Medistim ASA · OSL:MEDI
Medistim ASA — Q3 2011 Earnings Presentation
26 slides from Medistim ASA's earnings presentation, Oct 28, 2011
Slide 1: Medistim ASA Third Quarter 2011
Medistim ASA Third Quarter 2011 Kari E. Krogstad, President and CEO Thomas Jakobsen, CFO October, 28th, 2011
Slide 2: Table of Contents
2 28.10.2011 Medistim Q3 2011 Table of Contents 1. Highlights Third Quarter 2. Financial Statements 3. Business Segments Update 4. Implementing the Strategy
Slide 3: 1. Highlights Third Quarter
MED\STIM 1. Highlights Third Quarter
Slide 4: Highlights Third Quarter 2011
4 28.10.2011 Medistim Q3 2011 Highlights Third Quarter 2011 • Volume growth of 4.8% for own products o YTD volume growth for own products of 11.3% • Sales revenues for the third quarter were MNOK 36.3 (MNOK 36.6) o YTD sales revenues growth of 5.7% to MNOK 120.4 (MNOK 113.9) • Operating profit (EBIT
Slide 5: 2. Financial Statements
2. Financial Statements
Slide 6: Profit and Loss Q3 2011
6 28.10.2011 Medistim Q3 2011 Profit and Loss Q3 2011 Profit & Loss Q3 2011 Q3 2010 All numbers in NOK 1000 Sales 36 297 36 563 Sales per Quarter in KNOK 44000 Cost of goods sold 8 565 8 484 42000 Salary and sosial expenses 14 071 13 388 40000 Other operating expenses 7 478 8 390 38000 Total operati
Slide 7: Profit and Loss Year to Date
7 28.10.2011 Medistim Q3 2011 Profit and Loss Year to Date Profit & Loss YTD Sep 2011 YTD Sep 2010 180000 Accumulated Sales All numbers in NOK 1000 160000 Sales 120 427 113 901 140000 120000 Cost of goods sold 30 216 30 305 100000 Salary and sosial expenses 40 836 35 591 80000 Other operating expens
Slide 8: Geographic Split of Sales in Units
28.10.2011 Medistim Q3 2011 Geographic Split of Sales in Units Number of units Q3 2011 Q3 2010 YTD Sep '11 YTD Sep '10 2010 USA Procedures 6 901 6 903 21 250 19 523 25 855 Flow systems (VeriQ) 2 1 4 2 2 Stethoscopes 590 199 985 515 676 Asia Flow systems (VeriQ) 4 11 30 22 35 Ultrasound imaging syste
Slide 9: Balance Sheet - Assets
9 28.10.2011 Medistim Q3 2011 Balance Sheet - Assets Balance sheet 30.09.2011 31.12.2010 All numbers in NOK 1000 Assets Intangible assets 43 211 43 575 Fixed assets 8 956 5 244 Total tangible and fixed assets 52 167 48 819 Inventory 30 200 28 571 Customers receivables 25 970 25 497 Other receivables
Slide 10: Balance Sheet - Equity and Liability
10 28.10.2011 Medistim Q3 2011 Balance Sheet - Equity and Liability Balance sheet 30.09.2011 31.12.2010 All numbers in NOK 1000 Share capital 4 585 4 585 Share premium reserve 41 852 41 852 Other equity 58 173 61 397 Total equity 104 610 107 834 Pension liability 8 999 7 465 Deferred income 4 344 4
Slide 11: 3. Business Segments Update
3. Business Segments Update
Slide 12: Q3 Revenue Performance by Region
12 28.10.2011 Medistim Q3 2011 Q3 Revenue Performance by Region Mill NOK Q3 '11 Q3 '10 Q/Q YTD '11 YTD '10 YTD/YTD 2010 Europe 21,5 20,3 6,2 % 73,0 70,2 4,0 % 97,8 USA 10,1 10,5 -3,6 % 30,8 29,8 3,6 % 39,1 Asia & Jp 2,3 3,2 -30,1 % 9,2 8,6 6,2 % 12,6 ROW 2,4 2,5 -6,8 % 7,4 5,3 40,3 % 8,5 (MEA, CAN,
Slide 13: Q3 Revenue Performance by Product
