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Vistin Pharma ASA: First quarter 2021 financial results

Vistin Pharma ASA
·2-min read

Oslo, Norway, 23rd of April 2021

Vistin Pharma ASA (Vistin Pharma, OSE: VISTIN) today announces the financial results for the first quarter 2021

Vistin Pharma delivers another strong quarter with 15% increase in revenue YoY. Q1’21 revenue ended at MNOK 70.8 (Q1’20: MNOK 61.4).

First quarter EBITDA for pharmaceuticals was MNOK 16.3 (Q1’20: MNOK 14.2) a 15% increase compared to similar quarter last year

The net profit for the group ended at MNOK 8.8 (Q1’20: negative MNOK 168) for the first quarter of 2021. The net loss in Q1’20 was driven by closing of the oil derivative contracts.

Vistin Pharma had cash of MNOK 85 (Q1’20 MNOK: 317) as of 31 March 2021. Approx. 35% of the Metformin Expansion Project (MEP) has been paid as of March. The company has a strong balance sheet with an equity ratio of 86% and no interest-bearing debt.

The Fikkjebakke plant has been running at full capacity an achieved an all-time high production volume in the quarter driven by full effect of the 2nd reactor installed in Q3/Q4’20

The first quarter conference call, which will be held today, 23rd of April, at 8.30am (CET) and will be available via web and audio through the following access points:

Telephone conference:
Confirmation Code:........ 4598958
International Dial-In:....... +44 (0) 2071 928338
Norway, Oslo:................ +47 21563015
United States, New York: +1 6467413167

Webcast:
https://edge.media-server.com/mmc/p/rso5ngk4

The conference call will be held in Norwegian.

Please find the Q1 report and presentation enclosed. The report will also be made available on www.vistin.com.

*****

For further information, please contact:

Kjell-Erik Nordby
CEO
+47 91 36 42 80
kjell-erik.nordby@vistin.com

Alexander Karlsen
CFO
+47 97 05 36 21
alexander.karlsen@vistin.com

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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