Vistin Pharma ASA : 11 per cent revenue growth in third quarter 2018

Oslo, Norway, 25 October 2018

Vistin Pharma delivered a revenue growth of 11 percent from NOK 46.7 million in the third quarter 2017 to NOK 51.7 million in the third quarter 2018. The underlying demand for metformin is strong. The EBITDA from the pharmaceutical business came to NOK 4.9 million for the quarter, compared to NOK 5.5 million in the same quarter last year. The EBITDA from the Energy Trading business, which commenced operations in the second quarter, came to negative NOK 2.4 million in the third quarter.  EBT from continuing operations for the third quarter came to negative NOK 3.8 million, which includes an unrealised loss on oil derivatives of NOK 2.4 million, compared to a profit of NOK 7.4 million in the same quarter last year.   

Vistin Pharma had cash of NOK 330.6 million as of 30 September 2018. The Company holds no interest-bearing debt.

The listing of the shares in Vistin Pharma was transferred from Oslo Axess to Oslo Børs on 3 October.

Vistin Pharma will host a conference call for all interested parties today at 13:00 CEST. CEO Kjell-Erik Nordby, Head of Energy Trading Torbjørn Kjus and CFO Gunnar Manum will represent the Company at the conference call. There will be a Q&A session following the management discussion.

PARTICIPANTS DIAL IN TELEPHONE NUMBERS
Norway             +47 23 50 02 96
UK                     +44 (0)330 336 9411
USA                   +1 646-828-8193

The confirmation code is 7992767.

Please find the report and presentation for the third quarter 2018 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

Torbjørn Kjus
Head of Energy Trading
+47 94 14 77 30
Torbjørn.kjus@vistin.com

Gunnar Manum
CFO
+47 95 17 91 90
gunnar.manum@vistin.com