Implementing the strategy
04 Implementing the strategy 19
Slide 20: 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 21: Developing the US market
MED\STIM Developing the US market 21
Slide 22: Performance US sales
86 030 90000 80000 CAGR (2013 – 2022) = 11.9 % Performance US sales 70000 60000 Currency neutral sales revenue declined by 50000 6.9 % in Q2 and by 5.5% for the half year – 40000 due to soft capital sales > 30 % CABG 30000 market share Total number of procedures was down 11 % in 20000 Q2 and down 2.
Slide 23: 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 24: Medistim partners with the ROMA-women trial
Medistim partners with the ROMA-women trial ClinicalTrials.gov Identifier: NCT03217006 Principal investigators: Mario Gaudino, Weill Cornell Medicine, New York Presbyterian Stephen Fremes, Synnybrook Health Science, Univ Toronto It started with the ROMA trial The ROMA-Women trial Medistim partnershi
Slide 25: MED\STIM
MED\STIM 25
Slide 26: 20 largest shareholders per 28th August
20 largest shareholders per 28th August Date: 28/08/2023 Name: MEDISTIM ASA ISIN: NO0010159684 Number of investors: 1031 Number of shares: 18337336 Name Rank Holding In % Country (post) Type of account AETERNUM CAPITAL AS 1 1 900 219 10,4 % Sweden Ordinary FLØTEMARKEN AS 2 1 285 000 7,0 % Norway Ord
Slide 27: MED\STIM
MED\STIM