{"id":7666,"date":"2024-07-12T05:30:00","date_gmt":"2024-07-12T05:30:00","guid":{"rendered":"https:\/\/www.xvivogroup.com\/us\/mfn_news\/interim-report-january-june-2024\/"},"modified":"2024-07-12T05:30:00","modified_gmt":"2024-07-12T05:30:00","slug":"interim-report-january-june-2024","status":"publish","type":"mfn_news","link":"https:\/\/www.xvivogroup.com\/us\/pressreleases\/interim-report-january-june-2024\/","title":{"rendered":"Interim report January \u2013 June 2024"},"content":{"rendered":"
\n

Second quarter 2024 (Apr 1 – Jun 30)<\/strong>
\u2022 Net sales amounted to SEK 210.3 million (154.6), corresponding to growth of 36 percent in SEK and 35 percent in local currencies. Organic growth accounted for 35 percent, currency effect 1 percent.
\u2022 All business areas delivered underlying organic growth adjusted for currency effects: Thoracic disposables 40 percent, Abdominal disposables 36 percent and Services 10 percent.
\u2022 Gross margin for disposables was 80 percent (80). The total gross margin was 75 percent (75).
\u2022 Operating income (EBIT) amounted to SEK 33.4 million (3.8). Adjusted EBIT amounted to SEK 33.4 million (15.1).
\u2022 Operating income before depreciation and amortization (EBITDA) amounted to SEK 51.1 million (17.2) corresponding to an EBITDA margin of 24 percent (11). Adjusted operating income before depreciation and amortization (EBITDA) amounted to SEK 51.1 million (28.5), corresponding to an adjusted EBITDA margin of 24 percent (19).
\u2022 Net profit amounted to SEK 27.2 million (6.9). Earnings per share amounted to SEK 0.86 (0.23).
\u2022 Cash flow from operating activities increased to SEK 24.7 million (15.7). Total cash flow amounted to SEK -27.2 million (-34.5) primarily impacted by investments in R&D projects, production facility, and investments in machine installations at clinics.<\/p>\n

Significant events during the quarter<\/strong>
\u2022 Results from XVIVO\u2019s European clinical trial, NIHP2019, in heart transplantation presented at ISHLT in Prague.
\u2022 New clinical study, \u2018HOPE at Heart\u2019, started by XVIVO in Europe on DCD hearts in 20 patients
\u2022 Unique initiative, \u2019The Bridge \u2013 Lungs for Life\u2019, started to increase lung transplants in Sweden and Denmark<\/p>\n

The period 2024 (Jan 1 – Jun 30)<\/strong>
\u2022 Net sales amounted to SEK 396.4 million (295.2), corresponding to growth of 34 percent in SEK and 34 percent in local currencies. All growth was organic.
\u2022 All business areas delivered underlying organic growth adjusted for currency effects: Thoracic disposables 40 percent, Abdominal disposables 41 percent and Services 10 percent.
\u2022 Gross margin for disposables was 79 percent (80). The total gross margin was 74 percent (75).
\u2022 Operating income (EBIT) amounted to SEK 52.4 million (15.0). Adjusted operating income (EBIT) amounted to SEK 53.4 million (27.6).
\u2022 Operating income before depreciation and amortization (EBITDA) amounted to SEK 87.1 million (40.9), corresponding to an EBITDA margin of 22 percent (14). Adjusted operating income before depreciation and amortization (EBITDA) amounted to SEK 88.1 million (53.4), corresponding to an adjusted EBITDA margin of 22 percent (18).
\u2022 Net profit increased to SEK 50.0 million (21.1). Earnings per share amounted to SEK 1.59 (0.71).
\u2022 Cash flow from operating activities increased to SEK 26.3 million (3.3). Total cash flow amounted to SEK -70.5 million (-83.0) impacted by investments in R&D projects, production facility, and investments in machine installations at clinics.<\/p>\n

Significant events in the reporting period<\/strong>
\u2022 First-ever transplantation of a donor heart transported across the Atlantic – made possible by the use of XVIVO\u2019s heart technology
\u2022 Study in extended perfusion of liver using Liver Assist shows that preservation can last up to 20 hours.<\/p>\n

CE comment<\/strong>
\u201cThe second quarter of the year was positive and sales continue to grow, both sequentially and year-on-year. We are also delivering growth with increased profitability. The organization is goal-oriented and focused, which is yielding results in the form of commercial advances on our main markets, and development projects and clinical trials are proceeding according to plan and within budget. We look forward to the rest of the year and the future with confidence as we gradually move closer to realizing our vision – that no one should die waiting for a new organ.\u201d<\/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

Conference Call<\/strong><\/p>\n

\n

Christoffer Rosenblad, CEO and Kristoffer Nordstr\u00f6m, CFO, will present the report in a conference call today at 2.00 PM CET \/ 8.00 AM EST. For registration to the conference call, see information in previous press release: https:\/\/www.xvivogroup.com\/us\/pressreleases\/conference-call-on-interim-report-29\/<\/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 and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-07-12 07:30 CEST.<\/em><\/p>\n<\/div>\n

\n

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

\n

XVIVO Interim Report Q2 2024<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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