DGAP-News: Vita 34 AG
/ Key word(s): Quarterly / Interim Statement
21.11.2019 / 07:30
The issuer is solely responsible for the content of this announcement.
Sales growth in core markets further increases margins for Vita 34
Leipzig, 21 November 2019 – Vita 34 AG (ISIN: DE000A0BL849, WKN: A0BL84), one of the largest cell banks in Europe, has grown again in the past quarter and has further increased its profitability. Sales growth in the DACH region and in the foreign markets made a significant contribution to the continued positive development of earnings.
In the third quarter of 2019, Vita 34 again posted a significant 7.4 percent increase in revenues compared with the previous quarter to EUR 5.4 million (Q2 2019: EUR 5.0 million). For the first time since the restructuring of the Scandinavian market and the exchange of distribution partners, revenues thus returned year-on-year to the level prior to the implementation of the efficiency measures (Q3 2018: EUR 5.4 million). In comparison to the first nine months of the previous year, however, a slight decline in revenues of 2.8 percent to EUR 15.1 million was recorded (9M 2018: EUR 15.6 million).
At the same time, however, the efficiency measures also had a sustained impact on the earnings development of the company in the past quarter. EBITDA in the first nine months of the financial year increased by 38.4 percent to EUR 4.5 million (9M 2018: EUR 3.3 million). The EBITDA margin increased again, marking another high at 30.0 percent (9M 2018: 21.1 percent). Looking at the third quarter separately, it even reached 32.8 percent (Q3 2018: 23.9 percent).
As a result of the strong operating performance, cash flow from operations also increased again significantly and, at EUR 4.6 million, was 25.4 percent up on the previous year (9M 2018: EUR 3.7 million). Cash and cash equivalents increased to a similar extent, amounting to EUR 8.7 million at the end of the quarter (31.12.2018: EUR 7.0 million).
Overall, the key performance indicators for the business development in the first nine months of 2019 are as follows:
“In the past quarter, we once again demonstrated that Vita 34 is in the meantime highly profitable in its core business, but is also growing. We have everything a growth company needs to bring with it,” Falk Neukirch, Chief Financial Officer of Vita 34 AG, explains. “Healthy growth in its core markets, an efficient and profitable structure and sufficient liquidity to continue to succeed in its traditional and new markets.”
As previously announced, Vita 34 plans to further consolidate and expand its successful market position in Europe with the launch of new product lines. In the past quarter, the company has accordingly further specified its milestone planning for the new product immune cell isolate for perspective application in the context of existing and future cell-based therapies. “Cell-based therapies rely on consistently high quality of the starting products. We know the high market entry barriers in this area and have therefore analyzed these with particular care. After extensive preparations, we will test our cell isolation process and the immune cells derived from it in the first half of 2020 in in vitro studies,” explains Dr. Wolfgang Knirsch, CEO of Vita 34. “We expect the successful completion of this development step by the end of next year. In vivo studies will follow, but are not the basis for our official product launch and market entry, but an important building block for the sustainable success of the new product line. We are optimally prepared technologically, in terms of personnel and financially to successfully master all the challenges ahead of us.”
For further information on current business developments, the Management Board and Investor Relations are always available for further discussions. Further information on the company, the current company presentation as well as the detailed quarterly statement can be found in the Investor Relations section of the Vita 34 AG website at https://www.vita34.de/investor-relations/.
21.11.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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|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|
|EQS News ID:||917511|
|End of News||DGAP News Service|