Vita 34 Achieves Better Than Expected Financial Results for 2023

On April 19, 2024, Vita 34 AG announced that its fiscal year 2023 earnings significantly surpassed expectations. The Leipzig-based company reported earnings before interest, taxes, depreciation, and amortization (EBITDA) of EUR 5.6 million, exceeding the initial forecast of EUR 4.0 million. This positive variance mainly resulted from favorable accounting adjustments under IFRS 15 and a more optimistic reevaluation of risks associated with hyperinflation in Turkey.

Revenues for 2023 stood at EUR 77.1 million, marking an increase of 11.8% from 2022. Looking forward, Vita 34 expects a continued upward trend in both revenue and earnings for 2024, projecting revenues between EUR 81 and 88 million and EBITDA ranging from EUR 6.5 to 8.0 million. The complete annual report for 2023 will be available on April 30, 2024.