PresseBox
Press release BoxID: 550803 (VITA 34 AG Deutschland)
  • VITA 34 AG Deutschland
  • Deutscher Platz 5a
  • 04103 Leipzig
  • http://www.vita34.de
  • Contact person
  • Peggy Kropmanns
  • +49 (69) 905505-56

VITA 34 AG presents figures for third quarter 2012

Revenues of 3.5m Euro / EBITDA of 0.2m Euro / Total annual forecast adjusted: Result expected to be below previous year

(PresseBox) (Leipzig, ) VITA 34 AG (ISIN DE000A0BL849), the oldest private umbilical cord blood bank in the German-speaking countries, VITA 34 AG (ISIN DE000A0BL849), publishes the figures for the third quarter of 2012. Because of depressed storage figures in the core markets of Germany and Spain, revenues and result in the period under review were below the previous year's level. The revenues in the third quarter of 2012 amounted to EUR 3.5 million, in the wake of EUR 4.3 million in the previous year. 1,852 umbilical cord blood preparations were stored, following 2,363 preparations in the third quarter of 2011. The operating result (EBITDA) was EUR 0.2 million, compared to EUR 0.5 million in the same period last year. The net result amounted to EUR -0.1 million, following EUR 0.96 million. The operating figures cannot unrestrictedly be compared, as a positive special item of some EUR 1 million resulting from the activation of deferred taxes had incurred in the previous year.

In the first nine months of 2012, 5,570 umbilical cord blood preparations were stored, compared to 6,840 preparations in the same period last year. Revenues amounted to EUR 10.1 million, in the wake of EUR 12.1 million. The EBITDA amounted to EUR 0.2 million, whereas EUR 0.3 million was achieved last year. The net result amounted to EUR -0.5 million, following EUR 0.5 million and, adjusted for special items, EUR -0.5 million in the first nine months of 2011.

It becomes apparent that revenues as well as the result in the fiscal year 2012 will respectively be below the previous year's level. So far, VITA 34 had expected revenues to be lower than in 2011, but had also assumed the EBITDA to moderately increase. VITA 34 has already initiated measures to reduce costs and improve profitability and now expects the EBITDA to increase in 2013. The newly concluded cooperation agreements should have positive effects. Costs are to be further reduced in the future and the foreign business expanded. One focus will be placed on expanding the product range in the future. VITA 34 has already laid the foundation for this and, after the period under review had ended, developed the first GMP (Good Manufacturing Practice) procedure worldwide, which allows for the entire umbilical cord to be stored. The respective manufacturing license for preparations from umbilical cord tissue pursuant to the German Pharmaceuticals Act has already been applied for by VITA 34. We expect this new product to contribute significantly to the revenues as of 2013.

The complete quarterly report will be available for download at www.vita34group.de in the course of the day.