Skip to main content

Vistin Pharma ASA: Second quarter and first half 2023 financial results

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

Oslo, Norway, 23rd of August 2023

Vistin Pharma ASA (Vistin Pharma, OSE: VISTIN) today announces the financial results for the second quarter and first half of 2023.

Revenue in the second quarter ended at MNOK 107 compared to MNOK 69 in Q2 2022. Increased volume from the new production line compared to the same quarter last year has resulted in more volumes available for sale. Revenue for first half of 2023 ended at MNOK 208 compared to MNOK 102 YTD last year, a 103% increase.

Second quarter EBITDA ended at MNOK 19.6 (MNOK 4.7). EBITDA positively affected by increased sales volume, competitive electricity prices and a stronger EUR vs NOK, partly offset by a stronger USD vs NOK. In addition, economies of scale are materializing as the MEP volume ramps up. EBITDA for first half of 2023 ended at MNOK 33.7 compared to negative MNOK 13.5 YTD 2022.

Net profit ended at MNOK 7.1 (Q2’22: MNOK 0.2) for the second quarter of 2023. Net profit negatively affected with MNOK 3 in the quarter by fair value of future FX cash flow hedging contracts (unrealized loss – no cash effect in quarter).  

Operational cash flow in the first half of 2023 was MNOK 54 and has resulted in a change from net debt of MNOK 44 at year end 2022 to a positive net cash of MNOK 3 by end of June.

The second quarter conference call, which will be held today, 23rd of August, at 8.30am (CEST), will be available via webcast and audio through the following access points:

Webcast:
https://edge.media-server.com/mmc/p/jokra7jp

Telephone conference (online registration):

https://register.vevent.com/register/BI6600178838a944b187ed120748334f53

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:

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.

 

 

Attachments

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.