Vistin Pharma Asa · OSL:VISTN
Vistin Pharma Asa — Q4 2024 Earnings Presentation
29 slides from Vistin Pharma Asa's earnings presentation, Feb 13, 2025
Slide 1: Presentation 2024
Presentation 2024 Magnus Tolleshaug (CEO) / Alexander Karlsen (CFO) 13 February 2025
Slide 2: Agenda
Agenda Highlights Market overview Financial review Summary Appendix
Slide 3: Highlights
Highlights Strong operational performance in the quarter - revenue of MNOK 114 (+3%) and EBITDA of MNOK 28 (+11%) MNOK 114 in revenue vs. MNOK 111 in Q4 2023 Other • Strong operational performance resulted in more volumes • Close to 1500MT produced in the 4th quarter, available for sale in the quart
Slide 4: Vistin has high focus on reducing local and global emissions
Vistin has high focus on reducing local and global emissions, and programs are in place to consume responsibly and recycle where possible
Slide 5: Slide 5
Slide 6: Agenda
Agenda Highlights Market overview Financial review Summary Appendix
Slide 7: A pure play metformin company – supporting patients worldwide in a growing market
A pure play metformin company – supporting patients worldwide in a growing market Vistin Pharma Diabetes Metformin growth opportunity One of the largest + The gold standard = A leading global health emergencies treatment of type in the 21st century 2 diabetes producer of premium metformin • Market d
Slide 8: Diabetes – A global emergency
Diabetes – A global emergency
Slide 9: Number of people with diabetes expected to increase by 50% from 2019-2045
Number of people with diabetes expected to increase by 50% from 2019-2045 to 780 million people Number of people living with diabetes Source International Diabetes Federation, IDF Diabetes Atlas, tenth edition, 2021
Slide 10: Key diabetes facts
Key diabetes facts: Number of people living with diabetes Source International Diabetes Federation, IDF Diabetes Atlas, tenth edition, 2021 Source International Diabetes Federation, IDF Diabetes Atlas, tenth edition, 2021
Slide 11: Vistin Pharma produces about 10% of the world's demand of metformin
Vistin Pharma produces about 10% of the world’s demand of metformin and has a world-wide sales coverage
Slide 12: World sales map
World sales ma North Atlantic Ocean North South Atlantic Ocean
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Slide 14: Agenda
Agenda Highlights Market review Financial review Summary Appendix
Slide 15: Long and successful growth track record
Financial review Long and successful growth track record Revenues Vistin Metformin (MNOK) 500 450 438 430 400 350 305 300 279 254 250 228 201 200 176 177 171 142 150 150 111 101 100 88 50 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2022 includes a one-time positive l
Slide 16: Q4 2024 sales volume increased by 11% compared to same quarter last year
Financial review Q4 2024 sales volume increased by 11% compared to same quarter last year. Quarterly sales volume metformin (HCl & DC) Annual sales volume metformin (HCl & DC) 1600 6000 1440 1400 5200 1400 5000 1260 1230 1250 1300 5000 1200 1200 1140 1100 4000 1000 3500 800 3000 600 2000 400 1000 20
Slide 17: Increased production volume has resulted in more volumes available for sale and increased revenue
Financial review Increased production volume has resulted in more volumes available for sale and increased revenue compared to same quarter last year 140 • Revenue of MNOK 113.7 in Q4’24 vs 110.7 in 120 Q4’23 120 111 114 101 107 104 106 106 • 2024 full year revenue of MNOK 430 compared 99 100 to MNO
Slide 18: Solid gross margin of 63% in quarter in accordance with long term ambition
Financial review Solid gross margin of 63% in quarter in accordance with long term ambition 80% • Strong gross margin due to stable production 68% and favorable economies of scale in raw 70% 63% 64% 63% material purchasing 58% 59% 60% 54% 56% • 2024 full year gross margin >60% according to Vistin’s
Slide 19: Another quarter with strong EBITDA growth - MNOK 28 vs. MNOK 25 in Q4 2023
Financial review Another quarter with strong EBITDA growth - MNOK 28 vs. MNOK 25 in Q4 2023 (+11%) 35 • EBITDA positively affected by increased sales 29 volume and good cost control, partly offset by 30 27 27 28 a strong USD vs NOK 25 25 • Incentive plan expense of MNOK 2 booked in quarter (2.9 in Q
Slide 20: Key figures: income statement
Financial review Key figures: income statement (NOK 1 000) Q4 2024 Q4 2023 FY 2024 FY 2023 Total revenue and other income Total revenue and other income 113 700 110 721 429 503 438 328 EBITDA EBITDA 27 719 25 005 104 325 85 944 Depreciation & amortisation -4 573 -4 488 -19 029 -17 347 EBIT EBIT 23 1
Slide 21: Balance sheet: Assets
Financial review Balance sheet Assets 31.12.2024 31.12.2023 ASSETS Non-current assets Fixed assets 229 603 219 984 • Deferred tax asset in relation to realized Financial Assets 12 154 - loss for Energy Trading in Q1 2020, fully Deferred tax assets - 14 638 utilized in Q4 2024 Total non-current asset
Slide 22: Balance sheet: Equity and liabilities
Financial review Balance sheet Equity and liabilities 31.12.2024 31.12.2023 EQUITY AND LIABILITIES Equity Share capital 44 345 44 345 Share premium 129 298 206 885 • Strong balance sheet with an equity ratio of Retained earnings 135 893 71 540 80% Total equity 309 536 322 770 • Dividend payments of
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Slide 24: Agenda
Agenda Highlights Market overview Financial review Summary Appendix
Slide 25: Summary
Summary Another strong quarter with EBITDA of 28 Attractive growth potential as the remaining MNOK in Q4’2024 with gross margin of 63% manufacturing capacity becomes fully available and optimized Sales volume increase of 11% compared to same quarter last year Vistin is strategically well positioned
Slide 26: Agenda
Agenda Highlights Market overview Financial review Summary Appendix
Slide 27: Double capacity double care metformin strategy
Double capacity double care metformin strategy Strategically Attractive growth A premium producer Metformin market positioned producer potential with new in a competitive expected to continue of two different production line market to grow by 4-6% metformin products: installed in 2022 annually Metfo
Slide 28: Top 20 shareholders as of end December 2024
Appendix NAME SHAREHOLDING % SHARE Top 20 share- INTERTRADE SHIPPING AS* HOLMEN SPESIALFOND 12 575 000 4 200 379 28,36 % 9,47 % holders as of PACTUM VEKST AS* MP PENSJON PK 2 991 773 1 719 848 6,75 % 3,88 % end December FERNCLIFF LISTED DAI AS* STORKLEIVEN AS 1 234 280 751 000 2,78 % 1,69 % 2024 AUG
Slide 29: Thank you for your attention
Thank you for your attention www.vistin.com Magnus Tolleshaug (CEO) Alexander Karlsen (CFO) 13 February 2025