Oslo, Norway, 16th of February 2024
Vistin Pharma ASA (Vistin Pharma, OSE: VISTN) today announces the financial results for the fourth quarter of 2023.
Vistin delivers another strong quarter with a 12% revenue growth compared to same quarter last year. Revenue in the fourth quarter ended at MNOK 111 compared to MNOK 99 in Q4 2022. Sales volume in the quarter was up by 11%. Revenue for FY 2023 ended at MNOK 438 compared to MNOK 305 in 2022, a 44% increase.
Fourth quarter EBITDA ended at MNOK 25 (Q4'22 MNOK 10). 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 new manufacturing line ramps-up. 2023 FY EBITDA ended at MNOK 86 compared to MNOK 6 last year.
The net profit ended at MNOK 18 for the fourth quarter of 2023. Net profit positively affected with approx. MNOK 7 in the quarter by fair value of future FX cash flow hedging contracts (unrealized gain - no cash effect in quarter).
Vistin has a strong balance sheet with equity ratio of 81% and net cash of MNOK 26 as of 31.12.2023.
The Board of Directors will propose for the AGM an ordinary dividend of total NOK 1 per share, to be paid partly with NOK 0.5 in June and NOK 0.5 in November.
The fourth quarter conference call, which will be held today, 16th of February, at 8.30am (CET), will be available via webcast and audio through the following access points:
Webcast:
https://edge.media-server.com/mmc/p/zfievj3m
Telephone conference (online registration):
https://register.vevent.com/register/BI4f66989ce55146f7ba76754c37cdec44
The conference call will be held in English.
Please find the Q4 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.
