Vita 34 Sees Financial Growth and Improvement in 2023

Vita 34 AG reported noticeable financial growth in 2023, achieving an 11.8% increase in group revenue, which amounted to EUR 77.1 million despite a challenging economic climate. The company attributed this revenue growth to positive outcomes primarily in Hungary, Switzerland, Romania, and Turkey, with a stabilization in Poland. While core markets like Germany and the Middle East exhibited weakness, there appears to be a recovery on the horizon.

The company also reported a significant improvement in EBITDA, recording EUR 5.6 million in 2023 compared to a negative EUR 3.6 million in the previous year. This was despite facing extraordinary one-off costs totaling EUR 1.5 million related to management restructuring and other strategic moves. Moreover, operating cash flow saw a dramatic increase, nearly tripling to EUR 9.2 million, supported by effective liquidity management and restructuring of credit facilities.

Vita 34's CEO, Jakub Baran, indicated a strategic focus on organic growth and investment in Cell and Gene therapies moving forward. Despite current challenges, the Group remains optimistic about the financial year 2024, with revenue projections between EUR 81 million and EUR 88 million and EBITDA expectations ranging from EUR 6.5 million to EUR 8.0 million.