{"id":2991,"date":"2017-10-27T06:00:00","date_gmt":"2017-10-27T06:00:00","guid":{"rendered":"https:\/\/www.xvivogroup.com\/us\/mfn_news\/xvivo-perfusion-publ-interim-report-january-september-2017\/"},"modified":"2017-10-27T06:00:00","modified_gmt":"2017-10-27T06:00:00","slug":"xvivo-perfusion-publ-interim-report-january-september-2017","status":"publish","type":"mfn_news","link":"https:\/\/www.xvivogroup.com\/us\/pressreleases\/xvivo-perfusion-publ-interim-report-january-september-2017\/","title":{"rendered":"XVIVO Perfusion (publ) Interim Report January \u2013 September 2017"},"content":{"rendered":"<div class=\"mfn-preamble\"><strong>CONTINUED GROWTH AND PROGRESS IN THREE DEVELOPMENT PROJECTS<\/strong><\/div>\n<p><strong><span>THIRD QUARTER 2017 (JUL &#8211; SEP)<\/span><\/strong><\/p>\n<ul>\n<li><span>Net sales of non-durable goods in the quarter amounted to SEK 31.6 (29.1) million, corresponding to an increase of 8 percent in SEK. Sales of non-durable goods increased by 11 percent in local currency.<\/span><span> <\/span><span>Net sales in the quarter amounted to SEK 32.3 (31.7) million, corresponding to an increase of 2 percent.<\/span><span> The increase corresponds to 4<\/span><span> percent in local currency. <\/span>\u00a0<\/li>\n<li><span>Operating<\/span><span> income before depreciation and amortization (<\/span><span>EBITDA), excluding items affecting comparability, amounted to SEK 4.4 (5.4) million, corresponding to an EBITDA margin of 14 percent. Items affecting comparability of SEK 0.4 (2.7) million, related to the acquisition and integration of Vivoline, have been charged against the quarter. <\/span><span>EBITDA amounted to SEK 4.1 (2.7) million, corresponding to an EBITDA margin of 13 percent<\/span><span>. <\/span><\/li>\n<li><span>Operating income<\/span><span> amounted to SEK 0.4 (-0.7) million, after amortization and depreciation of SEK 3.7 (3.5) million was charged against the quarter.<\/span>\u00a0<\/li>\n<li><span>Net income amounted to SEK -0.4 (-0.6) million, resulting in earnings per share of SEK -0.01 (-0.02). <\/span>\u00a0<\/li>\n<li><span>Cash flow from operating activities was SEK 7.6 (5.4) million.<\/span><\/li>\n<li><span>Warm perfusion sales from non-durable goods (STEEN Solution\u2122, products and services related to the use of the XPS\u2122 and LS\u2122*) accounted for 30 (29) percent of the total sales of non-durable goods.<\/span>\u00a0<\/li>\n<li><span>Inclusion of all 220 (110 + 110) patients is now completed in the NOVEL study which is being carried out in the US on STEEN Solution\u2122 and XPS\u2122. This clinical study will form the basis of the company\u2019s PMA (Pre-market Approval) application to the FDA. STEEN Solution\u2122 and XPS\u2122 have already been approved for sales in the US under an HDE (Humanitarian Device Exemption) approval. <\/span>\u00a0<\/li>\n<li><span>Recruitment is completed for the PrimECC<sup>\u00ae<\/sup> study at Sahlgrenska University Hospital. The study intends to expand the clinical documentation for PrimECC<sup>\u00ae<\/sup> and included a total of <\/span><span>80 (40 + 40)<\/span><span> patients. <\/span>\u00a0<\/li>\n<li><span>The first clinical heart transplant using the<\/span><span> heart preservation technology<\/span><span> developed by XVIVO\u00b4s partner Professor Stig Steen was performed during the quarter. His research has resulted in a <\/span><span>heart preservation technology<\/span><span> that makes it possible to transport and store the donor heart in a more optimized way than before. Earlier animal experiments have shown that the method has the potential to extend the time that the heart is stored outside the body (Ex Vivo). <\/span><\/li>\n<\/ul>\n<p><span> <\/span><strong>\u00a0<\/strong><\/p>\n<p><strong><span>THE PERIOD 2017 (JAN &#8211; SEP)<\/span><\/strong><\/p>\n<ul>\n<li><span>Net sales of non-Durable goods in the period amounted to SEK 101.6 (88.0) million, corresponding to an increase of 15 percent in SEK. Sales of non-Durable goods increased by 13 percent in local currency.<\/span><span> <\/span><span>Net sales in the period amounted to SEK 106.8 (99.8) million, corresponding to an increase of 7 percent.