Interim Report January-March 2024
*GOTHENBURG, SWEDEN / ACCESSWIRE / April 24, 2024 / *XVIVO Perfusion AB (STO:XVIVO)(LSE:0RKL)(FRA:3XV)
*First quarter 2024 (Jan 1 - Mar 31)*
• Net sales amounted to SEK 186.0 million (140.6), corresponding to an increase of 32 percent in SEK and equivalent increase, 32 percent, adjusted for currency effects.
• All business areas delivered underlying sales growth adjusted for currency effects: Thoracic disposables 39 percent, Abdominal disposables 46 percent and Services 11 percent.
• Gross margin for disposables amounted to 79 percent (81). The total gross margin was 73 percent (75).
• Operating income (EBIT) increased to SEK 19.0 million (11.2). Adjusted EBIT increased to SEK 19.9 million (12.5).
• Operating income before depreciation and amortization (EBITDA) increased to SEK 36.0 million (23.6) corresponding to an EBITDA margin of 19 percent (17). Adjusted operating income before depreciation and amortization (EBITDA) increased to SEK 36.9 million (24.9), corresponding to an adjusted EBITDA margin of 20 percent (18).
• Net profit amounted to SEK 22.8 million (14.2).
• Earnings per share amounted to SEK 0.72 (0.48).
• Cash flow from operating activities totaled SEK 1.6 million (-12.4) and was positively affected by stronger EBITDA but negatively affected by increased working capital tied up from increased sales. Total cash flow amounted to SEK -43.3 million (-48.4) impacted primarily by investments in R&D projects of SEK -24.3 million.
*Significant events during the quarter*
• First-ever transplantation of a donor heart transported across the Atlantic - made possible by the use of XVIVO's heart technology.
• Study in extended perfusion times of liver using XVIVO's Liver Assist shows livers can be preserved up to 20 hours.
*Significant events after the end of the period*
• Results from XVIVO's European clinical trial, NIHP2019, in heart preservation presented at ISHLT in Prague.
*CEO-comment*
"The year started with significant advances in heart preservation. This strengthens our belief that the XVIVO Heart Assist Transport will play a key role in heart transplantation globally. The first quarter started strongly financially: Net sales totaled SEK 186 million with growth in local currency of 32 percent. Progress was driven by increased transplant activity and strong momentum in the lung and liver business. When summarizing the first quarter, it can be concluded that our recent goal-oriented work is paying off in the form of strong growth, positive margins and success achieved together with our customers and partners. Our continued razor-sharp focus on commercial implementation and advances in development projects will lead to more patient lives being saved and help us move closer to realizing our vision that nobody should die waiting for a new organ." - Christoffer Rosenblad, CEO
*For further information, please contact:*
Christoffer Rosenblad, CEO, +46 73 519 21 59, e-mail: christoffer.rosenblad@xvivogroup.com
Kristoffer Nordström, CFO, +46 73 519 21 64, e-mail: kristoffer.nordstrom@xvivogroup.com
*Conference Call*
Christoffer Rosenblad, CEO and Kristoffer Nordström, CFO, will present the report in a conference call today at 2 PM CET. For registration to the conference call, see information in previous press release: https://www.xvivogroup.com/pressreleases/conference-call-on-interim-report-28/
*About Us*
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 2024-04-24 07:30 CEST.
*Attachments*
XVIVO Interim Report Q1 2024
*SOURCE:* XVIVO Perfusion AB
View the original press release on accesswire.com