Report on Operations 2022

GOTHENBURG, SWEDEN / ACCESSWIRE / January 26, 2023 / XVIVO Perfusion AB (STO:XVIVO)(LSE:0RKL)(FRA:3XV)

Fourth quarter 2022 (October 1 - December 31)

• Net sales amounted to SEK 131.5 million (85.9), corresponding to an increase of 53 percent in SEK and 34 percent adjusted for currency effects. Organic growth accounted for 27 percent and acquired growth for 7 percent.
• All business areas delivered underlying growth adjusted for currency effects: Thoracic 26 percent, Abdominal 27 percent and Services 44 percent.
• The gross margin for disposables increased to 79 percent (77). The total gross margin was 72 percent (73).
• Operating income before depreciation and amortization (EBITDA) amounted to SEK 13.6 million (-0.1) corresponding to an EBITDA margin of 10 percent (0). Adjusted operating income before depreciation and amortization (EBITDA) amounted to SEK 19.8 million (9.6), corresponding to an adjusted EBITDA margin of 15 percent (11).
• Operating income (EBIT) amounted to SEK 2.3 million (-8.3). Adjusted EBIT amounted to SEK 8.5 million (1.4).
• Net profit amounted to SEK 0.7 million (12.2). Earnings per share amounted to SEK 0.02 (0.42).
• Cash flow from operating activities increased to SEK 21.8 million (-0.6), a result of increased sales and positive EBITDA. Total cash flow amounted to SEK -58.1 million (111.2) and was primarily impacted by the initial purchase price for XVIVO S.r.l. of SEK -39.4 million, payment of the withheld portion of the purchase price for STAR Teams Inc. Of SEK -7.0 million and investments in R&D projects of SEK -26.2 million.

Significant events during the quarter

• Positive results presented from the Australian and New Zealand heart preservation study.
• XVIVO completes the acquisition of the machine and perfusion business from its Italian distributor Avionord S.r.l.
• The new share issue directed at the shareholders of Avionord S.r.l. increased the number of shares and votes in XVIVO Perfusion AB (publ) by 269,952.
• XVIVO's Board of Directors appoints Christoffer Rosenblad as CEO.
• XVIVO strengthens its management team by appointing Lena Hagman as Chief Operating Officer, COO.

Events after the end of the period