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31.05.2024 08:34:12 - dpa-AFX: EQS-News: Vita 34 significantly increases earnings and operating cash flow in the first quarter (english)
Vita 34 significantly increases earnings and operating cash flow in the
first quarter
EQS-News: Vita 34 AG / Key word(s): Quarterly / Interim Statement
Vita 34 significantly increases earnings and operating cash flow in the
first quarter
31.05.2024 / 08:33 CET/CEST
The issuer is solely responsible for the content of this announcement.
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Vita 34 significantly increases earnings and operating cash flow in the
first quarter
* Revenues increase by 3.6 percent to EUR 18.6 million
* EBITDA more than quintuples to EUR 1.5 million
* Operating cash flow doubles to EUR 4.0 million
* Outlook for the full year 2024 confirmed
Leipzig, 31 Mai 2024 - Vita 34 AG, the leading cell bank in Europe and the
third largest in the world, has made a successful start to the new fiscal
year 2024. While the new customer business continues to be challenging
against the backdrop of the market environment, business with renewals from
existing contracts developed, as expected, much more positively. At the same
time, there is a trend towards new customers selecting higher-value product
packages.
Revenues amounted to EUR 18.6 million in the reporting period, up 3.6
percent on the previous year (Q1 2023: EUR 17.9 million). The net amount of
invoiced services to end consumer business (B2C) increased significantly due
to a noticeable rise in demand for contract renewals and, at EUR 18.0
million, was up 13.6 percent on the previous year's level (Q1 2023: EUR 15.9
million). The amount thereof attributable to annually recurring payments
totaled EUR 5.7 million (Q1 2023: EUR 5.2 million). "With the start of the
new financial year 2024, we have decided to introduce a new key figure in
our reporting, which is intended to make our actual corporate development
more transparent against the background of the complex accounting in
accordance with IFRS 15," explains Jakub Baran, CEO of Vita 34 AG. "The net
amount of invoiced services in consumer business (B2C) is intended to give
an impression of how our company has developed from a purely operational
perspective before the deferral of revenues in accordance with IFRS. We
believe the right proportion of annually recurring and prepaying clients is
a key factor for the future success of Vita34."
Earnings before interest, taxes, depreciation and amortization (EBITDA)
increased significantly year-on-year to EUR 1.5 million (Q1 2023: EUR 0.3
million). In addition to continued cost discipline in the current financial
year, the significant percentage increase is mainly due to the special
effects that reduced earnings in the same period of the previous year.
"Birth rates in our core markets have remained at a low level so far in
2024," explains CEO Jakub Baran. "However, we have managed to overcompensate
for the effect on revenues by increasing prices and encouraging our
customers to choose higher-value product packages. In parallel, our location
in Dubai, for example, which opened in the fourth quarter of 2023, continues
to develop very dynamically."
The key figures for business development are as follows:
The company continues to pay particular attention to cost structures in the
areas of administration, marketing and sales. Following a decline in sales
costs in the first quarter due to slightly weaker than expected new customer
business as well as the increased number of contract renewals, operating
cash flow improved significantly to EUR 4.0 million in the reporting period.
Cash and cash equivalents decreased by EUR 15.1 million compared to the end
of 2023, mainly due to the repayment of credit lines. Overall, the high
demand for contract renewals in the first quarter is reflected in the
Group's continued solid financial position. In view of the as yet unresolved
license situation in the new Cell & Gene Therapies and CDMO business areas,
investments in these areas continued to be limited in the first quarter of
2024.
In light of the overall business development in line with expectations in
the first quarter, the Management Board confirms its outlook for the year as
a whole. Accordingly, the Management Board expects revenues of between EUR
81 and 88 million and EBITDA of between EUR 6.5 and 8.0 million for 2024.
The forecast is based on a constant exchange rate of the euro against the
Polish zloty and other currencies (HUF, RON, TRY, GBP) compared to 29 April
2024.
The Management Board of Vita 34 AG will be available to institutional
investors, analysts and representatives of the press on 4 June at 3:00 p.m.
in a video conference to provide additional information on business
development. Registration for this is by e-mail via the Investor Relations
department ( ir@vita34.de).
Contact:
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.
