Medistim Asa · OSL:MEDI

Medistim Asa — Q1 2015 Earnings Presentation

21 slides from Medistim Asa's earnings presentation, Apr 24, 2015

  1. Slide 1: Medistim ASA First Quarter 2015

    Medistim ASA First Quarter 2015 Kari E. Krogstad, President and CEO Thomas Jakobsen, CFO April 24th, 2015

  2. Slide 2: Disclaimer

    2 24.04.2015 Medistim ASA Q1 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 24.04.2015 Medistim ASA Q1 2015 Table of contents 1. Highlights first quarter 2. Financial statements 3. Business segments update 4. Implementing the strategy

  4. Slide 4: 1. Highlights first quarter

    MED (STIM ights first quarter ighl 1. H

  5. Slide 5: Highlights first quarter 2015

    5 24.04.2015 Medistim ASA Q1 2015 Highlights first quarter 2015 Q1 2015 QoQ • Double digit growth in the first quarter Revenue 18.5% o Strong development in the USA continues, with MNOK 57.9 (48.9) 50 % revenue growth in NOK, 18.9 % in USD o Sale of 3.party products up 22.9 % to MNOK 19.8 o Imaging

  6. Slide 6: 2. Financial statements

    2. Financial statements

  7. Slide 7: Profit and loss Q1 2015

    7 24.04.2015 Medistim ASA Q1 2015 Profit and loss Q1 2015 Profit & loss Q1 2015 Q1 2014 All numb ers in NOK 1000 Sales per Quarter (TNOK) Sales 57 907 48 857 70 000 Cost of goods sold 16 979 12 982 60 000 Salary and sosial expenses 18 864 16 775 Other operating expenses 9 640 9 843 50 000 Total oper

  8. Slide 8: Balance sheet - Assets

    8 24.04.2015 Medistim ASA Q1 2015 Balance sheet - Assets Balance sheet 31.03.2015 31.12.2014 All numb ers in NOK 1000 250 000 Assets 200 000 Intangible assets 53 123 53 257 150 000 Fixed assets 15 094 15 276 100 000 Total intangible and fixed assets 68 217 68 533 50 000 Inventory 38 943 36 874 - Cus

  9. Slide 9: Balance sheet - Equity and liability

    9 24.04.2015 Medistim ASA Q1 2015 Balance sheet - Equity and liability 250 000 Balance sheet 31.03.2015 31.12.2014 All numb ers in NOK 1000 200 000 Share capital 4 585 4 585 150 000 Premium fund 41 852 41 852 100 000 Other equity 99 594 92 659 Total equity 146 031 139 096 50 000 Total long term debt

  10. Slide 10: 3. Business segments update

    3. Business segments update

  11. Slide 11: Flow probes and systems in units

    11 24.04.2015 Medistim ASA Q1 2015 Flow probes and systems in units Flow probes in units VeriQ and MiraQ systems in units 1 900 35 1 800 1 700 30 1 600 25 1 500 MiraQ 20 1 400 Europe 1 300 15 US 1 200 10 ROW 1 100 Asia 5 1 000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 0 13 13 13 13 14 14 14 14 15 Q4 Q1 Q2 Q3 Q4 Q1

  12. Slide 12: Imaging probes and systems in units

    12 24.04.2015 Medistim ASA Q1 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 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 VeriQC ex US VeriQC US MiraQ

  13. Slide 13: Q1 revenue performance by region

    13 24.04.2015 Medistim ASA Q1 2015 Q1 revenue performance by region Mill NOK Q1 '15 Q1 '14 Q/Q 2014 Europe 33,4 31,9 4,5 % 128,8 USA 16,1 10,7 50,4 % 56,5 Asia & Jp 5,9 4,4 33,8 % 18,7 ROW 2,6 1,9 40,4 % 10,8 (MEA, CAN, SA) Total 57,9 48,9 18,5 % 214,8 • In Europe, there was strong development in sa

  14. Slide 14: Q1 revenue performance by product

    14 24.04.2015 Medistim ASA Q1 2015 Q1 revenue performance by product Mill NOK Q1 '15 Q1 '14 Q/Q 2014 Procedures (USA) 15,4 10,4 48,1 % 48,3 Flow probes 13,8 14,4 -3,9 % 61,6 Flow systems (VeriQ & MiraQ) 2,7 4,1 -34,9 % 17,0 Imaging systems (VeriQ C & MiraQ) 4,6 3,1 48,9 % 19,8 Imaging probes 0,9 0,5

  15. Slide 15: 4. Implementing the strategy

    4. Implementing the strategy

  16. Slide 16: Back on track in the USA

    16 24.04.2015 Medistim ASA Q1 2015 Back on track in the USA RESULTS Q1 2015 # of Procedures per Consecutive Quarter 10 500 • Revenues up by 50.4 % in NOK, 10 000 18.9 % in USD 9 500 • Number of procedures up by 12.2 % 9 000 8 500 • 159 % growth in imaging procedures 8 000 7 500 • 1 imaging capital s

  17. Slide 17: Growth opportunities – emerging markets

    17 24.04.2015 Medistim ASA Q1 2015 Growth opportunities – emerging 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

  18. Slide 18: VeriQ C cleared for sale in China

    18 24.04.2015 Medistim ASA Q1 2015 VeriQ C cleared for sale in China • February 2015: • China represents a significant market opportunity Clearance received from the China Food and o ≈35.000 CABG procedures/year Drug Administration (CFDA) for sale of VeriQ C o ≈30% Medistim marekt share o ≈10 % annu

  19. Slide 19: Opportunity in China

    19 24.04.2015 Medistim ASA Q1 2015 Opportunity in China • Distributor based in Hong Kong o Local support team in China o 11 local sub-distributors in China • Prelaunch at the Chinese national cardiovascular surgery meeting late 2014 o Growing interest for the combination of ultrasound imaging and TT

  20. Slide 20: Medtronic distribution agreement not renewed

    20 24.04.2015 Medistim ASA Q1 2015 Medtronic distribution agreement not renewed • Medistim has distributed Medtronic’s products within neuro- and ENT surgery for more than 10 years • Current distribution agreement ends April 30th • Medtronic will take over distribution of these products in the Norwe

  21. Slide 21: Seeing is believing

    21 24.04.2015 Medistim ASA Q1 2015 Seeing is believing

Medistim — Q1 2015 Earnings Presentation on 6ix