STRONG GROWTH IN WARM PERFUSION AND PROGRESS IN THE R&D PORTFOLIO

FIRST QUARTER 2019 (JAN – MAR)
  • Net sales of non-durable goods in the quarter amounted to SEK 46.8 (37.9) million, corresponding to an increase of 24 percent in SEK and 13 percent in local currency. Total net sales (incl. durable goods) in the quarter amounted to SEK 47.7 (42.5) million, corresponding to an increase of 12 percent in SEK and 3 percent in local currency.  
  • Sales from warm perfusion represented 43 percent (35) 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 8.8 million (7.2), corresponding to an EBITDA margin of 18 percent (17). Reported EBITDA amounted to SEK 3.2 (7.2) million, corresponding to an EBITDA margin of 7 percent (17).
  • Operating income adjusted for the share-based bonus program was SEK 3.7 million (3,1). Reported operating income amounted to SEK -1.9 (3.1) million, after amortization and depreciation of SEK 5.1 (4.0) million.
  • Net income amounted to SEK -0.3 (3.8) million, resulting in earnings per share of SEK -0.01 SEK (0.15).
  • Cash flow from operating activities during the quarter amounted to SEK 0.1 (9.1) million, mainly due to increased working capital tied up in durable goods in inventories of SEK -10.3 million. Cash flow from investing activities amounted to SEK -11.7 (-10,9) million.
  • Reimbursement for the whole EVLP process has been approved in France.

EVENTS AFTER PERIOD END 

  • At ISHLT, XVIVO's heart preservation machine was showed for the first time to the world's leading heart transplant surgeons. 
  • At ISHLT, the good results from the first six heart transplant patients from the study at Lund University Hospital were also presented. The results of the study indicate that the method is safe for clinical use, and that larger randomized studies can be initiated with the heart preservation method.

CONFERENCE CALL

CEO Magnus Nilsson will present the report in a conference call at 2 p.m. CET on Wednesday, April 24, 2019. Telephone UK: +44 333 300 9031 or USA: +1 833 823 0590. 

April 24, 2019
Gothenburg
XVIVO Perfusion AB (publ)
Magnus Nilsson, CEO 

For further information please contact:

Christoffer Rosenblad, CFO, +46 735 192159, 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.  The information was submitted for publication, through the agency of the contact person set out above, at 07:00 am CET on April 24, 2019.

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