<\/span><span> The increase corresponds to 4<\/span><span> percent in local currency. <\/span>\u00a0<\/li>\n<li><span>Operating<\/span><span> income before depreciation and amortization (<\/span><span>EBITDA), excluding items affecting comparability, amounted to SEK 15.7 (19.7) million, corresponding to an EBITDA, excluding items affecting comparability, margin of 15 percent. Items affecting comparability of SEK 2.3 (7.3) million, related to the acquisition and integration of Vivoline, have been charged against the period. <\/span><span>EBITDA amounted to SEK 13.4 (12.4) million, corresponding to an EBITDA margin of 13 percent<\/span><span>. <\/span><\/li>\n<li><span>Operating income<\/span><span> amounted to SEK 2.4 (2.7) million, after amortization and depreciation of SEK 11.1 (<\/span><span>9.7<\/span><span>) million was charged against the period.<\/span>\u00a0<\/li>\n<li><span>Net income amounted to SEK 0.7 (2.1) million, resulting in earnings per share of SEK 0.03 (0.09). <\/span>\u00a0<\/li>\n<li><span>Cash flow from operating activities was SEK 14.3 (18.7) million.<\/span><\/li>\n<li><span>Warm perfusion sales from non-durable goods (STEEN Solution\u2122, products and services related to the use of the XPS\u2122 and LS\u2122*) accounted for 32 (31) percent of the total sales of non-Durable goods.<\/span>\u00a0<\/li>\n<li><span>A Private Placement was fully subscribed by the Third AP Fund, Norron, Swedbank Robur and the Fourth AP Fund and it raised approximately SEK 181 million before issue costs<\/span><span>.<\/span>\u00a0<\/li>\n<li><span>Two XPS\u2122 were sold during the period; one XPS\u2122 to Australia and one XPS\u2122 to the Netherlands. Both countries are new countries with an XPS\u2122. At the end of the period 45 clinics had access to the XPS\u2122 or LS\u2122.<\/span><span>\n<p> <\/span><\/li>\n<\/ul>\n<p><strong><span>CONFERENCE CALL<\/span><\/strong><strong>\u00a0<\/strong><\/p>\n<p><span><span>CEO Magnus Nilsson will present the report in a conference call at 2 p.m. CET on Friday, October 27, 2017. Telephone UK: +44 (0) 203\u00a0139 4830 or USA: +1 718 873 9077, enter code 20105534#.<\/span><\/span><\/p>\n<p><span>October 27, 2017<br \/> Gothenburg <br \/> XVIVO Perfusion AB (publ)<br \/> Magnus Nilsson, CEO<\/span>\u00a0<\/p>\n<p><span>* Vivoline\u2019s EVLP machine.\u00a0<\/span><\/p>\n<div class=\"mfn-footer\">\n<p><span>For further information please contact:<\/span><\/p>\n<p><span>Christoffer Rosenblad, CFO, +46 735 192159, christoffer.rosenblad@xvivoperfusion.com<br \/>Magnus Nilsson, CEO, +46 31 788 2150, magnus.nilsson@xvivoperfusion.com<\/span><br \/><span>For further information on XVIVO Perfusion\u2019s business, please refer to the company\u2019s website, www.xvivoperfusion.com<\/span><\/p>\n<p><span>This information is information that Xvivo Perfusion AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation.\u00a0\u00a0The information was submitted for publication, through the agency of the contact person set out above, at 08:00 am CET on October 27, 2017.<\/span><\/p>\n<p><span>This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>CONTINUED GROWTH AND PROGRESS IN THREE DEVELOPMENT PROJECTS THIRD QUARTER 2017 (JUL &#8211; SEP) Net sales of non-durable goods in&#8230;<\/p>\n","protected":false},"template":"","class_list":["post-2991","mfn_news","type-mfn_news","status-publish","hentry","mfn-news-tag-mfn","mfn-news-tag-mfn-type-ir","mfn-news-tag-mfn-lang-en","mfn-news-tag-mfn-regulatory","mfn-news-tag-mfn-regulatory-mar","mfn-news-tag-mfn-report","mfn-news-tag-mfn-report-interim","mfn-news-tag-mfn-report-interim-q3"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>XVIVO Perfusion (publ) Interim Report January \u2013 September 2017 - XVIVO<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.xvivogroup.com\/us\/pressreleases\/xvivo-perfusion-publ-interim-report-january-september-2017\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"XVIVO Perfusion (publ) Interim Report January \u2013 September 2017 - XVIVO\" \/>\n<meta property=\"og:description\" content=\"CONTINUED GROWTH AND PROGRESS IN THREE DEVELOPMENT PROJECTS THIRD QUARTER 2017 (JUL &#8211; 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