Vita 34 AG — Interim / Quarterly Report 2016

Aug 23, 2016

Interim Report January to June 2016

top innovator 2016

save · fi rst class · innovative

Overview of Key Financial Figures

		04/01/- 06/30/2016	04/01/- 06/30/2015	01/01/- 06/30/2016	01/01/- 06/30/2015
Profit/Loss
Total operating revenue	EUR k	4,667	3,664	8,651	7,091
Revenues	EUR k	4,210	3,349	8,021	6,418
Gross profit	EUR k	2,165	1,954	4,040	3,699
EBITDA	EUR k	541	505	858	1,117
EBITDA margin on revenues	%	12.9	15.1	10.7	17.4
EBIT	EUR k	254	239	293	578
Period result	EUR k	148	133	148	362
Earnings per share	EUR	–0.03	0.04	–0.02	0.13
Balance Sheet/Cash flow				06/30/2016	06/30/2015
Total assets	EUR k	-	-	42,873	38,269
Equity	EUR k	-	-	23,612	22,488
Equity ratio	%	-	-	55.1	58.8
Liquid funds	EUR k	-	-	1,444	2,093
Capital expenditures	EUR k	–157	–3,357	–374	–3,892
Depreciation	EUR k	287	266	565	539
Cash flow from operating activities	EUR k	41	159	–63	1,492
Employees
Employees (as of 30 June)*	Number	-	-	118	105

*Including information for subsidiary companies using the equity method

Content

To Our Shareholders	2
Letter from the Management Board	2
Vita 34 AG Stock	4
Group Interim Report	6
Group Fundamentals	8
Economic Report	11
Subsequent Report	15
Opportunity and Risk Report	15
Prognosis Report	16
Condensed Consolidated Interim Financial Statements	18
Condensed Consolidated Income Statement	20
Condensed Consolidated Statement of Comprehensive Income	21
Condensed Consolidated Statement of Financial Position	22
Condensed Consolidated Statement of Changes in Group Equity	24
Condensed Consolidated Statement of Cash Flows	26
Notes on the Condensed Consolidated Interim Financial Statements	27
Declaration of the Legal Representatives	36

Contact Information

We have advanced the development of Vita 34 with motivation and passion in the fi rst half-year of 2016. Here, Vita 34 reached an important milestone: The storages of the entire Group rose to more than 150,000 stem cell deposits by the end of the fi rst half-year. Thus, the company is indisputably the largest stem cell bank in the German-speaking countries and number two in Europe.

Vita 34 achieved other successes in the implementation of its international growth strategy. Thanks to new cooperation agreements with companies in Dubai and Lebanon, Vita 34 is now also present in the Middle East. Moreover, as of Q2 2016 we have been active in Norway, a high birth rate country with great growth and income potential, via our subsidiary StemCare ApS. Thus the Vita 34 family continues to grow. Through these cooperative ventures we are represented in 28 countries.

The Vita 34 brand stands for quality and innovation. In the complex process of stem cell storage, the observance of the highest standards of quality and safety is our top priority. This principle is an important foundation of our success. This is why expecting parents bestow their trust on us as a competent trailblazer. In addition, cooperating partners around the world appreciate our expertise and reliability. Moreover, Vita 34 is characterized by a culture of innovation that has been continuously cultivated and sustainably grown for years. Since the founding of the company in 1997, Vita 34 can look back on innovations in the areas of manufacturing, products, as well as research and development. In June, Vita 34 was awarded the TOP 100 innovation prize for these successes and unique innovative force. Our company numbers among the most innovative medium-sized companies in Germany. The prize is the result of continuous work and proves that Vita 34 is not only the quality leader, but also the innovation leader amongst private umbilical cord blood banks. We see this as a confi rmation and are staying the course.

Vita 34 grew signifi cantly in the past year via acquisitions. The integration of the new subsidiaries suppressed the Group result in the fi rst half-year, however, this has been mostly completed in the meantime. At the end of Q2 an important milestone in this process, the transfer of the laboratory from Denmark to Leipzig and the start of storage in Leipzig, was completed ahead of schedule.

With an increased total operating revenue of EUR 8.7 million (fi rst half-year 2015: EUR 7.1 million) revenues increased signifi cantly from some EUR 6.4 million to EUR 8.0 million in the reporting period, which is equivalent to an increase of 25 percent. The integration of the companies acquired in 2015 has been mainly completed, and as a result the transfer of the Danish laboratory took place ahead of schedule. The result in the fi rst half-year was, as planned, depressed by integration expenses. Earnings before interest, taxes, depreciation and amortization (EBITDA) in the reporting period were EUR 0.9 million lower than the prior year's level (fi rst half-year 2015: EUR 1.1 million). Fortunately, the EBITDA margin of 10.7 percent was in the upper range of expectations.

Given the large potential worldwide, the prospects for Vita 34 continue to be positive. The company expects a further improvement in profi ts in Q3, since the integration of the subsidiaries has progressed more quickly than expected. Thanks to the positive development, the Management Board expects from today's perspective an EBITDA margin for the full year at the higher end of the range (8-12 percent).

In the second half of the year Vita 34 will be concentrating on measures that promote awareness and acceptance within the target group of expecting parents. A new, additional product option will contribute to this, which Vita 34 will most likely offer exclusively in Germany and Austria in Q3. With these plans, the course has been set for sustainable corporate development. We invite you to accompany us on this path and thank you for your trust.

Leipzig, August 2016

Dr. André Gerth CEO

Dr. Wolfgang Knirsch CMO

Falk Neukirch CFO

Vita 34 AG Stock

Stock Price Development (January 1, 2016 – June 30, 2016)

Stock Price Development

Information and Key Figures on the Shares

The Vita 34 AG stock is listed in the regulated market (segment: Prime Standard) of the Frankfurt Stock Exchange. On the fi rst trading day of the current fi scal year, the stock started with a value of EUR 4.80, and closed at EUR 4.65. In a generally nervous market environment, the stock price declined and reached its preliminary low of EUR 4.03 on February 11th. Subsequently, the stock started to recover. The stock reached a high in the reporting period of EUR 5.17 on March 29th. From the end of March until the middle of May, the stock price swung laterally in a range between EUR 4.50 and 5.00. A downward trend set in starting in the middle of May. Once the result of the Brexit referendum in Great Britain became known on June 24th, the stock price fell to EUR 3.66. The stock price had recovered by the June 30th, the end of the half-year, and climbed to EUR 4.22. As compared with the closing price on January 4th of EUR 4.65, the stock endured a loss of approx. -9.3 percent as of June 30th. With this, Vita 34 was able to beat the DAXsubsector Biotechnology reference index. This index lost some -14.2 percent in the same time period.

