STOCKHOLM, Feb. 08, 2017 /PRNewswire/ -- THE PERIOD 2016 (JAN – DEC)

• Net sales in the quarter amounted to SEK 38.4 (32.7) million, corresponding to an increase of 18 percent. Growth amounted to 11 percent in local currency. The acquisition of Vivoline had a positive impact of SEK 2.8 million on sales.
• Operating income before depreciation and amortization (EBITDA), excluding items affecting comparability, amounted to SEK 6.7 (7.2) million, corresponding to an EBITDA margin of 17 percent. Items affecting comparability of SEK 3.1 (0.3) million, related to the Nasdaq Stockholm main market listing and the acquisition of Vivoline, have been charged against the quarter. EBITDA amounted to SEK 3.6 (6.9) million, corresponding to an EBITDA margin of 9 percent.
• Operating income amounted to SEK 0.0 (3.8) million, after amortization and depreciation of SEK 3.6 (3.1) million was charged against the quarter.
• Net income amounted to SEK -0.6 (2.8) million, resulting in earnings per share of SEK -0.02 (0.13).
• Cash flow from operating activities was SEK -6.2 (2.9) million, mainly affected by change in trade receivables of SEK -11.8 million from increased sales and prepaid insurance premiums.
• Total sales from warm perfusion (STEEN Solution™, XPS™, LS™*, and products and services related to the use of the XPS™ and LS™) accounted for 43 (40) percent of the total sales.
• Four XPS™ and LS™ were delivered during the quarter; two XPS™ went to the USA, and two LS™ went to Spain.  The LS™ machine is new to Spain.
• During the quarter, XVIVO Perfusion acquired another 1.4 percent of the shares in the listed company Vivoline Medical AB, through the compulsory redemption process, whereby XVIVO Perfusion became the owner of 100 percent of the shares.
• XVIVO Perfusion AB's shares were admitted for trading on Nasdaq Stockholm main list on November 28, 2016. The company's shares will continue trading with the same short name and ISIN code.

FOURTH QUARTER 2016 (OCT – DEC)

• Net sales in the period amounted to SEK 138.2 (120.2) million, corresponding to an increase of 15 percent. Growth amounted to 13 percent in local currency. The acquisition of Vivoline had a positive impact of SEK 4.3 million on sales.
• Operating income before depreciation and amortization (EBITDA,) excluding items affecting comparability, increased by 27 percent and amounted to SEK 26.4 (20.8) million, corresponding to an EBITDA margin of 19 percent. Items affecting comparability of SEK 10.4 (2.0) million, related to the Nasdaq Stockholm main market listing and the acquisition of Vivoline, have been charged against the period. EBITDA amounted to SEK 16.0 (18.8) million, corresponding to an EBITDA margin of 12 percent.
• Operating income amounted to SEK 2.7 (7.2) million, after amortization and depreciation of SEK 13.2 (11.6) million was charged against the period.
• Net income amounted to SEK 1.5 (5.1) million, resulting in earnings per share of SEK 0.07 (0.24).
• Cash flow from operating activities was SEK 12.6 (8.6) million.
• Total sales from warm perfusion (STEEN Solution™, XPS™, LS™, and products and services related to the use of the XPS™ and LS™) accounted for 40 (39) percent of the total sales.
• During the period, ten XPS™ and LS™ were sold; four to Europe, and six to the US. France, Spain, and Switzerland were new countries that received access to the XPS™ or LS™ during the period.
• XVIVO Perfusion´s patent-protected product, PrimECC®, has been granted a CE-mark.  The product, developed to prime the heart-lung machine before open heart surgery, is undergoing a clinical study.
• STEEN Solution™ was used for the first time to give localized delivery of a chemotherapy agent to a patient suffering from metastatic lung sarcoma through In-Vivo Lung Perfusion (IVLP).

 SIGNIFICANT EVENTS AFTER THE END OF THE QUARTER

• An XPS ™ contract has been signed with Alfred Health, Melbourne, Australia. It is the first XPS™ to be sold to the country. Delivery and installation are planned for Q1, 2017.

CONFERENCE CALL
CEO Magnus Nilsson will present the report in a conference call at 2 p.m. CET on Wednesday, February 8, 2017. Telephone: +44 (0) 2071 928 000, enter code 13300522

February 8, 2017
Gothenburg
XVIVO Perfusion AB (publ)
Magnus Nilsson, CEO 

* Vivoline's EVLP machine. 

For further information please contact:

Christoffer Rosenblad, CFO, +1 720 616 2101, christoffer.rosenblad@xvivoperfusion.com
Magnus Nilsson, CEO, +46 31 788 2150, magnus.nilsson@xvivoperfusion.com
For further information on XVIVO Perfusion's business, please refer to the company's website, www.xvivoperfusion.com

This information is information that Xvivo Perfusion AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8:30 a.m CET on February 8, 2017.

This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.

This information was brought to you by Cision http://news.cision.com
http://news.cision.com/xvivo-perfusion/r/xvivo-perfusion-report-on-operations-2016,c2182785

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SOURCE Xvivo Perfusion