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Vistin Pharma ASA: Third quarter 2021 financial results

Written by Customer Service on . Posted in Public Companies.

Oslo, Norway, 28th of October 2021

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

Revenue in third quarter ended at MNOK 62.9 compared to MNOK 55.1 in Q3 2020. The revenue increase was driven by higher sales volume (+12%) and sales prices, offset by a significant stronger NOK vs EUR compared to last year.

Third quarter EBITDA ended at MNOK 4.6 (Q3’20: MNOK 9.5) a 52% decrease compared to similar quarter last year. The lower EBITDA in Q3’21 was driven by a stronger NOK vs EUR, increased raw material prices, record high international freight costs due to global constraints following Covid-19 and significantly higher electricity prices in the quarter compared to last year.

The net profit for the group ended at MNOK 1 (Q3’20: MNOK 4.5) for the third quarter of 2021.

Vistin Pharma had cash of MNOK 52 (Q3’20 MNOK: 98) as of 30 September 2021. Approx. 55% 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 85% and no interest-bearing debt.

The Fikkjebakke plant is on track to achieve an all-time high production volume in 2021.

The third quarter conference call, which will be held today, 28th of October, at 8.30am (CET) and will be available via web and audio through the following access points:

Telephone conference:
Confirmation Code:             1860729
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/u59e5tiq

The conference call will be held in English.    

Please find the Q3 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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