- MULTIPLE NEW & EXTENDED DRUG DISCOVERY AND DEVELOPMENT ALLIANCES; VERY GOOD PROGRESS IN CO-OWNED PIPELINE
- INCREASING MOMENTUM DESPITE DIFFICULT BUSINESS ENVIRONMENT
- GUIDANCE FOR FULL-YEAR 2020 CONFIRMED; CAPACITY EXPANSION ON TRACK FOR SWIFT START TO 2021
- Continued strong performance in base business; robust revenue growth and improving EBITDA in Q3
- Group revenues: 12% increase to € 360.4 m (9M 2019: € 321.4 m)
- Significant like-for-like base revenue growth (adjusted for portfolio and FX) up 19%
- Robust revenue growth in both segments: Total EVT Execute revenues up 14% to € 352.7 m (9M 2019: € 308.1 m); EVT Innovate revenues up 21% to € 74.7 m (9M 2019: € 61.8 m)
- Adjusted Group EBITDA of € 76.9 m (9M 2019: € 93.2 m) with good momentum in Q3
- Expanded investment in R&D with expenses of € 46.1 m (9M 2019: € 41.3 m); significant increase in unpartnered R&D of 30% to € 33.4 m (9M 2019: € 25.7 m)
- No material impact of COVID-19 pandemic on overall financial and strategic development so far; slight delays in the conclusion of contracts and milestone achievements
EVT EXECUTE & EVT INNOVATE – MULTIMODALITY AND INTEGRATED PLATFORM SET FOR GROWTH IN DATA DRIVEN PRECISION MEDICINE
- Multiple new and extended drug discovery and development agreements
- Just – Evotec Biologics on track for success
- Strategic alliance with Novo Nordisk to develop novel therapies for kidney diseases
- Access to QUOD biobank to expand patient database into liver disease
- Further milestone achieved in neurodegeneration alliance with Bristol Myers Squibb
- Expanded collaboration with Centogene into Gaucher disease
- Good progress in collaboration asset with Bayer – two clinical Phase II studies with P2X3 antagonist BAY1817080/ Eliapixant were initiated by Bayer in September/October (for one study patient recruitment started after period-end)
- Important COVID-19 pandemic-related alliances with US DOD (Department of Defence) and grant from Bill & Melinda Gates Foundation (after period-end)
- Acquisition of the assets (mainly land and buildings) and takeover of staff from “Biopark by Sanofi SAS”, now “Campus Curie Toulouse”, making Evotec the full owner of the Toulouse (France) site
- Continued expansion of infrastructure to support future growth in Abingdon (UK) and Göttingen (GER)
- Mubadala Investment Company becomes strategic shareholder and Novo Holdings A/S reinforces its commitment, together investing € 250 m through a capital increase (after period-end)
- Renewal of contract with CEO Dr Werner Lanthaler for five years until 05 March 2026 (after period-end)
GUIDANCE FOR FULL-YEAR 2020 CONFIRMED
- Unchanged business outlook compared to half-year report 2020, taking into account currently visible COVID-19 effects
- Group revenues from contracts with customers expected to range from € 440 – 480 m (2019: € 446.4 m)
- “Unpartnered Group R&D” expenses of approx. € 45 m (2019: € 37.5 m)
- Adjusted Group EBITDA expected to be in the range of € 100 – 120 m (2019: € 123.1 m)
Detailed information and financial tables are available in our nine months quarterly statement published on the Evotec website under the following link: https://www.evotec.com/en/invest/financial-publications.
The Company is going to hold a conference call to discuss the results of the first nine months 2020 as well as to provide an update on its performance in the reporting period. The conference call will be held in English.
Conference call details
Date: Thursday, 12 November 2020
Time: 02.00 pm CET (08.00 am EST, 01.00 pm GMT)
From Germany: +49 69 20 17 44 220
From France: +33 170 709 502
From Italy: +39 023 600 6663
From UK: +44 20 3009 2470
From USA: +1 877 423 0830
Access Code: 69782681#
A simultaneous slide presentation for participants dialling in via phone is available at https://www.webcast-eqs.com/evotec20201112/no-audio.
To join the audio webcast and to access the presentation slides you will find a link on our homepage shortly before the event.
A replay of the conference call will be available for seven days and can be accessed from Germany by dialling +49 69 201744221, from UK by dialling +44 20 3364 5150 and from USA by dialling +1 (844) 307-9362.
The access code is 315597280#. The on-demand version of the webcast will be available on our website: https://www.evotec.com/financial-reports.