FamiCord AG closes financial year 2025 with overall solid year-end business while preparing for increasing macroeconomic and political headwinds

• Group revenues increase by 7.3 percent to EUR 88.2 million in 2025 underscoring the generally positive progression of operational streamlining of the business
• EBITDA increasing by 12.3 percent to EUR 10.6 million in 2025 resulting in an EBITDA margin increase to 12.0 percent
• Increasing macroeconomic and political headwinds in the first quarter indicate increased pressure and subdued performance in new customer business for the year 2026

Leipzig, 30 April 2026 – FamiCord AG, Europe's leading cell bank and the third largest worldwide, saw solid year-end business in the fourth quarter, closing the financial year 2025 overall operationally successful. However, from the second half of the fourth quarter, the Company started facing substantial macroeconomic and political headwinds, which also had a significant impact on the entire first quarter of the new fiscal year 2026.

In the fourth quarter of 2025, Group revenues slightly declined to EUR 21.8 million as an effect of the increased headwinds in December (Q4 2024: EUR 21.9 million). For the full-year 2025, revenues increased by 7.3 percent to around EUR 88.2 million (2024: EUR 82.2 million). In contrast, gross profit continued to develop very positively both in the quarter and the year in total. As a result of successful price adjustments and continued strict cost control, it more than doubled quarter-on-quarter and increased 22.0 percent to EUR 47.0 million year-on-year (2024: EUR 38.5 million).

The net amount of invoiced services (B2C) was slightly up, increasing by 1.5 percent to EUR 74.7 million for the year (2024: EUR 73.6 million). Within this, annually recurring payments one more grew disproportionally stronger by 7.0 percent to EUR 22.7 million (2024: EUR 21.2 million), highlighting the ongoing trend towards subscription-based revenues in the Group’s business model.

Quarterly EBITDA from continuing operations remained slightly below the prior-year level at EUR 1.9 million, with the EBITDA margin also remaining below the prior-year level at 8.6 percent. For the year 2025, EBITDA increased by 12.3 percent to EUR 10.6 million (2024: EUR 9.4 million), with the corresponding margin increasing to 12.0 percent (2024: 11.5 percent). The significant improvement in profitability in comparison to the prior year is primarily based on an improvement in sales performance, the optimization of contract structures, and strict cost discipline in administration, marketing, and sales as well as – to a minor extent – to effect from the acquisitions in the Czech Republic and Slovakia. Net income from continuing operations developed overall positively versus the prior year. But after turning positive in the third quarter, it significantly dropped back to EUR -5.0 million for the full year 2025, mostly due to substantial non-cash impairments on goodwill of EUR 5.0 million.

“Looking back at 2025, FamiCord has made good progress in its operational development. We have been on just the track over the vast majority of the year,” explains Jakub Baran, CEO of FamiCord AG. “Unfortunately, starting in the second half of the fourth quarter, we saw a substantial erosion of consumer sentiment, resulting in a sudden and profound reluctance in new client business. This caused a notable turnaround in our so far increasingly good performance.”

A growing reluctance was felt across almost every market where the company is active, which is pretty uncommon pattern. This trend was led by underperformance in Southern and Central Europe, while robust demand growth was limited to the GCC region and a few selected markets in Eastern Europe.

The key figures for business development are as follows:

A key element of the operational development in 2025 remains the change in the structure of the Company’s contracts. The trend of recurring revenues from subscription contracts growing significantly stronger than prepaid contracts and prolongations continued throughout the year. Unlike in 2024, when growth was driven by prepaid contracts, the share of subscriptions has now increased markedly. The higher share of subscription models further increases the stability and visibility of the Company’s long-term revenue base, but at the same time burdens the cash flow development in 2025. This shift in the contract mix towards subscription models resulted in a substantial decline in the operating cash flow of 58,5 percent to EUR 3.6 million for the full year (2024: EUR 8.7 million). The Group actively manages its cash flow profile and working capital to ensure sufficient liquidity and financial flexibility. As a result, cash & cash equivalents declined by 29.4 percent to EUR 11.9 million (31.12.2024: EUR 16.8 million), but was slightly up versus the previous quarter (30.09.2025: EUR 11.3 million).

The Group’s equity ratio is accordingly also burdened by this development. Equity declined by a net amount of EUR 7.5 million in 2025 to EUR 5.4 million (31.12.2024: EUR 12.9 million). Due to the increased balance sheet total of EUR 161.8 million (31.12.2024: EUR 152.7 million), the equity ratio decreased from 8.5 percent at the end of 2024 to 3.3 percent as of 31 December 2025. This is primarily attributable to the development of net income, the extension of the balance sheet resulting from the increase in external loans and the recognition of contract liabilities and potential repayment obligations, as well as goodwill impairments. The Management Board closely monitors the Group’s capital structure and is actively evaluating measures to strengthen the balance sheet and maintain financial stability.

As already communicated, FamiCord continues to focus stronger on its core business of family stem cell banking. Activities relating to CAR-T cell therapies are no longer prioritized at Group level and are thus excluded from Group EBITDA and reported separately as discontinued operations. This clear focus allows the Company to concentrate management attention and financial resources on areas that offer the best combination of growth potential and earnings quality.

The Management Board assesses the economic environment in Europe with increasing caution. In addition to the overall underlying trend of continuously low birth rates throughout the main markets in Europe, the business development in the first quarter of 2026 shows increased pressure and subdued performance in new customer business. The continuation of the war in Ukraine is noticeably reflected in increasing uncertainty among potential customers and correspondingly continues to act as a burdening factor on the Company's business performance. Furthermore, the political changes observed since the US elections have led to significant macroeconomic uncertainties and a tendency towards an increase in global political crises, which has further deteriorated overall consumer sentiment. For the 2026 financial year, the war in Iran has also emerged as a significant new uncertainty factor. It is currently not yet possible to estimate the extent to which the resulting rising energy prices in Europe will lead to further reluctance among consumers regarding their willingness to spend, which is likely to have a dampening effect on demand for the Group’s services. Against the background of this development as well as further external factors, it is to be expected that consumer reluctance will tend to further increase.

Under current planning assumptions, it expects revenues for the full-year 2026 in a range of EUR 80 to 90 million and an EBITDA in the range of EUR 9.0 to 11.0 million. This forecast also assumes largely stable exchange rates of the euro against the Polish zloty and the other currencies (HUF, RON, TRY, GBP). Any effects from potential acquisitions and associated transaction costs are not taken into account in this forecast.

The Management Board of FamiCord AG will be available to institutional investors, analysts and members of the press today at 16:00 CEST in a video conference to provide additional information on business development. To register for the video conference, please send an email to the Investor Relations department (ir@famicord.com).

The complete 2026 Annual Report of FamiCord AG will be available for download on the Company’s website in the course of the day at https://ir.famicord.com/financial-report/2025/. Further information on FamiCord and its affiliated subsidiaries can be found at www.famicord.com.

Contact: 
FamiCord AG
Ingo Middelmenne
Head of Investor Relations
Phone: +49 (0174) 9091190
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 either applicable directly as a medicine or constitute as 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 far over one million units of stored biological material at FamiCord. Furthermore, the Company is active in the area of Cell and Gene CDMO.