Q3 2024 Vistin Pharma ASA Earnings Call Transcript
Key Points
- Vistin Pharma ASA (LTS:0RAM) achieved a record high EBITDA of NOK 29 million in Q3 2024, up from NOK 27 million in the same quarter last year.
- The company reported an all-time high production volume of 1,500 metric tons, indicating strong operational utilization.
- Vistin Pharma ASA distributed a cash dividend of NOK 1.25 per share in 2024, with an additional NOK 0.5 per share planned for Q4.
- The company benefits from a long-term renewable energy supply agreement with Statkraft, ensuring 100% green renewable hydropower energy until 2032.
- Vistin Pharma ASA is strategically positioned in the growing metformin market, which is expected to grow by 4% to 6% annually.
- Revenue for Q3 2024 decreased to NOK 106 million from NOK 120 million in Q3 2023, primarily due to lower sales volume and decreased global metformin prices.
- Net profit for Q3 2024 was NOK 16.6 million, down from NOK 23.5 million in the same quarter last year.
- The company experienced a decrease in sales volume to 1,300 metric tons in Q3 2024, down from 1,440 metric tons in Q3 2023.
- Vistin Pharma ASA's net finance was negative NOK 2.8 million in Q3 2024, compared to a positive NOK 7.3 million in Q3 2023.
- The gross margin of 68% in Q3 2024, while strong, is considered unsustainable over time according to the company's CFO.
Thank you and hello everyone and welcome to this third quarter, 2024 presentation in Vistin Pharma.
My name is Magnus Tolleshaug CEO of the company and with me, I have Mr. Alexander Karlsen, the CFO of the company, and we will be doing today's presentation.
I will start with the highlights from the third quarter.
The quarter ended at NOK 106 million in the revenue compared to NOK 120 million in the third quarter of 2023. The revenue decrease compared to same quarter last year driven by lower sales volume due to safety stock built and somewhat lower global metformin in prices compared to the third quarter last year.
Year-to-date, we have had the NOK 316 million in revenue compared to NOK 328 million year-to-date last year.
The quarter ended at a record high EBITDA of NOK 29 million versus NOK 27 million in the third quarter last year, the EBITA was positively affected by the product mix, favorable material cost prices and good cost control in the quarter.
The EBITA year-to-date is NOK
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