Famicord AG Records Weaker Start To 2026 Financial Year As Expected Amid Continued Market Headwinds While Subscription Base Remains Robust

2026-05-29 02:00:54

(MENAFN- EQS Group)

FamiCord AG / Key word(s): Quarter Results
FamiCord AG records weaker start to 2026 financial year as expected amid continued market headwinds while subscription base remains robust
29.05.2026 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
FamiCord AG records weaker start to 2026 financial year as expected amid continued market headwinds while subscription base remains robust

Group revenues decline by 2.7 percent to EUR 21.5 million in Q1 2026
Recurring revenues from subscription models increase by 7.8 percent, partly offsetting lower new customer business and prepaid renewals
EBITDA down 28.8 percent to EUR 2.2 million on weaker business performance and higher cost base; Guidance for 2026 financial year confirmed

Leipzig, 29 May 2026 – FamiCord AG, Europe's leading cell bank and the third largest worldwide, recorded a weaker start to the 2026 financial year in an environment that remained characterized by subdued consumer sentiment, historically low birth rates and increasing cost pressure in several European markets. The slowdown in new customer business, which had already become visible in the second half of the fourth quarter of 2025, continued in the first quarter of 2026, as expected. At the same time, the Company continued to benefit from the increasing relevance of subscription-based contract models, which further strengthened the recurring component of the Group's revenue base. In the first quarter of 2026, Group revenues declined by 2.7 percent year-on-year to EUR 21.5 million (Q1 2025: EUR 22.1 million). The net amount of invoiced services (B2C) remained broadly stable at EUR 18.8 million (Q1 2025: EUR 19.0 million). In contrast, the net amount of annually recurring prepayments thereof increased by 7.8 percent to EUR 6.5 million (Q1 2025: EUR 6.0 million). This development reflects the continued challenging market environment, with historically low birth rates, elevated inflation, higher consumer prices and increased energy costs weighing on customers' willingness to commit to long-term family banking products. The contract mix therefore continued to shift towards recurring models. While this supports the stability and visibility of the Group's long-term revenue base, revenues from prepaid renewals and prolongations declined by 12.1 percent to EUR 1.7 million (Q1 2025: EUR 2.0 million). Together with weaker new customer business, this meant that positive price effects and the higher share of subscription-based contracts were not sufficient to fully offset the lower contribution from prepaid contracts. From a regional perspective, the weaker market development was visible across most of the Group's markets. This broad-based softness was broadly in line with the trend already described for the final quarter of 2025. Positive exceptions were Romania, Turkey and, in particular, the Middle East, where demand again developed clearly positively. However, the growth achieved in these markets was not sufficient to offset the overall muted demand across the Group. EBITDA amounted to EUR 2.2 million in the first quarter of 2026 (Q1 2025: EUR 3.1 million), corresponding to an EBITDA margin of 10.4 percent (Q1 2025: 14.2 percent). Despite strict cost discipline, the Company faced an unavoidably higher cost base. Specifically, cost of sales was impacted by higher personnel expenses. Combined with lower business volume and revenues, this led to the aforementioned decline in EBITDA. Marketing and selling expenses declined as the Company aligned its marketing activities with the weaker market environment. However, these savings were partially offset by higher administrative expenses, which also included necessary increases in personnel costs as well as higher expenses related to reporting compliance. Furthermore, the first quarter of 2025 represented an exceptionally strong comparison base relative to the subsequent quarters of the year. The key figures for business development are as follows:

IFRS, in EUR ́000	Q1	Q1
	2026	2025	∆
Group revenue	21,496	22,087	-2.7%
Gross profit	12,812	13,500	-5.1%
EBITDA (cont. operations)	2,228	3,132	-28.9%
EBITDA margin [%]	10.4%	14.2%	-3.8PP
EBIT	198	1,020	-80.6%
Net income (cont. operations)	- 219	- 660	66.8%
Earnings per share [in EUR]	- 0.01	- 0.04	75.0%
Operating cash flow	1,884	1,286	46.5%
Cash & cash equivalents (vs. 31 Dec. 2025)	13,840	11,878	16.5%
Prior-year figures adjusted as part of group-wide harmonization of reporting structures (see notes to the consolidated financial statements).

Operating cash flow developed substantially better than in the prior-year period and improved by 46.5 percent to EUR 1.9 million (Q1 2025: EUR 1.3 million). While the overall cash flow development also reflects the weaker operating development in the first quarter and the negative result for the period, operating cash flow was supported by working capital movements. The increase in cash and cash equivalents during the first quarter was mainly supported by positive cash flow from financing activities, including a higher utilization of credit lines and the corresponding increase in interest-bearing loans. As a result, cash and cash equivalents increased by 16.5 percent to EUR 13.8 million as of 31 March 2026 (31 December 2025: EUR 11.9 million).

The equity position also developed weaker, declining by 13.5 percent to EUR 4.7 million (31.12.2025: EUR 5.4 million). Equity declined as a result of the operating result, while total assets increased. As a consequence, the equity ratio decreased to 2.9 percent as of 31 March 2026 (31.12.2025: 3.3 percent). The Management Board continues to closely monitor the Group's capital structure, liquidity and financial headroom.

As already communicated, FamiCord continues to focus on its core business of family stem cell banking. The persistently difficult market environment requires strict cost discipline and a careful allocation of management attention and financial resources. At the same time, the Company is evaluating opportunities to enhance its medium-term growth prospects.

"We already pointed out in our last release that new customer business had weakened noticeably since the second half of the fourth quarter of 2025. As expected, the first quarter of 2026 has not yet shown a reversal of this trend," explains Jakub Baran, CEO of FamiCord AG. "Against this background, we are continuing to optimize our cost base while preserving the strengths of our business model. The growing subscription base supports the stability of our revenues, and we are also evaluating opportunities in adjacent areas that can help us further strengthen the Company over time. We are also seeing some improvement in our CDMO activities and expect to sign two important agreements with new clients over the next two to three months."

The Management Board continues to assess the economic environment in Europe with caution. In addition to historically low birth rates in the Group's main markets, consumer sentiment remains burdened by elevated inflation, higher energy costs and broader macroeconomic and political uncertainty. As this development was anticipated in the Outlook Report of the 2025 Annual Report, the Management Board confirms its guidance for the 2026 financial year, expecting revenues in a range of EUR 80 million to EUR 90 million and EBITDA in a range of EUR 9.0 million to EUR 11.0 million.

The Management Board and Investor Relations department of FamiCord AG will be available for one-on-one calls to institutional investors, analysts and members of the press to provide further details on business development. Further information on FamiCord and its affiliated subsidiaries can be found at

Contact:
FamiCord AG
Ingo Middelmenne
Head of Investor Relations
Phone: +49 (0174) 9091190
Email:...

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.

29.05.2026 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group.
The issuer is solely responsible for the content of this announcement.
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Language:	English
Company:	FamiCord AG
	Perlickstr. 5
	04103 Leipzig
	Germany
Phone:	+49(0341)48792-40
Fax:	+49(0341)48792-39
E-mail:	...
Internet:
ISIN:	DE000A0BL849
WKN:	A0BL84
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate BSX
EQS News ID:	2334616


End of News	EQS News Service

2334616 29.05.2026 CET/CEST

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