Medistim Asa · OSL:MEDI

Medistim Asa — Q2 2015 Earnings Presentation

25 slides from Medistim Asa's earnings presentation, Aug 19, 2015

  1. Slide 1: Medistim ASA Second Quarter 2015

    Medistim ASA Second Quarter 2015 Kari E. Krogstad, President and CEO Thomas Jakobsen, CFO August 19th, 2015

  2. Slide 2: Disclaimer

    2 19.08.2015 Medistim ASA Q2 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

  3. Slide 3: Table of contents

    3 19.08.2015 Medistim ASA Q2 2015 Table of contents 1. Highlights second quarter 2. Financial statements 3. Business segments update 4. Implementing the strategy

  4. Slide 4: 1. Highlights second quarter

    1. Highlights second quarter

  5. Slide 5: Highlights second quarter 2015

    8 19.08.2015 Medistim ASA Q2 2015 Highlights second quarter 2015 Q2 2015 QoQ • Double digit growth in the second quarter o Strong development in the USA continues, with Revenue 19.6% 40.6 % revenue growth in NOK, 8.8 % in USD MNOK 57.3 (47.9) o Sale of 3.party products up 20.9 % to MNOK 18.2 EBIT 0.

  6. Slide 6: 2. Financial statements

    2. Financial statements

  7. Slide 7: Profit and loss Q2 2015

    10 19.08.2015 Medistim ASA Q2 2015 Profit and loss Q2 2015 Profit & loss Q2 2015 Q2 2014 All numb ers in NOK 1000 Sales per Quarter (TNOK) Sales 57 254 47 868 70 000 Cost of goods sold 13 787 12 323 65 000 Salary and sosial expenses 15 513 12 947 60 000 Other operating expenses 10 365 8 855 55 000 T

  8. Slide 8: Profit and loss H1 2015

    11 19.08.2015 Medistim ASA Q2 2015 Profit and loss H1 2015 Profit & loss H1 2015 H1 2014 All numb ers in NOK 1000 Sales per Quarter (TNOK) Sales 115 161 96 725 70 000 Cost of goods sold 30 767 25 304 65 000 Salary and sosial expenses 34 377 29 722 60 000 55 000 Other operating expenses 20 005 18 699

  9. Slide 9: Balance sheet - Assets

    12 19.08.2015 Medistim ASA Q2 2015 Balance sheet - Assets Balance sheet 30.06.2015 31.12.2014 All numb ers in NOK 1000 250 000 Assets 200 000 Intangible assets 53 581 53 257 Fixed assets 15 414 15 276 150 000 Total intangible and fixed assets 68 994 68 533 100 000 Inventory 43 387 36 874 50 000 Cust

  10. Slide 10: Balance sheet - Equity and liability

    13 19.08.2015 Medistim ASA Q2 2015 Balance sheet - Equity and liability Balance sheet 30.06.2015 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 85 431 92 659 Total equity 131 868 139 096 100 000 Total long term debt 9 226

  11. Slide 11: 3. Business segments update

    3. Business segments update

  12. Slide 12: Flow probes and systems in units

    15 19.08.2015 Medistim ASA Q2 2015 Flow probes and systems in units Flow probes in units VeriQ and MiraQ systems in units 1 900 35 1 800 30 1 700 25 MiraQ 1 600 1 500 20 Europe 1 400 15 US 1 300 10 ROW 1 200 5 Asia 1 100 0 1 000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 13 13 13 13 14

  13. Slide 13: Imaging probes and systems in units

    16 19.08.2015 Medistim ASA Q2 2015 Imaging probes and systems in units Imaging probes in units VeriQ C & MiraQ systems in units 30 25 25 20 20 15 15 10 10 5 5 0 0 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q2 15 Imaging probes US imaging pro

