2022 annual result of Vita 34 AG significantly influenced by impairment of goodwill

Vita 34 AG / Key word(s): Preliminary Results
2022 annual result of Vita 34 AG significantly influenced by impairment of goodwill

06-Apr-2023 / 20:39 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

2022 annual result of Vita 34 AG significantly influenced by impairment of goodwill

Leipzig, 6 April 2023 - As part of the 2022 audit of the consolidated financial statements, the Group's auditor PwC today materially completed the impairment test of goodwill. This results in a non-cash impairment totaling EUR 13.8 million, which is largely based on significant increase in market interest rates. This fact will have a significant negative impact on the Company's 2022 annual results.

Based on preliminary business figures, consolidated sales in the past financial year will amount to EUR 68.9 million and earnings before interest, taxes, depreciation and amortization (EBITDA) to EUR -3.6 million. Consolidated sales are thus expected to be in the middle of the forecast range of EUR 65 to 72 million and EBITDA at the upper end of the forecast range of EUR -6.0 to -3.0 million. Due to the impairment, however, earnings before interest and taxes (EBIT) are expected to be EUR -27.3 million and thus - like all subsequent earnings figures - significantly below market expectations.

--- End of inside information pursuant to Art. 17 MAR ---

The company will publish the full Annual Report 2022 as scheduled on 28 April 2023.

Contact:
Ingo Middelmenne
Investor Relations
Vita 34 AG
Phone: +49 (0341) 48792 - 0
Mobile: +49 (0174) 9091190
Email: ingo.middelmenne@vita34.de

Company profile

Vita 34 was founded in Leipzig in 1997 and is today by far the leading cell bank in Europe and the third largest worldwide. As Europe's first private cord blood bank and a pioneer in cell banking, the company has since offered collection logistics, processing and storage of stem cells from umbilical cord blood, umbilical cord tissue and other postnatal tissue as a full-service provider for cryopreservation. Based on the expansion of the business model in 2019, Vita 34 intends to also offer the storage of immune cells from peripheral blood as well as stem cells derived from adipose tissue in the future. Endogenous cells are a valuable starting material for medical cell therapy and are kept alive at temperatures around minus 190 degrees Celsius. Around 700,000 customers from more than 30 countries have already provided for their family's health with more than 850,000 units of stored biological materials at Vita 34.

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