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Vistin Pharma ASA: Fourth quarter and preliminary 2020 financial results

Oslo, Norway, 19th of February 2021

Vistin Pharma ASA (Vistin Pharma, OSE: VISTIN) today announces the financial results for the fourth quarter and 2020 preliminary figures.

Another strong quarter with 13% increase in revenue YoY for Vistin Pharma. Q4’20 revenue ended at MNOK 64.4 (Q4’19: MNOK 56.8). For 2020 the revenue was MNOK 254, compared to MNOK 228 in 2019, a growth of 11%.

Fourth quarter EBITDA for pharmaceuticals was MNOK 13.9 (Q4’19: MNOK 6.8). For 2020 EBITDA came in at MNOK 58, an all-time high yearly EBITDA, and a 92% increase compared to MNOK 30 in 2019.

The net profit for the group ended at MNOK 8.7 (Q4’19: MNOK 4.2) for the fourth quarter of 2020. For 2020 the net loss was MNOK 96.9, compared to a profit of MNOK 66.2 in 2019. The net loss in 2020 is driven by the loss of closing the oil derivative portfolio in March.

Vistin Pharma had cash of MNOK 77 (Q4’19 MNOK: 320) as of 31 December 2020. Approx. 35% of the Metformin Expansion Project (MEP) has been paid as of December. The company has a strong balance sheet with an equity ratio of 85% and no interest-bearing debt.  

The Board proposes a dividend of NOK 0.5 per share for 2020.

The fourth quarter conference call, which will be held today, 19th of February, at 8.30am (CET) and will be available via web and audio through the following access points:

Telephone conference:
Confirmation Code:........ 3067548
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/c6wg4zco

The conference call will be held in Norwegian.
       

Please find the Q4 report and presentation enclosed. The report will also be made available on www.vistin.com.

*****

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

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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