Significant increase in earnings in the first half of 2010

29.07.2010 08:16

VITA 34 International AG

VITA 34 International AG (ISIN DE000A0BL849), the parent company of the oldest private umbilical cord blood bank in the German-speaking region VITA 34 AG, was able to significantly increase earnings before interest and taxes (EBIT) to EUR 0.2 million in the first half of 2010. In the corresponding period of the previous year, EBIT was still at -0.2 million euros.

At the same time, the storage of umbilical cord blood at 5,152 slightly exceeded the previous year's high level of 5,125. At EUR 7.6 million, sales revenue in the first half of 2010 was significantly higher than the previous year's figure of EUR 7.0 million. In addition, the increase in earnings results from cost-cutting measures and process optimization. The consolidated result improved to 0.2 million euros, after a 'black zero' in the first half of the previous year.

The equity rose to 18.9 million euros as of June 30, 2010, after 18.1 million euros as of June 30, 2009. Even after the majority acquisition of the previous Spanish partner Secuvita in May 2010, the liquid assets were at the same level at the end of June 2010 4.5 million euros at a very good level. The increase in earnings in the first half of 2010 underlines the company's plans: VITA 34 expects a significant improvement in profitability for the full year 2010.

After the Secuvita takeover - Secuvita has been consolidated at group level since mid-May 2010 - VITA 34 expects revised sales of around 17 to 18 million euros for the full year 2010. In the 2009 financial year, sales revenue was around 15 million euros. The complete half-yearly report is available for download at www.vita34group.de.

13.07.2010