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XVIVO Perfusion AB (publ) Inte...

XVIVO Perfusion AB (publ) Interim Report January – September 2018

GOOD SALES GROWTH DRIVEN BY WARM PERFUSION

THIRD QUARTER 2018 (JUL – SEP)

• Total net sales in the quarter amounted to SEK 40.9 (32.3) million, corresponding to an increase of 27 percent. The increase corresponds to 18 percent in local currency. Net sales of non-durable goods in the quarter amounted to SEK 40.3 (31.6) million, corresponding to an increase of 27 percent in SEK. Sales of non-durable goods increased by 18 percent in local currency.
• Sales from warm perfusion* showed a growth record of more than 60 percent during the quarter. Sales from warm perfusion represented 40 percent (30) of sales of non-durable goods.
• Operating income before depreciation and amortization (EBITDA) amounted to SEK 5.2 (4.1) million, corresponding to an EBITDA margin of 13 percent. In comparison the operating income before depreciation and amortization (EBITDA) for the same quarter 2017, excluding items affecting comparability, amounted to SEK 4.4 million, corresponding to an EBITDA margin, excluding items affecting comparability, of 14 percent.
• Operating income amounted to SEK 0.7 (0.4) million, after amortization and depreciation of SEK 4.5 (3.7) million.
• Net income amounted to SEK 0.1 (-0.4) million, resulting in earnings per share of SEK 0.00 (-0.01).
• Cash flow from operating activities was SEK 3.7 (7.6) million.
• Pefadex Plus, an improved version of Perfadex, has been launched in the USA
• XVIVO’s new prototype of a heart preservation machine has been pre-clinically tested with good results.

THE PERIOD 2018 (JAN – SEP)

• Total net sales amounted to SEK 129.5 (106.8) million, corresponding to an increase of 21 percent. The increase corresponds to 19 percent in local currency. Net sales of non-durable goods for the period amounted to SEK 120.4 (101.6) million, corresponding to an increase of 19 percent in SEK. Sales of non-durable goods increased by 16 percent in local currency.
• Sales from warm perfusion* represented 40 percent (32) of sales of non-durable goods.
• Operating income before depreciation and amortization (EBITDA) amounted to SEK 20.4 (13.4) million, corresponding to an EBITDA margin of 16 percent. In comparison the operating income before depreciation and amortization (EBITDA) for the same period 2017, excluding items affecting comparability, amounted to SEK 15.7 million, corresponding to an EBITDA margin, excluding items affecting comparability, of 15 percent.
• Operating income amounted to SEK 7.9 (2.4) million, after amortization and depreciation of SEK 12.6 (11.1) million.
• Net income amounted to SEK 7.8 (0.7) million, resulting in earnings per share of SEK 0.30 (0.03).
• Cash flow from operating activities was SEK 26.0 (14.3) million.
• PMA application for STEEN Solution ™ and XPS™ was filed with the FDA.
• Perfadex Plus, an upgraded version of Perfadex, has been launched in Europe and the USA.
• Analysis of the PrimECC ®-study showed that the product is safe and showed positive clinical results.
• United Therapeutics and XVIVO Perfusion initiated a collaboration and United Therapeutics intends to use XVIVO Perfusion’s products in their organ assessment services.
• SEK 19 million share issue as a result of warrants being exercised.
• Reimbursement codes (so called CPT codes) have been valid in the USA since 1 January, 2018. The new codes simplify the reimbursement process for hospitals on the American market.
• 4 XPS™ were delivered during the period. At the end of the period 47 hospitals had access to either XPS™ or LS™.

CONFERENCE CALL

CEO Magnus Nilsson will present the report in a conference call at 2 p.m. CET on Friday, October 26, 2018. Telephone UK: +44 (0) 3333 0008 04 or USA: +1 631 913 1422, enter code 83059919#.

October 26, 2018
Gothenburg
XVIVO Perfusion AB (publ)
Magnus Nilsson, CEO
 

* STEEN Solution™ and products and services related to XPS™ and LS™. 

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