- SUCCESSFUL START INTO 2020 WITH STRONG STRATEGIC POSITION
- CONTINUED POSITIVE FINANCIAL PERFORMANCE; NO MATERIAL IMPACT THROUGH COVID-19 PANDEMIC SO FAR
- IMPORTANT STRATEGIC STEP INTO GENE THERAPY
- GUIDANCE FOR FULL-YEAR 2020 CONFIRMED
Hamburg, Germany, 14 May 2020:
Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809) today announced the financial results and corporate updates for the first quarter 2020.
HIGHLIGHTS
STRONG PERFORMANCE IN BASE BUSINESS; INCREASED REVENUES DESPITE MODEST MILESTONE CONTRIBUTIONS IN Q1
- 15% increase in group revenues from contracts with customers to € 119.4 m (Q1 2019: € 103.8 m)
- Strong revenue growth in both segments: EVT Execute revenues up 18% to € 118.2 m (Q1 2019: € 100.3 m), EVT Innovate revenues up 24% to € 23.3 m (Q1 2019: € 18.8 m)
- Stable adjusted Group EBITDA of € 30.0 m (Q1 2019: € 30.0 m); adjusted EBITDA of € 35.4 m for EVT Execute (Q1 2019: € 32.2 m)
- Increased commitment into unpartnered R&D with expenses of € 11.4 m (Q1 2019: € 8.1 m)
- Continued strong strategic liquidity position of € 320.7 m (31 December 2019: € 320.0 m)
- No material impact by COVID-19 pandemic on financial development so far
EVT EXECUTE & EVT INNOVATE – STRONG PERFORMANCE AND STRATEGIC POSITION IN BOTH BUSINESS SEGMENTS
- Important step into gene therapy with Evotec GT and multi-year gene therapy research alliance with Takeda
- New and extended drug discovery and development agreements in EVT Execute (e.g. Amgen, Ildong)
- Just – Evotec Biologics on track for success: Strengthened position through first strategic J.POD® partnership with MSD and continued good construction progress of the first J.POD® facility in Seattle
- Advancement of an additional endometriosis programme into clinical Phase I within Bayer alliance, triggering a € 2 m milestone payment
- Strengthening of Evotec’s iPSC-based cell therapy platform EVOcells through licensing agreement with panCELLa
- Regaining global rights on iPSC-based beta cell replacement therapy from Sanofi and initiation of EVT Innovate initiative QRbeta Therapeutics (after period-end)
- Strategic equity investment and partnership with leon-nanodrugs expands formulation platform
- Evotec contributing to selected global initiatives to fight Tuberculosis and COVID-19
GUIDANCE FOR FULL-YEAR 2020 CONFIRMED
- Unchanged business outlook, taking into account currently visible negative COVID-19 effects
- Total group revenues expected to range from € 440 – 480 m (2019: € 446.4 m)
- Adjusted Group EBITDA expected to be in the range of € 100 – 120 m (2019: € 123.1 m)
- Unpartnered Group R&D expenses of approx. € 40 m
More detailed information and financial tables are available in our Quarterly Statement Q1 published on the Evotec website under the following link: https://www.evotec.com/en/invest/financial-publications.
Webcast/Conference Call
The Company is going to hold a conference call to discuss the results as well as to provide an update on its performance in the reporting period. Furthermore, the Management Board will present an outlook for fiscal year 2020. The conference call will be held in English.
Conference call details
Date: Thursday, 14 May 2020
Time: 02.00 pm CEST (08.00 am EDT, 01.00 pm BST)
From Germany: +49 69 201 744 220
From France: +33 170 709 502
From Italy: +39 02 3600 6663
From the UK: +44 20 3009 2470
From the USA: +1 877 423 0830
Access Code: 57615818#
A simultaneous slide presentation for participants dialling in via phone is available at https://webcasts.eqs.com/evotec20200514/no-audio.
Webcast details
To join the audio webcast and to access the presentation slides you will find a link on our home page shortly before the event.
A replay of the conference call will be available for seven days after the conference and can be accessed in Europe by dialling +49 69 20 17 44 221 (Germany) or +44 20 3364 5150 (UK) and in the USA by dialling +1 844 307 9362. The access code is 315586222#. The on-demand version of the webcast will be available on our website under https://www.evotec.com/financial-reports.