EQS-News: FamiCord AG continues growth course in 2024 after strong year-end business and stabilizes business development in home market Germany

FamiCord AG continues growth course in 2024 after strong year-end business and stabilizes business development in home market Germany

• Revenues increased by 6.6 percent to EUR 82.2 million in 2024
• EBITDA grows to EUR 8.8 million despite increased investments in marketing and sales
• EBITDA margin in double digits at 10.7 percent

Leipzig, 30 April 2025 – FamiCord AG, the leading cell bank in Europe and the third largest worldwide, successfully continued its growth trajectory in the 2024 financial year. Against the backdrop of the marketing and sales offensive initiated in the second half of the year, operational development in the core markets was further strengthened and, in particular, the decline in revenues in the challenging German home market was halted.

In 2024 as a whole, revenues increased by 6.6 percent year-on-year to EUR 82.2 million (2023: EUR 77.1 million). The net amount of invoiced services in the end customer business (B2C) increased by 11.7 percent to EUR 73.9 million (2023: EUR 66.2 million), while the share of annually recurring payments rose by 6.3 percent to EUR 21.7 million (2023: EUR 20.5 million). “We noticeably gained momentum in year-end business again and recorded revenue growth of 7.6 percent in the fourth quarter alone. This shows that we are on the right track with our marketing and sales offensive,” emphasizes Jakub Baran, CEO of FamiCord AG. “In the important home market of Germany, we have managed to stabilize our revenue development. Against the backdrop of declining birthrates, this means we continue to successfully expand our market penetration. Overall, this is a good sign, but it is certainly too early to speak of a sustainable trend.”

The second important core market, Poland, also proved robust in the course of business and was even able to increase sales. The GCC region once again performed very strongly and the Romanian and Turkish markets also showed a high level of dynamic demand. In contrast, some southern European markets such as Italy fell short of expectations.

At EUR 8.8 million, earnings before interest, taxes, depreciation and amortization (EBITDA) were 58.3 percent higher than in the previous year (2023: EUR 5.6 million). The disproportionately high increase is partly due to a special effect of EUR 1.4 million from agreements with the US licensor of CAR-T technology in the third quarter. However, the quality of earnings in the current course of business is demonstrated by the EBITDA development in the fourth quarter. Despite the aforementioned significant increase in investments in marketing and sales, EBITDA increased further and, at 23.5 percent, growth was almost on a par with revenue growth.

“Our group-wide integration projects following the merger of the current Vita 34 and PBKM subgroups have now been completed in many areas. With the recent renaming of the Company to FamiCord AG, we have once again concisely underlined this, strengthened our international brand presence and in a way symbolically finalized the process of integration,” Jakub Baran continues. “At the same time, we still have a long task list and will not rest in our efforts to make FamiCord a little more efficient every day and to continue our international expansion.”

The key figures for business development are as follows:

At EUR 8.7 million, operating cash flow was slightly below the previous year's level (2023: EUR 9.2 million). Cash and cash equivalents also remained at a solid level at EUR 16.8 million (31.12.2023: EUR 17.4 million).

FamiCord continued the roll-out of its placenta banking service in the fourth quarter. In addition to Switzerland, Poland, Romania and the GCC markets, the storage of placental tissue is now also possible for customers in Italy. “We are delighted that our new service has been well received by the market,” explains Tomasz Baran, Chief Medical Officer of FamiCord AG. “We should have completed the roll-out in all our markets by the end of 2026. Placenta banking will enable us to further improve our margins and also differentiate ourselves even more from the competition.”

In future, the Company will to focus more in particular on the areas of application for cryopreserved stem cells, the stem cell therapies. It intends to promote and strengthen the cooperation with universities and research institutions. For this reason, Management Board member Tomasz Baran has assumed the newly created position of Chief Medical Officer as of 30 April 2025.With his many years of experience, he is the ideal specialist for this complex area of responsibility and the Company expects this to provide numerous positive impulses for the industry. The position of Chief Commercial Officer, which Tomasz Baran previously held, will be filled in the coming months.

Despite the many macroeconomic challenges, the Management Board expects the economic environment in Europe to slowly improve in 2025, not least due to the increased willingness of many European governments to invest. At the same time, the growth initiatives already launched in 2024 should provide additional growth momentum in the current financial year. Accordingly, the Management Board expects revenues of between EUR 85 and 95 million with EBITDA of between EUR 8.7 and 10.3 million for the year 2025. The guidance is based on a constant exchange rate of the euro against the Polish zloty and other currencies (HUF, RON, TRY, GBP).

Further information on FamiCord and its affiliated subsidiaries can be found at www.famicord.com.

Contact: 
FamiCord AG
Ingo Middelmenne
Investor Relations
Phone: +49 (0341) 48792 40
Email: ingo.middelmenne@famicord.com

Company profile
FamiCord (formerly Vita 34) was founded in Leipzig in 1997 and today is by far the leading cell bank in Europe and the third largest worldwide. As the first private umbilical cord blood bank in Europe and a pioneer in cell banking, the company has since offered the collection logistics, processing and storage of stem cells from umbilical cord blood, umbilical cord tissue and other postnatal tissues as a full-service provider for cryopreservation. The donor's own cells are a valuable starting material for medical cell therapy and are kept alive in the vapor of liquid nitrogen. Customers from about 50 countries have already provided for the health of their families with about one million units of stored biological material at FamiCord. Furthermore, the Company is active in the areas of Cell & Gene therapies and CDMO.