Xvivo Perfusion Ab · OMXSTO:XVIVO
Xvivo Perfusion Ab — Q4 2023 Earnings Presentation
29 slides from Xvivo Perfusion Ab's earnings presentation, Jan 25, 2024
Slide 1: Report on Operations 2023 Earnings call January 25, 2024
VIVO Report on Operations ae \. 2023 = Earnings call January 25, 2024
Slide 2: Today's presenters
Today’s presenters Kristoffer Nordstrom Christoffer Rosenblad VIVO
Slide 3: Q4 Financials – at a glance
04 Financials - at a glance Net Sales SEK 156 Million Sales growth Total 18% - Organic growth 12 % - Acquired growth4 % - Currency effect 2% Organic growth EBITDA (adj) 14% Gross margin Recoveries 41% gd Thoracic Disposable sales Net Sales SEK 98 million Py 6 Gross margin Disposables 85% +14 % rad A
Slide 4: 2023 Financials – Full year
2023 Financials - Full year Net Sales SEK 598 Million Sales growth Total 44% - Organic growth 30 % - Acquired growth 6 % - Currency effect 8 % Organic growth EBITDA (adj) 17% Gross margin Recoveries 44% gd Thoracic Disposable sales Net Sales SEK 384 million Py 6 Gross margin Disposables 85% +28 %o r
Slide 5: 2023 Highlights
2023 Highlights
Slide 6: Heart – 2023 Accomplishments
Heart 2023 Accomplishments * Patient inclusion completed in European clinical trial * First transplant in the US heart trial performed * Trial inclusion criteria expanded to include DCD donors and cost recovery secured for US heart trial - Results published from ANZ study in JHLT -100% survival rate
Slide 7: Heart – 2024 Plan
Heart 2024 Plan * European RCT study results to be presented at ISHLT in April * Continued compassionate use in Europe & ANZ * Commercial launch preparations in Europe & ANZ * Continued momentum in US heart trial * Support investigator-initiated study for extended preservation times Expand clinical
Slide 8: Lung – 2023 Accomplishments
Lung 2023 Accomplishments * First transplant at European EVLP hub in Paris, France * Second European EVLP hub established in Copenhagen, Denmark » Successful 2" edition of XVIVO Masterclass for Lung Transplantation - 7XPS installations - 2 USA & 5 EMEA .\ DOC ID: Report on Operations 2029),
Slide 9: Lung – 2024 Plan
Lung 2024 Plan * Maintain and expand global market leadership in preservation and perfusion * Continued expansion of hub model in the USA & EU - driving further EVLP utilization - Demonstrate increased clinical benefit from higher PEERFADEX Plus volume use per transplant .\ DOC ID: Report on Operati
Slide 10: Kidney – 2023 Accomplishments
Kidney 2023 Accomplishments First installation of KAT at US Organ Procurement Organization Significant gross margin improvement All DCD kidneys perfused on KAT in the Netherlands - reimbursement supported by the strong results from the LANCET study (2021) Full launch of KAT in Italy - partial launch
Slide 11: Kidney – 2024 Plan
Kidney 2024 Plan Ramp up production capacity on disposables to meet increased demand globally Expand US abdominal sales force and clinical staff to meet increased demand Continued roll-out of KAT to additional European markets Launch Kidney Assist IDR device
Slide 12: Liver – 2023 Accomplishments
Liver 2023 Accomplishments Successful integration of Avionord M&P Milestone of 1200 livers perfused on Liver Assist in Italy Significant gross margin improvement Reimbursement secured in France Positive study results showing significant positive post-transplant outcomes using HOPE compared to static
Slide 13: Liver – 2024 Plan
Liver 2024 Plan * Submit IDE application for US clinical trial « Launch MDR device with remote monitoring and improved usability « Ramp up production capacity on disposables to meet increased demand * Host 2" edition XVIVO Masterclass Liver in Leuven, Belgium DOC ID: Report on Operations 2023
Slide 14: Organ Recovery – 2023 Accomplishments
Organ Recovery 2023 Accomplishments Successful commercial integration of recovery service Record number of heart & lung recoveries completed: 562 - approx. 10% of all transplants in active service area Successful NRP pilot for DCD heart recoveries with leading center in the US Launched strengthened
Slide 15: Organ Recovery – 2024 Plan
Organ Recovery 2024 Plan * Geographic expansion within the USA - Expansion of commercial offer - including NRP (DCD heart) and product-service integration - Expand clinical roster and operations staff to meet increased demand
Slide 16: Clinical pipeline
Clinical pipeline
Slide 17: Clinical Trial Status & Tentative Timeline
Clinical Trial Status & Tentative Timeline • • • • • • • • •
Slide 18: Financial Performance Q4
Financial Performance Q4
Slide 19: Net sales and results in Q4
Net sales and results in Q4 Oct-Dec Oct-Dec Full Year Full Year SEK Million 2023 2022 2023 2022 Net sales 156 132 598 415 Sales growth, % 18% 53% 44% 61% Whereof organic growth, % 12% 27% 30% 30% Gross profit 117 95 445 297 §Gross margin, % 75% 72% 74% 72% EBIT (adj) 1 9 43 14 HEBIT, % (adj) 1% 6% 7
Slide 20: Thoracic – Q4 Highlights
Thoracic - Q4 Highlights Net Sales SEK 98 million (88) Organic growth disposables 14 % (22 %) Gross margin disposables 85 % (85) Net sales by organ 1% mLung Heart 8% Net sales by region mAmericas APAC mEMEA Net sales by product category 45% lm Machine perfusion Static preservation m Other VIVO
Slide 21: Abdominal – Q4 Highlights
Abdominal - 04 Highlights Net sales by Net sales by Net Sales Net sales by organ region product category SEK 38 million (27) Organic growth disposables 20% 22 % (20) Gross margin disposables 69 % (54) mliver Kidney mAmericas 1m Machine perfusion APAC mEMEA Static preservation VIVO
Slide 22: Services – Q4 Highlights
Services -Q4 Highlights Net Sales Q4 Net Sales @4 Sales growth 19m 2023 Net Sales Recovery cases Q4 m Hearts Lungs m Heart-Lung block Case trend Growth YTD 14% Cases R12 562 VIVO
Slide 23: EBITDA
EBITDA EBITDA (adj), R12 months SEKm 160 140 120 100 80 60 40 20 66 56 24% 22% 20% 18% 16% 83 14% 12% 10% 8% 6% 4% 2% 0% 102 103 Q422 Q123 Q223 Q323 Q423 EBITDA (adjusted) EBITDA margin (adjusted) EBITDA (adj), by quarter SekKm 50 24% 45 22% 40 20% 35 18% 16% 30 29 28 25 14% 25 12% 20 2 % 20 10% 15
Slide 24: Cashflow and financial position (Dec 31, 2023)
Cashflow and financial position (Dec 31, 2023) • • • • • • • •
Slide 25: Outlook
Outlook
Slide 26: Long term outlook
Long term outlook * The demand for transplants are x 10 of today’s supply « Sales value of machine perfusion vs cold static storage is ~x 10 * Mlachine perfusion and service models have proven to increase the number of organs used for transplantation * XVIVO has unique, innovative and world leading
Slide 27: Outlook 2024
Outlook 2024 on key priorities Continued momentum for US trial and launch preparations in Europe & ANZ Maintain and expand global market leadership in preservation and perfusion Ramp up production capacity on disposables to meet increased demand globally for and Expansion of US organ to meet increas
Slide 28: Nobody should die waiting for a new organ
Nobody should die waiting for a new organ
Slide 29: Financial calendar & contacts
Financial calendar & contacts