Vytrus Biotech has broken its own record and turnover forecasts, reaching 1.7 million euros at the end of 2020
Vytrus Biotech, the company specialised in active ingredients derived from plant stem cells for the cosmetic industry, has broken its own record and turnover forecasts, reaching 1.7 million euros at the end of 2020.
The company thus reaches a milestone in its trajectory: the operational break even.
This milestone, which classifies Vytrus as a profitable company, represents a challenge in the whirlwind of the pandemic year and reflects the company's strong position in front of its shareholders and the market. Once the breakeven has been reached, the industrial biotechnology company will focus on continuing the international expansion of the business and scaling the profitability obtained in 2021.
According to Albert Jané, CEO and co-founder of Vytrus: "We are very happy with the great results obtained in 2020, especially since the exceptional situation has required a huge effort from each person in our team. Despite the difficult situation, we came out very strengthened as a team and we hope this achievement to boost our growth in the coming years".
The audited annual accounts of Vytrus for 2020 reflect an increase in its EBITDA (operating profit) of by 200%, up to 591 thousand euros. In the words of its Chief Financial Officer, Jordi Rovira: "We have managed to put the green colour in all the boxes of our financial statements, and we have done so in the most difficult year in our recent history. Furthermore, the support of our shareholders and our financial partners will allow us to continue investing to finance our expansion".
The results of the biotech company represent an increase of 40% in sales compared to 2019, where exports to the rest of the world take on a special role. In line with the evolution of the business over the last 4 years, revenues have once again grown at double digits within the trend of 30-40% increase.
The beginning of the pandemic meant an environment of uncertainty and a certain impact on the company, which quickly rallied and maintained its growth rate from month to month, thanks to the effort and dedication of a highly qualified and committed team.
A round year marked by its record in turnover and EBITDA, the Ecovadis Silver Medal recognition (positive evaluation of its good sustainability practices, together with the 25% of companies worldwide that have it), the increase in the workforce by 10 % and fabulous awards of its innovation with the double prize Best Ingredient Award 2020 in worldwide from In-cosmetics Global for its last two cosmetic launches for skin care (Kannabia Sense) and body odor (Deobiome Noni).