Vistin Pharma (VISTN) DNB Carnegie Nordic SMB Conference presentation summary

Market overview and demand trends

• Global diabetes prevalence is projected to rise from 589 million adults in 2024 to 853 million by 2050, with significant increases across all regions.

• Over USD 1 trillion was spent on diabetes in 2024, representing 12% of global health expenditure.

• Metformin is the first-line treatment for type 2 diabetes, with global API demand expected to grow at a 4-6% CAGR, reaching 104,000 metric tons by 2030.

• Asia Pacific is expected to see the largest volume growth in metformin demand.

Company operations and positioning

• Specializes in high-quality metformin API production, with over 6,000 metric tons installed capacity and a global market share of 8-10%.

• Manufacturing plant in Norway uses 100% renewable hydropower, offering a reduced carbon footprint and strong ESG profile.

• Exports 100% of production globally, serving over 20 million patients daily.

• Factory is approved by major international regulatory authorities.

Financial performance and shareholder returns

• Revenues have grown from MNOK 305 in 2021 to a projected MNOK 452 in 2025, with EBITDA also increasing.

• Earnings per share rose by ~200% from 2021 to 2025, with increasing annual dividends proposed up to NOK 1.50 per share in 2026.

• Maintains a strong balance sheet with a 75% equity ratio, no interest-bearing debt, and net cash of MNOK 16 at year-end 2025.