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Vistin Pharma ASA: Fourth quarter 2021 financial results

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

Oslo, Norway, 17th of February 2022

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

Revenue in fourth quarter ended at MNOK 78 compared to MNOK 64 in Q4 2020. The revenue increase was driven by higher sales volume (+29%) and sales prices, partly offset by a significant stronger NOK vs EUR compared to last year.

Fourth quarter EBITDA ended at MNOK 12.2 (Q4’20: MNOK 13.9) a 13% decrease compared to similar quarter last year. The lower EBITDA in Q4’21 was driven by a stronger NOK vs EUR, increased raw material prices, record high international freight costs, bonus accrual and significantly higher electricity prices in the quarter compared to last year. Currency neutral EBITDA in Q4’21 compared to Q4’20 shows an increase of approx. 15%.

The net profit for the group ended at MNOK 7.2 (Q4’20: MNOK 8.6) for the fourth quarter of 2021.

Vistin Pharma had cash of MNOK 36 (Q4’20 MNOK: 77) as of 31 December 2021. Approx. 55% of the Metformin Expansion Project (MEP) has been paid as of end December. The company has a strong balance sheet with an equity ratio of 83% and no interest-bearing debt.

2021 had an all-time high sales volume of 3 748MT compared to 3 360MT in 2020, an increase of 12%.

The fourth quarter conference call, which will be held today, 17th of February, at 8.30am (CET) will be available via web and audio through the following access points:

Telephone conference:
Confirmation Code:        7590346
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/jb9o62eq

The conference call will be held in English.    

Please find the Q4 report and presentation enclosed. The report will also be made available on www.vistin.com.

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For further information, please contact:

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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