Ticker symbol / Reuters symbol	V3V / V3VGn.DE
Securities number / ISIN	A0BL84 / DE000A0BL849
Initial quotation	March 27, 2007
Market segment	Prime Standard
Indices	CDAX, Prime All Share, Technology All Share, DAX-subsector Biotechnology, DAXsubsector Pharma & Healthcare
Opening / Closing Price	EUR 4.80 / EUR 4.22
High / Low	EUR 5.17 / EUR 3.66
Number of shares	3,026,500
Free-fl oat as of June 30, 2016	71.1 percent
Market capitalization as of June 30, 2016	EUR 12.8 million
Designated Sponsor	ODDO SEYDLER Bank AG

Shareholder Structure

Vita 34 AG had a high level of free fl oat of 71.1 percent as of the closing date June 30, 2016, and has a broad base of shareholders that was expanded in the reporting period. As of June 30, 2016, CEO Dr. André Gerth held 12.7 percent of the shares. The overall portion held by Vita 34 Management and Supervisory Board was 16.1 percent. Human Stem Cells Institute PJSC (HSCI), Moscow, reduced its share from 11.2 to 9.5 percent. As of June 30, 2016, Axxion S.A. held 3.3 percent of the shares.

Investor Relations

The investor relations work at Vita 34 aims to provide an active and transparent dialog with shareholders and stakeholders. In this context, the Management Board regularly participates in capital market conferences, and will be represented at the Equity Forum in Frankfurt in November 2016.

During the reporting period ODDO SEYDLER Bank AG continued to act as Designated Sponsor. The analysts continued to recommend the stock as a buy in their last update on May 31, 2016 with a target price of EUR 7.50.

Addition information on the Vita 34 stock is available for download on the Internet at www.vita34group.de in the "Stock" section.

Financial Calendar 2016

August 25, 2016	Annual General Meeting 2016
November 21-23, 2016	German Equity Forum 2016
November 24, 2016	Publication of the Quarterly Report for Q3 2016

Group Interim Report

Group Fundamentals	8
Business Model	8
Economic Report	11
Overall Economic Environment and
Industry-Related Peripheral Conditions	11
Development of Business	12
Revenue and Profit Situation	13
Financial Situation	14
Assets	14
Subsequent Report	15
Opportunity and Risk Report	15
Prognosis Report	16

Group interim Report

Group Fundamentals

Business Model

The core business of Vita 34 is the collection, preparation and storage of stem cells from umbilical cord blood and tissue. With 150,000 stem cell deposits, this specialist for stem cells from umbilical cord blood and tissue, founded in 1997, is by far the largest and market-leading private stem cell bank in the German-speaking countries, and it is the second largest private umbilical cord blood bank in Europe today. The Group is active in 28 countries in Europe and around the world with some 118 employees.

The youngest stem cells that can be collected legally and free of pain are those that circulate in the umbilical cord between the placenta and the baby at the time of birth. Therefore, birth provides the opportunity to secure the best stem cells for life; young and vital stem cells (from the umbilical cord). To this end, Vita 34 works together with some 2,000 birthing facilities and 15,000 OB/GYNs in Germany and other European countries.

Vita 34 regularly trains OB/GYNs and midwives in the collection of umbilical cord blood and tissue, in order to ensure the greatest possible process assurance. After collection, these stem cells are transported to the Vita 34 stem cell laboratory in Leipzig via courier in a special transport packaging. There they are subsequently preserved permanently (cryo-preservation) at minus 197 degrees Celsius, and stored. As a consequence, they are available over many decades for therapeutic use.

Stem cells from umbilical cord blood and tissue are vital allrounders, and they offer an enormous medical potential. They can divide and develop in an unlimited fashion. Various types of tissues like skin, muscles and bone develop from them. This ability makes them very interesting for therapeutic use and as a health provision.

Even today stem cells are used, among other things, in the context of cancer treatment, in therapies for autoimmune diseases, metabolic disorders and in the case of brain damage. In addition, the number of diseases that will be treatable with the help of stem cells in the field of regenerative medicine will continue to increase. Research is being conducted worldwide, such that sports injuries, the consequences of heart attacks and strokes, or wearing of bone and cartilage will be able to be treated with the body's own stem cells in the future. The storage of stem cells from umbilical cord blood, therefore, allows people to participate in the developments and advances of stem cell medicine.

Whether autoimmune diseases, sports injuries or degenerative cardiovascular diseases, as a stem cell bank Vita 34 offers a provisional product that can be used within the scope of a stem cell therapy. With the storage of stem cells from the umbilical cord, parents invest in medical progress and secure for their child a unique chance at his/ her birth.

Vita 34 is an active participant in applied stem cell research. To this end, Vita 34 works with renowned research institutes and universities throughout Germany, and makes a significant research contribution toward medical progress, especially in regenerative medicine.

The name Vita 34 stands for maintaining the highest standards of quality. This is reflected in the many permits and licenses we hold. For example, in addition to a permit for the autologous dispensing umbilical cord blood, Vita 34 is the only private stem cell bank to possess:

y Permits from the German Federal Institute for Vaccines and Biomedical Pharmaceuticals (Paul-Ehrlich Institute) for dispensing umbilical cord blood preparations for the therapeutic use in hematological/oncological diseases for siblings, and to help other people in the case of disease, in the form of a donation

• y A permit for the collection, processing, cryo-preservation and storage of umbilical cord tissue in Germany, Austria and Switzerland (DACH region), as well as
• y The capability and the required permits to provide customers with both the storage of whole blood as well as separated blood.

Vita 34 has broadened its footprint in Europe via acquisitions:

Corporate Structure

The following companies are included and fully consolidated in the half-year report of Vita 34 AG as of June 30, 2016:

• y Vita 34 Gesellschaft für Zelltransplantate m.b.H., Austria,
• y Novel Pharma S.L., Spain,
• y Secuvita S.L., Spain,
• y StemCare ApS, Denmark,
• y stellacure GmbH, Germany.

VITA 34 Slovakia, s.r.o. (Slovakia) and AS "Imunolita" have not been consolidated for reasons of substantiality. The participation in Bio Save d.o.o. (Serbia) is recognized at equity as of June 30, 2016.

Vita 34 on the International Market

Vita 34 has expanded its strategy of further internationalization ambitiously and successfully in the past years. In the second half-year, the company entered into three new cooperation agreements with companies in Turkey, Dubai, and Lebanon (see also Business Performance). Vita 34 is now represented worldwide in 28 countries.

