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    • Introduction to Ex Vivo Lung Perfusion
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STRONG GROWTH AND DOUBLED EBITDA EXKLUSIVE ONE-TIME EXPENSES

FOURTH QUARTER 2014 (OCT – DEC)

 • Net sales in the quarter amounted to SEK 25.5 (20.0) million, corresponding to an increase of 28 percent.
• Operating income before depreciation and amortization (EBITDA) excluding one-time expenses amounted to SEK 5.9 (3.0) million, corresponding to an EBITDA margin of 23 percent. One-time expenses of SEK 2.8 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 3.1 (3.0) million, corresponding to an EBITDA margin of 12 percent.
• Net income amounted to SEK -0.3 (2.4) million, resulting in earnings per share of SEK -0.01 (0.12).
• Cash flow from operating activities was SEK -5.4 (7.1) million due to increased working capital effecting cash flow by -7.8 SEK million.
• Net sales for consumables in the quarter amounted to SEK 25.5 (20.0) million, corresponding to an increase of 28 percent in SEK. Sales for consumables increased by 17 percent in local currency.
• Products for warm perfusion (STEEN Solution™ and products related to the use of the XPS™) accounted for 34 (21) percent of the total sales of consumables.
• Two XPS™ contracts were signed during the quarter.
• XVIVO has received Vinnova financing for cancer research in Europe.
• The Arbitration Board ruled that XVIVO does not have agreement rights to three Vivoline patents/patent applications, pursuant to the improvement clause in the current agreement that the company has with Igelösa. The company’s own products, STEEN Solution™, which is protected by patents that are valid until 2021, and Perfadex® are not part of the dispute.

THE PERIOD 2014 (JAN – DEC)

 • Net sales in the period amounted to SEK 84.7 (68.9) million, corresponding to an increase of 23 percent.
• Operating income before depreciation and amortization (EBITDA) excluding one-time expenses amounted to SEK 15.7 (13.0) million, corresponding to an EBITDA margin of 19 percent. One-time expenses of SEK 4.3 million related to the dispute regarding three Vivoline patents/patent applications have been charged against the period.
• Operating income before depreciation and amortization (EBITDA) amounted to SEK 11.4 (13.0) million, corresponding to an EBITDA margin of 13 percent.
• Net income amounted to SEK 3.7 (8.1) million, resulting in earnings per share of SEK 0.18 (0.41).
• Cash flow from operating activities was SEK -3.7 (13.5) million and was affected by increased working capital of -10.5 SEK million and paid taxes of SEK -4.6 million.
• Net sales for consumables in the period amounted to SEK 83.2 (68.9) million, corresponding to an increase of 21 percent in SEK. Sales for consumables increased by 15 percent in local currency.
• Products for warm perfusion (STEEN Solution™ and products related to the use of the XPS™) accounted for 27 (16) percent of the total sales of consumables.
• XPS™ (Xvivo Perfusion System) received a CE mark, allowing XPS™ and the accompanying single-use products to be sold in Europe.
• The FDA granted marketing approval for XPS™ and STEEN Solution™, allowing STEEN Solution™, XPS™ and the accompanying single-use products to be sold in the US.
• XVIVO Perfusion completed a share issue through a private placement of SEK 73 million.

SIGNIFICANT EVENTS AFTER THE END OF THE QUARTER

 • Two XPS™ contracts were signed after the end of the quarter in addition to the twp contracts signed during quarter four.

CONFERENCE CALL

 CEO Magnus Nilsson will present the report in a conference call at 2 p.m. CET on Thursday, February 5, 2015. Telephone: +44 (0) 1452 555566, enter code 56175829.

February 5, 2015
Gothenburg

XVIVO Perfusion AB (publ)
Magnus Nilsson, CEO

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 February 5, 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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