  14. Slide 14: Q2 revenue performance by region

    17 19.08.2015 Medistim ASA Q2 2015 Q2 revenue performance by region Mill NOK Q2 '15 Q2 '14 Q/Q H1 15 H1 14 H/H Europe 31,6 27,5 15,1 % 65,0 59,4 9,4 % USA 20,5 14,6 40,6 % 36,5 25,2 44,7 % Asia & Jp 2,9 3,3 -13,2 % 8,7 7,7 13,6 % ROW 2,3 2,5 -9,3 % 4,9 4,3 12,0 % (MEA, CAN, SA) Total 57,3 47,9 19,6

  15. Slide 15: Q2 revenue performance by product

    18 19.08.2015 Medistim ASA Q2 2015 Q2 revenue performance by product Mill NOK Q2 '15 Q2 '14 Q/Q H1 15 H1 14 H15/H14 Procedures (USA) 17,9 11,7 53,1 % 33,3 22,1 50,7 % Flow probes 15,0 13,9 7,5 % 28,8 28,3 1,7 % Flow systems (VeriQ & MiraQ) 3,4 2,8 23,6 % 6,1 6,9 -11,4 % Imaging systems (VeriQ C & Mi

  16. Slide 16: 4. Implementing the strategy

    4. Implementing the strategy

  17. Slide 17: Growth opportunities – underdeveloped markets

    20 19.08.2015 Medistim ASA Q2 2015 Growth opportunities – 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 wi

  18. Slide 18: High performance US sales organization

    21 19.08.2015 Medistim ASA Q2 2015 High performance US sales organization RESULTS H1 2015 # of Procedures per Consecutive Quarter 11 500 • Revenues up by 45 % in NOK, 13 % in USD 10 500 • Number of procedures up by 12.7 % 9 500 o 41 % growth in imaging procedures 8 500 • 14 new accounts 7 500 • 6 TT

  19. Slide 19: Time to expand the US sales operations

    22 19.08.2015 Medistim ASA Q2 2015 Time to expand the US sales operations A large untapped market Time to expand • The US market represents about 1/3 of the global • Momentum is building opportunity, with 230 000 CABG procedures • Further interest expected from the REQUEST study and • Medistim has 1

  20. Slide 20: Growth opportunities – all CABG markets

    23 19.08.2015 Medistim ASA Q2 2015 Growth opportunities – all CABG 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 Mir

  21. Slide 21: The Challenge

    24 19.08.2015 Medistim ASA Q2 2015 The Challenge • Clinical outcomes in CABG continue to be dissatisfactory ”Over the next 5 years, mortality should be reduced from the current 1.9% • Early postoperative graft failure is associated with high to < 1% morbidity and mortality stroke should be reduced f

  22. Slide 22: Ultrasonic Surgical Guidance & Quality Assessment

    25 19.08.2015 Medistim ASA Q2 2015 A NEW WORKFLOW - A NEW STANDARD OF CARE Ultrasonic Surgical Guidance & Quality Assessment Optimize graft Reduce strokes Verify graft functionality…revise when needed strategy Evaluate ascending Assess graft functionality Evaluate morphology Evaluate morphology aort

  23. Slide 23: What is the study protocol? Why are these data interesting to the surgical community?

    26 19.08.2015 Medistim ASA Q2 2015 What is the study protocol? Why are these data interesting to the surgical community? • Perform ultrasound imaging of the aorta, conduit arteries • The hypothesis motivating the REQUEST registry study is in situ, compromised coronary arteries and completed that emp

  24. Slide 24: REQUEST – a prospective, multicenter registry study

    27 19.08.2015 Medistim ASA Q2 2015 • REQUEST – a prospective, multicenter registry study: • What is Medistim’s interest? o Performed by leading heart programs in Europe, o Enhance the general interest for and attention to USA and Canada: the need for improved surgical guidance and graft • Erasmus MC

  25. Slide 25: Seeing is believing

    28 19.08.2015 Medistim ASA Q2 2015 Seeing is believing

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