International Presence – The Vita 34 Family

Objectives and Strategy

Vita 34 pursues a broad growth strategy based on three building blocks:

• y The expansion of operative business by strengthening sales effi ciency
• y Anorganic growth via selective, opportunistic acquisitions in important European markets, as well as
• y Active portfolio and life cycle management

Strengthening of Sales Effi ciency:

Parents are not yet comprehensively, if at all, informed regarding the opportunities posed by a stem cell deposit. Reaching these potential customers, therefore, is the focus. In addition, Vita 34 is continuously analyzing the opportunities for expanding sales in existing countries. The signifi cance of the Marketing & Sales department has been underscored by the appointment of Dr. Wolfgang Knirsch to be Chief Marketing Offi cer.

Anorganic Growth:

The Management Board of Vita 34 AG is continuously analyzing opportunities for growing further via acquisitions. For example, Vita 34 conducted four acquisitions in 2015, and entered into three cooperation agreements in the fi rst half of 2016. In all, the company is active in 28 countries in this manner. Thanks to the acquisitions, Vita 34 will tap additional synergies, in particular in the areas of marketing and sales, as well as production and administration.

Product Developments:

Vita 34 is continuously expanding its product range in the field of stem cell deposits with active portfolio and life-cycle-management. In Q3 the company is planning a market launch. Around the world, researchers are working on using stem cells as pharmaceuticals across a broad front for a variety of diseases. Within the scope of numerous cooperative efforts with public institutions and universities, Vita 34 is making an active contribution to medical progress by providing test preparations and expertise. In all, the company invests some 10 percent of revenues annually in research projects.

Control System and Performance Indicators

The Management Board has identified the following key figures for internal group control of the company: Total operating revenue, earnings before interest, taxes, depreciation and amortization (EBITDA), EBITDA margin, and equity ratio. The development of the control variables as compared with defined targets is reported on an annual basis. More detailed information on this can be found in the "Control System and Performance Indicators" chapter of the Vita 34 AG annual report dated March 30, 2016. This can be found on the Vita 34 website (www.vita34group. de).

Economic Report

Overall Economic Environment and Industry-Related Peripheral Conditions

Vita 34 has continually expanded its activities in international markets, especially the European market, over the last few years via subsidiaries, as well as sales partners and cooperative venture partners. The economic environment in Europe and especially in the most important target markets, therefore, has an influence on business activities.

In Europe, the economic recovery continued in the first halfyear of 2016. The global peripheral conditions, however, are less optimistic for the future. The global economy is only growing at a moderate pace at the moment. In the coming year, its growth will be only slightly higher than last year's. In the United States, the rate of expansion in Q1 2016 slowed, and the economy in Japan has stalled. Amongst the emerging countries, China does, however, continue to have high growth. Yet it is slowing, as well. In the Eurozone the European Commission expected growth of 1.6 percent for the year 2016, and 1.8 percent for the year 2017 in its spring forecast. Several research institutes are of the opinion that with the pending exit of Great Britain from the EU, the growth in the Eurozone will be dampened additionally and 2017 GDP growth will only be 1.2 percent. In 2015 the Gross Domestic Product (GDP) was 1.7 percent.

In Germany the economic situation continues to develop in a solid manner: According to estimates from the European Commission, real economic growth in 2015 was 1.7 percent. Supported by high private and state consumption expenditures, the economic activity in Q1 2016 has probably increased even more strongly. However, the Commission expects a moderate slowdown for Q2 2016.

The decision to store umbilical cord blood is, among other things, dependent on purchasing power, as well as the income of the populace. In the first half-year 2016 dropping oil prices had a positive effect on the real disposable income of the households. In the second half of the year, the energy prices will increase incrementally and domestic prices will increase as a result of the stronger domestic demand. Consumer price inflation in the Eurozone is estimated to be 0.2 percent this year (EU: 0.3 percent), and 1.4 percent (EU: 1.5 percent) in 2017.

Development of Business

Vita 34 made progress in internationalization again in the first half-year of 2016. Vita 34 signed cooperation agreements with companies in Dubai, Lebanon, and Turkey, and has already received the first storages from these countries. The new partners have already been active in the stem cell industry for many years and, therefore, bring their many years of experience and expertise into the Vita 34 Group. Within the context of the partnership, Vita 34 is assuming the tasks of processing, testing, and cryo-preservation of umbilical cord blood and tissue. The partner companies are responsible for marketing and sales, training the clinics, collection, as well as transport of the preparations to Leipzig. With these cooperative agreements, Vita 34 is now also present in the Middle East and, thus, present in 28 countries.

Vita 34 has also been active in Norway since Q2 via its subsidiary StemCare ApS. Last year, Vita 34 acquired the market leader in the Scandinavian countries in this established Danish umbilical cord blood bank, and further expanded its presence in Europe. From a strategic perspective, Vita 34 has opened up the high birth rate countries of Scandinavia with this acquisition and, thus, secured future income and growth potential for itself. The integration of StemCare suppressed the Group result in the first half-year, however, this has been mostly completed in the meantime. At the end of Q2 an important milestone in this process, the transfer of the laboratory from Denmark to Leipzig and the start of storage in Leipzig, was completed ahead of schedule.

Thus, Vita 34 continued its Buy and Build strategy in a targeted manner in the first half-year of 2016. Correspondingly, the company has solidified its position in the European market. The consistent implementation of the Buy and Build strategy is, indeed, associated with higher expenditures in the short-term, however, in the long-term it will lead to cost savings and an increase in profitability.

Vita 34 achieved special success in June 2016: The company received the TOP 100 innovation prize, and thereby numbers among the most innovative medium-sized companies in Germany. The TOP 100 seal for special innovative force and above-average success has been awarded to mediumsized companies since 1993. More than 4,000 companies applied for this year's competition. They were evaluated in the following categories: "Innovation-Promoting Management," "Innovation Climate," "Innovative Processes and Organization," "Innovation Marketing," and "Innovation Success."

In two categories Vita 34 achieved above average results as compared with the other participants. The company received a rating of "A+" in the "Innovation-Promoting Top Management," as well as the "Innovative Processes and Organization" categories. The average rating of all participants was "A-" or "A."

Three subcategories were evaluated in the "Innovation-Promoting Top Management" category, "Commitment," "Innovation Strategy," as well as "Resource Use." In all three areas, Vita 34 attained better than average scores.

Three subcategories "Monitoring," "Innovation Management," and "Project and Portfolio Management" were analyzed under the "Innovative Processes and Organization" category. The jury evaluated how dedicated the company is to searching for new business ideas, and how structured the innovation process is. Here too, Vita 34 scored above average.

