Oslo, Norway, 30 October 2020
Vistin Pharma ASA (Vistin Pharma, OSE: VISTIN) today announces the financial results for the third quarter and YTD 2020.
The revenues for the third quarter of 2020 ended at MNOK 55 (Q3’19: MNOK 68). YTD 2020 the revenue was MNOK 189, compared to MNOK 171 in the first three quarters of 2019, a growth of 11%.
Third quarter EBITDA for pharmaceuticals was MNOK 9.5 (Q3’19: MNOK 11.8), and YTD 2020 EBITDA of MNOK 44.3, compared to MNOK 23.6 in the first three quarters of 2019, an 88% increase.
The net profit for the group ended at MNOK 4.5 (Q3’19: MNOK 59.6) for the third quarter of 2020. For first three quarters of 2020 the net loss was MNOK 105.6, compared to a profit of MNOK 59.6 YTD 2019. The net loss in 2020 is driven by the closing of the oil derivative portfolio in March.
Vistin Pharma had cash of MNOK 97.5 (Q3’19 MNOK: 305) as of 30 September 2020. First installment of 15% for the Metformin Expansion Project (MEP) was paid in September. The company has a strong balance sheet with an equity ratio of 83% and no interest-bearing debt.
The third quarter conference call, which will be held today, 30 October, at 8.30am (CET) and will be available via web and audio through the following access points:
Confirmation Code:........ 9184755
International Dial-In:........ +44 (0) 2071 928338
Norway, Oslo:................ +47 21563015
United States, New York: +1 6467413167
The conference call will be held in Norwegian.
Please find the Q3 report and presentation enclosed. The report will also be made available on www.vistin.com.
For further information, please contact:
+47 91 36 42 80
+47 97 05 36 21
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.