27.03.2014
Vita 34 AG DE000A0BL849
DGAP-News: Vita 34 AG: Vita 34 AG Starts Fiscal Year 2014 Highly-Profitable and Full of Optimism
DGAP-News: Vita 34 AG / Key word(s): Final Results
Vita 34 AG: Vita 34 AG Starts Fiscal Year 2014 Highly-Profitable and
Full of Optimism
27.03.2014 / 07:48
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Vita 34 AG Starts Fiscal Year 2014 Highly-Profitable and Full of Optimism
- Profitability significantly increased: High EBITDA margin of 19.6
percent in 2013
- Positive period profit of EUR 0.8 million confirms successful
development of business
- Continuous growth expected in 2014 by expanding international
activities and an extended product range
Leipzig, 27 March 2014 - Vita 34 AG (WKN A0BL84), a pioneer in the storage
of stem cell from umbilical cord blood and tissue, and a specialist in
cryo-preservation, published its financial figures for the year 2013 today.
The company was able to continue the positive trend of the prior quarters
in Q4, as well. Thereby the existing diversification of the business model
had a stabilizing effect on the revenue trend. The in 2012 newly
established Biotechnology business segment and the consistent
implementation of cost optimization measures contributed greatly to a
significant increase in profitability.
The total operating income in the reporting period rose to a total of EUR
14.9 million (2012: EUR 14.3 million). Revenues in the reporting period
were at the prior year's level of EUR 13.6 million (2012: EUR 13.6
million). The contribution to revenues made by the Stem Cell Storage
business segment was amounted to EUR 13.1 million (2012: EUR 13.3 million).
The trend in new storages in the core markets of Germany, Spain and Italy
was slightly declining. The total number of storages of umbilical cord
blood and tissue in 2013 was 7,167 (2012: 7,417 storages). At the same
time, thanks to the successful expansion of business activities in the
Biotechnology business segment, some EUR 0.5 million (2012: EUR 0.3
million) were earned here. In all, this business segment contributed EUR
1.4 million (2012: EUR 0.7 million) to the sum of operating profits of the
company.
Vita 34 was successful in increasing profitability significantly while
keeping revenues stable. The selling expenses were reduced by 18.6 percent,
and administrative expenses by 6.0 percent. Therefore, the ratio of
selling expenses was reduced to 34.7 percent (2012: 42.4 percent), and the
administrative costs to 21.4 percent (2012: 22.7 percent). The earnings
before interest, taxes, depreciation and amortization (EBITDA) in the 2013
reporting period trended positively, and could be significantly increased
to EUR 2.7 million (2012: EUR 0.4 million). This is equivalent to a high
EBITDA margin of 19.6 percent (measured against revenues). Moreover, the
operating profit (EBIT) improved significantly and was EUR 1.5 million in
fiscal year 2013, following EUR -0.7 million the prior year. Whereas the
group result in 2012 had still been negative, the group profit in 2013 was
EUR 0.8 million (prior year: EUR -0.6 million).
In light of the positive development, Dr. André Gerth, Chairman of the
Management Board at Vita 34 AG is very satisfied and sees outstanding
opportunities for the company in the current year 2014, as well. "In a
challenging market environment in 2013 we laid the cornerstone for
sustainable, profitable growth with the expansion of our product range,
increasing internationalization, as well as the consistent implementation
of optimization measures."
In the reporting period Vita 34 received the necessary permits for the
processing, cryo-preservation and storage of umbilical cord tissue. This
allows the company to enter into contracts for collecting umbilical cord
tissue with all partner clinics in Germany, Austria, and Switzerland. With
these permits granted in accordance with the German Pharmaceuticals Act,
Vita 34 is the only stem cell bank in Germany that can store not only
umbilical cord blood, but also umbilical cord tissue according to Good
Manufacturing Practice (GMP) guidelines. The first umbilical cord tissue
storages took place in 2013 already. The introduction of umbilical cord
tissue storage is being prepared with the respective partners in Slovenia,
Romania, Bulgaria, Macedonia, and Croatia, as well. With
"VitaPlusNabelSchnur" [VitaPlusCord] Vita 34 has decisively expanded its
product ranged and created opportunities for additional potential revenues
and profits.
At the same time, Vita 34 continued to expand its international presence in
the reporting period. Vita 34 expanded the cooperative sales venture with
its Serbian partner Bio Save d.o.o. to Macedonia, Bosnia-Hercegovina,
Romania, and Croatia, in order to profit from potential attractive markets
and additional income in the medium term. Outside of Germany Vita 34 offers
the storage of stem cells from umbilical cord blood and cord tissue on the
European and global market via subsidiaries and cooperative venture
partners in a total of 16 countries. As of year's end 2013 Vita 34 also had
acquired 75.24%, a majority share, of the umbilical cord blood bank
stellacure GmbH, and gained demonstrated competence in the field of private
umbilical cord blood banking.
Considering the positive development of business in 2013, Vita 34 is
confident of being able to continue the positive trend in fiscal year 2014.
Vita 34 expects a moderate increase in revenues and an increase in EBITDA
to approx. EUR 3.3 million. The company considers the major drivers of
growth to be its broad international presence, increased and targeted
marketing and sales measures, as well as expanded activities in research
and development for further expanding the product range.
The Supervisory Board approved the annual financial statements and annual
report of Vita 34 AG for fiscal year 2013 on 21 March 2014. Furthermore,
Dr. Hans-Georg Giering, who was elected as a member of the Supervisory
Board by the Annual General Meeting on 25 July 2013, was appointed Deputy
Chairman of the Supervisory Board.
The complete Annual 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):
01/01/-12/31/2013 01/01/-12/31/2012
Umbilical cord blood storages (number) 7,167 7,417
Revenues 13.6 13.6
Total operating income 14.9 14.3
Gross Profit 8.1 8.0
EBITDA 2.7 0.4
EBIT 1.5 -0.7
Earnings for the period 0.8 -0.6
Earnings per share (in EUR) 0.28 -0.20
Balance sheet total 35.6 36.6
Equity 21.3 20.5
Equity ratio (in %) 59.8 56.0
Cash and cash equivalents 2.9 3.5
Company Profile
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 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 approximately 100,000 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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Language: English
Company: Vita 34 AG
Deutscher Platz 5a
04103 Leipzig
Germany
Phone: +49(0341)48792-40
Fax: +49(0341)48792-39
E-mail: [email protected]
Internet: www.vita34.de
ISIN: DE000A0BL849
WKN: A0BL84
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
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