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XVIVO Perfusion
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Interim report January-June 2018

GOOD SALES GROWTH AND IMPORTANT MILESTONES PASSED

SECOND QUARTER 2018 (APRIL-JUNE)

  • Total net sales in the quarter amounted to SEK 46.1 (37.0) million, corresponding to an increase of 24 percent. The increase corresponds to 23 percent in local currency. Net sales of non-durable goods in the quarter amounted to SEK 42.2 (36.4) million, corresponding to an increase of 16 percent in SEK. Sales of non-durable goods increased by 14 percent in local currency
  • Operating income before depreciation and amortization (EBITDA) amounted to SEK 8.1 (5.7) million, corresponding to an EBITDA margin of 18 percent. In comparison the operating income before depreciation and amortization (EBITDA) for the same quarter 2017, excluding items affecting comparability, amounted to SEK 6.2 million, corresponding to an EBITDA margin, excluding items affecting comparability, of 17 percent.
  • Operating income amounted to SEK 4.0 (2.0) million, after amortization and depreciation of SEK 4.1 (3.7) million.
  • Net income amounted to SEK 3.9 (1.1) million, resulting in earnings per share of SEK 0.15 (0.04).
  • Cash flow from operating activities was SEK 13.1 (8.7) million.
  • Sales from warm perfusion* represented 43 percent (31) of sales of non durable goods.
  • 2 XPS™ were delivered during the quarter.
  • PMA application for STEEN Solution ™ and XPS™ was filed with the FDA.
  • Perfadex Plus, an upgraded version of Perfadex, has been launched in Europe and marketing approval (510k) in the USA was given by FDA.
  • Analysis of the PrimECC ®-study showed that the product is safe and showed positive clinical results.
  • United Therapeutics and XVIVO Perfusion initiated a collaboration and United Therapeutics intends to use XVIVO Perfusion’s products in their organ assessment services.
  • SEK 19 million share issue as a result of warrants being exercised.

THE PERIOD 2018 (JANUARY-JUNE)

  • Total net sales amounted to SEK 88.6 (74.5) million, corresponding to an increase of 19 percent. The increase corresponds to 20 percent in local currency.Net sales of non-durable goods for the period amounted to SEK 80.1 (70.0) million, corresponding to an increase of 14 percent in SEK. Sales of non-durable goods increased by 16 percent in local currency.
  • Operating income before depreciation and amortization (EBITDA) amounted to SEK 15.2 (9.4) million, corresponding to an EBITDA margin of 17 percent. In comparison the operating income before depreciation and amortization (EBITDA) for the same period 2017, excluding items affecting comparability, amounted to SEK 11.3 million, corresponding to an EBITDA margin, excluding items affecting comparability, of 15 percent.
  • Operating income amounted to SEK 7.1 (2.0) million, after amortization and depreciation of SEK 8.1 (7.4) million.
  • Net income amounted to SEK 7.7 (1.0) million, resulting in earnings per share of SEK 0.29 (0.04).
  • Cash flow from operating activities was SEK 22.3 (6.7) million.
  • Sales from warm perfusion* represented 39 percent (33) of sales of non durable goods.
  • Reimbursement codes (so called CPT codes) have been valid in the USA since 1 January, 2018. The new codes simplify the reimbursement process for hospitals on the American market.
  • 4 XPS™ were delivered during the period. At the end of the quarter 47 hospitals had access to either XPS™ or LS™.

CONFERENCE CALL

CEO Magnus Nilsson will present the report in a conference call at 2 p.m. CET on Friday, July 20, 2018. Telephone UK: +44 (0) 203 139 4830 or USA: +1 718 873 9077, enter code 63381754#. 

July 20, 2018
Gothenburg
XVIVO Perfusion AB (publ)
Magnus Nilsson, CEO

* STEEN Solution™ and products and services related to the use of XPS™ and LS™

For further information please contact:

Christoffer Rosenblad, CFO, +46 735 19 21 59, christoffer.rosenblad@xvivoperfusion.com
Magnus Nilsson, CEO, +46 31 788 2150, magnus.nilsson@xvivoperfusion.com

For further information on XVIVO Perfusion’s business, please refer to the company’s website, www.xvivoperfusion.com

This information is information that Xvivo Perfusion AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act.  The information was submitted for publication, through the agency of the contact person set out above, at 08:00 am CET on July 20, 2018.

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.

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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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