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XVIVO Perfusion
  • Contact us
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  • Home
  • Technology
    • Introduction to Ex Vivo Lung Perfusion
    • The Ex Vivo Lung Perfusion Process
    • Clinical
    • Protocols
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    • EVLP with Manual method
    • EVLP with XPS™
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    • XPS Disposable Lung Kit™
    • Steen Solution™
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    • XVIVO
      Silicone Tubing Set™
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      Organ Chamber™
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      Lung Cannula Set™
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CONTINUED STRONG SALES GROWTH AND SEK 73 MILLION PRIVATE PLACEMENT

SECOND QUARTER 2014 (APR – JUN)

• Net sales in the quarter amounted to SEK 18.5 (15.8) million, corresponding to an increase of 17 percent in SEK. Sales increased by 15 percent in local currency.

• Operating income before depreciation and amortization (EBITDA) amounted to SEK 1.8 (2.4) million, corresponding to an EBITDA margin of 10 percent.

• Net income amounted to SEK 0.8 (1.7) million, resulting in earnings per share of SEK 0.04 (0.09).

• Cash flow from operating activities was SEK 0.8 (3.9) million.

• STEEN Solution™ and related products accounted for 23 (13) percent of total sales.

• Investment in future sales growth is done through research and development of new indications for STEEN Solution ™

• The board of directors resolved to issue new shares through a SEK 73 million private placement directed to a group of qualified Swedish and international investors in order to facilitate a faster build-up of the company’s working capital for the US and European launch of XPS™ and STEEN Solution™ and also for investment in new indications.

THE PERIOD 2014 (JAN – JUN)

• Net sales in the period amounted to SEK 36.7 (32.1) million, corresponding to an increase of 14 percent in SEK. Sales increased by 12 percent in local currency.

• Operating income before depreciation and amortization (EBITDA) amounted to SEK 4.9 (6.1) million, corresponding to an EBITDA margin of 13 percent.

• Net income amounted to SEK 2.6 (4.1) million, resulting in earnings per share of SEK 0.13 (0.21).

• Cash flow from operating activities was SEK -2.6 (7.9) million due to changes in trade payables that amounted to SEK -3.3 million and paid taxes that amounted to SEK -3.6 million.

• STEEN Solution™ and related products accounted for 24 (14) percent of total sales.

• The Advisory Panel convened by the FDA voted unanimously, by 10 votes to 0, that the XPS™ System with STEEN Solution™ meets the requirements for HDE (Humanitarian Device Exemption) approval.

• XPS™ (Xvivo Perfusion System) received a CE mark, allowing XPS™ and the accompanying single-use products to be sold in Europe.

• The first lung transplant in Turkey using a lung treated with the STEEN Solution™ method was performed at Sureyyapasa Teaching Hospital.

• The board of directors resolved to issue new shares through a SEK 73 million private placement directed to a group of qualified Swedish and international investors in order to facilitate a faster build-up of the company’s working capital for the US and European launch of XPS™ and STEEN Solution™ and also for investment in new indications.

SIGNIFICANT EVENTS AFTER THE END OF THE QUARTER

• XVIVO has received market approval from the FDA for STEEN Solution™ and XPS™.

• XVIVO Perfusion’s share warrant program 2014/2016, offered to employees, was fully subscribed.

• The private placement increased the number of shares and votes in XVIVO Perfusion by 1,950,000 from 19,562,769 to 21,512,769.

CONFERENCE CALL

CEO Magnus Nilsson will present the report in a conference call at 2 p.m. CET on Wednesday, August 13, 2014. Telephone: +44 (0) 1452 558567, enter code 67955875.

For further information please contact:

Christoffer Rosenblad, CFO, +46 31 788 21 59, christoffer.rosenblad@xvivoperfusion.com
For further information on XVIVO Perfusion’s business, please refer to the company’s website, www.xvivoperfusion.com

The information was submitted for publication on August 13, 2014 at 8:30 a.m.

This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.

About us

XVIVO Perfusion is a medical technology company focused on developing optimized solutions for organ, tissue and cell preservation in connection with transplantation.

Contact

Swedish Office
XVIVO Perfusion AB
Box 53015
SE-400 14 Göteborg
Sweden

Phone: +46 31 788 21 50
Fax: +46 31 788 21 69
info@xvivoperfusion.com

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