Vytrus Biotech Increases Its Sales by 32% in the First Quarter of 2024

Vytrus Biotech, a company specialized in active ingredients derived from plant stem cells for the cosmetic industry, increased its sales by 32% in the first quarter of 2024 compared to the same period in 2023, thanks to the recovery of the United States and European markets. The company reports this Thursday in a statement.

The skin care and hair care applications “were mainly responsible for the growth in all markets” of the company, which increased its gross operating result (Ebitda) by 92% during the first quarter of the year.

Likewise, the Latin American area increased its sales by 30% “driven largely by the entry into Brazil of one of the top client companies in the sector”, while the Asia-Pacific area remained stable with a growth of 1%.

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Vytrus Biotech expects to reach twelve million euros by the end of the fiscal year 2027

Vytrus Biotech has recently published its Strategic Plan for the period 2024-2027. As a result of the strategy that will set the course of the company in the next four years, the biotechnology company plans to multiply its sales by three, “reaching twelve million euros,” and its EBITDA by four to “five million euros” at closing. of fiscal year 2027.

The strategic plan for the coming years is based on two main pillars. On the one hand, Vytrus “will transform into a multi-technology company in the cosmetic active ingredients sector.” In order to accelerate growth and reach more customers, the company “will incorporate new complementary technologies to plant stem cells with application in the dermocosmetic sector,” the letter states.

The Vytrus Biotech team has been developing some of these technologies internally for years while simultaneously holding conversations with third parties to reach licensing and investment agreements that will allow the company to incorporate products based on innovative technologies already present in the cosmetic market into its portfolio.

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First published in PlantaDoce. A third-party contributor translated and adapted the articles from the originals. In case of discrepancy, the originals will prevail.

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