Report on operations 2015

Strong sales growth and increased EBITDA
FOURTH QUARTER 2015 (OCT – DEC)

• Net sales in the quarter amounted to SEK 32.7 (25.5) million, corresponding to
an increase of 28 percent. Net sales increased by 17 percent in local currency.
• Operating income before depreciation and amortization (EBITDA) amounted to SEK
6.9 (3.1) million, corresponding to an EBITDA margin of 21 percent.
• Net income amounted to SEK 2.8 (0.3) million, resulting in earnings per share
of SEK 0.13 (0.01). The figures are affected by amortization and depreciation of
SEK 3.1 (2.6) million.
• Cash flow from operating activities was SEK 2.9 (-5.4) million.
• Net sales of non-Durable goods* in the quarter amounted to SEK 29.1 (25.5)
million, corresponding to an increase of 14 percent in SEK. Sales of non-Durable
goods increased by 5 percent in local currency.
• Products for warm perfusion (STEEN Solution™, the XPS™ and products related to
the use of the XPS™) accounted for 40 (34) percent of total product sales.
• Three XPS™ was delivered during the quarter. One to the US and two to Europe,
whereof one to the world’s second largest lung transplant clinic in Vienna,
Austria.
• The China Food and Drug Administration (CFDA) approved STEEN Solution™ for
marketing and clinical use in China.

THE PERIOD 2015 (JAN – DEC)

• Net sales in the period amounted to SEK 120.2 (84.7) million, corresponding to
an increase of 42 percent. Net sales increased by 25 percent in local currency.
• Operating income before depreciation and amortization (EBITDA) amounted to SEK
18.8 (11.4) million, corresponding to an EBITDA margin of 16 percent.
• Net income amounted to SEK 5.1 (5.2) million, resulting in earnings per share
of SEK 0.24 (0.25) after depreciation and amortization of SEK 11.6 (3.9) million
had been charged to the period.
• Cash flow from operating activities was SEK 8.6 (-4.6) million.
• Net sales of non-Durable goods* in the period amounted to SEK 106.0 (83.2)
million, corresponding to an increase of 27 percent in SEK. Sales of non-Durable
goods increased by 12 percent in local currency.
• Products for warm perfusion (STEEN Solution™, the XPS™ and products related to
use of the XPS™) accounted for 39 (28) percent of total product sales.
• The first XPS™ was delivered to Europe. During the year a total of 4 clinics
in Europe gained access to the XPS™, including the world’s second largest lung
transplant clinic in Vienna, Austria.
• The United States Patent and Trademark Office approved a third patent in the
“Preservation and evaluation solution” family, which means that STEEN Solution™
and the XPS™ have broader patent protection in the US.
• A strategic decision was made to apply for listing on Nasdaq Stockholm’s main
market during 2016.
• The first liver transplant using STEEN Solution™ was performed in Toronto,
Canada, as part of a clinical phase 1 study.

SIGNIFICANT EVENTS AFTER THE END OF THE QUARTER

• A decision was made to apply for listing on the First North Premier segment as
one step on the way to preparing the company for an application for listing on
NASDAQ Stockholm’s main market.
• The company has obtained a CE mark for a patent-protected product, PrimECC®,
which has been developed to prime heart-lung machines before open heart surgery.
The company will expand the clinical documentation for PrimECC® through more
clinical studies in 2016.
• At the time of publication of this report, 23 clinics have access to the XPS™,
including 18 clinics in the US and 4 clinics in Europe.
• After the end of the quarter one XPS™ contract was signed in Europe

CONFERENCE CALL

 CEO Magnus Nilsson will present the report in a conference call at 2 p.m. CET
on Thursday, February 4, 2016. Telephone: +44 (0) 1452 555566, enter code
68991296.

February 4, 2016
Gothenburg
XVIVO Perfusion AB (publ)
Magnus Nilsson, CEO

* Durable goods are sales revenues from the XPS™.
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

The information was submitted for publication on February 4, 2016 at 8:30 a.m.

This is a translation of the Swedish version of the press release. When in
doubt, the Swedish wording prevails.
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XVIVO Perfusion AB is a medical technology company which develops solutions and
systems for assessing and preserving organs outside the body and for selecting
usable organs and maintaining them in optimal condition pending transplantation.
The company is headquartered in Gothenburg, Sweden, and has one office in the
USA. The XVIVO share is listed on NASDAQ OMX First North and has the ticker
symbol XVIVO. More information can be found on the website
www.xvivoperfusion.com. The Certified Adviser is Redeye, www.redeye.se.
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XVIVO Perfusion AB (publ), Box 53015, SE-400 14 Göteborg. Corporate identity
number 556561-0424.
Tel: 46 31 788 21 50. Fax: 46 31 788 21 69.
E-mail: info@xvivoperfusion.com. Website: www.xvivoperfusion.com