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MarketScreener Homepage  >  Equities  >  Xetra  >  Evotec SE    EVT   DE0005664809

EVOTEC SE

(EVT)
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Evotec : places first Schuldschein worth EUR 250 m

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06/27/2019 | 07:46am EDT

Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809) announced today that the Company successfully issued a Schuldschein (promissory note) of EUR 250 m on the capital market.

The Schuldschein was placed with a fixed and variable interest rate of on average below 1.5 percent over 3, 5, 7, and 10 years maturity. Following high demand from debt investors, which led to a significant oversubscription of the order book and attractive credit spreads, the initial target volume of EUR 100 m could be successfully increased to EUR 250 m.

Evotec intends to use the proceeds of this Schuldschein to strengthen its corporate financing structure as well as to finance the recent Just.Bio acquisition, the expansion of its business and to re-finance certain loans at more attractive terms.

Lead arrangers of this debt transaction, which represents Evotec's first promissory note in Company history, were Deutsche Bank AG and Landesbank Baden-Wurttemberg ('LBBW'). The loan was placed with a range of institutional investors in the banking and insurance sector, primarily international private banks, savings banks, regional banks (Landesbanken) and cooperative banks based in Germany.

Enno Spillner, Chief Financial Officer of Evotec, commented: 'Being a fast-growing, profitable biotech company, we're very excited to be able to apply a different method of financing at such low cost of capital. In this case we utilised our solid balance sheet to leverage debt in a conservative manner while avoiding equity dilution which is common for our branch, to support the further sustainable development of our Company. This successful debut issue of a Schuldschein at very attractive terms confirms the trust and confidence investors place in our business model and we're determined to continue our profitable growth path of prior years.'

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.

Contact:

Tel: +49 (0)40.560 81-255

Fax: +49 (0)40.560 81-333

Email: gabriele.hansen@evotec.com

Web: www.evotec.com

(C) 2019 Electronic News Publishing, source ENP Newswire

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Financials (EUR)
Sales 2019 420 M
EBIT 2019 63,0 M
Net income 2019 47,9 M
Finance 2019 36,2 M
Yield 2019 -
P/E ratio 2019 59,2x
P/E ratio 2020 44,8x
EV / Sales2019 6,65x
EV / Sales2020 5,60x
Capitalization 2 832 M
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 27,60  €
Last Close Price 18,98  €
Spread / Highest target 73,9%
Spread / Average Target 45,5%
Spread / Lowest Target 21,2%
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NameTitle
Werner Lanthaler Chief Executive Officer
Wolfgang Plischke Chairman-Supervisory Board
Craig L. Johnstone Chief Operating Officer & Member-Management Board
Enno Spillner Chief Financial Officer
Cord E. Dohrmann Chief Scientific Officer
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