- STRONG OPERATIONAL PERFORMANCE LEADS TO SIGNIFICANT REVENUE GROWTH
- CO-OWNED PIPELINE GAINING MOMENTUM
- J.POD® REDMOND (US) OPERATIONAL
- SUCCESSFUL PUBLIC OFFERING AT NASDAQ (AFTER PERIOD-END)
- GUIDANCE FOR FULL-YEAR 2021 CONFIRMED
- WEBCAST AND CONFERENCE CALL TODAY AT 02.00 PM CET
Hamburg, Germany, 11 November 2021:
Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809; NASDAQ: EVO) today announced the financial results and corporate updates for the first nine months 2021.
STRONG REVENUES GROWTH IN ALL BUSINESS AREAS FUELS ONGOING EXPANSION AND STRENGTHENS POSITIVE DEVELOPMENT
- Group revenues increased by 20% to € 431.0 m (9M 2020: € 360.4 m); like-for-like base revenue growth (excluding portfolio and fx effects) up 26%
- Milestone revenues of € 27.9 m well above last year (9M 2020: € 8.4 m)
- Just – Evotec Biologics contributed € 34.7 m to revenues; 43% above last year’s level of € 24.3 m
- Strong progress in both segments: Total EVT Execute revenues up 17% to € 429.8 m (9M 2020: € 367.5 m); EVT Innovate revenues up 35% to € 101.9 m (9M 2020: € 75.7 m)
- Adjusted Group EBITDA of € 70.1 m (9M 2020: € 76.9 m) primarily driven by higher costs of sales ahead of production start of J.POD® Redmond (US), a deliberate increase in unpartnered R&D (up 28%), the overall growth of Evotec and effects from the US public offering; like-for-like growth (excluding portfolio and fx effects) would have reached 16%.
- Other non-operating result increased significantly to € 228.8 m (9M 2020: € (15.9) m) mainly due to fair value adjustments of the equity participation in Exscientia Ltd.
DATA-DRIVEN AUTOBAHN TO CURES: STRONG PROGRESS IN ALL LANES
- Several new and extended drug discovery and development agreements in all areas
- Just – Evotec Biologics opened J.POD® Redmond (US); start operations on track; project initiation of J.POD® Toulouse (France) in 2021
- Positive Phase IIb results in refractory chronic cough for eliapixant reported by partner Bayer
- Excellent progress in iPSC and protein degradation collaborations with Bristol Myers Squibb ("BMS"); Opt-in for EVT8683 to enter clinical development
- Kazia Therapeutics Limited has commenced enrolment to a Phase I clinical trial of EVT801, an investigational cancer therapy (after period-end)
- Successful NASDAQ IPO of EVOequity portfolio company and partner Exscientia Ltd (after period-end); Series B extension by Evotec’s first spin-off Topas Therapeutics
- Closing of public offering at NASDAQ on 08 November 2021, with notice from underwriters on 05 November 2021 of their intention to partially exercise their option to purchase additional ADSs (after period-end)
CONFIRMATION OF BUSINESS OUTLOOK FOR FULL-YEAR 2021 AND MID-TERM TARGETS 2025
- Group revenues expected to be in a range of € 550 – 570 m (€ 565 – 585 m at constant exchange rates) (2020: € 500.9 m)
- Adjusted Group EBITDA expected to be in the range of € 105 – 120 m (€ 115 – 130 m at constant exchange rates) (2020: € 106.6 m)
- Unpartnered research and development expenses expected to be in a range of € 50 - 60 m (2020: € 46.4 m)
- Mid-term goals target revenue growth to > € 1,000 m, adjusted EBITDA of ≥ € 300 m and unpartnered research and development expenses of > € 100 m by 2025
Given current global insecurities surrounding the COVID-19 pandemic, a likely negative impact – though less pronounced than in 2020 – is already estimated within the guidance for revenues and adjusted EBITDA stated above.
More detailed information and financial tables are available in our nine-month report published on the Evotec website under the following link:
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. The conference call will be held in English.
Conference call details
Date: Thursday, 11 November 2021
Time: 02.00 pm CET (08.00 am ET, 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 Switzerland: +41 445 806 522
From UK: +44 20 3009 2470
From USA: +1 877 423 0830
Access Code: 82123163#
A simultaneous slide presentation for participants dialling in via phone is available at https://www.webcast-eqs.com/evotec20211111/no-audio.
To join the audio webcast and to access the presentation slides you will find a link on our homepage http://www.evotec.com 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 315614529#. The on-demand version of the webcast will be available on our website: https://www.evotec.com/en/investor-relations/publications and under the direct link https://www.webcast-eqs.com/evotec20211111.