- STRONG PERFORMANCE LEADS TO SIGNIFICANT REVENUE GROWTH
- STRONG MOMENTUM IN ALL BUSINESS AREAS
- NEW PARTNERSHIPS BASED ON DATA-DRIVEN PRECISION MEDICINE PLATFORMS
- GUIDANCE FOR FULL-YEAR 2022 CONFIRMED
Hamburg, Germany, 11 May 2022:
Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809; NASDAQ: EVO) today announced the financial results and corporate updates for the first quarter 2022.
STRONG REVENUE GROWTH IN ALL BUSINESS AREAS FUELLED BY ONGOING EXPANSION AND STRENGTHENS POSITIVE DEVELOPMENT
- Group revenues increased by 24% to € 164.7 m (Q1 2021: € 133.1 m); like-for-like base revenue growth (excluding fx effects) up 19%
- Revenues from milestones, upfronts and licenses of € 4.5 m above last year (Q1 2021: € 4.4 m)
- Strong progress in both segments: Total EVT Execute revenues up 27% to € 174.5 m (Q1 2021: € 136.9 m); EVT Innovate revenues also up 27% to € 35.9 m (Q1 2021: € 28.2 m)
- Adjusted Group EBITDA of € 18.9 m (Q1 2021: € 21.1 m) primarily driven by capacity expansions at all sites, in particular the continued ramp-up of our J.POD® Redmond (US) facility, an increase in unpartnered R&D (up 12%), partially offset by positive currency effects
- Other non-operating result of € (69.2) m (Q1 2021: € 47.7 m) affected from a non-cash fair value adjustments of the equity participation in public listed Exscientia plc.
SETTING THE PACE WITH PRECISION MEDICINE PLATFORMS
- New data-driven drug discovery collaboration with Eli Lilly and Company (“Lilly”) in metabolic diseases
- Drug discovery partnership with Boehringer Ingelheim in ophthalmology based on induced pluripotent stem cells (“iPSCs”)
- Launch of Evotec’s translational molecular patient database E.MPD, one of the largest and highest quality molecular databases globally
- Further strong progress in neuroscience and oncology collaboration with Bristol Myers Squibb (“BMS”)
- Strong growth momentum in all areas e.g., new INDiGO agreements, CMC, screening and sample management alliances as well as several new integrated drug discovery & development alliances
- Grant from BMBF to support clinical development of EVT075 in viral indications
- Bayer initiated Phase II of bradykinin receptor B1 BAY 2395840 in diabetic neuropathic pain but also terminated further development of P2X3 antagonist eliapixant
- Expansion of licensing agreement with JingXin for EVT201, submission of regulatory approval in China through JingXin (after period-end)
- Successful expansion of the EVOequity portfolio with new equity stakes in several highly promising companies (e.g., Tubulis; after period-end)
- Dr Matthias Evers joins Evotec as Chief Business Officer (after period-end)
BUSINESS OUTLOOK FOR FULL-YEAR 2022 AND MID-TERM TARGETS 2025 CONFIRMED
- Group revenues expected to be in a range of € 700 – 720 m (€ 690 – 710 m at constant exchange rates) (2021: € 618 m)
- Adjusted Group EBITDA expected to be in the range of € 105 – 120 m (€ 95 – 110 m at constant exchange rates) (2021: € 107 m)
- Unpartnered research and development expenses expected to be in a range of € 70 - 80 m (2021: € 58 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
The forecast takes in account – as far as possible – the current global uncertainties related to the COVID-19 pandemic and the Russian invasion of Ukraine.
Conference call details
Date: Wednesday, 11 May 2022
Time: 02.00 pm CEST (08.00 am EDT, 01.00 pm BST)
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: 53333776#
A simultaneous slide presentation for participants dialling in via phone is available at https://www.webcast-eqs.com/evotec20220511/no-audio.
To join the audio webcast and to access the presentation slides you will find a link on our homepage www.evotec.com shortly before the event.
The on-demand version of the webcast will be available on our website: https://www.evotec.com/en/investor-relations/publications.