24.04.2014
Vita 34 AG DE000A0BL849
DGAP-News: Vita 34 AG: Increase in Profitability in Q1 Confirms Positive Growth Outlook 2014
DGAP-News: Vita 34 AG / Key word(s): Quarter Results
Vita 34 AG: Increase in Profitability in Q1 Confirms Positive Growth
Outlook 2014
24.04.2014 / 07:35
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Vita 34 AG: Increase in Profitability in Q1 Confirms Positive Growth
Outlook 2014
- Sum of operating income increased to EUR 3.5 million
- Earnings before interest, taxes, depreciation and amortization (EBITDA)
up 72 percent in annual comparison; strong EBITDA margin of 18.3
percent
- Earnings before interest and taxes, (EBIT) rose to EUR 0.3 million.
- Positive outlook for 2014: Introduction of umbilical cord tissue
storage throughout Germany and in international markets offers
potential for revenues and profits
Leipzig, 24 April 2014 - Vita 34 AG (WKN A0BL84), a pioneer in the storage
of stem cells from umbilical cord blood and tissue, and a specialist in
cryo-preservation, published its financial figures for the first three
months of fiscal year 2014 today. The company reported a positive start in
the current fiscal year. Vita 34 is continuing the prior year's positive
trend with an increased sum of operating profits, significantly higher
EBITDA and a positive result for the period.
In the first three months of 2014 the sum of operating profits was EUR 3.5
million, following EUR 3.3 million in the reference time period in 2013.
Among other things, the Biotechnology business segment that had been
expanded in 2013 contributed to the income from research and development
activities, as well as to a positive trend in the financial situation.
Revenues were stable EUR 3.2 million (Q1 2013: EUR 3.2 million). In
addition, the number of new storages of umbilical cord blood and tissue of
1,659 storages was at the prior year's level (Q1 2013: 1,614 new storages).
At the same time, Vita 34 was successful in increasing profitability. Apart
from the Biotechnology business segment, the optimization measures
consistently implemented in fiscal year 2013 contributed to this, and also
demonstrated an effect in the reporting period. For example, the selling
expenses decreased in the first quarter of 2014 to EUR 1.1 million
following EUR 1.2 million in the prior year's quarter. The earnings before
interest, taxes, depreciation and amortization (EBITDA) were increased in
the reporting period to EUR 0.6 million (Q1 2013: EUR 0.3 million).
Measured against revenues this is equivalent to a high EBITDA margin of
18.3 percent. The operating profit (EBIT) improved also and was EUR 0.3
million after the first three months of 2014, following EUR 0.1 million at
the end of Q1 2013. The period result increased to EUR 204k, after having
been negative at EUR -20k the prior year.
Dr. André Gerth, Chairman of the Management Board at Vita 34 AG, was
pleased with the result and development of the company: "We have further
increased profitability with stable revenues. The strong EBITDA margin of
18.3 percent underscores the profitability of our business activities. We
have confirmed our market leadership in the German-speaking countries with
the 100,000th storage of a stem cell preparation." For example, Vita 34 was
able to celebrate the 100,000th storage of a stem cell preparation, among
them the 1,500th storage with a donation option, in Leipzig in March 2014.
Moreover, during the reporting period the 26th transplant using a stem cell
preparation stored at Vita 34 was conducted. This outstanding application
rate of some 43 percent of all therapeutic stem cell applications reported
to Cord Blood Europe reflects the high quality of the preparations stored
at Vita 34.
Dr. Gerth is optimistic about future development: "During the reporting
period we continuously worked towards expanding our market position. Here,
the focus lays in particular on moving the storage of umbilical cord tissue
in Germany and with our international partners forward. We are now the only
stem cell bank in Germany that has a permit not only for the storage of
umbilical cord blood, but also umbilical cord tissue. We will consistently
use the resulting potential revenues and income."
Accordingly, Vita 34 has applied for permit for collecting tissue with all
of the 27 responsible agencies within Germany, in order to enter into
contracts for collecting umbilical cord tissue with all partner clinics in
Germany. At the end of the reporting period, the corresponding permits had
been received from 12 agencies. In addition, Vita 34 received an import
license for umbilical cord tissue from Switzerland in accordance with Sec.
72b German Pharmaceuticals Act (AMG) and a collection permit for umbilical
cord blood in accordance with Sec. 19 (2) of the Austrian Tissue Safety Act
(GSG) in Austria during Q1 2014. Vita 34 has advanced the introduction
umbilical cord tissue storage with our respective partners in Slovenia,
Romania, Bulgaria, Macedonia and Croatia. The first tissue storages from
Switzerland, Macedonia and Bulgaria have already taken place.
In light of the positive development of business, Vita 34 AG confirms the
prognosis made for 2014 in the 2013 annual report. This foresees a moderate
increase in revenues and an increase in EBITDA to approx. EUR 3.3 million.
The complete interim report for the first three months of 2014 is available
for download as of today on the website at www.vita34group.de in the
"Investor Relations" section.
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 more than104,000 children are
already taking advantage of this offering and have provided for their
children with a stem cell deposit.
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
End of News DGAP News-Service
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