The innovation prize for Vita 34 shows: The company has a strong culture of innovation. Since its founding in 1997, Vita 34 has introduced numerous innovations. This is why Vita 34 can demonstrate a broad range of products and services, the expansion of which is very important to Vita 34. A large number of approvals and permits are an expression of the innovative force of Vita 34. The processes and materials used for the collection, preparation, and storage are continuously improved or supplemented by internal developments such as collection sets, break-resistant cryogenic bags, or temperature monitored transport containers. An additional example is the development of the decentralized system (DESY) for the GMP-compliant collection, preparation and cryo-preservation of umbilical cord blood outside of clean rooms. The system was patented and employed in Denmark and Chile. In addition, Vita 34 has developed a globally unique method for storing umbilical cord tissue in accordance with GMP standards, in order to obtain stem cells as the base material for therapeutic purposes. New products of this type with a high level of differentiation have a significant potential for continuously generating market growth.

Winning the TOP 100 innovation prize is both an incentive and an obligation for Vita 34, to consistently follow the "path of innovations."

Revenue and Profit Situation

1st Half-Year 2016

Revenues in the reporting period increased due to the expanded consolidation group as compared with the prior year's period and the new sales partners by 25 percent to EUR 8.0 million (prior year EUR 6.4 million), of which EUR 7.9 million were in the Stem Cell Banking segment (first half-year 2015: EUR 6.2 million) and the Biotechnology segment EUR 0.1 million (first half-year 2015: EUR 0.2 million). Thus, total operating revenue increased to EUR 8.7 million (prior year EUR 7.1 million). The integration of the acquired companies in the first half-year also had an effect on profitability. In the first half-year 2016 the gross profit from sales totaled of EUR 4.0 million, following EUR 3.7 million in the 2015 reporting period. This is equivalent to a gross margin of 50.4 percent (first half-year 2015: 57.6 percent). The course towards increasing profitability is set with the closure of the laboratory in Denmark.

In all, the selling expenses of some EUR 2.5 million in the first half-year 2016 were 13.6 percent higher than the previous year's value (first half-year 2015: EUR 2.2 million). The administrative expenses increased to EUR 1.9 million in the reporting period following EUR 1.6 million in the reporting period. The increase in costs of this type is mainly attributable to effects in conjunction with the integration of new subsidiary companies into the Group.

The other operating expenses and income remained constant at EUR 0.7 million, as compared with the first six months of 2015.

Correspondingly, the earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 0.9 million in the first half-year of 2016 were below the value of EUR 1.1 million in the prior year's period. The earnings before interest and taxes (EBIT) decreased to EUR 0.3 million in the reporting period (first half-year 2015: EUR 0.6 million).

With earnings before tax (EBT) in the amount of EUR 0.3 million (first half-year 2015: EUR 0.6 million) income tax expense decreased to EUR 0.1 million (first half-year 2015: EUR 0.2 million).

The period result in the first half-year 2016 decreased to EUR 0.1 million (first half-year 2015: EUR 0.4 million). The earnings per share in the reporting period, taking into consideration the shares of all other shareholders were EUR -0.02 (prior year EUR 0.13).

In particular, the period result was influenced by the still inefficient structures in the acquired companies. By restructuring and moving underused laboratory capacities to Germany, cost savings will be realized in the future, which leads us to expect a positive effect on the full year.

The integration of the acquired companies was successfully pursued in the first half-year 2016, and is mainly completed in the first half-year 2016: The production process for all companies was centralized at the end of the first half-year 2016.

Q2 2016

In Q2 2016 Vita 34 recorded revenues of EUR 4.2 million, following EUR 3.3 million in the prior year's quarter, which is equivalent to an increase of 26 percent. Despite the increase in revenue, EBITDA of EUR 0.5 million was at the level of the prior year due to the ongoing integration process. Administrative Costs in Q2 2016 were EUR 1.0 million (Q2 2015: EUR 0.8 million), the selling expenses were EUR 1.3 million (Q2 2015: EUR 1.2 million). The other operating expenses and income in Q2 2016 were EUR 0.4 million (Q2 2015: EUR 0.3 million). The EBIT produced a value of EUR 0.3 million, following EUR 0.2 million in the prior year.

Financial Situation

Based on a period result before income tax in the amount of EUR 0.3 million in the first half of 2016 (first half-year 2015: EUR 0.6 million), after adjustments for non-cash items, there was a cash flow from operating activities of EUR -0.1 million. This was primarily caused by special effects in the working capital in the first half-year. The Working Capital in the first half-year 2016 showed a change of EUR -0.5 million, which is in particular due to the decrease in receivables from subsidies and other assets, among other things from tax bills from an ongoing suit based on the non-recognition losses carried forward (EUR 0.4 million), as well as the gradual reduction in receivables at the end of this reporting period.

In the first half-year 2016, Vita 34 invested a total of EUR 0.3 million in intangible assets and plant and equipment. The investment in long-term financial assets in the reporting period was EUR 0.1 million.

The cash flow from financing activities in the reporting period 2016 was EUR -0.2 million, which is primarily attributable to the partial redemption of a loan.

As of June 30, 2016 Vita 34 had cash and cash equivalents amounting to some EUR 1.4 million (June 30, 2015: EUR 2.1 million). The reduction resulted among other things from the repayment of the loan and higher receivables at the end of the first half-year, which was quickly offset.

Assets

The balance sheet total decreased from EUR 43.8 million to EUR 42.9 million as of June 30, 2016. On the asset side of the balance sheet the non-current assets were EUR 36.1 million (December 31, 2015: EUR 36.5 million). In particular, the non-current assets contain goodwill of EUR 13.5 million (December 31, 2015: EUR 13.7 million). This item contains the good will of the segments stem cell banking and Biotechnology.

Current assets as of June 30, 2016 were EUR 6.7 million (December 31, 2015: EUR 7.3 million). The slight decrease was, in particular, the result of low cash.

On the liabilities side of the balance sheet the equity as of June 30, 2016 was EUR 23.6 million and, thus, slightly under the year's end 2015 level of EUR 23.8 million. This resulted in an equity ratio as of the closing date of the reporting period of 55.1 percent as compared with 54.3 percent as of December 31, 2015.

The non-current liabilities and deferred income were EUR 15.0 million at the same level at the end of fiscal year 2015. Current liabilities without deferred income decreased from EUR 5.1 million as of year's end 2015 to EUR 4.3 million as of June 30, 2016. This decline resulted, in particular, from lower trade liabilities of EUR 0.8 million as of the closing date June 30, 2016 (December 31, 2015: EUR 1.3 million). In addition, the liabilities arising from interest bearing loans of EUR 0.6 million decreased as of December 31, 2015 to EUR 0.5 million. Deferred Income totaled EUR 1.9 million as of June 30, 2016 (December 31, 2015: EUR 1.8 million). This contains the storage fees that are collected from customers one time in advance, and are dissolved in linear fashion over the agreed storage period.

