Day: May 11, 2023

The following is an extract from the “Iveco Group 2023 First Quarter Results” press release. The complete press release can be accessed by visiting the media section of the Iveco Group corporate website: https://www.ivecogroup.com/media/corporate_press_releases or consulting the accompanying PDF:

Iveco Group consolidated revenues of €3.4 billion (up 11.5% year-on-year).
Adjusted EBIT of €162 million and adjusted net income of €63 million.
Net cash of Industrial Activities at €1.1 billion.
Full year 2023 Financial Guidance updated upward.

Consolidated revenues of €3,399 million, up 11.5%. Net revenues of Industrial Activities of €3,328 million, up 10.6%, mainly due to positive price realisation and higher volumes.

Adjusted EBIT of €162 million (€60 million increase compared to Q1 2022), with a 4.8% margin (up 150 bps compared to Q1 2022). Adjusted EBIT of Industrial Activities of €134 million (€82 million in Q1 2022), with a 4.0% margin (up 130 bps compared to Q1 2022): positive price realisation, higher volumes and better mix more than offset higher raw material and energy costs.

Adjusted net income of €63 million (€21 million increase compared to Q1 2022), which primarily excludes a negative after-tax impact of €44 million from the agreed acquisition of full ownership of Nikola Iveco Europe GmbH. Adjusted diluted earnings per share of €0.21 (up €0.06 compared to Q1 2022).

Financial expenses of €74 million (€34 million in Q1 2022), increasing mainly as a consequence of higher interest rates and the impact of hyperinflation accounting in Argentina and Türkiye.

Reported income tax expense of €24 million, with adjusted effective tax rate (adjusted ETR) of 28% reflecting different tax rates applied in the jurisdictions where the Group operates and some other discrete items.

Net cash of Industrial Activities at €1,103 million (€1,727 million at 31^st December 2022). Free cash flow of Industrial Activities negative for €593 million (€427 million lower compared to Q1 2022) primarily due to the impact on inventory level deriving from high demand, as well as component shortage and supply chain issues.

Available liquidity at €3,980 million as of 31^st March 2023, down €384 million from 31^st December 2022, including €2,051 million of undrawn committed facilities.

Attachment

• 20230511_PR_IVG_Q1_2023

GlobeNewswire Distribution ID 1000809387

Mont-Saint-Guibert, Belgium – May 10, 2023, 10:05pm CET / 4:05pm ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (“Nyxoah” or the “Company”), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA), today announced the appointment of Christoph Eigenmann as Chief Commercial Officer. Christoph will oversee commercial activities globally, be responsible for sales and marketing in existing markets, and new market development.

Christoph brings a wealth of experience in medical technologies to Nyxoah. He spent over 20 years with Johnson & Johnson (J&J), where he oversaw commercial organizations in various geographies in Europe and the United States. He has extensive experience in managing orthopedic and neuro businesses in the German, Swiss and U.S. markets, including as Senior Vice President, Sales & Marketing for J&J’s close to $1B U.S. Spine franchise, and has led regional functions across EMEA and North America. Christoph holds a master’s degree in chemical engineering and biotechnology from the Swiss Federal Institute of Technology in Lausanne, Switzerland.

“We are excited to have Christoph join Nyxoah as we embark on our next phase of growth. Christoph’s years of experience in commercializing medical devices globally will be invaluable as Nyxoah prepares to enter the U.S. market and expands its commercial presence internationally,” commented Olivier Taelman, Nyxoah Chief Executive Officer.

“I am thrilled to be joining Nyxoah at this critical and exciting time. Hypoglossal nerve stimulation is a large and highly under-penetrated market, and Nyxoah’s novel approach provides a highly differentiated solution for patients, clinicians, and healthcare systems. I look forward to applying my long tenure of commercializing medical devices in the U.S. to ensuring Genio becomes a standard of care in OSA treatment,” added Christoph.

About Nyxoah
Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA). Nyxoah’s lead solution is the Genio® system, a patient-centered, leadless and battery-free hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk and cardiovascular comorbidities. Nyxoah is driven by the vision that OSA patients should enjoy restful nights and feel enabled to live their life to its fullest.

Following the successful completion of the BLAST OSA study, the Genio® system received its European CE Mark in 2019. Following the positive outcomes of the BETTER SLEEP study, Nyxoah received CE mark approval for the expansion of its therapeutic indications to Complete Concentric Collapse (CCC) patients, currently contraindicated in competitors’ therapy. Additionally, the Company is currently conducting the DREAM IDE pivotal study for FDA and U.S. commercialization approval.

For more information, please visit http://www.nyxoah.com/.

Caution – CE marked since 2019. Investigational device in the United States. Limited by U.S. federal law to investigational use in the United States.

Contacts:
Nyxoah
David DeMartino, Chief Strategy Officer
david.demartino@nyxoah.com
+1 310 310 1313

Attachment

• ENGLISH_CCO Appointment_FINAL

GlobeNewswire Distribution ID 1000809330