DGAP-News: Vita 34 AG / Key word(s): Annual Results30.03.2021 / 07:30 The issuer is solely responsible for the content of this announcement.
Vita 34 continues to grow in 2020 in core markets after good year-end business
Leipzig, 30 March 2021 - Vita 34 AG (ISIN: DE000A0BL849; WKN: A0BL84), one of the largest cell banks in Europe, closed the 2020 financial year slightly above previous year's level after a good fourth quarter. In the year-end business, the company succeeded in overcoming the pandemic-related weaker market environment in the core markets of the DACH region and generated sales increases again.
With revenues of EUR 20.1 million (2019: EUR 19.9 million), the company succeeded in the intended trend reversal in the third and fourth quarters after a weaker start to the year. This development still shows a clear development gap between the markets in the DACH region, which are developing positively again, and the markets in Southern Europe, which are still noticeably affected by the pandemic. However, the situation in these countries has also been improving since the turn of the year.
In the course of 2020, it became clearer from quarter to quarter that the investments made in recent years in digitizing the company's marketing and sales processes are increasingly paying off. Despite pandemic-related lock downs, it was thus possible to interest an increasing number of health-conscious customers in stem cell storage, although proven multipliers such as gynecologists and midwives were only able to maintain contact with their patients to a significantly lesser extent during COVID-19. "In the current environment, our high level of digitalization is an absolute asset for our company," explains Dr. Wolfgang Knirsch, CEO of Vita 34 AG. "This gives us better opportunities to establish intensive contact with customers and multipliers via intelligent targeting processes. This measurably increases the success of our marketing efforts and maximizes our sales opportunities."
Earnings before interest, taxes, depreciation and amortization (EBITDA) were down 1.6 percent overall year-on-year at EUR 5.3 million (2019: EUR 5.4 million). Adjusted for the consulting costs resulting from the takeover offer of AOC Health GmbH as well as the examination of a possible merger with PBKM in the amount of EUR 0.5 million, however, it even increased slightly on the basis of the purely operational development. "A takeover offer, the review of a merger and all costs directly related to this represent a special financial effect for our company," explains Falk Neukirch, CFO of Vita 34. "As we still expect significant costs in this context in 2021, we have decided to introduce an adjusted EBITDA from the current financial year. This should make it easier for our investors to better evaluate our actual operating performance." With further reduced administrative costs and even slightly increased marketing and selling expenses, the EBITDA margin amounted to 26.6 percent. Adjusted for the costs of the takeover bid, it was 29.1 percent.
Compared to the full-year guidance, which assumed a range of EUR 19 to 21 million for revenues and a range of EUR 4.8 to 5.8 million for EBITDA, 2020 revenues and EBITDA were correspondingly in the middle of the range. Measured in terms of adjusted EBITDA, i.e. the purely operational development of the company, the EBITDA forecast was even exceeded.
The key figures for business development are as follows:
* Prior-year figures adjusted. The adjustments are explained in the notes to the consolidated financial statements under 2.3.
At EUR 4.0 million, operating cash flow was around a third lower than in the previous year (2019: EUR 6.3 million). The main reasons for this are the increased demand since the second quarter of 2020 for annual payment contracts under the PUR pricing model, which involve lower upfront payments than under the conventional pricing model and thus increase working capital, as well as scheduled tax payments for prior periods. The increase in inventories to safeguard process stability during the pandemic had a minor impact on working capital. Cash and cash equivalents nevertheless increased further and, at EUR 10.4 million at the end of 2020, underline the Group's solid financial structure (31.12.2019: EUR 9.1 million).
The future and development projects, in particular the storage of immune cells from adult peripheral blood and the storage of fat cells for use in aesthetic medicine ("AdipoVita"), continue to develop according to plan. With the Institute for Radiopharmaceutical Cancer Research of the Helmholz Center in Dresden-Rossendorf (HZDR), a renowned project partner could be won for a research cooperation. Within the framework of the collaboration, the principal suitability of cryopreserved immune cell isolates for the production of immune cell therapeutics will initially be examined in preclinical scientific work. The influence of long-term storage of immune cell preparations on cell therapy quality will also be analyzed.
