- Strong operational and financial performance
- Expansion of leading external innovation platform through acquisition of aptuit
- Important milestone achievements and new ways of accelerating innovation
Hamburg, Germany, 08 November 2017:
Evotec AG (Frankfurt Stock Exchange: EVT, TecDAX, ISIN: DE0005664809) today reported financial results and corporate updates for the first nine months of 2017.
Financial performance reflects growth path
- Group revenues: 42% increase to € 170.9 m (9M 2016: € 120.6 m);
- EVT Execute revenues up 30% to € 165.1 m (9M 2016: € 126.6 m);
- EVT Innovate revenues up 84% to € 33.2 m (9M 2016: € 17.9 m)
- Adjusted Group EBITDA up 28% to € 39.3 m (9M 2016: € 30.6 m);
- Adjusted EBITDA for EVT Execute of € 41.7 m (9M 2016: € 41.3 m);
- Adjusted EBITDA for EVT Innovate of € (2.4) m (9M 2016: € (10.7) m)
- R&D expenses at € 12.5 m (9M 2016: € 12.8 m)
- Strong strategic liquidity position of € 88.8 m (after completion of Aptuit acquisition)
EVT Execute – Expansion and growth of high-quality services
- Extension of value chain and high-quality development services following Aptuit acquisition
- Cyprotex integration and performance proceeding according to plan
- Multiple new and extended integrated drug discovery alliances, e.g. with Abivax, Blackthorn Therapeutics, Dermira, STORM Therapeutics and Tesaro (after period-end)
- Significant progress within ongoing alliances (e.g. Bayer alliance in endometriosis: Start of second clinical Phase I study)
- Indication extension and initiation of pre-clinical development of existing clinical asset with Bayer in new product franchise (undisclosed)
EVT Innovate – Very good scientific progress and important milestones
- Important milestone achievements (Kidney disease alliance with Bayer, iPSC neurodegeneration alliance with Celgene, iPSC diabetes alliance with Sanofi)
- Strong focus on expansion of iPSC platform through new strategic collaborations with Censo Biotechnologies, Fraunhofer IME-SP and Ncardia
- Unique biobank approach through NURTuRE consortium in kidney diseases
- Evotec joins NEPLEX consortium to accelerate the discovery of a novel drug discovery device to test drug candidates in human kidneys (after period-end)
- Expansion of joint venture and strategic investment in Exscientia
- Expansion of CKD Bayer alliance
- Academic BRIDGE model gaining momentum: First North American BRIDGE established with MaRS Innovation in Canada (LAB150); two funding rounds completed in LAB282 projects (Oxford University)
- Acquisition of Aptuit: $ 300 m in cash (effective 11 August 2017)
- Continued high-value strategic investments and company formations (e.g. Eternygen, Exscientia, Facio Therapies, Forge Therapeutics)
- Loan facility issued by European Investment Bank of up to € 75 m to support Innovate R&D strategy
- Novo Holdings A/S new strategic investor in Evotec holding >10%
Guidance 2017 confirmed
All elements of the financial guidance confirmed.
For more information , please find attached the full text of our press release or visit our website: http://www.evotec.com
The Company is going to hold a conference call to discuss the results as well as to provide an update on its performance. The conference call will be held in English.
Conference call details
Date: Wednesday, 08 November 2017
Time: 02.00 pm CET (01.00 pm GMT/08.00 am EST)
From Germany: +49 69 22 22 29 043
From France: +33 170 750 705
From Italy: +39 02 3601 3806
From UK: +44 20 3009 2452
From USA: +1 855 402 7766
Access Code: 37969784#
A simultaneous slide presentation for participants dialling in via phone is available at http://www.audio-webcast.com/, password: evotec1117.
To join the audio webcast and to access the presentation slides you will find a link on our home page www.evotec.com shortly before the event.
A replay of the conference call will be available for 24 hours and can be accessed in Europe by dialling +49 69 22 22 33 985 (Germany) or +44 20 3426 2807 (UK) and in the USA by dialling +1 866 535 8030. The access code is 654573#. The on-demand version of the webcast will be available on our website: https://www.evotec.com/article/en/Investors/Finance/Financial-Reports-2015-2017/188/6/26.
About Evotec AG
Information set forth in this press release contains forward-looking statements, which involve a number of risks and uncertainties. The forward-looking statements contained herein represent the judgement of Evotec as of the date of this release. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based.