A historic year ended with a quarter of sales records

FOURTH QUARTER 2019 (OCT – DEC)

•  Net sales of non-durable goods in the quarter amounted to SEK 59.4 (52.3) million, corresponding to an increase of 14 percent in SEK and 6 percent in local currency. Total net sales (incl. durable goods) in the quarter amounted to SEK 62.4 (58.4) million, corresponding to an increase of 7 percent in SEK and 0 percent in local currency.
• Net sales of non-durable goods in the quarter amounted to SEK 59.4 (52.3) million, corresponding to an increase of 14 percent in SEK and 6 percent in local currency. Total net sales (incl. durable goods) in the quarter amounted to SEK 62.4 (58.4) million, corresponding to an increase of 7 percent in SEK and 0 percent in local currency.
• Sales from warm perfusion represented 48 percent (50) of sales of non-durable goods.
• Operating income before depreciation and amortization (EBITDA) adjusted for costs for a share-based bonus program for employees outside Sweden amounted to SEK 8.3 million (9.7), corresponding to an EBITDA margin of 13 percent (17). Reported EBITDA amounted to SEK 8.5 (10.5) million, corresponding to an EBITDA margin of 14 percent (18).
• Reported operating income amounted to SEK 1.6 (6.1) million, after amortization and depreciation of SEK 6.9 (4.4) million.
• Operating income adjusted for the share-based bonus program was SEK 1.4 million (5.3).
• Net income amounted to SEK -1.9 (4.9) million, resulting in earnings per share of SEK -0.07 SEK (0.19).
• Cash flow from operating activities during the quarter amounted to SEK -7.2 (-2.4) million. Cash flow from investing activities amounted to SEK -26.3 (-11.9) million.
• Breakthrough Device Designation granted from the FDA for the XVIVO Heart Preservation System.
• An Australian subsidiary was established and a third XPS™ was delivered to the country.
• XVIVOs issue of warrants for employees of series 2019/2021 was fully subscribed. 

THE PERIOD 2019 (JAN – DEC)

• Net sales of non-durable goods in the period amounted to SEK 206,9 (172,7) million, corresponding to an increase of 20 percent in SEK and 12 percent in local currency. Total net sales (incl. durable goods) in the period amounted to SEK 220.8 (187.9) million, corresponding to an increase of 12 percent in SEK and 10 percent in local currency.
• Sales from warm perfusion represented 45 percent (43) of sales of non-durable goods.
• Operating income before depreciation and amortization (EBITDA) adjusted for costs for a share-based bonus program for employees outside Sweden amounted to SEK 35.8 million (33.7), corresponding to an EBITDA margin of 16 percent (18). Reported EBITDA amounted to SEK 28.8 (30.9) million, corresponding to an EBITDA margin of 13 percent (16).
• Reported operating income amounted to SEK 3.9 (14.0) million, after amortization and depreciation of SEK 24.9 (16.9) million. Operating income adjusted for the share-based bonus program was SEK 10.9 million (16.8).
• Net income amounted to SEK 4,9 (12.7) million, resulting in earnings per share of SEK 0.19 (0.48).
• Cash flow from operating activities for the period amounted to SEK 29.5 (23.6) million. Cash flow from investing activities amounted to SEK -83.8 (-53.2) million.
• XVIVO has received Premarket approval (PMA) from the FDA for STEEN Solution™ and XPS™. The PMA approval was the first of its kind in the world.
• Perfadex® Plus received patent approval in Europe.
• At ISHLT (International Society for Heart and Lung Transplantation), the positive results from the first six heart transplant patients from the study at Lund University Hospital were presented.
• XVIVO and MyCartis engage to develop a fast diagnostic test to assess the quality of donated organs before transplantation.
• XVIVO’s patents for the heart preservation fluid was approved in the US and Europe.
• The Swedish MPA has given approval to begin clinical studies with the company's new products for heart preservation. Applications have been submitted to all other participating EU countries.
• SEK 27 million shares was issued because of warrants being exercised.
• Reimbursement for the whole EVLP process granted in France.
• Five XPS™ were delivered during the period. At the end of the period 51 hospitals had access to either XPS™ or LS™. During the period, Canada became a new country with XPS™.