{"id":2665,"date":"2023-04-24T05:30:00","date_gmt":"2023-04-24T05:30:00","guid":{"rendered":"https:\/\/www.xvivogroup.com\/us\/mfn_news\/xvivo-presents-interim-report-january-march-2023\/"},"modified":"2023-04-24T05:30:00","modified_gmt":"2023-04-24T05:30:00","slug":"xvivo-presents-interim-report-january-march-2023","status":"publish","type":"mfn_news","link":"https:\/\/www.xvivogroup.com\/us\/pressreleases\/xvivo-presents-interim-report-january-march-2023\/","title":{"rendered":"XVIVO presents interim report January-March 2023"},"content":{"rendered":"
\n

Record quarter for sales and gross margin<\/strong><\/p>\n<\/div>\n

\n

First quarter 2023 (Jan 1 \u2013 Mar 31)<\/strong>
\u2022 Net sales amounted to SEK 140.6 million (92.7), corresponding to an increase of 52 percent in SEK and 39 percent adjusted for currency effects. Organic growth accounted for 34 percent and acquired growth for 5 percent.
\u2022 All business areas delivered underlying growth adjusted for currency effects: Thoracic 23 percent, Abdominal 85 percent and Services 81 percent.
\u2022 The gross margin for disposables increased to 81 percent (79). The total gross margin rose to 75 percent (70).
\u2022 Operating income (EBIT) amounted to SEK 11.2 million (4.6). Adjusted EBIT amounted to SEK 12.5 million (5.3).
\u2022 Operating income before depreciation and amortization (EBITDA) amounted to SEK 23.6 million (14.7) corresponding to an EBITDA margin of 17 percent (16). Adjusted operating income before depreciation and amortization (EBITDA) amounted to SEK 24.9 million (15.4), corresponding to an adjusted EBITDA margin of 18 percent (17).
\u2022 Net income amounted to SEK 14.2 million (4.8).
\u2022 Earnings per share amounted to SEK 0.48 (0.16).
\u2022 Cash flow from operating activities was SEK -12.4 million (-9.3), primarily due to the payment of personnel related operating liabilities earned in 2022. Total cash flow amounted to SEK -48.4 million (-63.6), impacted by investments in R&D projects of SEK -22.6 million.<\/p>\n

V\u00e4sentliga h\u00e4ndelser under kvartalet<\/strong>
\u2022 Successful integration of Avionord M&P.
\u2022 Great interest in Australia and New Zealand for XVIVO's heart technology. Approximately 25 percent of the countries' heart transplants were performed using our technology during the quarter.
\u2022 In a pre-clinical study published in The Journal of Heart and Lung Transplantation, benefits of XVIVO's heart preservation technology have now been demonstrated also in donation after circulatory death (DCD).
\u2022 Strengthened proof of the benefits of cold oxygenized perfusion of liver in donation after brain death (DBD) demonstrated in large multicenter study published in Journal of Hepathology.<\/p>\n

CEO Comment<\/strong>
\u201cIn summing up the first quarter, it can be concluded that our dedicated, focused efforts in recent years are paying off in the form of strong growth, good margins and the achievement of significant milestones in heart and liver. To continue this journey, the company will focus even more clearly on developing its current business, continue the launch of Kidney Assist Transport in the US and Europe, and obtain regulatory approval for our heart technology in the EU, Australia and the US as well as receiving a regulatory FDA approval for our liver technology in the US. We will strengthen our focus on enabling more patients\u2019 lives to be saved and on one day achieving our vision that nobody should die waiting for a new organ.\u201d
– Christoffer Rosenblad, CEO<\/p>\n<\/div>\n

\n

For further information, please contact:<\/strong><\/p>\n\n

Christoffer Rosenblad, CEO, +46 73 519 21 59, e-mail: christoffer.rosenblad@xvivogroup.com
Kristoffer\u00a0Nordstr\u00f6m, CFO, +46 73 519 21 64, e-mail:\u00a0kristoffer.nordstrom@xvivogroup.com<\/p>\n<\/div>\n

\n

About Us<\/strong><\/p>\n\n

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\/us.<\/p>\n<\/div>\n

\n

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 2023-04-24 07:30 CEST.<\/em><\/p>\n<\/div>\n

\n

Attachments<\/strong><\/p>\n\n

XVIVO Interim Report Q1 2023<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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