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Vistin Pharma ASA: Second quarter and first half 2021 financial results

·2-min read

Oslo, Norway, 19th of August 2021

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

Revenue in second quarter ended at MNOK 66.8 compared to MNOK 73 in Q2 2020. Sales volume in the quarter was record high, however revenue negatively affected by a significantly stronger NOK vs EUR compared to last year.

Second quarter EBITDA ended at MNOK 15.3 (Q2’20: MNOK 20.9) a 26% decrease compared to similar quarter last year. The lower EBITDA in Q2’21 was driven by a stronger NOK vs EUR, record high freight and electricity prices and increased raw material prices compared to similar quarter last year.

The net profit for the group ended at MNOK 8.1 (Q2’20: MNOK 20.7) for the second quarter of 2021.

Vistin Pharma had cash of MNOK 60 (Q2’20 MNOK: 109) as of 30 June 2021. Approx. 50% of the Metformin Expansion Project (MEP) has been paid as of end June. The company has a strong balance sheet with an equity ratio of 83% and no interest-bearing debt.

The Fikkjebakke plant has been running at full capacity and achieved an all-time high production volume in the quarter, adjusted for a seven-days planned maintenance stop.

The second quarter conference call, which will be held today, 19th of August, at 8.30am (CET) and will be available via web and audio through the following access points:

Telephone conference:
Confirmation Code: 7925407
International Dial-In: +44 (0) 203 0095709
Norway, Oslo: +47 21033922
United States, New York: +1 6467871226

Webcast:
https://edge.media-server.com/mmc/p/ejs5nvy8

The conference call will be held in English.

Please find the Q2 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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