Vistin Pharma ASA: Third quarter 2023 financial results
Oslo, Norway, 25th of October 2023
Vistin Pharma ASA (Vistin Pharma, OSE: VISTIN) today announces the financial results for the third quarter of 2023.
Vistin delivers another strong quarter with all-time high revenue, EBITDA and sales volume. Revenue in the third quarter ended at MNOK 120 compared to MNOK 92 in Q3 2022, a 30% increase. Increased volume from the new production line compared to the same quarter last year has resulted in more volumes available for sale. Revenue YTD ended at MNOK 328 compared to MNOK 194 YTD last year, a 69% increase.
Third quarter EBITDA ended at MNOK 27 (Q3’22 MNOK negative 3). EBITDA are 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, positive economies of scale effects as the MEP volume ramps-up. Bonus accrual of MNOK 2.7 booked in quarter (0 in Q3’22). EBITDA for first nine months of 2023 ended at MNOK 61 compared to negative MNOK 16 YTD 2022.
The net profit ended at MNOK 23.5 (Q3’22: MNOK negative 6.7) for the third quarter of 2023. Net profit positively affected with approx. MNOK 10 in the quarter by fair value of future FX cash flow hedging contracts (unrealized gain - no cash effect in quarter).
Vistin Pharma has a strong balance sheet with equity ratio of 78% and no interest-bearing debt.
The third quarter conference call, which will be held today, 25th of October, at 8.30am (CEST), will be available via webcast and audio through the following access points:
Webcast:
https://edge.media-server.com/mmc/p/bbzmgojv
Telephone conference (online registration):
https://register.vevent.com/register/BIde003424d0984dc899edfd078e0f4dd9
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:
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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