Vistin Pharma Asa · OSL:VISTN
Vistin Pharma Asa — Q1 2021 Earnings Presentation
22 slides from Vistin Pharma Asa's earnings presentation, Apr 23, 2021
Slide 1: Vistin Pharma – First quarter 2021 results
Vistin Pharma – First quarter 2021 results Kjell-Erik Nordby (CEO) Alexander Karlsen (CFO) 23 April 2021 1
Slide 2: Agenda
Agenda Highlights Operational review Financial review Outlook Appendix 2
Slide 3: First quarter 2021 results
HIGHLIGHTS First quarter 2021 results ▪ MNOK 70.8 in revenue vs. MNOK 61.4 in Q1 2020, a 15% increase - Revenue positively affected by product mix and slightly favourable EURNOK compared to last year ▪ MNOK 16.3 in EBITDA vs. MNOK 14.2 in Q1 2020, a 15% increase - EBITDA favourably affected by produ
Slide 4: 2018-2021 Strong revenue and EBITDA development
HIGHLIGHTS 2018-2021 Strong revenue and EBITDA development MNOK *Revenue 80 34% 71 70 61 60 53 50 MNOK 42 40 *EBITDA 30 20 10 406% 0 Q1 2018 Q1 2019 Q1 2020 Q1 2021 18 MNOK *EBITDA 16 16 136% 14 14 12 10 8 7 6 4 2 0 Q1 2018 Q1 2019 Q1 2020 Q1 2021 -2 -2 -4 *Only pharmaceuticals 4
Slide 5: Agenda
Agenda Highlights Operational review Financial review Outlook Appendix 5
Slide 6: Vistin Pharma a dedicated metformin producer with a bright outlook
OPERATIONAL REVIEW - PHARMACEUTICALS Vistin Pharma a dedicated metformin producer with a bright outlook DIABETES METFORMIN A BRIGHT OUTLOOK - - FOR VISTIN PHARMA ONE OF THE THE GOLD STANDARD - LARGEST HEALTH + TREATMENT OF TYPE = A LEADING GLOBAL EMERGENCIES IN THE 2 DIABETES PRODUCER OF 21ST CENTUR
Slide 7: Metformin will remain 1st-line treatment for type 2 diabetes in the foreseeable future
OPERATIONAL REVIEW - PHARMACEUTICALS Metformin will remain 1st-line treatment for type 2 diabetes in the foreseeable future Used to lower glucose (blood sugar) levels - Reduces the liver’s production of glucose - Delays and reduces absorption of glucose from the intestine - Increases insulin sensiti
Slide 8: Diabetes – A global emergency
OPERATIONAL REVIEW - PHARMACEUTICALS Diabetes – A global emergency Number of people living with diabetes Source International Diabetes Federation, IDF Diabetes Atlas, seventh edition, 2019 8
Slide 9: Vistin Pharma is a metformin player with a world wide sales coverage
OPERATIONAL REVIEW - PHARMACEUTICALS Vistin Pharma is a metformin player with a world wide sales coverage 9
Slide 10: Record high production volume in quarter
OPERATIONAL REVIEW - PHARMACEUTICALS Record high production volume in quarter Quarterly sales volume metformin (HCl & DC) 1000 930 ▪ Sales volume for the first quarter was 860MT, down 915 900 866 873 860 by 2% vs Q1 2020 (873MT) 815 802 770 800 ▪ Optimization of the new second reactor in quarter 700
Slide 11: Corona pandemic status
OPERATION UPDATE Corona pandemic status ▪ The Fikkjebakke plant has been running at full capacity throughout the Covid-19 pandemic - Successful actions have been taken to secure the supply of critical raw materials and to build security stocks during the Covid-19 outbreak - Lack of available contain
Slide 12: Agenda
Agenda Highlights Operational review Financial review Outlook Appendix 12
Slide 13: Key quarterly figures for Vistin Pharma
FINANCIAL REVIEW Key quarterly figures for Vistin Pharma Revenue NOK million 80 Revenues 73 68 71 ▪ MNOK 9 and 15% increase in revenue YoY – driven by 70 64 61 61 favourable product mix and EURNOK 60 57 55 50 ▪ Gross margin decrease driven by higher raw material 42 prices and record high transportat
Slide 14: Key quarterly figures for Vistin Pharma
FINANCIAL REVIEW Key quarterly figures for Vistin Pharma Results (pharmaceuticals) NOK million 25 EBITDA ▪ EBITDA of MNOK 16.3 vs MNOK 14.2 in Q1 2020, an 21 increase of 15% 20 16 ▪ EBITDA positively affected by product mix, slightly 14 14 15 13 favorable EURNOK and operational efficiency 12 improve
Slide 15: Consolidated income statement
FINANCIAL REVIEW Consolidated income statement (NOK 1 000) Q1 2021 Q1 2020 FY 2020 Total revenue and income Pharmaceuticals 70 803 61 407 253 905 Energy Trading - - - HQ & other - - - Total revenue and income 70 803 61 407 253 905 EBITDA Pharmaceuticals 16 313 14 238 58 189 Energy Trading - 74 (190)
Slide 16: Balance sheet Vistin Pharma – Assets
FINANCIAL REVIEW Balance sheet Vistin Pharm Assets NOK 1000 31.03.2021 31.03.2020 31.12.2020 ASSETS 600 000 Non-current assets 500 000 Fixed assets 147 720 101 288 145 261 Deferred tax assets 32 622 44 643 35 128 400 000 Total non-current assets 180 343 145 931 180 389 300 000 Current assets 200 000
Slide 17: Balance sheet Vistin Pharma – Equity and liabilities
FINANCIAL REVIEW Balance sheet Vistin Pharm Equity and liabilities NOK 1000 31.03.2021 31.03.2020 31.12.2020 EQUITY AND LIABILITIES Equity Share capital 44 345 44 345 44 345 600 000 Share premium 229 056 273 401 229 056 Retained earnings 7 791 (35 162) (996) 500 000 Total equity 281 192 282 584 272
Slide 18: Agenda
Agenda Highlights Operational review Financial review Outlook Appendix 18
Slide 19: Outlook
Outlook Outlook ▪ Metformin market expected to continue to grow by 5-6% annually - Diabetes is one of the largest health crises of the 21st century - Metformin is expected to maintain its position as the Gold Standard treatment for T2D in the foreseeable future ▪ Attractive growth potential from exi
Slide 20: Agenda
Agenda Highlights Operational review Financial review Outlook Appendix 20
Slide 21: Top 20 shareholders as of 31 March 2021
APPENDIX Top 20 shareholders as of 31 March 2021 NAME SHAREHOLDING % SHARE INTERTRADE SHIPPING AS* 12 575 000 28,4 % PACTUM AS* 3 492 233 7,9 % HOLMEN SPESIALFOND 3 250 000 7,3 % MP PENSJON PK 1 719 848 3,9 % TYCOON INDUSTRIER AS* 784 280 1,8 % AUGUST RINGVOLD AGENTUR AS 750 315 1,7 % NORDNET LIVSFO
Slide 22: Thank you for your attention!
Thank you for your attention! www.vistin.com 22