Second quarter and first half of 2022

Oslo, Norway, 19e from August 2022

Vistin Pharma ASA (Vistin Pharma, OSE: VISTIN) today announces financial results for the second quarter of 2022

Second quarter revenue ended at MNOK 69 compared to MNOK 67 in Q2 2021, an increase of 3%. Sales volume for the quarter down c. 11% compared to Q2’21, due to limited sales volume available.

Second quarter EBITDA ended at MNOK 4.7 (Q2’21: MNOK 13.4). EBITDA adversely impacted by limited sales volume available, new line start-up costs, foreign exchange rates and record power prices during the quarter. The financial result should continue to improve in the coming quarters, with more volumes available for sale.

Net profit ended at MNOK 0.2 (Q2’21: MNOK 8.1) for the second quarter of 2022.

Production line #1 produced according to plan during the quarter, but at a slightly reduced capacity due to a planned 5-day maintenance shutdown and production optimization with two lines. The new line #2 produced at reduced capacity as part of the volume ramp-up phase. Capacity is expected to increase gradually during the third and fourth quarters and reach an annual capacity rate of >5,500 MT by the end of 2022. Annual capacity of approx. 7,000MT should be reached in 2023.

Vistin Pharma had net debt of 35 MNOK (Q2’21 MNOK net cash: 60) as of June 30, 2022. Due to higher volumes, there was a significant increase in working capital requirements in 1H’22 due to the stock of raw materials and the delay between the start of production of line #2 and the payment of customers. Cash flow should improve from the fourth quarter. A revolving credit facility has been established to manage the expected liquidity effects of the expansion and ongoing investments.

About. 80% of the Metformin Expansion Project (MEP) was paid for at the end of June and the cost of the project is on budget. The company has a strong balance sheet with an equity ratio of 70%.

The second quarter conference call, which will take place today, August 19, at 8:30 a.m. (CET), will be available via webcast and audio via the following access points:


Conference call (online registration):

The conference call will be conducted in English.

Please find attached the Q2 report and presentation. The report will also be available at


For more information, please contact:

Alexander Karlsen
+47 97 05 36 21
[email protected]

This information is subject to the disclosure requirements in accordance with Section 5-12 of the Norwegian Securities Act.

  • Vistin Pharma ASA Q2 2022 Presentation_

  • Vistin Pharma ASA second quarter report 2022

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