Vita 34 AG publishes outlook for the 2023 financial year

Vita 34 AG / Key word(s): Forecast
Vita 34 AG publishes outlook for the 2023 financial year

25-Apr-2023 / 18:43 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.

Vita 34 AG publishes outlook for the 2023 financial year

Leipzig, April 25, 2023 - In the context of the preparation of the consolidated financial statements 2022, the Management Board today approved the outlook report on the expected business development of Vita 34 AG in the 2023 financial year. Based on current analyst estimates, the Management Board assumes that the outlook for consolidated revenue and consolidated EBITDA for the 2023 financial year will deviate significantly from market expectations.

Due to what the Management Board considers to be an overall improvement in the environment for the Group's business activities and the implementation of efficiency enhancement measures, the Management Board expects consolidated revenue in the range of EUR 75 to 82 million and earnings before interest, taxes, depreciation and amortization (EBITDA) in the range of EUR 5.5 to 7.0 million for the current financial year 2023. This includes expected positive effects from accounting in accordance with IFRS 15 amounting to EUR 5.7 million, which will have an impact on both revenue and earnings, but will not affect liquidity. The forecast is based on a constant exchange rate of the euro to the Polish zloty and other currencies (HUF, RON, TRY, GBP) compared to March 31, 2023. Effects from possible acquisitions, including any transaction costs resulting from this, are not included in the outlook.

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

According to current planning, the company will publish the complete Annual Report 2022 on April 30, 2023.

Contact:
Ingo Middelmenne
Investor Relations
Vita 34 AG
Phone: +49 (0341) 48792 - 0
Mobile: +49 (0174) 9091190
E-Mail: 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 tissues as a full-service cryopreservation provider. Based on the expansion of the business model that took place after the merger with PBKM, the company intends to invest in the areas of Cell and Gene therapies and CDMO. The body's own cells are a valuable starting material for medical cell therapy and are kept alive in the vapors of liquid nitrogen. Customers from around 50 countries have already ensured the health of their families with more than 850,000 units of stored biological material at Vita 34.

25-Apr-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com