DGAP-News: Vita 34 AG: Positive Development of Business in the First Nine Months and Increase in 2013 Annual Forecast
(firmenpresse) - DGAP-News: Vita 34 AG / Key word(s): Quarter Results/Change in
Forecast
Vita 34 AG: Positive Development of Business in the First Nine Months
and Increase in 2013 Annual Forecast
24.10.2013 / 07:42
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Vita 34 AG: Positive Development of Business in the First Nine Months and
Increase in 2013 Annual Forecast
- Earnings before interest, taxes, depreciation and amortization (EBITDA)
rises to EUR 1.5 million; high EBITDA margin of 15.5%
- Clearly positive EBIT of EUR 0.7 million thanks to consistent
implementation of cost-optimization measures
- Ongoing positive business development expected thanks to
internationalization and expanded product range
Leipzig, 24 October 2013 - Vita 34 AG (WKN A0BL84), Europe's oldest private
stem cell bank and a specialist in cryo-preservation, published its
financial figures as of 30 September 2013 today. Altogether, the company
was able to continue the positive trend of the prior months in the third
quarter. Diversification of the business model has had a stabilizing effect
on the revenue trend. At the same time, the consistent implementation of
cost reduction measures has led to an increase in the profitability of Vita
34.
In the first nine months, Vita 34 was able to mainly compensate for a dip
in revenue in the Stem Cell Storage business segment caused by slightly
declining storage figures with revenues from the Biotechnology business
segment newly established in 2012. Correspondingly, the company posted
revenues in the reporting period totaling EUR 9.9 million, which were,
therefore, roughly at the same level as the prior year (prior year: EUR
10.1 million). In addition, the cost reduction measures consistently
implemented in the previous year had a significant effect on increasing
profitability: The selling expenses were reduced by 20.8% and
administrative expenses by 12.6% in an annual comparison. As a consequence
of this, the earnings before taxes, interest, depreciation and amortization
(EBITDA) increased significantly in the first nine months of 2013 to EUR
1.5 million, after EBITDA had been only EUR 0.2 million in the reference
period of the prior year. Measured against revenues, this is equivalent to
a high EBITDA margin of 15.5%. The operating profit (EBIT) also rose
significantly and was EUR 0.7 million in the reporting period (prior year:
EUR -0.6 million). The group result increased to EUR 0.3 million, following
EUR -0.5 million in the first nine months of 2012.
Dr. AndréGerth, Chairman of the Management Board of Vita 34 AG, was
pleased with the result earned: 'In the past years we have successfully
developed into the largest stem cell bank in the German-speaking countries,
and have strategically diversified our business model with two business
segments, Stem Cell Storage and Biotechnology. Despite the current
reticence with regard to stem cell storage, Vita 34 can look back on a
positive commercial development in the first nine months of 2013. We have
been successful in continuously increasing our profitability and again
delivering a positive overall result. Thus, we have clearly achieved our
goal,' declared Dr. Gerth. Strategically, Dr. Gerth sees Vita 34 as very
well positioned: 'We have set a decisive course for a positive development
of business in the future. We have pressed ahead with ouractivities on the
international market, and significantly expanded our product range with
'VitaPlusNabelschnur' [VitaPlusCord]. It can be assumed that due to this
new sales, profit and revenue potential will result, which Vita 34 will use
for expanding its leading position in the storage of umbilical cord blood
and tissue.'
After the company had received a permit for the processing,
cryo-preservation and storage of umbilical cord tissue according to§20c
German Pharmaceuticals Act (AMG) in May 2013, at the end of Q3 the company
was granted a collection permit for umbilical cord tissue according to§20b
AMG for clinics in Germany. Thus, Vita 34 is the first and only private
stem cell bank in Germany that is permitted to store umbilical cord blood
and tissue according to Good Manufacturing Practice (GMP) guidelines and,
thus, Vita 34 is following the international trend towards applications of
mesenchymal stem cells. The expansion strategy outside of Germany was also
successfully advanced: Via a cooperative venture with the Serbian company
Bio Save, Vita 34 further expanded its presence in Q3 2013 to Romania and
Croatia, and is working on two new, innovative environmental projects in
Brazil and Vietnam in the Biotechnology business segment.
In light of the very positive development of business in the first three
quarters of the current fiscal year, the company is solidifying its
prognosis for the year. The company is confident of being able to earn a
positive EBITDA of at least EUR 1.5 million in fiscal year 2013.
The complete 9-month report 2013 is available for download as of today on
the website at
www.vita34group.de in the 'Investor Relations' section.
Overview of key financial data (In millions of Euro):
01 Jan - 01 Jan -Company Profile
30 Sep 2013 30 Sep 2012
Umbilical cord blood storages (number) 5,382 5,570
Revenues 9.9 10.1
Gross Profit 5.7 6.3
EBITDA 1.5 0.2
EBIT 0.7 -0.6
Period result 0.3 -0.5
Earnings per share (in EUR) 0.11 -0.15
Balance sheet total 35.1 36.2
Equity 20.8 20.6
Equity ratio (in %) 59.2 56.9
Current interest-bearing loans 0.4 1.5
Cash and cash equivalents 2.8 3.1
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 and umbilical cord tissue.
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
98,000 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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24.10.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Vita 34 AG
Deutscher Platz5a
04103 Leipzig
Germany
Phone: +49(0341)48792-40
Fax: +49(0341)48792-39
E-mail: ir(at)vita34.de
Internet: www.vita34.de
ISIN: 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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