Vistin Pharma — Earnings Release 2021

Feb 17, 2022

Vistin Pharma ASA: Fourth quarter 2021 financial results

Vistin Pharma ASA: Fourth quarter 2021 financial results

Oslo, Norway, 17(th) of February 2022

Vistin Pharma ASA (Vistin Pharma, OSE: VISTIN) today announces the financial

results for the fourth quarter 2021

Revenue in fourth quarter ended at MNOK 78 compared to MNOK 64 in Q4 2020. The

revenue increase was driven by higher sales volume (+29%) and sales prices,

partly offset by a significant stronger NOK vs EUR compared to last year.

Fourth quarter EBITDA ended at MNOK 12.2 (Q4'20: MNOK 13.9) a 13% decrease

compared to similar quarter last year. The lower EBITDA in Q4'21 was driven by a

stronger NOK vs EUR, increased raw material prices, record high international

freight costs, bonus accrual and significantly higher electricity prices in the

quarter compared to last year. Currency neutral EBITDA in Q4'21 compared to

Q4'20 shows an increase of approx. 15%.

The net profit for the group ended at MNOK 7.2 (Q4'20: MNOK 8.6) for the fourth

quarter of 2021.

Vistin Pharma had cash of MNOK 36 (Q4'20 MNOK: 77) as of 31 December 2021.

Approx. 55% of the Metformin Expansion Project (MEP) has been paid as of end

December. The company has a strong balance sheet with an equity ratio of 83% and

no interest-bearing debt.

2021 had an all-time high sales volume of 3 748MT compared to 3 360MT in 2020,

an increase of 12%.

The fourth quarter conference call, which will be held today, 17th of February,

at 8.30am (CET) will be available via web and audio through the following access

points:

Telephone conference:

Confirmation Code:        7590346

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/jb9o62eq

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 (http://www.vistin.com).

*****

For further information, please contact:

Alexander Karlsen

CFO

+47 97 05 36 21

alexander.karlsen@vistin.com (mailto:alexander.karlsen@vistin.com)

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.