In all, Vita 34 is financially well positioned for the future. This is expressed in a strong equity ratio of 55.1 percent and again higher sales revenues as compared with the prior year. The current cash and securities investments of Vita 34 form a solid basis for solid growth.

Balance Sheet

Subsequent Report

Following the closing of the reporting period, no signifi cant events have occurred that would have had a special signifi cance for or a substantial effect on the picture of the asset, fi nancial and profi t situation of the Group portrayed by this interim report.

Opportunity and Risk Report

As compared with the opportunities and risks presented in the 2015 annual report, there have been no signifi cant changes in the reporting period. More information on the special risks and opportunities of Vita 34 AG can be found in the "Internal Controlling and Risk Management System and Risk Report," "Corporate Risks" and "Opportunities for Future Development" chapters of the Vita 34 AG annual report of March 30, 2016. This can be found on the Vita 34 website (www.vita34group.de).

Prognosis Report

Outlook

In the first half-year of 2016 Vita 34 expanded its market position via new sales and cooperative efforts in Germany and abroad. The core elements of the sustainable Vita 34 growth strategy include strengthening market leadership, as well as further development of the product portfolio, and research activities in the field of regenerative medicine. In light of advances in these areas, as well as the expected increase in demand for cryo-preservation, Group management considers the medium to long-term growth prospects of the company to be good.

Company revenues developed according to plan in the first half-year of 2016. Vita 34 earned revenues of EUR 8.0 million in the first six months of 2016 (first half-year 2015: EUR 6.4 million), and based on the forecast for fiscal year 2016 is within its plan. For the first six months, this resulted in total operating revenues of EUR 8.7 million (first halfyear 2015: EUR 7.1 million). The earnings before interest, taxes, depreciation and amortization (EBITDA) was EUR 0.9 million (first half-year 2015: EUR 1.1 million), which is equivalent to an EBITDA margin of 10.7 percent (first halfyear 2015: 17.4 percent).

For the coming fiscal year, the Management Board expects a continued, solid increase in revenues as well as total operating revenue after special effects. Of course, the expenditures for the integration and restructuring of the companies acquired in 2015 will depress EBITDA in 2016. However, the company is progressing with integration faster than expected. Therefore, the Management Board expects an EBITDA margin towards the upper end of the forecast range (8-12 percent) for the full year 2016. From today's perspective, EBITDA will rise to the medium-term target value of 20 percent after completion of the integration measures. With a target equity ratio of some 50 percent, Vita 34 is positioned solidly from a financial perspective.

Vita 34 plans additional marketing and PR measures for the second half-year 2016, to support additional corporate growth. For example, the company has been presenting itself on a new corporate website since July of this year. The revised internet presence makes acquiring new customers easier. The information is formulated in an easy to understand manner, and is visually prepared correspondingly. In addition, Vita 34 is continuously investing in the areas of marketing, PR and sales. In the coming months, the public will be informed about the benefits of storing umbilical cord blood and tissue in an intensive PR campaign. Vita 34 expects increasing numbers of customers and sustainable growth from an increasing awareness of the business model.

Based on the industry related peripheral conditions, the Group management expects worldwide increasing demand for cryo-preservation and the secure storage of cells and tissues. One reason for this is the ongoing development of regenerative medicine. Therefore, Vita 34 is consistently pursuing the goal of further extending the value chain via the development and introduction of new products for pharmaceutical manufacture. In particular via our own research and development activities, Vita 34 is creating the potential of producing pharmaceuticals based on stem cells for cell therapies in the future, thereby occupying a significant market position as a specialist for stem cell collection and storage.

Leipzig, August 2016

Dr. André Gerth CEO

Dr. Wolfgang Knirsch CMO

Falk Neukirch CFO

Condensed Consolidated Interim Financial Statements and Notes

Interim Financial Statements and Notes

Condensed Consolidated Interim Financial Statements	18
Condensed Consolidated Income Statement	20
Condensed Consolidated Statement
of Comprehensive Income	21
Condensed Consolidated Statement of Financial Position 22
Condensed Consolidated Statement of Changes
in Group Equity	24
Condensed Consolidated Statement of Cash Flows	26
Notes on the Condensed Consolidated
Interim Financial Statements	27

Condensed Consolidated Income Statement

EUR k Note	04/01/– 06/30/2016	04/01.– 06/30/2015	01/01/– 06/30/2016	01/01/– 06/30/2015
Revenue	4,210	3,349	8,021	6,418
Cost of sales	–2,045	–1,395	–3,981	–2,719
Gross profit on sales	2,165	1,954	4,040	3,699
Other operating income	427	300	687	676
Marketing and selling expenses	–1,311	–1,188	–2,485	–2,187
Administrative expenses	–989	–798	–1,870	–1,569
Other operating expenses	–38	–29	–79	–41
Net operating profit/loss (EBIT)	254	239	293	578
Financial revenue	14	13	63	61
Financial expenses	–41	–18	–66	–35
Profit/loss before tax	227	234	290	604
Income tax income/expense 6	–79	–101	–142	–242
Period profit/loss	148	133	148	362
Allocation of period profit/loss after tax to the:
Owners of the parent company	–82	133	–64	391
Shares of other shareholders	230	0	212	–29
Earnings per share, basic/diluted (EUR) Basic and diluted, for profit or loss for the year attributable to the ordinary equity holders of the parent company	–0.03	0.04	–0.02	0.13

Condensed Consolidated Statement of Comprehensive Income

EUR k	04/01/– 06/30/2016	04/01/– 06/30/2015	01/01/– 06/30/2016	01/01/– 06/30/2015
Period income	148	133	148	362
Net profit /loss from available-for-sale financial assets	7	–49	–4	–49
Income tax effect	–2	15	1	15
Other income, to be reclassified into consolidated income statement in subsequent periods	5	–34	–3	–34
Total income after tax	153	99	145	328
Allocation of total income to
Owners of the parent company	–179	99	–169	357
Shares of other shareholders	230	0	212	–29

EUR k	06/30/2016	12/31/2015
Non-current assets
Goodwill	13,541	13,731
Intangible assets	12,058	12,469
Property, plant and equipment	5,060	5,145
Other financial assets	4,439	4,012
Non-current trade receivables	876	950
Restricted cash	170	170
	36,144	36,477
Current assets
Inventories	278	423
Trade receivables	3,661	3,748
Other receivables and assets	1,346	1,052
Cash and cash equivalents	1,444	2,082
	6,729	7,305
	42,873	43,782

Condensed Consolidated Statement of Financial Position (Assets)

Condensed Consolidated Statement of Financial Position (Liabilities)

