Xvivo Perfusion Ab · OMXSTO:XVIVO
Xvivo Perfusion Ab — Q2 2024 Earnings Presentation
24 slides from Xvivo Perfusion Ab's earnings presentation, Jul 12, 2024
Slide 1: Quarterly Report Q2 2024
Quarterly Report Q2 2024 Earnings call, July 12, 2024 Alex Moroianu Heart transplant recipient, AU
Slide 2: Today’s presenters
Today’s presenters Christoffer Kristoffer Rosenblad Nordström CEO CFO 1 DOC ID: Quarterly report Apr-Jun 2024
Slide 3: Q2 Financials – at a glance
Q2 Financials – at a glance Organic growth Net Sales Thoracic Disposable sales SEK 210 Million Net Sales SEK 141 million +40% Gross margin Disposables 85% Sales growth Total 36% Abdominal Disposable sales Net Sales SEK 47 million +36% - Organic growth 35% Gross margin Disposables 63% - Currency effe
Slide 4: YTD Financials – at a glance
YTD Financials – at a glance Organic growth Net Sales Thoracic Disposable sales SEK 396 Million Net Sales SEK 262 million +40% Gross margin Disposables 84% Sales growth Total 34% Abdominal Disposable sales Net Sales SEK 91 million +41% - Organic growth 34% Gross margin Disposables 65% - Currency eff
Slide 5: Q2 Highlights
Q2 Highlights 4 DOC ID: Quarterly report Apr-Jun 2024
Slide 6: Successful ISHLT 2024
Successful ISHLT 2024 High interest and strong momentum for XVIVO heart and lung technologies • XVIVO – the most selected exhibitor • Trial Results from NIHP 2019 with XVIVO Heart presented by Prof. Rega - most selected scientific session • The successful ISHLT has resulted in an increased interest
Slide 7: Topline results from NIHP 2019 trial
Topline results from NIHP 2019 trial • NIHP 2019 is an RCT with superiority design run in 15 European centres comparing static cold storage (SCS) with Hypothermic oxygenated perfusion (HOPE) of the donor heart • Clinically meaningful reduction in primary end point events, driven by a 61 % risk reduc
Slide 8: DCD-donors – Heart trials
DCD-donors – Heart trials Approval obtained to start a European study, ’HOPE at Heart’, investigating the efficacy of HOPE1 on hearts from DCD donors, after direct procurement • Donor pool DCD portion: • US ~ 36 % • Benelux ~58 % • Good results for HOPE demonstrated already for Kidney and Liver clin
Slide 9: EVLP – continued strong momentum
EVLP – continued strong momentum • Centralized perfusion models (‘Hubs’) grow • “The Bridge” – a unique EVLP collaboration involving two countries – Sweden and Denmark • Paris – Now three clinics participating • LungBioengineering – increased volumes and deepened collaboration with XVIVO Services •
Slide 10: Abdominal
Abdominal • Long-term data published 1 on extented criteria DBD livers after 5 years. 87% organ survival with HOPE (Liver Assist) vs 52 % in the control group (standard of care) • Recent publication in Lancet 2 has demonstrated that Liver Assist has potential to reshape liver transplant logistics by
Slide 11: Clinical pipeline
Clinical pipeline 10 DOC ID: Quarterly report Apr-Jun 2024
Slide 12: Clinical Trial Status & Tentative Timeline
Clinical Trial Status & Tentative Timeline REVIEW & PRECLINICAL CLINICAL MARKET APPROVAL FOLLOW-UP • Trial to include 141 patients across 20 high impact centres 18 month patient 12 month patient Submission and PMA • 1st patient included in October enrollment follow-up approval process HEART 2023 • P
Slide 13: Financial Performance Q2
Financial Performance Q2 12 DOC ID: Quarterly report Apr-Jun 2024
Slide 14: Net sales and results in Q2
Net sales and results in Q2 Organic sales growth Q2 35% Apr-Jun Apr-Jun YTD YTD SEK Million 2024 2023 2024 2023 Net sales 210 141 396 295 Sales growth, % 36 % 52 % 34 % 52 % Whereof organic growth, % 35 % 34 % 34 % 34 % Gross profit 158 115 293 220 Gross margin, % 75 % 75 % 74 % 75 % EBIT (adj) 33 1
Slide 15: Thoracic – Q2 Highlights
Thoracic – Q2 Highlights Net sales by Net sales by Net sales by organ Net Sales region product category SEK 141 million (104) 2% 13% Organic growth disposables 23% 40 % (47) 40% 8% 58% Gross margin disposables 85 % (84) 69% 87% Lung Heart Americas Machine perfusion Heart Sales (SEK) APAC Static pres
Slide 16: Abdominal – Q2 Highlights
Abdominal – Q2 Highlights Net sales by Net sales by Net Sales Net sales by organ region product category SEK 47 million (30) 14% Organic growth disposables 28% 36 % (40) 5% Gross margin disposables 63 % (70) 72% 81% 100% Liver Kidney Americas Total sales growth APAC Machine perfusion (incl. machines
Slide 17: Services – Q2 Highlights
Services –Q2 Highlights Net Sales Recovery cases Q2 Case trend Net Sales Cases R12 Growth R12 SEK 23 million (20) 0 511 -9% Organic growth 10 % (79) 55 126 71 Gross margin recoveries 40 % (49) Hearts Lungs Heart-Lung block 16 DOC ID: Quarterly report Apr-Jun 2024
Slide 18: EBITDA
EBITDA April – June 2024 EBITDA (adj), R12 months EBITDA (adj), by quarter Comments SEKm SEKm 200 30% • R12 Trend continues to improve 30% 70 and 51 MSEK in Q2 is a new 180 record 25% 25% 160 60 137 51 • Sales growth and solid gross 140 20% 50 20% margin levels as key drivers 120 115 102 103 40 37 •
Slide 19: Cashflow and financial position (June 30, 2024)
Cashflow and financial position (June 30, 2024) Cash flow from Cashflow from Q2 Cashflow operating activities (R12) investing activities • Cash flow from operating SEKm activities SEK +25 million (16) 100 Q2 Q2 YTD YTD • Investments SEK -48 million (-47) 90 R12 SEKm 2024 2023 2024 2023 • Total Cash
Slide 20: Outlook
Outlook Alex Moroianu Heart transplant recipient, AU 19
Slide 21: Long term outlook
Long term outlook HAT • The demand for transplants are x 10 of bild today’s supply • Sales value of machine perfusion vs cold static storage is ~x 10 • Machine perfusion and service models have proven to increase the number of organs used for transplantation • XVIVO has unique, innovative and world
Slide 22: Outlook 2024
Outlook 2024 • Razor-sharp focus on key priorities • Increase focus and resources on the US Heart trial and launch preparations in Europe & ANZ • Expand global market leadership in Lung by driving EVLP utilization • Ramp up production capacity on disposables to meet increased demand globally for Kid
Slide 23: Nobody should die waiting for a new organ
Nobody should die waiting for a new organ 22DOC ID: Quarterly report Apr-Jun 2024
Slide 24: Financial calendar & contacts
Financial calendar & contacts Financial reports 2024 & 2025 Investor Relations Interim report July – September 2024: October 24, 2024 Kristoffer Nordström, CFO Telephone: +1 484 437 1277 Report on Operations 2024: January 28, 2025 E-mail: kristoffer.nordstrom@xvivogroup.com Christoffer Rosenblad, CE