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

Vytrus Biotech’s first-quarter 2024 sales surged by 32% compared to 2023, driven by skin and hair care products. The US and European markets led the growth, while Latin America saw a 30% increase. Asia-Pacific remained stable. With a Strategic Plan for 2024-2027, Vytrus aims to triple sales to €12 million and quadruple EBITDA to €5 million by 2027, focusing on multi-technology expansion.



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
The Vytrus Biotech team has been developing some of these technologies internally. Source

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.


(Featured image by Harper Sunday via Unsplash)

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Eva Wesley is an experienced journalist, market trader, and financial executive. Driven by excellence and a passion to connect with people, she takes pride in writing think pieces that help people decide what to do with their investments. A blockchain enthusiast, she also engages in cryptocurrency trading. Her latest travels have also opened her eyes to other exciting markets, such as aerospace, cannabis, healthcare, and telcos.