EUR k	06/30/2016	12/31/2015
Issued capital
Subscribed capital	3,027	3,027
Capital reserves	18,213	18,213
Retained earnings	2,864	2,928
Other reserves	–160	–157
Treasury shares	–337	–337
Non-controlling interests	5	82
	23,612	23,756
Non-current liabilities and deferred income
Trade payables	532	570
Interest-bearing loans	2,033	2,176
Silent partners' interests	940	940
Deferred income taxes	1,782	1,704
Deferred grants	994	1,036
Deferred income	8,693	8,543
	14,974	14,969
Current liabilities and deferred income
Trade payables	814	1,322
Provisions	17	29
Income tax payable	95	159
Interest-bearing loans	462	613
Deferred grants	85	85
Other liabilities	924	1,054
Deferred income	1,890	1,795
	4,287	5,057
	42,873	43,782

			Equity attributable to the
EUR k	Subscribed Capital	Capital reserves	Reained earnings	Reserves for available for-sale financial assets
Balance as of January 1, 2015	3,027	18,213	1,390	0
Period result	0	0	391	0
Other result	0	0	0	–34
Total operating revenue	0	0	391	–34
Changes to the consolidation group	0	0	0	0
Balance as of June 30, 2015	3,027	18,213	1,781	–34
Balance as of January 1, 2016	3,027	18,213	2,928	–35
Period result	0	0	–64	0
Other result	0	0	0	–3
Total operating revenue	0	0	–64	–3
Changes to the consolidation group	0	0	0	0
Balance as of June 30, 2016	3,027	18,213	2,864	–38

Total	Non-controlling	Treasury shares	Total	Revaluation
equity	interests	at costs	equity	reserves
22,160	88	–436	22,508	–122
362	–29	0	391	0
–34	0	0	–34	0
328	–29	0	357	0
0	0	0	0	0
22,488	59	–436	22,865	–122
23,756	82	–337	24,011	–122
148	212	0	–64	0
–3	0	0	–3	0
145	212	0	–67	0
–289	–289	0	0	0
23,612	5	–337	23,944	–122

Equity attributable to the owners of the parent company

EUR k Note	01/01/– 06/30/2016	01/01/ – 06/30/2015
Cash flow from operating activities
Earnings before taxes	290	604
Adjusted for:
Depreciation	565	539
Other non-cash expenses/income	–45	–165
Financial income	–63	–61
Financial expenses	66	35
Working capital adjustments:
+/ – Receivables and other assets	–401	798
+/ – Inventories	66	11
+/ – Liabilities	–410	–170
+/ – Provisions	–12	–42
+/ – Deferred income	213	231
Interest paid	–54	–35
Income taxes paid	–278	–253
Cash flow from operating activities	–63	1,492
Cash flow from investing activities
Purchase of intangible assets	–58	–342
Purchase of property, plant and equipment	–253	–466
Purchase of long-term financial investments	–123	–3,104
Interest received	60	20
Cash flow from investing activities	–374	–3,892
Cash flow from financing activities
Cash received from investment grants	0	1
Changes in loans	–156	760
Cash flow from financing activities	–156	761
Net change in cash and cash equivalents	–593	–1,639
Cash and cash equivalents at the beginning of the reporting period	2,082	3,730
Changes in cash and cash equivalents from changes in consolidation	–45	2
Cash and cash equivalents at the end of the reporting period 5 (liquid funds)	1,444	2,093

Condensed Consolidated Statement of Cash Flows

Notes to the Consolidated Interim Financial Statements

1. Information about the Company

The parent company Vita 34 AG (the "company"), headquartered in Leipzig (Germany), Deutscher Platz 5a, recorded in the commercial register of the District Court Leipzig under number HRB 20339, is a company whose corporate purpose is the collection, preparation and storage of stem cells from umbilical cord blood, the development of cell therapy procedures and the implementation of projects in the field of biotechnology. Its subsidiaries (together with the company referred to as the "Group") are also active in the field of cord blood storage.

The unaudited condensed consolidated interim financial statements for the period from January 1 to June 30, 2016 was authorised for issue by the Management Board on August 23, 2016.

2. Accounting and valuation principles

2.1 Basis for the Preparation of the Financial Statements

The consolidated interim financial statements for the period from January 1 to June 30, 2016 were prepared in accordance with IAS 34 "Interim Financial Reporting".

The consolidated interim financial statements do not contain all disclosures and information required for the financial statements of the financial year and should be read in conjunction with the consolidated financial statements as of December 31, 2015.

2.2 Significant accounting and valuation methods

The accounting and valuation methods used in preparing the consolidated interim financial statements are consistent with those methods used in preparing the consolidated financial statements for the financial year ending December 31, 2015.

The Group used the following new and revised IFRS standards and interpretations for the first time as of January 1, 2016:

• y Amendments to IFRS 11, Joint Arrangements Accounting for the acquisition of an interest in a joint operation;
• y Amendments to IAS 1, Presentation of Financial Statements;
• y Amendments to IAS 16, Property, plant and equipment and IAS 38, Intangible Assets;
• y Amendments to IAS 16, Property, plant and equipment and IAS 41, Agriculture;
• y Amendments to IAS 27, Consolidated and separate financial statements;
• y Amendments to IAS 19 Employee benefits employee contributions;
• y Annual improvements to IFRS cycle 2010 2012: The adjustments to the standards include changes and clarifications to IFRS 2, IFRS 3, IFRS 8, IAS 16, IAS 24 and IAS 38;
• y Annual improvements to IFRS cycle 2012 2014: The adjustments to the standards include changes and clarifications to IFRS 5, IFRS 7, IFRS 19 and IAS 34;

The standards and interpretations mandatory for the first time from January 1, 2016 had no significant impact on the consolidated interim financial statements of Vita 34 AG.

3. Transitional consolidation

With effect from July 1, 2015, Vita 34 AG acquired the majority voting interest and 30 percent of the shares in its longstanding partner Bio Save d.o.o. ("Bio Save Serbia"), Belgrade, Serbia. At the time of acquisition, Bio Save Serbia owned the following subsidiaries with the respective direct ownership interest:

• y Izvorna Celica d.o.o., Ljubljana, Slovenia (100%),
• y Bio Save d.o.o., Podgorica, Montenegro (51%),
• y Bio Save d.o.o., Sarajevo, Bosnia and Herzegovina (35%).

Bio Save Serbia and its subsidiaries (together referred to as the "Subgroup" or "Bio Save") were included in the consolidated financial statements of Vita 34 AG from July 1, 2015 onwards by way of full consolidation.

The following statements regarding the transitional consolidation refer to the subgroup "Bio Save".

With effect from June 30, 2016, the shareholders of Bio Save Serbia passed a resolution as a result Vita 34 AG concedes the majority voting interest. Shareholder control of Bio Save Serbia is therefore now ruled out due to a lack of opportunity to control the activities of Bio Save Serbia relevant to the generation of profits. The full consolidation of the subgroup will therefore end after June 29, 2016. With effect from June 30, 2016, Bio Save was included in the consolidated financial statements of Vita 34 AG by means of equity consolidation.

