XVIVO Presents Interim Report January-June 2023
GOTHENBURG, SWEDEN / ACCESSWIRE / July 13, 2023 / XVIVO Perfusion AB (STO:XVIVO)(LSE:0RKL)(FRA:3XV) "Continued momentum for our business"Second quarter 2023 (Apr 1 - Jun 30)• Net sales amounted to SEK 154.6 million (94.3), corresponding to an …
GOTHENBURG, SWEDEN / ACCESSWIRE / July 13, 2023 / XVIVO Perfusion AB (STO:XVIVO)(LSE:0RKL)(FRA:3XV) "Continued momentum for our business"
Second quarter 2023 (Apr 1 - Jun 30)
• Net sales amounted to SEK 154.6 million (94.3), corresponding to an increase of 64 percent in SEK and 52 percent in local currencies. Organic growth accounted for 46 percent and acquired growth
for 6 percent.
• All business areas delivered underlying organic growth adjusted for currency effects: Thoracic disposables 47 percent, Abdominal disposables 40 percent and Services 79 percent.
• The gross margin for disposables increased to 80 percent (78). The total gross margin was 75 percent (72).
• Operating income (EBIT) amounted to SEK 3.8 million (4.1). Adjusted EBIT amounted to SEK 15.1 million (1.1).
• Operating income before depreciation and amortization (EBITDA) amounted to SEK 17.2 million (14.4) corresponding to an EBITDA margin of 11 percent (15). Adjusted operating income before
depreciation and amortization (EBITDA) amounted to SEK 28.5 million (11.3), corresponding to an adjusted EBITDA margin of 19 percent (12).
• Net profit amounted to SEK 6.9 million (7.5). Earnings per share amounted to SEK 0.23 (0.26).
• Cash flow from operating activities increased to SEK 15.7 million (-1.6). Total cash flow amounted to SEK -34.5 million (-36.6), impacted by contingent consideration from the acquisition of
Avionord (XVIVO S.r.l.) of SEK -10.9 million, the final part payment of the initial purchase consideration regarding the acquisition of STAR Teams of SEK -6.8 million and investments in R&D
projects of SEK -22.7 million.
Significant events during the quarter
• IDE application for XVIVO's heart preservation technology was approved by the US FDA
• Patient inclusion completed in European clinical trial using heart preservation technology
• US service offering strengthened by commercial integration of STAR Teams
• Change in number of shares and votes in XVIVO Perfusion AB (publ)
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The period 2023 (Jan 1 - Jun 30)
• Net sales amounted to SEK 295.2 million (186.9), corresponding to an increase of 58 percent in SEK and 45 percent in local currencies. Organic growth accounted for 39 percent and acquired growth
for 6 percent.
• All business areas delivered underlying organic growth adjusted for currency effects: Thoracic disposables 40 percent, Abdominal disposables 56 percent and Services 77 percent.
• Gross margin for disposables increased to 80 percent (78). The total gross margin was 75 percent (71).