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Interim Report January – March 2015

STRONG GROWTH AND 6 XPS™ DELIVERED

FIRST QUARTER 2015 (JAN – MAR)

• Net sales in the quarter amounted to SEK 31.8 (18.3) million, corresponding to an increase of 74 percent.
• Operating income before depreciation and amortization (EBITDA) excluding one-time expenses amounted to SEK 4.5 (3.9) million, corresponding to an EBITDA margin of 14 percent. One-time expenses of SEK 1.7 (0.8) million related to the dispute regarding three Vivoline patents/patent applications have been charged against the quarter. Operating income before depreciation and amortization (EBITDA) amounted to SEK 2.8 (3.1) million, corresponding to an EBITDA margin of 9 percent.
• Net income amounted to SEK -1.0 (1.8) million, resulting in earnings per share of SEK -0.05 (0.09), affected by amortization and depreciation of 2.8 million.
• Cash flow from operating activities was SEK -5.9 (-3.3) million due to increased trade receivables effecting cash flow by -8.3 SEK million.
• Net sales of non-Durable goods* in the quarter amounted to SEK 25.1 (18.3) million, corresponding to an increase of 38 percent in SEK. Sales of non-Durable goods increased by 18 percent in local currency.
• Products for warm perfusion (STEEN Solution™ and products related to the use of the XPS™) accounted for 30 (24) percent of the total sales of non-Durable goods.
• During the quarter 6 XPS™ were delivered, of which 2 to Europe and 4 to the US. At the end of the quarter 19 clinics have access to the XPS™, of which 16 are located in the US.
• XVIVO Perfusion and Vivoline have reached an agreement whereby, amongst other things, XVIVO Perfusion withdraws its claim at Lund District Court and compensates Vivoline for trial costs. Through this agreement, the parties' differences in regard to the dispute have been definitively settled.
• XVIVO Perfusion has received TGA approval of XPS™ (Xvivo Perfusion System). This enables sales of XPS™ in Australia.
• The United States Patent and Trademark Office (USPTO) has approved a third patent in the “Preservation and evaluation solution” family.  This means that STEEN Solution™ has broader patent protection in the USA.

CONFERENCE CALL

CEO Magnus Nilsson will present the report in a conference call at 2 p.m. CET on Wednesday, April 22, 2015. Telephone: +44 (0) 1452 555566, enter code 15343045.

April 22, 2015
Gothenburg

XVIVO Perfusion AB (publ)
Magnus Nilsson, CEO

* Durable goods are sales revenues from the XPS™.

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 April 22, 2015 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.

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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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