Xvivo Perfusion Ab · OMXSTO:XVIVO
Xvivo Perfusion Ab — Q1 2024 Earnings Presentation
24 slides from Xvivo Perfusion Ab's earnings presentation, Apr 24, 2024
Slide 1: Quarterly Report Q1 2024
Quarterly Report Q1 2024 Earnings call, April 24, 2024 Alex Moroianu Heart transplant recipient, AU
Slide 2: Today’s presenters
Today’s presenters Christoffer Kristoffer Rosenblad Nordström CEO CFO DOC ID: Quarterly report Jan-Mar 2024
Slide 3: Q1 Financials – at a glance
Q1 Financials – at a glance Organic growth Net Sales Thoracic Disposable sales SEK 186 Million Net Sales SEK 121 million +39% Gross margin Disposables 82% Sales growth Total 32% Abdominal Disposable sales Net Sales SEK 44 million +46% - Organic growth 32% Gross margin Disposables 67% - Acquired grow
Slide 4: Q1 Highlights
Q1 Highlights DOC ID: Quarterly report Jan-Mar 2024
Slide 5: 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 • XVIVO held two well-attended industry symposia • Lungs: Unl
Slide 6: 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 7: XVIVO heart technology makes first cross Atlantic heart transplant possible
XVIVO heart technology makes first cross Atlantic heart transplant possible Changing the paradigm of heart preservation The prestigious medical journal The Lancet now reports about this extraordinary case that stands out for three key reasons Unprecedented distance First instance of a donated heart
Slide 8: Abdominal
Abdominal • Recent publication in Lancet 1 has demonstrated XVIVO's Liver Assist has potential to reshape liver transplant logistics • Clinical trial at UMCG, Netherlands demonstrates the feasibility of prolonging the preservation of donor livers with DHOPE (Dual Hypothermic Oxygenated Perfusion) fo
Slide 9: Lung
Lung • Strong momentum for EVLP in Europe and USA driven by high lung transplant activity • High interest from major clinics in the US and Europe to start EVLP programs with the XPS Technology • Continued investment in clinical personnel to drive further EVLP utilization DOC ID: Quarterly report Jan
Slide 10: Services - Organ Recovery
Services - Organ Recovery • All existing customers on renewed contracts • Presentation at XVIVO industry symposia during ISHLT on the benefits of third-party organ recovery • Continued development of quality program with great feedback from customers • Further improvement of service offering, e.g. i
Slide 11: Clinical pipeline
Clinical pipeline DOC ID: Quarterly report Jan-Mar 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 • 1st patient included in October enrollment follow-up HEART 2023 • Patient enrolment completed May 2023
Slide 13: Financial Performance Q1
Financial Performance Q1 DOC ID: Quarterly report Jan-Mar 2024
Slide 14: Net sales and results in Q1
Net sales and results in Q1 Organic sales growth Q1 32% Jan-Mar Jan-Mar Full Year SEK Million 2024 2023 2023 Net sales 186 141 598 Sales growth, % 32 % 52 % 44 % Whereof organic growth, % 32 % 34 % 30 % Gross profit 135 105 445 Gross margin, % 73 % 75 % 74 % EBIT (adj) 20 12 43 EBIT, % (adj) 11 % 9%
Slide 15: Thoracic – Q1 Highlights
Thoracic – Q1 Highlights Net sales by Net sales by Net sales by organ Net Sales region product category SEK 121 million (91) 10% 3% Organic growth disposables 25% 39 % (32) 39% 7% 58% Gross margin disposables 82 % (86) 68% 90% Lung Heart Americas Machine perfusion APAC Static preservation EMEA Other
Slide 16: Abdominal – Q1 Highlights
Abdominal – Q1 Highlights Net sales by Net sales by Net Sales Net sales by organ region product category SEK 44 million (31) 14% Organic growth disposables 24% 1% 46 % (82) Gross margin disposables 67 % (65) 76% 85% 100% Liver Kidney Americas APAC Machine perfusion EMEA DOC ID: Quarterly report Jan-
Slide 17: Services – Q1 Highlights
Services –Q1 Highlights Net Sales Recovery cases Q1 Case trend Net Sales Cases R12 Growth R12 SEK 21 million (19) 1 535 2% Organic growth 11 % (82) 50 119 68 Gross margin recoveries 36 % (65) Hearts Lungs Heart-Lung block DOC ID: Quarterly report Jan-Mar 2024
Slide 18: EBITDA January – March 2024
EBITDA January – March 2024 EBITDA (adj), R12 months EBITDA (adj), by quarter Comments SEKm SEKm 160 50 • R12 Trend continues to improve 24% 24% 45 and 37 MSEK in Q1 is record 140 22% 22% 115 20% 40 37 20% • Ambition to continually improve 120 102 103 18% 35 18% EBITDA incrementally despite 100 16%
Slide 19: Cashflow and financial position (March 31, 2024)
Cashflow and financial position (March 31, 2024) Cash flow from Cashflow from Q1 Cashflow operating activities (R12) investing activities • Cash flow from operating SEKm activities SEK +2 million (-12) 80 R12 Q1 Q1 FY • Investments SEK -42 million (-34) SEKm 2024 2023 2023 70 +61m • Total Cash flow
Slide 20: Outlook
Outlook Alex Moroianu Heart transplant recipient, AU
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 DOC ID: Quarterly report Jan-Mar 2024
Slide 24: Financial calendar & contacts
Financial calendar & contacts Financial reports 2024 Investor Relations Interim report April - June 2024: July 12, 2024 Kristoffer Nordström, CFO / Head of IR Telephone: +1 484 437 1277 Interim report July – September 2024: October 24, 2024 E-mail: kristoffer.nordstrom@xvivogroup.com Christoffer Ros