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XVIVO presents interim report January-March 2022
Strong sales growth and key milestones achieved
First quarter 2022 (1 Jan – 31 Mar)
• Net sales amounted to SEK 92.7 million (58.3), corresponding to an increase of 59 percent in SEK and 47 percent in local currencies
• All business areas showed underlying organic growth. Adjusted for currency effects; Thoracic 35 percent, Abdominal 21 percent and Services 53 percent. Acquired growth was 15 percent.
• Three XPS-machines were sold during the quarter.
• Gross margin on disposables improved to 79 percent (76). Total gross margin was 70 percent (74) affected by productmix.
• Operating profit before depreciation and amortization (EBITDA) amounted to SEK 14.7 million (11.2), corresponding to an EBITDA margin of 16 percent (19). Adjusted EBITDA amounted to SEK 15.4 million (6.3), corresponding to an adjusted EBITDA margin of 17 percent (11).
• Operating profit (EBIT) amounted to SEK 4.6 million (3.2). Adjusted EBIT amounted to SEK 5.3 million (-1.8).
• Net profit amounted to SEK 4.8 million (6.0). Earnings per share amounted to SEK 0.16 (0.21).
• Cash flow from operating activities amounted to SEK -9.3 million (10.3), primarily due to payment of employee current liabilities relating to 2021. Total cash flow amounted to SEK -63.6 million (-10.2), effected by payment of final additional purchase price for the acquisition of XVIVO B.V. SEK -21.0 million, and investments in R&D projects SEK -27.1 million.
Significant events during the quarter
• XVIVO’s heart technology used in the world’s first ever successful heart xenotransplant (pig to human)
• Kidney Assist Transport receives 510(k) clearance by US FDA
• XVIVO obtains its first certificate under EU Medical Device Regulation (MDR) for Kidney Assist Transport
• Regulatory approval in China for PERFADEX® Plus obtained
“It was an encouraging start to the year with a new sales record for a single quarter and significant interest in our XPS technology for lungs, which resulted in three sold XPS machines. Due to strong sales and margin improvements in both Thoracic and Abdominal, profitability in the quarter was good. Furthermore, the quarter delivered several key milestones including the xenotransplantation of a heart from a pig to a human, which had extensive media coverage, and the FDA clearance of Kidney Assist Transport in the US – the world’s largest market for kidney transplants.” – Dag Andersson, CEO XVIVO
For further information, please contact:
Dag Andersson, CEO, +46 76 643 30 31, e-mail: firstname.lastname@example.org
Kristoffer Nordström, CFO, +46 73 519 21 64, e-mail: email@example.com
CEO Dag Andersson och CFO Kristoffer Nordström will present the report in a conference call today at 2 PM CET. Telephone UK: +44 333 300 0804, USA: +1 631 913 1422 or Sweden: +46 8 566 426 51 PIN: 20185387#
Founded in 1998, XVIVO is the only medical technology company dedicated to extending the life of all major organs – so transplant teams around the world can save more lives. Our solutions allow leading clinicians and researchers to push the boundaries of transplantation medicine. XVIVO is headquartered in Gothenburg, Sweden, and has offices and research sites on two continents. The company is listed on Nasdaq and has the ticker symbol XVIVO. More information can be found on the website www.xvivogroup.com.
This information is information that XVIVO Perfusion AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2022-04-25 07:30 CEST.