Vita 34 closes 2023 with significantly better results than expected based on preliminary figures

Vita 34 AG / Key word(s): Annual Results/Forecast
Vita 34 closes 2023 with significantly better results than expected based on preliminary figures

19-Apr-2024 / 12:28 CET/CEST
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Vita 34 closes 2023 with significantly better results than expected based on preliminary figures

Leipzig, 19 April 2024 – According to the final key financial figures for fiscal year 2023 available today, Vita 34 AG closed the year significantly better in terms of earnings than expected by the Management Board on the basis of the preliminary business figures from the end of January. Accordingly, earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 5.6 million. In the publication of 31 January, the Management Board had expected EBITDA of EUR 4.0 million. The deviation is mainly related to higher positive effects from the harmonization of accounting in accordance with IFRS 15 and due to a significantly more positive assessment of the risks from hyperinflation in Turkey in the course of the annual financial statements than anticipated in the preliminary business figures.

Classification of earnings development in the overall development of the Company:

Revenues amounted to EUR 77.1 million in 2023, which corresponds to a year-on-year increase of 11.8 percent (2022: EUR 68.9 million). In the current financial year, the Management Board expects a further improvement in the Company's revenues and earnings situation. Accordingly, revenues of between EUR 81 and 88 million and EBITDA of between EUR 6.5 and 8.0 million are forecast for 2024.

The Company will publish the full annual report for the 2023 financial year on 30 April 2024 in accordance with the financial calendar.

Contact:
Vita 34 AG
Investor Relations
Phone: +49 (0341) 48792 – 40
E-mail: 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.

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