Vistin Pharma ASA: Second quarter and first half 2020 financial results

Vistin Pharma ASA  announces the financial results for the second quarter and first half of 2020, with a 20% increase in revenue and EBITDA of MNOK 20.9 for the pharmaceutical business in Q2 – highest revenue and EBITDA ever in a quarter. For first half 2020 revenue increased by 30% and EBITDA by 200% versus first half 2019.

The revenues for the second quarter of 2020 ended at MNOK 73. For first half of 2020 the revenue was MNOK 134.4, compared to MNOK 103.3 in first half of 2019, a growth of 30%.

Second quarter EBITDA for pharmaceuticals was MNOK 20.9 , and a first half 2020 EBITDA of MNOK 35.1, compared to MNOK 11.7 in first half of 2019.

The net profit for the group ended at MNOK 20.7  for the second quarter of 2020. For first half 2020 the net loss was MNOK 110.1, compared to profit of MNOK 2.4 in first half of 2019, driven by the loss of closing the oil derivative portfolio in March.

Vistin Pharma had cash of MNOK 109 as of 30 June 2020, and a strong balance sheet with an equity ratio of 83%. Dividend of NOK 1 per share was paid to shareholders in June.

The second quarter conference call, which will be held today, 28 August, at 8.30am (CEST) and will be available via web and audio through the following access points:

Telephone conference:
Confirmation Code:…….. 9358318
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/b48bigg6

The conference call will be held in Norwegian.
       

Please find the Q2 and first half 2020 report and presentation enclosed. The report will also be made available on www.vistin.com.

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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