Vytrus Biotecha company specializing in active ingredients derived from plant stem cells for the cosmetic and dermatological industry, made its debut this Tuesday at the BME Growth with an initial valuation of 12.2 million euros that has catapulted 19.77% after the ringing of the bell, up to 2.06 euros per share, compared to 1.72 euros per starting title.
The company biotechnological and industrial -produces 17 products- founded in 2009 by Albert Jané and Òscar Expósito and with headquarters in Terrassa (Barcelona) is the second to join this market in 2022 -the first was the also Catalan Enerside Energy-, and with its exit al parquet seeks to strengthen its national and international image, as well as add a source of financing for possible opportunities to purchase other companies in order to grow. They are looking for both complementary technologies and commercial or industrial growth, Jané explained to the Economist. This year they will begin to analyze operations, which they hope to formalize “in the medium term”.
Vytrus, which until now has focused on organic growth, has increased its turnover by 65% year-on-year in 2021 to 2.8 million euros, which represents an increase in sales of 133% in the two years of the pandemic and an annual double-digit increase, in the trend of the last five years. Likewise, Vytrus has managed to increase its EBITDA by 90% to 1.12 million in 2021, and multiply the EBITDA obtained in 2019 by more than 5.
Exports account for 65% of sales, which reach more than 30 countriesand the company plans to continue increasing double-digit turnover in 2022, continuing the path of recent years.
At the end of last year, the fund Zamit Capital, an investment vehicle managed by GVC Gaesco Valores, and the commercial partner of Vytrus in the United States. Also, the family office from Julia Perfumeries and the Catalan Institute of Finances, through the ICF Venture Tech II fund, have reinvested in Vytrus, reinforcing their position in the company, in which the two founders hold 40% of the capital. Some 270 minority partners are also part of the company.