PRESS RELEASE : Vita 34 again increases sales and margins in the third quarter – marketscreener.com

DGAP-News: Vita 34 AG / Key word(s): Quarter Results Vita 34 again increases sales and margins in the third quarter 2021-11-11 / 07:30 The issuer is solely responsible for the content of this announcement.

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Vita 34 again increases sales and margins in the third quarter . Revenues of EUR 16.6 million in the first nine months of 2021, up 11.7 percent on previous year . Adjusted EBITDA up 16.1 percent to EUR 5.1 million . Adjusted EBITDA margin at 30.4 percent, following on from previous records Leipzig, 11 November 2021 - Vita 34 AG (ISIN: DE000A0BL849; WKN: A0BL84), one of the largest cell banks in Europe, continued to grow significantly in the third quarter of 2021 in an unchanged good market environment. At the same time, operating profitability continued to increase, building on the high levels achieved before the pandemic. Revenues in the first nine months increased by 11.7 percent to EUR 16.6 million (9M 2020: EUR 14.9 million), slightly above plan. As in previous quarters, sustained high demand was evident, particularly in the DACH region, largely due to optimal conversion of marketing spend. "Once again, it has been shown that our very high marketing expenditures, but combined with a strategy that is optimally aligned with the market, are the key to disproportionately high revenue and earnings growth by historical standards," explains Dr. Wolfgang Knirsch, CEO of Vita 34 AG. "Accordingly, we will maintain the high marketing expenditures in the future and further professionalize our approaches." In addition to new business, however, it was primarily contract extensions that provided positive impetus to revenues and earnings. Since the beginning of 2020, prepayment contracts with terms of mostly 20 years have been ending to a greater extent and are due to be converted into annual payment contracts. Currently, the number of contract extensions is around 80 percent of the number of new contracts. Only around four percent of customers currently decide not to continue their contracts. In the coming years, this effect will continue to contribute to a constant increase in recurring revenues and have a disproportionately positive impact on earnings. "Before the forthcoming merger with PBKM, it is once again very clear how healthy Vita 34 is already developing on an independent basis," emphasizes CEO Dr. Wolfgang Knirsch. "The merger will promote this development disproportionately. The two companies complement each other perfectly in their focus, and there is hardly any overlap in market coverage. The combined group will have a much stronger impact on the overall market than either company has been able to do on a stand-alone basis to date." Looking at the first nine months, earnings before interest, taxes, depreciation and amortization (EBITDA) were down 13.6 percent year-on-year at EUR 3.7 million (9M 2020: EUR 4.3 million). By contrast, EBITDA adjusted for the special effect of the merger with PBKM was up 16.1 percent year-on-year at EUR 5.1 million (9M 2020: EUR 4.4 million). At 30.4 percent for the nine-month period and 32.4 percent in the third quarter, the adjusted EBITDA margin was on a par with the most profitable quarters before the outbreak of the pandemic. "There is no question that the special effects from the intended merger with PBKM represent a not inconsiderable additional burden for us. And costs are to be expected here again in the fourth quarter," underlines Andreas Schafhirt, CFO of Vita 34. "The better we prepare this important step today, the smoother and faster the transition and integration phase will be." The management boards of both companies see the transaction progressing according to plan so far, following the completion of the exchange offer on 2 November. At the end of the exchange offer, the proportion of shares tendered for exchange exceeded the transaction's minimum acceptance threshold of 95 percent. The key figures on business development are as follows:

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2021-11-11 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at http://www.dgap.de

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1248015 2021-11-11

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(END) Dow Jones Newswires

November 11, 2021 01:31 ET (06:31 GMT)

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PRESS RELEASE : Vita 34 again increases sales and margins in the third quarter - marketscreener.com