Medistim ASA · OSL:MEDI
Medistim ASA — Q2 2014 Earnings Presentation
19 slides from Medistim ASA's earnings presentation, Aug 20, 2014
Slide 1: Medistim ASA Second Quarter 2014
Medistim ASA Second Quarter 2014 Kari E. Krogstad, President and CEO Thomas Jakobsen, CFO August 20th, 2014
Slide 2: Disclaimer
2 20.08.2014 Medistim ASA Q2 2014 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 20.08.2014 Medistim ASA Q2 2014 Table of contents 1. Highlights Second Quarter 2. Financial Statements 3. Business Segments Update 4. Implementing the Strategy
Slide 4: 1. Highlights second quarter
1. Highlights second quarter
Slide 5: Highlights second quarter 2014
5 20.08.2014 Medistim ASA Q2 2014 Highlights second quarter 2014 • Revenue down 2.2 % Q2 2014 QoQ o Strong growth in the US sales with 41 % increase Revenue -2.2% o Sale of consumables (probes) at the same MNOK 47.9 (49.0) level as last year per first half year o Lower number of systems sales in Eur
Slide 6: 2. Financial statements
2. Financial statements
Slide 7: Profit and loss Q2 2014
7 20.08.2014 Medistim ASA Q2 2014 Profit and loss Q2 2014 Sales per Quarter (TNOK) Profit & loss Q2 2014 Q2 2013 55 000 All numb ers in NOK 1000 50 000 Sales 47 868 48 962 45 000 Cost of goods sold 12 323 11 428 Salary and social expenses 12 947 13 205 40 000 Other operating expenses 8 855 9 609 35
Slide 8: Profit and loss H1 2014
8 20.08.2014 Medistim ASA Q2 2014 Profit and loss H1 2014 Sales per Quarter (TNOK) Profit & loss 1. half 14 1. half 13 55 000 All numb ers in NOK 1000 Sales 96 725 94 468 50 000 Cost of goods sold 25 304 23 619 45 000 Salary and sosial expenses 29 722 28 349 40 000 Other operating expenses 18 699 18
Slide 9: Balance sheet - Assets
9 20.08.2014 Medistim ASA Q2 2014 Balance sheet - Assets Balance sheet 30.06.2014 31.12.2013 200 000 All numbers in NOK 1000 180 000 Assets 160 000 140 000 Intangible assets 52 897 49 399 120 000 Fixed assets 13 247 14 061 100 000 Total intangible and fixed assets 66 144 63 460 80 000 Inventory 38 6
Slide 10: Balance sheet - Equity and liability
10 20.08.2014 Medistim ASA Q2 2014 Balance sheet - Equity and liability Balance sheet 30.06.2014 31.12.2013 200 000 All numbers in NOK 1000 180 000 160 000 140 000 Share capital 4 585 4 585 120 000 Premium fund 41 852 41 852 100 000 Other equity 72 925 75 198 80 000 Total equity 119 362 121 635 60 0
Slide 11: 3. Business segments update
3. Business segments update
Slide 12: Flow probes and VeriQ sales in units
12 20.08.2014 Medistim ASA Q2 2014 Flow probes and VeriQ sales in units Flow probes in units VeriQ systems in units 1 600 35 1 500 30 25 1 400 20 US 1 300 ROW 15 Europe 1 200 10 Asia 1 100 5 0 1 000 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 12 12 12 12 13 13 13 13 14 14 12 12 12 12
Slide 13: Imaging probes and VeriQ C sales in units
13 20.08.2014 Medistim ASA Q2 2014 Imaging probes and VeriQ C sales in units Imaging probes in units VeriQ C systems in units 14 25 12 10 20 8 15 6 10 4 2 5 0 0 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 VeriQC ex US VeriQC
Slide 14: Q2 revenue performance by region
14 20.08.2014 Medistim ASA Q2 2014 Q2 revenue performance by region Mill NOK Q2 '14 Q2 '13 Q/Q H1 2014 H1 2013 H1/H1 Europe 27,5 31,1 -11,6 % 59,4 57,8 2,8 % USA 14,6 10,3 41,7 % 25,3 23,1 9,3 % Asia & Jp 3,3 2,9 13,8 % 7,7 6,5 18,5 % ROW 2,5 4,6 -45,7 % 4,3 7,0 -38,9 % (MEA, CAN, SA) Total 47,9 48,
Slide 15: Q2 revenue performance by product
15 20.08.2014 Medistim ASA Q2 2014 Q2 revenue performance by product Mill NOK Q2 '14 Q2 '13 Q/Q H1 2014 H1 2013 H1/H1 Procedures (USA) 11,7 10,3 13,6 % 22,1 20,9 5,7 % Flow probes 13,9 13,1 6,1 % 28,3 25,7 10,1 % Flow systems (VeriQ) 2,8 4,0 -30,0 % 6,8 8,0 -15,0 % Imaging systems (VeriQ C) 3,2 3,8
Slide 16: 4. Implementing the strategy
4. Implementing the strategy
Slide 17: Game plan USA
17 20.08.2014 Medistim ASA Q2 2014 USA Game plan USA PERFORMANCE 2013 GAME PLAN 2014 • Sales revenues down by 5.4% for the year and • Transitioning into new leadership total number of procedures was down by 2.2% • Lower number of capital sales (systems and probes) • Organization structure optimizati
Slide 18: Implementation update
18 20.08.2014 Medistim ASA Q2 2014 USA Implementation update PERFORMANCE Q2 STATUS GAME PLAN IMPEMENTATION • Revenues up by 41% • Regaining confidence in winning • Number of procedures up by 31% o 20 new accounts per first half o Building momentum from vascular evaluations • 15 % growth in imaging p
Slide 19: Seeing is believing
19 20.08.2014 Medistim ASA Q2 2014 Seeing is believing