In This Article:
GOTHENBURG, SE / ACCESSWIRE / January 28, 2025 / XVIVO Perfusion AB (STO:XVIVO)(LSE:0RKL)(FRA:3XV)
Fourth quarter 2024 (October 1 - December 31)
• Net sales amounted to SEK 227.6 million (155.7), corresponding to growth of 46 percent in SEK and 45 percent in local currencies.
• Organic growth accounted for 44 percent and acquired growth for 1 percent. All business areas delivered underlying organic growth adjusted for currency effects: Thoracic disposables 50 percent, Abdominal disposables 35 percent and Services 16 percent.
• Gross margin for disposables was 82 percent (81). The total gross margin increased to 77 percent (75).
• Operating income (EBIT) increased to SEK 15.5 million (-16.1) and includes a write-down of intangible assets of SEK -20.1 million (-16.4) related to discontinued development projects. Adjusted EBIT amounted to SEK 36.6 million (0.8).
• Operating income before depreciation and amortization (EBITDA) increased to SEK 51.9 million (20.7), corresponding to an EBITDA margin of 23 percent (13). Adjusted operating income before depreciation and amortization (EBITDA) amounted to SEK 52.9 million (21.2), corresponding to an adjusted EBITDA margin of 23 percent (14).
• Net profit amounted to SEK 36.4 million (68.5) and was impacted by financial expenses of SEK -0.4 million (73.7) attributable to fair value valuation of financial liabilities.
• Earnings per share amounted to SEK 1.16 (2.17).
• Cash flow from operating activities was SEK 62.1 million (18.1). Total cash flow amounted to SEK -51.7 million (-38.2) primarily impacted by investments in R&D projects, production facilities and the acquisition of FlowHawk.
Significant events in the quarter
• Enrollment of patients completed five months early in XVIVO's clinical trial in the US evaluating heart preservation technology
• Lena Hagman is appointed deputy CEO
The period 2024 (January 1 - December 31)
• Net sales amounted to SEK 822.4 million (597.5), corresponding to growth of 38 percent in SEK and 39 percent in local currencies.
• Organic growth accounted for 39 percent, currency effect -1 percent. All business areas delivered underlying organic growth adjusted for currency effects: Thoracic disposables 46 percent, Abdominal disposables 32 percent and Services 7 percent.
• Gross margin for disposables was 81 percent (81). The total gross margin increased to 75 percent (74).
• Operating income (EBIT) increased to SEK 88.4 million (4.2) and includes a write-down of intangible assets of SEK -20.3 million (-16.4) related to discontinued development projects. Adjusted EBIT amounted to SEK 115.6 million (42.7).
• Operating income before depreciation and amortization (EBITDA) increased to SEK 176.1 million (80.5), corresponding to an EBITDA margin of 21 percent (13). Adjusted operating income before depreciation and amortization (EBITDA) amounted to SEK 183.1 million (102.6), corresponding to an adjusted EBITDA margin of 22 percent (17).
• Net profit increased to SEK 172.2 million (91.8) and was impacted by financial income of SEK 59.0 million (72.0) attributable to fair value valuation of financial liabilities.
• Earnings per share amounted to SEK 5.47 (3.07).
• Cash flow from operating activities increased to SEK 111.3 million (46.3). Total cash flow amounted to SEK -143.4 million (303.2) primarily impacted by investments in R&D projects, production facilities, and the acquisition of FlowHawk.