---------------------------------------------------------------------------
31.05.2024 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
---------------------------------------------------------------------------
End of News EQS News Service
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1914951 31.05.2024 CET/CEST
first quarter
EQS-News: Vita 34 AG / Key word(s): Quarterly / Interim Statement
Vita 34 significantly increases earnings and operating cash flow in the
first quarter
31.05.2024 / 08:33 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Vita 34 significantly increases earnings and operating cash flow in the
first quarter
* Revenues increase by 3.6 percent to EUR 18.6 million
* EBITDA more than quintuples to EUR 1.5 million
* Operating cash flow doubles to EUR 4.0 million
* Outlook for the full year 2024 confirmed
Leipzig, 31 Mai 2024 - Vita 34 AG, the leading cell bank in Europe and the
third largest in the world, has made a successful start to the new fiscal
year 2024. While the new customer business continues to be challenging
against the backdrop of the market environment, business with renewals from
existing contracts developed, as expected, much more positively. At the same
time, there is a trend towards new customers selecting higher-value product
packages.
Revenues amounted to EUR 18.6 million in the reporting period, up 3.6
percent on the previous year (Q1 2023: EUR 17.9 million). The net amount of
invoiced services to end consumer business (B2C) increased significantly due
to a noticeable rise in demand for contract renewals and, at EUR 18.0
million, was up 13.6 percent on the previous year's level (Q1 2023: EUR 15.9
million). The amount thereof attributable to annually recurring payments
totaled EUR 5.7 million (Q1 2023: EUR 5.2 million). "With the start of the
new financial year 2024, we have decided to introduce a new key figure in
our reporting, which is intended to make our actual corporate development
more transparent against the background of the complex accounting in
accordance with IFRS 15," explains Jakub Baran, CEO of Vita 34 AG. "The net
amount of invoiced services in consumer business (B2C) is intended to give
an impression of how our company has developed from a purely operational
perspective before the deferral of revenues in accordance with IFRS. We
believe the right proportion of annually recurring and prepaying clients is
a key factor for the future success of Vita34."
Earnings before interest, taxes, depreciation and amortization (EBITDA)
increased significantly year-on-year to EUR 1.5 million (Q1 2023: EUR 0.3
million). In addition to continued cost discipline in the current financial
year, the significant percentage increase is mainly due to the special
effects that reduced earnings in the same period of the previous year.
"Birth rates in our core markets have remained at a low level so far in
2024," explains CEO Jakub Baran. "However, we have managed to overcompensate
for the effect on revenues by increasing prices and encouraging our
customers to choose higher-value product packages. In parallel, our location
in Dubai, for example, which opened in the fourth quarter of 2023, continues
to develop very dynamically."
The key figures for business development are as follows:
IFRS, in EUR ยด000 Q1 Q1
2024 2023
Group revenue 18,557 17,904 3.6%
Gross profit 6,962 5,681 22.6%
EBITDA 1,548 272 468.8%
EBITDA margin (%) 8.3 1.5
EBIT -663 -1,813 63.4%
Result for the period -622 -3,040 79.5%
Earnings per share (in EUR) -0.05 -0.18 72.2%
Operating cash flow 3,979 1,974 101.6%
Cash & cash equivalents 15,111 17,416 -13.2%
(vs. 31 Dec. 2023)
The company continues to pay particular attention to cost structures in the
areas of administration, marketing and sales. Following a decline in sales
costs in the first quarter due to slightly weaker than expected new customer
business as well as the increased number of contract renewals, operating
cash flow improved significantly to EUR 4.0 million in the reporting period.
Cash and cash equivalents decreased by EUR 15.1 million compared to the end
of 2023, mainly due to the repayment of credit lines. Overall, the high
demand for contract renewals in the first quarter is reflected in the
Group's continued solid financial position. In view of the as yet unresolved
license situation in the new Cell & Gene Therapies and CDMO business areas,
investments in these areas continued to be limited in the first quarter of
2024.
In light of the overall business development in line with expectations in
the first quarter, the Management Board confirms its outlook for the year as
a whole. Accordingly, the Management Board expects revenues of between EUR
81 and 88 million and EBITDA of between EUR 6.5 and 8.0 million for 2024.
The forecast is based on a constant exchange rate of the euro against the
Polish zloty and other currencies (HUF, RON, TRY, GBP) compared to 29 April
2024.
The Management Board of Vita 34 AG will be available to institutional
investors, analysts and representatives of the press on 4 June at 3:00 p.m.
in a video conference to provide additional information on business
development. Registration for this is by e-mail via the Investor Relations
department ( ir@vita34.de).
Contact:
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.
---------------------------------------------------------------------------
31.05.2024 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: 1914951
End of News EQS News Service
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1914951 31.05.2024 CET/CEST
| Name | WKN | Börse | Kurs | Datum/Zeit | Diff. | Diff. % | Geld | Brief | Erster | Schluss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
 |
VITA 34 AG NA O.N. | A0BL84 | Frankfurt | 4,320 | 25.06.24 21:49:54 | -0,080 | -1,82% | 0,000 | 0,000 | 4,440 | 4,400 |