The carrying amounts of assets and liabilities of Bio Save at the time of the transitional consolidation are shown in the table below:

Overview of the assets and liabilities of Bio Save

EUR k	Fair value at the time of the transition consolidation
Financial assets	1,431
Non-current assets	432
Intangible assets	290
Tangible assets	142
Other financial assets	0
Current assets	999
Inventories	79
Trade receivables	724
Other assets	151
Cash and cash equivalents	45
Liabilities	–832
Long-term debt	–237
Trade payables	–63
Interest-bearing loans	–99
Passive deferred tax	3
Deferred income	–78

Current liabilities	–595
Trade payables	–406
Interest-bearing loans	–50
Other liabilities	–138
Deferred income	–1

The fair values of the assets and liabilities of Bio Save correspond to the respective consolidated book values.

The transitional consolidation profit has been calculated as follows:

Overview transitional consolidation result

EUR k	2016
Fair value of the remaining shares	310
plus book value minority interest	289
less net assets at consolidated book values	–599
Transitional consolidation result	0

4. Scope of consolidation

The interim consolidated financial statements include the parent company Vita 34 AG and the interim financial statements of the following subsidiaries and associates:

• y Novel Pharma, S.L., Madrid, Spain,
• y Secuvita, S.L., Madrid, Spain,
• y stellacure GmbH, Leipzig, Germany,
• y Vita 34 Gesellschaft für Zelltransplantate m.b.H., Vienna, Austria,
• y Bio Save d.o.o., Belgrade, Serbia,
• y Izvorna Celica d.o.o., Ljubljana, Slovenia,
• y Bio Save d.o.o., Podgorica, Montenegro,
• y StemCare ApS, Gentofte, Denmark.

5. Cash and cash equivalents

For purposes of the consolidated statement of cash flows, cash and cash equivalents are broken down as follows:

Overview of cash and cash equivalents

EUR k	06/30/2016	06/30/2015
Bank balances and cash on hand	1,444	2,093
	1,444	2,093

6. Income taxes

The main components of amounts recognized as income tax expenses in the condensed consolidated income statement are as follows:

Consolidated profit and loss statement

EUR k	01/01/– 06/30/2016	01/01/ – 06/30/2015
Current income tax
Current income tax expenses	66	24
Deferred income taxes
on origination and reversal of temporary differences	–126	26
on unused tax losses	202	192
Income tax expense	142	242

Consolidated Statement of Comprehensive Income

EUR k	01/01/– 06/30/2016	01/01/ – 06/30/2015
Deferred income taxes from other comprehensive income recognised during the financial year
Unrealised gains from available-for-sale financial assets	–1	–15
	–1	–15

7. Segment reporting

The Group is organised into business units according to products and services for the purpose of corporate taxation and has the following two reporting business segments:

• y The "Stem Cell Banking" business segment is active in the field of the collection, processing and storage of stem cells from umbilical cord blood and tissue and is also involved in the development of cell therapy procedures;
• y The "Biotechnology" business segment develops biological processes for cell and tissue culture and uses them for the optimisation and multiplication of cells and plants. Analyses and services are provided for environmental projects.

The operating profit or loss of the segments is monitored separately by management in order to make decisions on the allocation of resources and determine the profitability of the units. Segment performance is evaluated on the basis of operating profit. Group financing (including financial income of EUR 63 k and financial expenses of EUR 66 k) and taxes on income and profits are managed on a group basis and are not allocated to the individual segments.

Offset prices between operating segments are determined on the basis of typical market conditions between unrelated third parties.

The following tables contain information about earnings and segment results of the Group's operating segments for the period January 1 to June 30, 2016 and 2015:

EUR k	Stem cell banking	Biotechno logy	Total	Consoli dation	Group
Revenue from transactions with external customers	7,967	54	8,021	0	8,021
EBITDA (earnings before depreciation)	802	56	858	0	858
Depreciation	–550	–15	–565	0	–565
EBIT (net operating profit)	252	41	293	0	293
Segment assets	41,493	1,902	43,395	–522	42,873
Segment liabilities	–19,081	–702	–19,783	522	–19,261

Period from 01/01/ to 06/30/2016

Period from 01/01/ to 06/30/2015

EUR k	Stem cell banking	Biotechno logy	Total	Consoli dation	Group
Revenue from transactions with external customers	6,236	182	6,418	0	6,418
EBITDA (earnings before depreciation)	961	156	1,117	0	1,117
Depreciation	–465	–74	–539	0	–539
EBIT (net operating profit)	496	82	578	0	578
Segment assets	35,448	3,930	39,378	–1,109	38,269
Segment liabilities	–14,879	–2,011	–16,890	1,109	–15,781

The consolidation effects between the summary segment assets and liabilities and the consolidated assets and liabilities are mainly attributable to receivables and liabilities between segments.

7.1 Information about geographical regions

The Group's geographical segments are determined according to the revenue generated in the geographical regions. The segmentation of the revenues was performed on the basis of the headquarters of the Group's company that provides the service.

The following tables contain information about the earnings and segment results of the geographic segments of the Group for the period January 1 to June 30, 2016 and 2015:

EUR k	Germany	Foreign countries	Total	Consoli dation	Group
Revenue from transactions with external customers	4,728	3,293	8,021	0	8,021
Revenue from transactions with other segments	815	0	815	–815	0
	5,543	3,293	8,836	–815	8,021
EBITDA (earnings before depreciation)	940	5	945	–87	858
Depreciation	–215	–350	–565	0	–565
EBIT (net operating profit)	725	–345	380	–87	293
Segment assets	45,395	2,009	47,404	–4,531	42,873
Segment liabilities	–13,861	–9,931	–23,792	4,531	–19,261

Period from 01/01/ to 06/30/2016

Period from 01/01/ to 06/30/2015

EUR k	Germany	Foreign countries	Total	Consoli dation	Group
Revenue from transactions with external customers	5,087	1,331	6,418	0	6,418
Revenue from transactions with other segments	346	0	346	–346	0
	5,433	1,331	6,764	–346	6,418
EBITDA (earnings before depreciation)	716	401	1,117	0	1,117
Depreciation	–246	–293	–539	0	–539
EBIT (net operating profit)	470	108	578	0	578
Segment assets	40,576	1,968	42,544	–4,275	38,269
Segment liabilities	–12,127	–7,929	–20,056	4,275	–15,781

8. Information about related party transactions

Vita 34 AG and the following subsidiaries and associated companies were included in the consolidation group:

