Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809) today reported financial results and corporate updates for the first quarter of 2019.
STRONG FINANCIAL PERFORMANCE
Group revenues up 27% to EUR 103.8 m (Q1 2018: EUR 81.6 m)
Adjusted Group EBITDA up 114% to EUR 30.0 m (Q1 2018: EUR 14.0 m)
Unpartnered R&D expenses of EUR 8.1 m (Q1 2018: EUR 4.6 m)
Strong strategic liquidity position of EUR 141.6 m despite full repayment of bridge loan facility (total volume: EUR 140 m) drawn in August 2017 in context of Aptuit acquisition (last tranche after period-end)
EXCELLENT OPERATIONAL AND SCIENTIFIC PROGRESS
Multiple new and extended drug discovery and development agreements
Good progress with co-owned, clinical pipeline; multiple important milestone achievements
Consolidation of Basel activities into Toulouse site with transfer of projects to increase overall efficiency of high-throughput screening operations
New licence agreement with Galapagos in fibrosis
Anti-infective research alliances with Helmholtz (HZI) and GARDP
Agreement with The Mark Foundation in immuno-oncology based on Evotec's discovery platform TargetAlloMod
Participation in further financing rounds of Eternygen and Exscientia
Strategic collaboration on precision medicine for colorectal cancer with Indivumed (after period-end)
The 2018 and 2019 results are not fully comparable. The difference stems from the acquisition of Evotec ID (Lyon) SAS, effective 01 July 2018. The results from Evotec ID (Lyon) SAS are only included from 01 July 2018 onwards. The accounting policies used to prepare this interim information are the same as those used to prepare the audited consolidated financial statements for the year ended 31 December 2018, except for the adoption of IFRS 16 as of 01 January 2019. From 01 January 2019 onwards, Evotec applies IFRS 16.
FORWARD LOOKING STATEMENTS
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 press release. 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.
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