Vytrus Biotech, a company specializing in plant stem cell-derived active ingredients for the cosmetics industry, recorded global sales growth of 32% in the first quarter of 2024.
The Barcelona company’s unaudited quarterly results showed the growth was led by the recovery of the US and European markets at the beginning of the year (+35%).
Likewise, the Latin America area saw increased sales by 30%, largely driven by the entry in Brazil of one of the sector's top client companies. The APAC (Asia-Pacific) region remained stable with 1% growth.
First-quarter growth boosted Vytrus' year-on-year sales (sales in the last 12 months), which exceeded €4m ($4.261m) for the first time in its history.
Skin care and hair care applications were mainly responsible for growth in all markets, with special mention for products for sensitive skin and sun care.
These good figures boost the forecasts of the biotech company, which recently published its strategic plan, which forecasts sales of €12m by 2027, with EBITDA increasing by €4m to €5m.
The company foresees a mix of organic and inorganic growth; Vytrus estimates that 60% of its revenues in 2027 will come from its existing plant stem cell business and the remaining 40% will be contributed by new technologies added and acquisitions made.
The company has 21 active ingredients on the market. The latest, Baolift, was launched this month; it is a biotechnological active ingredient based on the stem cells of the millenary baobab, a tree of African origin.
Baolift is of 100% natural origin that activates the molecular mechanisms of exercise in the skin for the first time in cosmetics, improving muscle and skin tone and achieving a ‘lifting’ effect.
