Biogena goes public on the Vienna Stock Exchange and raises approximately 25 million euros

The Austrian healthcare group Biogena has begun trading on the “direct market plus” segment of the Vienna Stock Exchange through its subsidiary BIOGENA Good Vibes AG. According to founder and CEO Albert Schmidbauer, the accompanying capital increase will bring the company approximately 25 million euros. Approximately 2,500 new shareholders participated, and the free float stands at around 18 percent at the time of the market debut. At the same time, the Salzburg-based company has set an ambitious growth target: Revenue is expected to rise from the current level of around 125 million euros to 500 million euros by 2030.

Stock Market Debut with Approximately 18 Percent Free Float

With the start of trading for BIOGENA Good Vibes AG, the top-level holding company of the BIOGENA GROUP is now listed on the Vienna Stock Exchange. The stock is listed under the ticker symbol BIOG. Baader Bank is serving as market maker, and the stock offering was supported by Bankhaus Martin. However, Schmidbauer does not want to link the opening to external shareholders with a withdrawal of the founding family. According to him, the family’s majority stake is to be maintained permanently.

At the same time, the direct market plus is not intended to mark the end of Biogena’s capital market strategy. Schmidbauer describes the segment as a “good starting point” and makes it clear: “We naturally have bigger plans.” “direct market plus” is an EU-registered SME growth market within the Vienna MTF. It is designed to provide smaller companies, in particular, with a relatively easy entry into the capital market.

Stock Opens Higher

Biogena also got off to a positive start on the stock market. The BIOGENA Good Vibes AG stock began trading at a reference price of 4.80 euros. By mid-morning on the first trading day, the stock was already trading at 5.15 euros, up about 7.3 percent. However, it is still too early to make a reliable assessment of the stock’s performance, as trading began only today.

Revenue to rise from 125 to 500 million euros

The medium-term growth targets are significantly more ambitious than the stock market debut itself. According to Schmidbauer, the BIOGENA GROUP currently generates revenue of around 125 million euros. By 2030, this is expected to rise to 500 million euros, effectively quadrupling within just a few years.

Particularly noteworthy is a statement by the founder regarding production capacity: no additional investments in production will be necessary to achieve the targeted growth. “We don’t have to invest a single euro to do this,” says Schmidbauer, referring to the revenue target.

The necessary production capacity is already in place. This would allow a significant portion of the additional capital to be channeled into commercial expansion and the development of distribution channels.

Germany and Pharmacies to Drive Growth

Biogena sees the expansion of its sales operations as a key growth driver. This includes, in particular, the pharmacy market. Sales through pharmacies are set to begin as early as October. At the same time, the company is banking on further growth in e-commerce as well as stronger expansion in Germany.

The company’s own brick-and-mortar concept is also being expanded. New “Biogena Plazas” are planned for Munich and Frankfurt. According to the company, it already reaches around one million customers and is active in more than 70 countries with its products.

More Than Just Micronutrients

Biogena now positions itself as much more than a traditional provider of dietary supplements. In addition to premium micronutrient supplements, its offerings include diagnostics, functional health products, and personalized health and longevity concepts. These are complemented by consulting and educational services, as well as activities in the field of biohacking.

The strategy thus follows a platform-based approach centered on prevention and health: products, diagnostics, consulting, and other services are to be more closely integrated. With its access to the capital markets, Biogena now aims to further expand this positioning internationally.

Group structures are to be consolidated

However, Biogena is not entirely new to the Vienna Stock Exchange. Since 2020, Biogena Group Invest AG—a part of the corporate group—has been listed on the direct market plus. Going forward, these structures are to be consolidated.

According to Schmidbauer, preparations for the merger of Biogena Group Invest AG with the newly listed BIOGENA Good Vibes AG are already complete, and the merger is expected to be implemented within a few months. This would consolidate the structure—which is currently still divided between two publicly listed companies—under the umbrella of BIOGENA Good Vibes AG.

The Capital Market as a Launching Point for the Next Phase of Growth

For Biogena, the move to the stock market is thus primarily part of a broader growth strategy. The capital increase will provide the company with approximately 25 million euros in additional capital, while simultaneously broadening its shareholder base to include some 2,500 new shareholders. However, the key factor will be less the IPO itself than the implementation of the company’s ambitious growth plans.

A jump in revenue from around 125 to 500 million euros by 2030 would represent a fourfold increase in business. According to the company, this will not require additional investments in production capacity, which could give Biogena financial leeway for sales, international expansion, and new business areas.

With pharmacies, e-commerce, and further expansion in Germany, the first growth areas have already been identified. At the same time, Schmidbauer suggests that the “direct market plus” could be merely Biogena’s first step in the capital market.