Against the backdrop of the positive business development, particularly in the second half of 2020, and the improving market environment, the Management Board considers the company's prospects for success to be very good. For the full year, the Management Board accordingly expects revenues of between EUR 20.3 and 22.3 million and adjusted EBITDA (reported EBITDA adjusted for negative special effects due to consulting costs as a result of a potential merger with PBKM) of between EUR 5.5 and 6.1 million.
The Management Board of Vita 34 AG will be available to interested investors, analysts and members of the press today at 1 p.m. for additional explanations on the business development within the framework of an open telephone conference. Registration for this takes place by e-mail via the Investor Relations departments (email@example.com).
Contact:Ingo MiddelmenneInvestor RelationsVita 34 AGTelefon: +49 (0341) 48792 - 0Mobil: +49 (0174) 9091190E-Mail: firstname.lastname@example.org
Company profileVita 34 was founded in 1997 in Leipzig and is today one of the leading cell banks in Europe. As Europe's first private cord blood bank and a pioneer in cell banking, the company has since offered collection logistics, processing and storage of stem cells from umbilical cord blood and tissue as a full-service provider for cryopreservation. Based on the expansion of the business model in 2019, Vita 34 also intends to offer the storage of immune cells from peripheral blood and stem cells from autologous fat in the future. Endogenous cells are a valuable starting material for medical cell therapy and are kept alive at temperatures around minus 200 degrees Celsius so that they can be used as part of a treatment if required. More than 247,000 customers from more than 20 countries have already provided for their family's health with a cell depot at Vita 34.
30.03.2021 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
Read more here:
- Cord Blood Banking Service Market is Projected to Showcase Significant Growth USD 2,772 million at CAGR +13% up to 2027| Cord Blood America, Inc., CBR... - July 29th, 2021
- Be wary of stem cell treatments; blood pressure meds help with dementia - Hometown Focus - July 29th, 2021
- Protein Discovery Links Together Two Forms of ALS - Technology Networks - July 29th, 2021
- Umbilical Cord Blood Banking, Umbilical Cord Stem Cells ... - July 21st, 2021
- Cord Blood Registry (CBR) | CordBloodBanking.com - July 21st, 2021
- About CBR - Cord Blood Registry - July 21st, 2021
- Blood-Forming Stem Cell Transplants - National Cancer ... - July 21st, 2021
- Global Stem Cell Umbilical Cord Blood Market 2021 | Key Players Market With Pre & Post COVID-19 Impact Analysis | In Depth Insight | Growth &... - July 21st, 2021
- Mesenchymal Stem Cells Market Witnesses Upward Trend with High Prevalence of Parkinson's Disease The Manomet Current - The Manomet Current - July 21st, 2021
- New Blood - Weizmann Wonder Wander - News, Features and Discoveries - Weizmann Institute of Science - July 17th, 2021
- New CEO, check. $172M round, check. Wugen's off-the-shelf cell therapies are ready for takeoff - FierceBiotech - July 17th, 2021
- Huge Growth of Cord Blood Banking Services Market by 2027 | Cryo-Cell, Virgin Health Bank., Cryo-Cell International, Inc., Cryo-Save AG The Manomet... - July 17th, 2021
- Is this how Meghan Markle is raising Lilibet? From smart cots to placenta pills the popular way to p... - The US Sun - July 7th, 2021
- Impact of NK cell-based therapeutics for Lung Cancer Therapy | BTT - Dove Medical Press - July 7th, 2021
- Cordlife India - Umbilical cord Blood Banking - July 5th, 2021
- Cord blood bank - Wikipedia - July 5th, 2021
- Canadian Blood Services Stem Cells for Life - July 5th, 2021
- Mouse Embryo With Beating Heart Created From Stem Cells By Scientists - IFLScience - July 3rd, 2021
- Recent updates in Stem Cells Market: Research Report Segmented by Applications, Geography, Trends and Projection 2028 The Courier - The Courier - June 27th, 2021
