DGAP-News: Vita 34 AG: Vita 34 returns to Profitability
(firmenpresse) - DGAP-News: Vita 34 AG / Key word(s): Half Year Results
Vita 34 AG: Vita 34 returns to Profitability
25.07.2013 / 07:34
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Vita 34 AG: Vita 34 returns to Profitability
- Successful increase in efficiency with a significant positive effect on
group profits
- Earnings before interest, taxes, depreciation and amortization (EBITDA)
boosted to EUR 898k, strong EBITDA margin of 13.8%
- Positive operating profit (EBIT) of EUR 308k following EUR -476 the
year before
Leipzig, July 25, 2013 - Vita 34 AG (WKN A0BL84), Europe's oldest private
stem cell bank and a specialist for cryo-preservation, published its
financial data for the first six months of the year 2013 today. The company
was able to post a positive development in the current fiscal year 2013.
Earnings before interest, taxes, depreciation and amortization (EBITDA)
increased significantly in the first half-year 2013 to EUR 898k, following
EUR 27k in the first half-year 2012. Measured against revenues, Vita 34
earned a very strong EBITDA margin of 13.8%. EBIT also increased
significantly, and in the 2013 reporting period was EUR 308k (first
half-year 2012: EUR -476k). The cost-reduction measures initiated in fiscal
year 2012 and continued successfully in the reporting period had a positive
effect. In all, the company succeeded in reducing selling expenses
significantly in the first half-year 2013 by 26.4% to EUR 2.4 million from
EUR 3.2 million in the prior year's period. The group result improved
markedly as a result to EUR 68K, in the wake of EUR -375k in the comparable
period in 2012.
In the reporting period Vita 34 posted revenues of EUR 6.5 million, which
was at the prior year's level of EUR 6.6 million. Overall, gross profit was
reduced to EUR 3.7 million (first half-year 2012: 4.1 million), which is
equivalent to a gross margin of nearly 57%. In the first half-year 2013 the
number of umbilical cord blood storages totaled 3,750 and was, therefore,
with only 4% only slightly lower than the prior year's period with 3,718
umbilical cord blood storages.
Dr. AndréGerth, Chairman of the Management Board at Vita 34 AG, was
pleased with the profit earned and development of the company as a whole:
'With a positive EBIT and a significantly increased EBITDA, we have reached
our goals completely in the first six months. We have been able to increase
the EBITDA margin to 13.8%. We see the fact that we have been able to do
this with the current reticence regarding umbilical cord blood storage as
clear evidence for the viability and sustainability of our business
model.'Above all, this was made possible by the successful implementation
of measures for increasing efficiency and profitability. Dr. Gerth is also
optimistic about the future: 'We have continuously pursued our expansion
strategy via cooperative ventures and sales partners outside of Germany for
a positive future development, and have opened up additional, strategic
sales opportunities for ourselves in attractive markets. Moreover, we have
successfully concluded preparations for expanding our product range.'
Thus, Vita 34 made important headway on the international markets in the
first six months of 2013: The cooperative sales arrangement with partner
Bio Save d.o.o. was expanded to Montenegro, Macedonia, Bosnia-Hercegovina,
Romania and Croatia. In Bulgaria, Vita 34 is now working together with an
additional cooperation partner. Vita 34 will, as is usual in the case of
European cooperative ventures, handle the preparation and storage of the
umbilical cord blood in Leipzig.
The company has also created all of the prerequisites for the planned
expansion of the product range with 'VitaPlusNabelschnur'
[VitaPlusUmbilicalCord], in order to perform the storage of umbilical cord
tissue in accordance with Good Manufacturing Practice guidelines (GMP).
With the expected permit issuance this year, Vita 34 will be the only
private umbilical cord blood bank in Germany that can not only store
umbilical cord blood, but also umbilical cord tissue, thus following the
international development for the use of mesenchymal stem cells.
Dr. Gerth considers himself well positioned for the long-term strategic
company orientation. 'We have taken decisive steps for opening up
additional growth markets and for a positive future development of
business. In the long term, we will energetically pursue the development
from an umbilical cord blood bank to a service provider and supplier of
cell products for pharmaceutical and therapeutic applications. We also want
to make an international name for ourselves as a stem cell bank and
specialist for cryo-preservation.'
From today onwards the complete interim report covering the first six
months of 2013 can be downloaded from the 'Investor Relations' section of
the company's website at www.vita34group.com.
Overview of financial data (in EUR k):
H1 2013 H1 2012
Revenues 6,502 6,626
Gross Profit 3,680 4,081
EBITDA 898 27
EBIT 308 -476
Earnings for the period 68 -375
Earnings per share (in EUR) 0.04 -0.14
Balance sheet total 35,039 34,352
Equity 20,562 19,634
Equity ratio 58.7 57.1
Current interest-bearing loans 717 1,791
Cash and cash equivalents 2,625 2,635
Company Profile
Vita 34 was founded in 1997 as the first private umbilical cord blood bank
in Europe and, as a complete provider, offers collection logistics,
preparation and storage of umbilical cord blood. The basis for its
successful work is an outstanding position in the technological segment of
cryo-preservation. Here, cells and tissues are preserved alive at
temperatures around minus 190 degrees Celsius, and can be used if needed in
the context of medical treatment. Parents of more than 95,000 children are
already taking advantage of this offering and have provided for their
children with a stem cell deposit at this Leipzig company.
End of Corporate News
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25.07.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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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(at)vita34.de
Internet: www.vita34.deISIN: DE000A0BL849
WKN: A0BL84
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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222791 25.07.2013
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Datum: 25.07.2013 - 07:34 Uhr
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