{"id":9552,"date":"2024-10-24T05:30:00","date_gmt":"2024-10-24T05:30:00","guid":{"rendered":"https:\/\/www.xvivogroup.com\/us\/mfn_news\/interim-report-january-september-2024\/"},"modified":"2024-10-24T05:30:00","modified_gmt":"2024-10-24T05:30:00","slug":"interim-report-january-september-2024","status":"publish","type":"mfn_news","link":"https:\/\/www.xvivogroup.com\/us\/pressreleases\/interim-report-january-september-2024\/","title":{"rendered":"Interim report January-September 2024"},"content":{"rendered":"
\n

Third quarter 2024 (July 1 – September 30)<\/strong>
\u2022 Net sales amounted to SEK 198.5 million (146.6), corresponding to growth of 35 percent in SEK and 41 percent in local currencies.
\u2022 Organic growth accounted for 41 percent, and currency effects for -6 percent.
\u2022 The Business areas Thoracic and Abdominal delivered underlying organic growth adjusted for currency effects: Thoracic disposables 54 percent and Abdominal disposables 13 percent. The Services business area decreased by 7 percent.
\u2022 Gross margin for disposables was 81 percent (80). The total gross margin was 75 percent (73).
\u2022 Operating income (EBIT) amounted to SEK 20.5 million (5.3). Adjusted EBIT amounted to SEK 25.5 million (14.4).
\u2022 Operating income before depreciation and amortization (EBITDA) amounted to SEK 37.1 million (18.9) corresponding to an EBITDA margin of 19 percent (13). Adjusted operating income before depreciation and amortization (EBITDA) amounted to SEK 42.1 million (28.0), corresponding to an adjusted EBITDA margin of 21 percent (19).
\u2022 Net profit amounted to SEK 85.8 million (2.3) and was impacted by financial income of SEK 65.2 million (0.1) attributable to fair value valuation of financial liabilities. Earnings per share amounted to SEK 2.72 (0.08).
\u2022 Cash flow from operating activities was SEK 22.9 million (24.8). Total cash flow amounted to SEK -21.2 million (424.4) primarily impacted by investments in R&D projects, production facilities, and investments in machine installations at clinics.<\/p>\n

Significant events in the quarter<\/strong>
\u2022 XVIVO\u2019s European heart preservation study published in The Lancet
\u2022 XVIVO enters into an agreement to acquire FlowHawk – a unique communication platform for the transplant process. The transaction officially closed on October 11th
\u2022 Financial income of SEK 64.4 million recognized, attributable to write-down of financial liabilities after fair value valuation, not affecting cash flow, operating income (EBIT) or EBITDA<\/p>\n

The period 2024 (January 1 – September 30)<\/strong>
\u2022 Net sales amounted to SEK 594.9 million (441.8), corresponding to growth of 35 percent in SEK and 36 percent in local currencies.
\u2022 Organic growth accounted for 36 percent, currency effect -1 percent.
\u2022 All business areas delivered underlying organic growth adjusted for currency effects: Thoracic disposables 44 percent, Abdominal disposables 31 percent and Services 4 percent.
\u2022 Gross margin for disposables was 80 percent (80). The total gross margin was 74 percent (74).
\u2022 Operating income (EBIT) amounted to SEK 72.9 million (20.3). Adjusted operating income (EBIT) amounted to SEK 79.1 million (41.9).
\u2022 Operating income before depreciation and amortization (EBITDA) amounted to SEK 124.2 million (59.8) corresponding to an EBITDA margin of 21 percent (14). Adjusted operating income before depreciation and amortization (EBITDA) amounted to SEK 130.1 million (81.4), corresponding to an adjusted EBITDA margin of 22 percent (18).
\u2022 Net profit increased to SEK 135.8 million (23.3) and was impacted by financial income of SEK 59.4 million (-1.7) attributable to fair value valuation of financial liabilities. Earnings per share amounted to SEK 4.31 (0.78).
\u2022 Cash flow from operating activities increased to SEK 49.2 million (28.2). Total cash flow amounted to SEK -91.7 million (341.4), primarily impacted by investments in R&D projects, production facilities, 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 XVIVO\u2019s heart technology
\u2022 Study in extended hypothermic (cold) perfusion of liver using Liver Assist shows that preservation can last up to 20 hours.
\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, \u2018The Bridge \u2013 Lungs for Life\u2019, started with the aim of increasing lung transplants in Sweden and Denmark<\/p>\n

CEO comment<\/strong>
\u201cThe EVLP business in the US was the driving force this quarter, with our US clinical trial for heart also progressing as planned and staying within budget. With strong momentum in our US lung business, we enter the final part of the year with confidence. We are committed to invest in the need for more transplants as we steadily move closer to realizing 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

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-30\/<\/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 Stockholm under 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 2024-10-24 07:30 CEST.<\/em><\/p>\n<\/div>\n

\n

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

\n

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

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