Vita 34 AG: Half-year figures characterized by increasing momentum in core market Germany
DGAP-News: Vita 34 AG / Key word(s): Half Year Results
Half-year figures characterized by increasing momentum in core market Germany
– Sales revenues increase by 24.8 percent to EUR 10.2 million, EBITDA increases to EUR 2.0 million
– One-time special effects from the cost reduction program in Scandinavia
– German market is gaining momentum with strong order intake
Sales revenue in the first half of the year increased by 24.8 percent year-on-year to EUR 10.2 million (H1 2017: EUR 8.2 million). At EUR 2.0 million, earnings before interest, taxes, depreciation and amortization (EBITDA) were significantly up on the previous year (H1 2017: EUR -0.3 million), in which one-off acquisition-related special effects had a negative impact on earnings. In the past second quarter of 2018, one-time special effects of approximately EUR 0.2 million were recorded, which are to a large extent related to the cost-cutting program in Scandinavia adopted in June. The program will phase out active marketing activities in Denmark, Sweden and Norway starting in July 2018, resulting in, among other things, a negative impact on earnings from costs for legal advice and provisions for personnel measures. At 19.6 percent, the EBITDA margin was still around the target margin of 20.0 percent. From 2019, the Scandinavian subsidiary will contribute sustained positive EBITDA of around EUR 0.5 million to Group EBITDA.
The financial position of the company also continued to develop very solidly. Cash flow from operating activities again reached a high level of EUR 1.6 million (H1 2017: EUR -0.1 million). At EUR 4.0 million, cash and cash equivalents were slightly below the previous year’s level
The key performance indicators for the business development in the first half of 2018 are as follows:
The general business development was buoyed by rising demand in the core market of Germany, which continued to gain momentum overall. On the other hand, as already anticipated, ramp-up effects in connection with the change of distribution partners in Italy and Romania had a dampening effect. Overall, the Management Board assesses the current situation of the company as extremely positive. “The months of May, June and July were record months for the German market. Our order intake is currently at an all-time high, “explains Dr. Wolfgang Knirsch, CEO of Vita 34 AG. “Last but not least, we attribute this to our new entry-level product VitaPUR. For many customers, the product raises the fundamental interest in stem cell storage. Ultimately, however, prospective customers often opt for our classic product range.”
The Board of Management maintains the forecast for business development in the current year 2018 in unchanged form. The Management Board will be available to qualified investors, analysts and press representatives today at 1:00 pm CET in the course of an open conference call for further details on the developments in the first half of 2018. Registration is done by e-mail via the Investor Relations department (firstname.lastname@example.org).
Further information on Vita 34 AG and its product range is available on the company’s website at www.vita34.de.
Phone: +49 (0341) 48792 – 0
Vita 34 was founded in Leipzig in 1997 as the first private stem cell bank in Europe and, as a complete provider of cryo-preservation services, offers collection, logistics, preparation, and storage of stem cells from umbilical cord blood and tissue. Stem cells are a valuable base material for medical cell therapy and are kept alive at temperatures of minus 180 degrees Celsius, in order to be available for use in a treatment if needed. Over 215,000 customers from more than 20 countries have already provided for their children’s future with a stem cell deposit at Vita 34.
|Company:||Vita 34 AG|
|Deutscher Platz 5a|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|