Oslo, Norway, 19 February 2019
Vistin Pharma ASA (Vistin Pharma, OSE: VISTIN) today announces the financial results for the fourth quarter of 2018 in line with the business updates from the company on 4 and 8 January 2019.
The revenues for the fourth quarter 2018 ended at NOK 40.1 million (Q4 2017: NOK 41.3 million).
The loss from continuing operations ended at NOK -56.4 million (-6.8) in the fourth quarter 2018, mainly following the unrealised financial loss on oil derivatives of NOK 65.2 million for the period. Vistin Pharma announced in January 2019 to close the Energy Trading business and provided an update on the unrealised financial loss on 4 and 8 January 2019.
Vistin Pharma will continue to manage the outstanding financial derivative contracts, and some or all of these may be closed when the company believes this to be in the best interest of its shareholders.
Vistin Pharma had cash of NOK 320.7 million as of 31 December 2018, and no interest-bearing debt.
The fourth quarter conference call will be available via web and audio through the following access points:
Telephone conference:
Confirmation Code:........ 8759564
International Dial-In: ..... +44 (0) 2071 928000
Norway, Oslo................. 21563012
United States, New York. 16467740219
Webcast:
https://edge.media-server.com/m6/p/ustfvg7g
Please find the report for the fourth 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
Gunnar Manum
CFO
+47 95 17 91 90
gunnar.manum@vistin.com
About Vistin Pharma | www.vistin.com
Vistin Pharma is a Norwegian pharmaceutical company producing Metformin Hydrochloride (API). The Metformin is also available as Direct Compressible lubricated granules. As a solely dedicated European Metformin producer, Vistin Pharma is a well-positioned supplier to leading pharmaceutical companies. Vistin Pharma is headquartered in Oslo, Norway, and has highly qualified employees and a dedicated manufacturing facility in Kragerø.
