Oslo, Norway, 24th of April 2024
Vistin Pharma ASA (VISTN) today announces the financial results for the first quarter of 2024.
Revenue in the first quarter ended at MNOK 104 compared to MNOK 101 in Q1 2023. Sales volume in the quarter was up by 11% compared to Q1 2023.
First quarter EBITDA ended at MNOK 20 compared to MNOK 14 in Q1 2023, representing a 45% increase. EBITDA positively affected by increased sales volume and product mix, partly offset by a one-time inventory adjustment of MNOK 7.
The net profit ended at MNOK 7.7 for the first quarter of 2024. Net profit negatively affected with approx. MNOK 3 in the quarter by fair value of future FX cash flow hedging contracts (unrealized gain - no cash effect in quarter).
Unplanned "wear and tear" maintenance/repair on Line 2 resulted in lower than planned production and sales volume in the first quarter. After the repair, line 2 has been producing according to plan from fiscal week 14.
The first quarter conference call, which will be held today 24th of April at 8.30am (CET), will be available via webcast and audio through the following access points:
Webcast:
https://edge.media-server.com/mmc/p/79s7jnyd
Telephone conference (online registration):
https://register.vevent.com/register/BI321b77b12df846a1884e7ce3a77e0b1a
The conference call will be held in English.
Please find the Q1 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.
