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PRESS RELEASE: Vita 34 manages crisis environment well with a strong third quarter

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DGAP-News: Vita 34 AG / Key word(s): 9 Month figures
Vita 34 manages crisis environment well with a strong third quarter

2020-11-12 / 07:30
The issuer is solely responsible for the content of this announcement.

*Vita 34 manages crisis environment well with a strong third quarter*

? *Revenues after nine months of EUR 15.0 million almost at previous
year's level*

? *EBITDA margin of 29.1 percent despite increased marketing expenses,
close to the target of 30 percent*

? *Increased demand for new PUR price model leads to steady increase in
recurring sales*

*Leipzig, 12 November 2020* - Vita 34 AG (ISIN: DE000A0BL849; WKN: A0BL84),
one of the largest cell banks in Europe, continues to perform very well in
the economic environment shaped by the COVID 19 pandemic. In particular,
strong growth in new business in the core market Germany led to a return to
the growth path and a significant improvement in sales development compared
to the second quarter. Even year-on-year, the slightly weaker start to 2020
was almost completely made up for by the end of the third quarter. For the
year-end business there are also signs of a consistently positive business
performance without any major pandemic effects.

At EUR 15.0 million, revenues for the first nine months were only 0.6
percent down on the previous year (9M 2019: EUR 15.1 million). Demand for
the new PUR price model increased significantly, as the company has also
been offering the storage of umbilical cord tissue via this contractual
model since April 2020. Since then, the proportion of contracts concluded
with tissue storage has increased significantly, resulting in an increase in
sales per contract. The product, which is designed as an annual payer model,
thus has an additional positive effect on the cash flow from storage fees.
Earnings before interest, taxes, depreciation and amortization (EBITDA) were
only 3.8 percent lower at EUR 4.4 million (9M 2019: EUR 4.5 million),
although the company continued to invest heavily in marketing measures.
First and foremost, the company intensified its efforts to address
gynecologists and midwives as two of its most important target groups and
further pushed the online marketing of its products. Accordingly, the EBITDA
margin remained at a high level of 29.1, close to the target margin of 30
percent.

"We can be very satisfied with the course of the third quarter, as the
increased demand for our PUR product is leading above all to rising
recurring revenues," explains Dr. Wolfgang Knirsch, CEO of Vita 34 AG.
"Although this means that cash flows from our new business are also shifting
into the future, it also promotes our future business development. This is a
highly desirable development for us, even if it is reflected in a declining
operating cash flow in the short term."

The key figures on business development are as follows:

*in EUR '000* *Q3 2020* *Q3 2019* *9M 2020* *9M 2019* *? H1*
Revenues 5,424 5,351 15,024 15,119 _-0.6%_
Gross profit 3,391 3,472 9,139 9,487 _-3.7%_
EBITDA 1,761 1,753 4,368 4,542 _-3.8%_
_EBITDA margin _32.5%_ _32.8%_ _29.1%_ _30.0%_ _-3.2%_
[%]_
EBIT 1,140 1,137 2,528 2,697 _-6.3%_
Net earnings 750 173 1,860 1,220 _52.4%_
Earnings per 0.18 0.04 0.45 0.30 _50.0%_
share
Operating cash
flow 3,125 4,627 _-32.4%_
Cash & cash 10,519 9,102 _15.6%_
equivalents
(vs. year-end
2019)

The Management Board continues to assess the impact of the COVID 19 pandemic
on the course of business as low overall. Although a regional analysis still
shows that the southern European countries, which are more severely affected
by the pandemic, are lagging behind expectations in terms of the number of
storages. In the core markets of the DACH region, however, business
development continues to be solid and at best with very little impact from
the pandemic. Nevertheless, the company has taken precautions for a possible
worsening of the situation in the course of a second wave of the pandemic
and is maintaining a high level of inventories of production-related
precursors. Despite the resulting further increase in working capital
requirements, cash and cash equivalents increased further and amounted to
EUR 10.5 million at the end of September (31.12.2019: EUR 9.1 million).

The development of new future and development projects, such as the storage
of immune cells from peripheral blood of adults and the storage of fat cells
for use in aesthetic medicine ("AdipoVita"), is progressing according to
plan despite pandemic-related restrictions. For AdipoVita, the company
recently received the manufacturing license for the Leipzig site and is now
establishing distribution partnerships.

"Against the background of the course of business to date and the current
order situation for the fourth quarter, we continue to feel very comfortable
with our guidance for the year as a whole and are reiterating it
accordingly," commented Falk Neukirch, CFO of Vita 34. "Given the long lead
times between the conclusion of contracts and the realization of sales, we
also do not expect a second wave of the pandemic to have any negative impact
here."

For the full year 2020, the Managhement Board therefore continues to expect
revenues of between EUR 19.0 and 21.0 million and EBITDA of between EUR 4.8
and 5.8 million.

*Contact:*
Ingo Middelmenne
Investor Relations
Vita 34 AG
Phone: +49 (0341) 48792 - 0
Mobile: +49 (0174) 9091190
Email: ingo.middelmenne@vita34.de

*Company profile*
Vita 34 was founded in Leipzig in 1997 and is today one of the leading cell
banks in Europe. As the first private umbilical cord blood bank in Europe
and a pioneer in cell banking, the company has been offering collection
logistics, preparation and storage of stem cells from umbilical cord blood
and umbilical cord tissue as a full-service provider for cryopreservation
ever since. 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 the body's own fat in the future. The body's own 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 for
treatment if necessary. More than 237,000 customers from more than 20
countries have already provided for the health of their families with a cell
depot at Vita 34.

2020-11-12 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 www.dgap.de
Language: English
Company: Vita 34 AG
Deutscher Platz 5a
04103 Leipzig
Germany
Phone: +49(0341)48792-40
Fax: +49(0341)48792-39
E-mail: ir@vita34.de
Internet: www.vita34.de
ISIN: DE000A0BL849
WKN: A0BL84
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
EQS News ID: 1147187

End of News DGAP News Service

1147187 2020-11-12



(END) Dow Jones Newswires

November 12, 2020 01:30 ET ( 06:30 GMT)
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