Vita 34 AG / DE000A0BL849
30.08.2024 - 07:00:19Vita 34 continues positive trend in the first half of 2024 and once again significantly increases operating cash flow
| Vita 34 AG / Key word(s): Half Year Results/Half Year Report 30.08.2024 / 07:00 CET/CEST The issuer is solely responsible for the content of this announcement. Revenues increase by 4.9 percent to EUR 38.0 million in the first half of the year EBITDA increases by 76.4 percent to EUR 2.7 million Operating cash flow increases significantly to EUR 4.3 million Outlook for full-year 2024 confirmed Leipzig, 30 August 2024 – Vita 34 AG, the leading cell bank in Europe and the third largest in the world, continued to improve its business performance in the first half of 2024, reaching the sixth quarter of consecutive growth. Despite the general economic environment remaining challenging, the Company managed to significantly increase its results and operational cash flow. Revenues increased by 4.9 percent to EUR 38.0 million in the first half of the year (H1 2023: EUR 36.3 million), with growth of 6.0 percent in the second quarter alone. At EUR 35.9 million, the net amount of invoiced services in the end customer business (B2C) was 13.1 percent higher than in the previous year (H1 2023: EUR 31.7 million). The amount attributable to annually recurring payments of EUR 11.0 million was 8.1 percent higher than in the previous year (H1 2023: EUR 10.1 million). In the second quarter, the Group faced a slightly lower than expected number of new customer wins, while selective markets such as Romania, Switzerland and the GCC region performed quite well. The latter once again underlined the attractiveness of this growth region with significant double-digit growth rates and a significant improvement in financial results. In addition, demand for renewals of expiring contracts remained strong and continued to grow. In parallel with this ongoing positive trend, the Company managed to offset the impact of inflation through price adjustments and the sale of higher-value product bundles, resulting in year-on-year revenue growth in most markets. At EUR 2.7 million, earnings before interest, taxes, depreciation and amortization (EBITDA) were up 76.4 percent on the previous year (H1 2023: EUR 1.6 million). As a result, the EBITDA margin continued to recover and, at 7.2 percent, was significantly higher than the previous year's level of 4.3 percent. The Company continues to focus on improving its cost base and accordingly, further post-merger integration steps were completed in the past quarter as planned. Further progress was made in consolidating subsidiaries, thereby leveraging further synergies within the Group. A slightly higher cost basis in the second quarter as compared with the prior year was mainly related to the earlier convening of the Annual General Meeting, and thus also a higher share of administrative costs, as well as legal costs related to the licensing dispute in the US. The key figures for business development are as follows:
Vita 34 AG Investor Relations Phone: +49 (0341) 48792 – 40 Email: ir@vita34.de Company Profile Vita 34 was founded in Leipzig in 1997 and today is by far the leading cell bank in Europe and the third largest worldwide. As the first private umbilical cord blood bank in Europe and a pioneer in cell banking, the company has since offered the collection logistics, processing and storage of stem cells from umbilical cord blood, umbilical cord tissue and other postnatal tissues as a full-service provider for cryopreservation. Due to the expansion of the business model following the merger with PBKM, the company intends to invest in the areas of Cell & Gene therapies and CDMO. The body's own cells are a valuable starting material for medical cell therapy and are kept alive in the vapor of liquid nitrogen. Customers from about 50 countries have already provided for the health of their families with around one million units of stored biological material at Vita 34. 30.08.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com |
| Language: | English |
| Company: | Vita 34 AG |
| Deutscher Platz 5a | |
| 04103 Leipzig | |
| Germany | |
| Phone: | +49(0341)48792-40 |
| Fax: | +49(0341)48792-39 |
| E-mail: | ir@vita34.de |
| Internet: | www.vita34.de |
| ISIN: | DE000A0BL849 |
| WKN: | A0BL84 |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1977907 |
| End of News | EQS News Service |
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