Medistim Asa · OSL:MEDI
Medistim Asa — Q2 2018 Earnings Presentation
23 slides from Medistim Asa's earnings presentation, Aug 15, 2018
Slide 1: Medistim ASA Second quarter and first half 2018
Medistim ASA Second quarter and first half 2018 Kari E. Krogstad, President and CEO Thomas Jakobsen, CFO August 15th, 2018
Slide 2: Disclaimer
2 15.08.2018 Medistim ASA Q2 2018 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 15.08.2018 Medistim ASA Q2 2018 Table of contents 1. Highlights second quarter 2. Financial statements 3. Business segments update 4. Implementing the strategy
Slide 4: 1. Highlights 2nd quarter
MED (STIM 1. Highlights 2nd quarter
Slide 5: Highlights 2nd quarter 2018
5 15.08.2018 Medistim ASA Q2 2018 Highlights 2nd quarter 2018 Q2 2018 QoQ • Back on track after a flat first quarter, Sales for the second quarter increased with 10.2 % in NOK Revenue 10.2% o Currency neutral total sales up 10.4 % MNOK 76.2 (69.2) o Currency neutral sales of own products up 19.3 % o
Slide 6: 2. Financial statements
2. Financial statements
Slide 7: Profit and loss Q2 2018
7 15.08.2018 Medistim ASA Q2 2018 Profit and loss Q2 2018 Sales per Quarter (TNOK) Profit & loss Q2 2018 Q2 2017 90 000 All numb ers in NOK 1000 80 000 Sales 76 221 69 177 70 000 Cost of goods sold 18 606 19 026 60 000 Salary and sosial expenses 20 832 19 146 50 000 Other operating expenses 15 474 1
Slide 8: Profit and loss H1 2018
8 15.08.2018 Medistim ASA Q2 2018 Profit and loss H1 2018 Sales per Quarter (TNOK) Profit & loss H1 2018 H1 2017 90 000 All numb ers in NOK 1000 80 000 Sales 150 354 143 537 70 000 Cost of goods sold 36 861 36 885 60 000 Salary and sosial expenses 47 616 44 563 50 000 Other operating expenses 27 993
Slide 9: Balance sheet - Assets
9 15.08.2018 Medistim ASA Q2 2018 Balance sheet - Assets Balance sheet 30.06.2018 31.12.2017 All numb ers in NOK 1000 300 000 Assets 250 000 Intangible assets 43 590 45 090 200 000 Fixed assets 27 040 25 744 150 000 Total intangible and fixed assets 70 630 70 834 100 000 Inventory 62 691 62 722 50 0
Slide 10: Balance sheet - Equity and liability
10 15.08.2018 Medistim ASA Q2 2018 Balance sheet - Equity and liability Balance sheet 30.06.2018 31.12.2017 300 000 All numb ers in NOK 1000 250 000 Share capital 4 585 4 585 200 000 Premium fund 44 172 44 172 150 000 Other equity 119 873 134 226 Total equity 168 630 182 983 100 000 Total long term
Slide 11: 3. Business segments update
3. Business segments update
Slide 12: Flow probes and systems in units
12 15.08.2018 Medistim ASA Q2 2018 Flow probes and systems in units Flow probes in units (excl USA) Flow systems in units (VeriQ & MiraQ capital sales) 2 500 40 35 2 000 30 1 500 25 Europe 20 US 1 000 15 ROW 500 10 Asia 5 - - Q2 16Q3 16Q4 16Q1 17Q2 17Q3 17Q4 17Q1 18Q2 18 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q
Slide 13: Imaging probes and systems in units
13 15.08.2018 Medistim ASA Q2 2018 Imaging probes and systems in units Imaging probes in units (incl USA) Imaging systems in units (VeriQC & MiraQ capital sales) 35 20 30 18 25 16 20 14 12 ROW 15 10 Europe 10 8 Asia 5 6 US - Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 4 2 Imaging probes US
Slide 14: Q2 and H1 revenue performance by region
14 15.08.2018 Medistim ASA Q2 2018 Q2 and H1 revenue performance by region Mill NOK Q2 '18 Q2 '17 Q/Q H1 18 H1 17 Y/Y 2017 Europe 38,3 37,3 2,7 % 78,5 73,5 6,8 % 150,3 USA 23,9 25,2 -5,3 % 46,9 49,8 -5,8 % 104,6 Asia & Jp 9,4 3,5 171,1 % 17,8 13,1 36,2 % 27,0 ROW 4,7 3,2 45,9 % (MEA, CAN, SA, AUS) 7
Slide 15: Q2 and H1 revenue performance by product
15 15.08.2018 Medistim ASA Q2 2018 Q2 and H1 revenue performance by product Mill NOK Q2 '18 Q2 '17 Q/Q H1 2018 H1 2017 Y/Y 2017 Procedures (USA) 21,6 21,6 0,1 % 41,2 43,1 -4,4 % 86,0 Flow probes 21,4 13,9 53,5 % 41,8 34,8 20,1 % 78,9 Flow systems (VeriQ & MiraQ) 7,0 4,7 50,4 % 13,8 9,4 45,9 % 23,3 I
Slide 16: 4. Implementing the strategy
4. Implementing the strategy
Slide 17: Growth opportunities – in developing Medistim markets
17 15.08.2018 Medistim ASA Q2 2018 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: Performance US sales organization
18 15.08.2018 Medistim ASA Q2 2018 55000 50000 45000 Performance US sales organization 40000 35000 30000 25000 RESULTS H1 20000 2010 2011 2012 2013 2014 2015 2016 2017 • Revenues up 1 % in USD Number of procedures per year o Revenues down 5.8 % in NOK, to MNOK 46.9 o Currency has a negative 6.8 % im
Slide 19: Growth opportunities – in developed Medistim markets
19 15.08.2018 Medistim ASA Q2 2018 Growth opportunities – in developed 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 ec
Slide 20: Presentation of the first findings from the REQUEST register study
20 15.08.2018 Medistim ASA Q2 2018 Presentation of the first findings from the REQUEST register study
Slide 21: Presentation of the first findings from the REQUEST register study
21 15.08.2018 Medistim ASA Q2 2018 Presentation of the first findings from the REQUEST register study • All 1.000 patients are now included in the study • The first findings from the study were presented at o The American Association for Thoracic Surgery (AATS) conference taking place in San Diego o
Slide 22: 20 largest shareholders (per August 8th 2018)
22 15.08.2018 Medistim ASA Q2 2018 20 largest shareholders (per August 8th 2018) Shareholder Number of shares Shares in % Nationality INTERTRADE SHIPPING 4 003 500 21,83 NOR SALVESEN & THAMS INV 1 862 500 10,16 NOR JPMorgan Chase Bank, NORDEA TREATY ACCOUN 1 375 246 7,50 GBR Skandinaviska Enskil A/C
Slide 23: Seeing is believing
23 15.08.2018 Medistim ASA Q2 2018 Seeing is believing