{"id":3033,"date":"2017-02-08T07:30:00","date_gmt":"2017-02-08T07:30:00","guid":{"rendered":"https:\/\/www.xvivogroup.com\/us\/mfn_news\/xvivo-perfusion-report-on-operations-2016\/"},"modified":"2017-02-08T07:30:00","modified_gmt":"2017-02-08T07:30:00","slug":"xvivo-perfusion-report-on-operations-2016","status":"publish","type":"mfn_news","link":"https:\/\/www.xvivogroup.com\/us\/pressreleases\/xvivo-perfusion-report-on-operations-2016\/","title":{"rendered":"XVIVO Perfusion Report on Operations 2016"},"content":{"rendered":"
CONTINUED SALES GROWTH, POSITIVE EBITDA, AND STRENGTHEN DEVELOPMENT PORTFOLIO<\/strong><\/div>\n

THE PERIOD 2016 (JAN \u2013 DEC)<\/span><\/p>\n

\u2022 Net sales in the quarter amounted to SEK 38.4 (32.7) million, corresponding to an increase of 18 percent. Growth amounted to 11 percent in local currency. The acquisition of Vivoline had a positive impact of SEK 2.8 million on sales.
\u2022 Operating income before depreciation and amortization (EBITDA), excluding items affecting comparability, amounted to SEK 6.7 (7.2) million, corresponding to an EBITDA margin of 17 percent. Items affecting comparability of SEK 3.1 (0.3) million, related to the Nasdaq Stockholm main market listing and the acquisition of Vivoline, have been charged against the quarter. EBITDA amounted to SEK 3.6 (6.9) million, corresponding to an EBITDA margin of 9 percent.
\u2022 Operating income amounted to SEK 0.0 (3.8) million, after amortization and depreciation of SEK 3.6 (3.1) million was charged against the quarter.
\u2022 Net income amounted to SEK -0.6 (2.8) million, resulting in earnings per share of SEK -0.02 (0.13).
\u2022 Cash flow from operating activities was SEK -6.2 (2.9) million, mainly affected by change in trade receivables of SEK -11.8 million from increased sales and prepaid insurance premiums.
\u2022 Total sales from warm perfusion (STEEN Solution\u2122, XPS\u2122, LS\u2122*, and products and services related to the use of the XPS\u2122 and LS\u2122) accounted for 43 (40) percent of the total sales.
\u2022 Four XPS\u2122 and LS\u2122 were delivered during the quarter; two XPS\u2122 went to the USA, and two LS\u2122 went to Spain.\u00a0 The LS\u2122 machine is new to Spain.
\u2022 During the quarter, XVIVO Perfusion acquired another 1.4 percent of the shares in the listed company Vivoline Medical AB, through the compulsory redemption process, whereby XVIVO Perfusion became the owner of 100 percent of the shares.
\u2022 XVIVO Perfusion AB\u2019s shares were admitted for trading on Nasdaq Stockholm main list on November 28, 2016. The company's shares will continue trading with the same short name and ISIN code.<\/span><\/p>\n

FOURTH QUARTER 2016 (OCT \u2013 DEC)<\/span><\/p>\n

\u2022 Net sales in the period amounted to SEK 138.2 (120.2) million, corresponding to an increase of 15 percent. Growth amounted to 13 percent in local currency. The acquisition of Vivoline had a positive impact of SEK 4.3 million on sales.
\u2022 Operating income before depreciation and amortization (EBITDA,) excluding items affecting comparability, increased by 27 percent and amounted to SEK 26.4 (20.8) million, corresponding to an EBITDA margin of 19 percent. Items affecting comparability of SEK 10.4 (2.0) million, related to the Nasdaq Stockholm main market listing and the acquisition of Vivoline, have been charged against the period. EBITDA amounted to SEK 16.0 (18.8) million, corresponding to an EBITDA margin of 12 percent.
\u2022 Operating income amounted to SEK 2.7 (7.2) million, after amortization and depreciation of SEK 13.2 (11.6) million was charged against the period.
\u2022 Net income amounted to SEK 1.5 (5.1) million, resulting in earnings per share of SEK 0.07 (0.24).
\u2022 Cash flow from operating activities was SEK 12.6 (8.6) million.
\u2022 Total sales from warm perfusion (STEEN Solution\u2122, XPS\u2122, LS\u2122, and products and services related to the use of the XPS\u2122 and LS\u2122) accounted for 40 (39) percent of the total sales.
\u2022 During the period, ten XPS\u2122 and LS\u2122 were sold; four to Europe, and six to the US. France, Spain, and Switzerland were new countries that received access to the XPS\u2122 or LS\u2122 during the period.
\u2022 XVIVO Perfusion\u00b4s patent-protected product, PrimECC\u00ae<\/sup>, has been granted a CE-mark.\u00a0 The product, developed to prime the heart-lung machine before open heart surgery, is undergoing a clinical study.
\u2022 STEEN Solution\u2122 was used for the first time to give localized delivery of a chemotherapy agent to a patient suffering from metastatic lung sarcoma through In-Vivo Lung Perfusion (IVLP). <\/span><\/p>\n

\u00a0SIGNIFICANT EVENTS AFTER THE END OF THE QUARTER <\/span><\/p>\n

\u2022 An XPS \u2122 contract has been signed with Alfred Health, Melbourne, Australia. It is the first XPS\u2122 to be sold to the country. Delivery and installation are planned for Q1, 2017.<\/span><\/p>\n

CONFERENCE CALL
<\/span>CEO Magnus Nilsson will present the report in a conference call at 2 p.m. CET on Wednesday, February 8, 2017. Telephone: +44 (0) 2071 928 000, enter code 13300522<\/p>\n

February 8, 2017
Gothenburg
XVIVO Perfusion AB (publ)
Magnus Nilsson, CEO<\/span>\u00a0<\/p>\n

* Vivoline\u2019s EVLP machine.\u00a0<\/span><\/p>\n

\n

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

Christoffer Rosenblad, CFO, +1 720 616 2101, christoffer.rosenblad@xvivoperfusion.com
Magnus Nilsson, CEO, +46 31 788 2150, magnus.nilsson@xvivoperfusion.com<\/span>
For further information on XVIVO Perfusion\u2019s business, please refer to the company\u2019s website, www.xvivoperfusion.com<\/span><\/p>\n

This information is information that Xvivo Perfusion AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8:30 a.m<\/span>\u00a0CET on February 8, 2017.<\/span><\/p>\n

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":"

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