Share of issued capital

%	06/30/2016	06/30/2015
Full consolidation
Novel Pharma, S.L., Madrid, Spain	100.0	100.0
Secuvita, S.L., Madrid, Spain	88.0	88.0	(indirect)
stellacure GmbH, Leipzig, Germany	75.2	75.2
Vita 34 Gesellschaft für Zelltransplantate m.b.H., Vienna, Austria	100.0	100.0
StemCare ApS, Gentofte, Denmark	100.0	100.0
Bio Save d.o.o., Belgrade, Serbia (until 06/29/16)	30.0	0.0
Izvorna Celica d.o.o., Ljubljana, Slovenia (until 06/29/16)	30.0	0.0	(indirect)
Bio Save d.o.o., Podgorica, Montenegro (until 06/29/16)	15.3	0.0	(indirect)
At-equity consolidation
Bio Save d.o.o., Belgrade, Serbia (from 06/30/16)	30.0	0.0
Izvorna Celica d.o.o., Ljubljana, Slovenia (from 06/30/16)	30.0	0.0	(indirect)
Bio Save d.o.o., Podgorica, Montenegro (from 06/30/16)	15.3	0.0	(indirect)

As the control of the subgroup Bio Save ended after June 29, 2016, it was included in the consolidated financial statements by way of equity consolidation from this point onwards; we refer to the notes under Section 3 "Transitional consolidation".

Related parties include subsidiaries which were not included in the consolidated financial statements, shareholders with significant influence and key management personnel of the company.

The following subsidiaries and associates of Vita 34 AG were not included in the consolidated financial statements, in some cases for reasons of materiality:

Share of equity capital
%	2016	2015
VITA 34 Slovakia, s.r.o, Bratislava, Slovakia	100.0	100.0
Bio Save d.o.o., Sarajevo, Bosnia and Herzegovina	10.5	10.5	(indirect)
Kamieninių ląstelių bankas UAB "Imunolita", Vilnius, Lithuania	35.0	35.0

The following tables show transactions between related parties for the period from January 1 to June 30, 2016 and 2015:

Transactions with affiliated companies

	Received
	services
	and other	Sales and		Liabilities
	expenses	revenues	Receivables	towards
	from affiliated	with affiliated	from affiliated	affiliated
	companies	companies	companies	companies
	and	and	and	and
06/30/2016	individuals	individuals	individuals	individuals
Subsidiaries of Vita 34 AG
Bio Save d.o.o., Belgrad, Serbia	0	0*	156	0
Izvorna Celica d.o.o., Ljubljana, Slovenia	0	0*	160	0
Bio Save d.o.o., Podgorica, Montenegro	0	0*	25	0
Bio Save d.o.o. , Sarajevo, Bosnia and Herzegovina	0	19	50	0
Kamieninių ląstelių bankas UAB "Imunolita",
Vilnius, Lithuania	0	61	18	0
VITA 34 Slovakia, s.r.o, Bratislava, Slovakia	0	3	0	0

* The income and expenses for the 1st half of the year with these companies were fully consolidated due to the ongoing control up to and including June 29, 2016.

No corresponding business events with subsidiaries of Vita 34 AG took place during the period January 1 to June 30, 2015.

Loans granted to affiliated companies

EUR k	Interest received	Accounts receivable	Interest paid	Liabilities
06/30/2016
Subsidiaries of Vita 34 AG
VITA 34 Slovakia, s.r.o, Bratislava, Slovakia	3	349	0	0
06/30/2015
Subsidiaries of Vita 34 AG
VITA 34 Slovakia, s.r.o, Bratislava, Slovakia	2	229	0	0

A revolving credit line of EUR 400 k has been granted to VITA 34 Slovakia, s.r.o. The revolving credit line is unsecured and has an unlimited term. The interest rate is 200 basis points above the euro lnterbank Offered Rate and is adjusted annually.

The following table shows the remuneration of key personnel, including rata bonuses, during the period January 1 to June 30, 2016 and 2015:

Expenses to key personnel

EUR k	01/01/– 06/30/2016	01/01/– 06/30/2015
Remuneration of key personnel in the Group:
Short-term benefits:
Supervisory Board remuneration	80	45
Management Board salaries	347	314
Management Board salaries for previous years	0	79

Dr Gerth (CEO) was paid rent for the use of storage rooms in the amount of EUR 5 k during the period January 1 to June 30, 2016 (January 1 to June 30, 2015: EUR 5 k).

There is an agreement with a former Director concerting the use and exploitation of a patent application and two patents. The corresponding patents and patent application have been granted to Vita 34 AG permanently by the Management Board. No compensation has become due during the period January 1 to June 30, 2016 or during the period January 1 to June 30, 2015 for this transfer of use.

The Group has agreed to render performance in the amount of EUR 195 k to a company affiliated with a member of the Supervisory Board. During the period January 1 to June 30, 2016, services with a scope of EUR 9 k (January 1 to June 30, 2015: EUR 26 k) were provided.

Leipzig, August 23, 2016 Management Board of Vita 34 AG

Dr. André Gerth CEO

Dr. Wolfgang Knirsch CMO

Falk Neukirch CFO

Declaration of the Legal Representatives

We hereby affirm that to the best of our knowledge the consolidated financial statements provide a picture of the asset, financial and profit situation of the Group, which reflects the actual circumstances in accordance with the applicable accounting policies, and that the management report presents the course of business, including the financial results, and the situation of the company in a manner that corresponds with the actual circumstances, and that the most important opportunities and risks of the foreseeable development of the Group have been described.

Leipzig, August 2016

Management Board of Vita 34 AG

Dr. André Gerth CEO

Dr. Wolfgang Knirsch CMO

Falk Neukirch CFO

Contact Information

Contact

Vita 34 AG Deutscher Platz 5 04103 Leipzig Germany

Telephone: +49 341 48792-40 Fax: +49 341 48792-39 E-Mail: ir@vita34group.de

Copy and Editing

Vita 34 AG, Leipzig cometis AG, Wiesbaden

Photo credits

Cover: istockphoto.com – 26050631

Production

The production of the paper is certified in accordance with DIN ISO 9001 and 14001. The cellulose and paper plants of the manufacturer are certified in accordance with FSC Chain of Custody. The wood originated exclusively from controlled and sustainably managed forests.

Publication

This Interim Report was published in German and English on August 23, 2016 and is available for download on our internet site.

Vita 34 on the Internet: www.vita34group.com

Vita 34 AG

Registered office: Deutscher Platz 5 | 04103 Leipzig, Germany Mailing address: Perlickstraße 5 | 04103 Leipzig, Germany Telephone +49 (0) 341 487 92 40 | Telefax +49 (0) 341 487 92 39 E-Mail ir@vita34group.de | www.vita34group.de | www.facebook.com/vita34