VITA 34: Positive Results in Q2 2009
VITA 34 International AG, the parent company of the umbilical cord blood bank in the German-speaking countries, VITA 34, has returned to profitability in the second quarter of 2009. The earnings before interest and taxes (EBIT) improved to more than EUR 16k following a loss of EUR 0.8 million in the corresponding quarter the year before. The period earnings turned around from EUR -0.8 million the year before to more than EUR 68k. Thus, the planned, just about two-year loss phase of the company was ended, during which high expenditures were incurred for sales and marketing, in order to further optimize the company's market position. In the first half of 2009 EBIT improved clearly to EUR -0.2 million, up from EUR -1.2 million the prior year.
Revenues increased in Q2 2009 to EUR 3.6 million, and were, therefore, slightly higher that the corresponding quarter the year before. In the first half of 2009 revenues were EUR 7.0 million, following EUR 7.2 million in the first half year of 2008. The equity ratio of some 61 percent was slightly higher than the 60 percent reported as of December 31, 2008.
Thanks to the developments of the first half-year, VITA 34 believes it is fully on track for the entire year 2009. The goal is to achieve at least a black zero with regard to EBIT.
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