13 28.10.2011 Medistim Q3 2011 Q3 Revenue Performance by Product Mill NOK Q3-11 Q3-10 Q/Q YTD-11 YTD-10 YTD/YTD Procedures (US) 9,0 10,0 -9,8 % 28,7 28,8 -0,4 % Flow probes 9,2 8,7 6,0 % 28,8 29,5 -2,3 % Flow systems (VeriQ) 4,5 5,4 -15,8 % 14,9 10,8 38,2 % Imaging systems (VeriQC) 1,6 0,7 130,6 % 4
Slide 14: US Market Development
14 28.10.2011 Medistim Q3 2011 US Market Development Q3 performance at same high level as Q3 # procedures Procedures per Quarter Quarterly Growth 8000 8000 last year (6.900 procedures) 7500 7500 New sales methodology implemented 7000 7000 Increased focus on new as well as large, key accounts 6
Slide 15: Strengthening Our Position within Vascular Surgery
15 28.10.2011 Medistim Q3 2011 Strengthening Our Position within Vascular Surgery • In addition to CABG*), where Medistim is the world leader, quality assessment within peripheral vascular applications provide significant untapped potential • The global peripheral vascular market is estimated to be
Slide 16: Launching New TTFM Probes for Peripheral Vascular Surgery
16 28.10.2011 Medistim Q3 2011 Launching New TTFM Probes for Peripheral Vascular Surgery • The new probe line is specifically designed for peripheral vascular surgery, enabling flow measurements through larger vessels, typically from 5 to 18 mm in diameter • The probes are steam autoclavable to meet
Slide 17: 4. Implementing the Strategy
4. Implementing the Strategy
Slide 18: MediStim Owns a High Share of an Underdeveloped Market
18 28.10.2011 Medistim Q3 2011 MediStim Owns a High Share of an Underdeveloped Market • PENETRATION • SHARE OF THE PENETRATED MARKET 20 % 7% 5% 2% No Quality Assurance: 19% > 73 % 74% MediStim Transonic Other No Quality Assurance
Slide 19: Strategic Imperatives "Standard of Care"
19 28.10.2011 Medistim Q3 2011 Lobbying, PR, Strategic Imperatives Digital Health marketing economy ”Standard model of Care” EU & NICE, developed INFLUENCE PAYORS Ground- AND braking new PATIENTS studies in LOBBYING New, planning PROVIDE Disruptive RETURN NEW MEDIA Marketing ON INVESTMENT Dr. Campai
Slide 20: The Strategic Imperative to Challenge Current Practice
The Strategic Imperative to Challenge Current Practice
Slide 21: Loading the Marketing Gun with Important, Impactful Messages
21 28.10.2011 Medistim Q3 2011 Loading the Marketing Gun with Important, Impactful Messages Low mortality is not good enough Surgeons and hospitals will be measured on health outcomes and quality of life – not mortality rate Finger palpation is unreliable It is proven to be an inaccurate and ins
Slide 22: How to Make Surgeons Listen and Care
22 28.10.2011 Medistim Q3 2011 How to Make Surgeons Listen and Care • …about the core issue: ”What is a good result, what is good quality in surgery and how should surgeons measure and ensure the quality of their operative procedures?” • How to make surgeons stop, listen, care, open up to challengin
Slide 23: New Marketing Campaigns
23 28.10.2011 Medistim Q3 2011 New Marketing Campaigns
Slide 24: Campaign Launched at the EACTS 2011 in Lisbon, Portugal
24 28.10.2011 Medistim Q3 2011 Campaign Launched at the EACTS 2011 in Lisbon, Portugal EACTS, Portugal, 2011
Slide 25: Standing Out in the Crowd
25 28.10.2011 Medistim Q3 2011 Standing Out in the Crowd EACTS, Portugal, 2011
Slide 26: Seeing is believing
26 28.10.2011 Medistim Q3 2011 Seeing is believing