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
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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.