- Global Cord Stem Cell Banking Market Size, Share, Business Trends, Competitive Analysis, Growth Factors and Forecasts To 2028 The Courier - The... - June 27th, 2021
- Hematopoietic Stem Cell Transplantation (HSCT) Market Analysis Report By Product, By Application, By End Use, By Region And Segment Forecasts 2027 ... - June 27th, 2021
- Spinal Fusion Market Challenges, Key Players, Industry Segments, Development, Opportunities, Forecast Report 2027: Charter, Worthington Industries,... - June 27th, 2021
- World's First Umbilical Cord Blood Stem Cell Pool Banking - June 24th, 2021
- Cord Blood and Tissue Banking | New England Cord Blood Bank - June 24th, 2021
- List of FDA Approved Stem Cell Treatments - Cord For Life - June 24th, 2021
- Cord Blood Banking | UK Stem Cell Bank | Biovault Family - June 24th, 2021
- Umbilical Cord Blood Banking Canada & Stem Cells Storage ... - June 24th, 2021
- stem cells - SlideShare - June 24th, 2021
- Gamida Cell Announces Publication in Blood, the Journal of the American Society of Hematology, of the First Pivotal Trial to Evaluate a Cell Therapy... - June 24th, 2021
- Global Nerve Repair and Regeneration Devices Market to Reach $11. 8 Billion by 2026 - GlobeNewswire - June 24th, 2021
- Stem Cell Cryopreservation Equipments Market 2021 Global Trends, Share, Growth, Analysis, Opportunities and Forecast to 2027 KSU | The Sentinel... - June 24th, 2021
- Catalent to Acquire RheinCell Therapeutics, Strengthening a Path Towards Industrialization of Induced Pluripotent Stem Cell-based Therapies - WFMZ... - June 24th, 2021
- Global Cord Stem Cell Banking Market Status, Business Trends, Competitive Analysis, Growth Factors and Forecasts To 2028||Cryo-Cell International,... - June 20th, 2021
- Global $15.52 Bn Cell Isolation (Human Cells and Animal Cells) - GlobeNewswire - June 20th, 2021
- Stem Cells in the Treatment of Diabetes | Cryo-Cell - June 16th, 2021
- Uses & Importance of Umbilical Cord Stem Cells | NECBB - June 16th, 2021
- Cord blood stem cells: a review of potential neurological ... - June 16th, 2021
- Umbilical Cord Stem Cells Medical Society - June 16th, 2021
- Cord Blood Stem Cells Market Set to Grow with Massive CAGR by 2028. Major Players Advanced Cell Technology, California Stem Cell, Cytori... - June 16th, 2021
- Biopreservation Market Report Provides An In-Depth Insight Of Demand And Trends Forecast To 2027 The Manomet Current - The Manomet Current - June 14th, 2021
- What Are Stem Cells and Why Are They Important? - News & Features - June 13th, 2021
- Simone Anderson cleared by ASA over cord blood post but accused of deleting negative comments - New Zealand Herald - June 13th, 2021
- Stem Cell manufacturing Market Study including Growth Factors, New Top Players, Competitive Analysis by regions from 2020 to 2028 The Manomet Current... - June 13th, 2021
- Brave Nathaniel Nabena, 9, all smiles as he has life-saving procedure - thanks to you - The Mirror - June 9th, 2021
- Global Analysis of Cord Blood Stem Cells Market Size 2021-2026 By Industry Demand, Growth Share and Competitive Landscape Jumbo News - Jumbo News - June 9th, 2021
- MedShadow Foundation Reports on Two Decades of Research and Regulation of Stem Cell Therapy - PRUnderground - May 30th, 2021
- Biobanks Market Research Report Including SWOT Analysis, PESTELE Analysis, Drivers, Restraints, Global Industry Outlook and Key Players Analysis By... - May 26th, 2021
- What is lab grown meat? A scientist explains the taste, production and safety of artificial foods - BBC Focus Magazine - May 26th, 2021
- Global Hematopoietic Stem Cells Transplantation Market 2021: Industry Analysis, Size, Share, Trends and Forecasts 2026 KSU | The Sentinel Newspaper -... - May 26th, 2021
- Biobanks Market Revenue, Size Industry Statistics, Share, Analysis and Global Research Report, 2020-2027 The Courier - The Courier - May 22nd, 2021
- AB-205 Shows Promise in Patients With Systemic Lymphoma Undergoing HDT-ASCT - Targeted Oncology - May 22nd, 2021
