EQS-News

Vita 34 returns to growth path in 2023

EQS-News: Vita 34 AG / Key word(s): Annual Results Vita 34 returns to growth path in 2023 30.04.2024 / 22:51 CET/CEST The issuer is solely responsible for the content of this announcement. Vita 34 returns to growth path in 2023

• Group revenue increases by 11.8 percent to EUR 77.1 million in challenging environment
• Core markets still characterized by weakness, but bottom appears to have been passed
• EBITDA of EUR 5.6 million significantly improved compared to previous year, despite extraordinary one-offs
• Operating cash flow of EUR 9.2 million almost tripled in comparison to the previous year
• Further strengthening of organic growth targeted for 2024

Leipzig, 30 April 2024 – Vita 34 AG, the leading cell bank in Europe and the third largest in the world, was able to further improve its overall business development in the final quarter of 2023 and was able to achieve visible growth at Group level again. At the same time, consistent cost and liquidity management led to a noticeable improvement in earnings compared to the previous year.

At EUR 77.1 million, Group revenue increased by 11.8 percent compared to the previous year (2022: EUR 68.9 million). In an environment that remains challenging overall and is characterized by declining birth rates, the company succeeded in achieving organic revenue growth again on a quarterly basis. While development in Germany and the Middle East was still marked by pronounced weakness at the end of the year, growth was primarily driven by positive developments in Hungary, Switzerland, Romania and Turkey, as well as stabilization in Poland. The number of contract renewals also continued to develop very positively.

“Overall, we succeeded in holding our own in a persistently difficult economic environment and compensating for effects of inflation. It is becoming increasingly apparent that the financial burden on private households resulting from the rise in inflation and the changed interest rate environment is easing. There are signs of more leeway for private consumption again,” explains Jakub Baran, CEO of Vita 34 AG. “In addition, consistent cost and liquidity management has led to our earnings development being significantly better than in the previous year. Our investments in newly emerging areas obviously had a negative impact on our earnings in 2023. However, we assume that we will noticeably improve our development in the CDMO area in 2024. We plan to finance our further investments in Cell and Gene therapies largely from the available liquidity in our subsidiary FamiCordTx and from a current project that has already been approved by the Agency for Medical Research (ABM) in Poland. We are also going to initiate discussions with new potential investors at FamiCordTx.”