- Research on Cord Blood Stem Cells Market Key Data Points Necessary for Effective Strategies | Advanced Cell Technology, California Stem Cell, Cytori... - May 20th, 2021
- Global Hematopoietic Stem Cell Transplantation (HSCT) Market is anticipated to grow at a CAGR of 6.9% by 2025 - Market Primes - May 20th, 2021
- Amazon in talks to buy MGM movie studio - The Information - Yahoo Finance UK - May 20th, 2021
- Stem Cell Banking Market Size, Revenue, Growth Opportunities, Competitive Analysis, Trends and Demand by 2026 The Manomet Current - The Manomet... - May 20th, 2021
- Swab To Save a Life event to be held at Berlin Boro Hall - nj.com - May 20th, 2021
- Caribou Biosciences Announces Appointment of Katy Rezvani, M.D., Ph.D. and Christopher Sturgeon, Ph.D. to its Scientific Advisory Board - Business... - May 20th, 2021
- Repeated infusion of mesenchymal stem cells maintain the condition to inhibit deteriorated motor function, leading to an extended lifespan in the... - May 10th, 2021
- Smart Immune Announces FDA Orphan Drug Status, IND Acceptance and Fast-Track Designation to Commence Phase 1/2 Clinical Trial of Proprietary... - May 10th, 2021
- Nathaniel's family have just three days to raise 150,000 for life-saving operation - Mirror Online - May 9th, 2021
- Global Stem Cell manufacturing Market with Covid 19 Analysis and Challenges On Upcoming Trends 2021-2028 The Courier - The Courier - May 9th, 2021
- Stem Cell Therapies Becoming a Common Treatment for Medical Diseases, Disorders and Traumas - Flagstaff Business News - May 9th, 2021
- Global Cord Blood Stem Cells Market by Type (Allogeneic Stem Cell, Autologous Stem Cell), By Application (Autoimmune Diseases, Immunodeficiencies,... - May 5th, 2021
- Our first child is due, and Im already in the clutches of the baby-industrial complex - The Guardian - May 5th, 2021
- Scientists identify small-molecule cocktail to improve stem cell use in research and disease treatments - National Institutes of Health - May 5th, 2021
- Hematopoietic Stem Cell Transplantation (HSCT) Market Trend, Technology Innovations and Growth Prediction 2020-2025 - AlgosOnline - May 5th, 2021
- Stem Cell Therapy Market: Research Report By Scope, Size, Share, Drivers, Restraints, Key Players and Forecasts KSU | The Sentinel Newspaper - KSU |... - May 5th, 2021
- Celebrate Mother's Day With the Gift of Life-Saving Cord Blood Donation - GlobeNewswire - May 2nd, 2021
- Key Trends of Autologous Stem Cell Based Therapies Market 2021 Business Opportunities, Market Dynamics, Growth Size and Forecasts to 2026 - Clark... - May 2nd, 2021
- The Cell Therapy Bioprocessing Market To Get Re-Energized By The Global The Courier - The Courier - April 24th, 2021
- Research with fetal tissue from elective abortion called 'deeply offensive' - TheCatholicSpirit.com : TheCatholicSpirit.com - The Catholic Spirit - April 24th, 2021
- U.S. Rep. Greene one of just two House lawmakers opposing stem cell, bone marrow transplant bill - Chattanooga Times Free Press - April 18th, 2021
- Blood Donors needed, as local blood supply faces 'Perfect Storm' - The B-Town (Burien) Blog - The B-Town Blog - April 16th, 2021
- Stem cell treatment needed to fight the good fight - Victoria Lookout - April 16th, 2021
- ThermoGenesis : The History of Cell and Gene Therapy - Marketscreener.com - April 14th, 2021
- Cord Blood Stem Cells Market 2021 Overview, Opportunities, In-Depth Analysis by 2027 : Becton, Dickinson and Company, DomaniCell, LLC, Future Health... - April 14th, 2021
- Umbilical Cord Blood (UCB) Stem Cell Market Booming CAGR +10% by 2028|| Osiris Therapeutics, Athersys, Opexa Therapeutics, NeoStem, Mesoblast Limited,... - April 14th, 2021
- Cord Blood Stem Cells Market 2021 Is Rapidly Increasing Worldwide in Near Future | Top Companies Analysis- Advanced Cell Technology, California Stem... - April 14th, 2021
- Cidara Therapeutics to Present at the 20th Annual Needham Virtual Healthcare Conference - April 8th, 2021
- Vincerx Pharma To Host Key Opinion Leader Webinar on Bioconjugation and CDK9 Inhibitors for the Treatment of Hematologic and Solid Tumors - April 8th, 2021