Change in income taxes entirely resulted from deferred tax adjustments.

Balance sheet and cash flow Intangible assets decreased by CHF 10m. This results mainly from the regular amortization in the amount of CHF 6.5m, additions from capitalized product and development costs in the amount of CHF 4.4m and translation effects amounting to CHF 8.1m in 2020. Evolva is reviewing, improving, and testing its commercial manufacturing processes with the aim to implement new processes that reduce manufacturing costs. In addition, new product blends are developed and tested for commercialization. Cash position decreased to CHF 19.7m at year-end 2020. The change over prior year results from CHF -23.4m operating cash flow, CHF -5.6m cash flow from investing activities and 8.9m cash flow from financing activities.

2021 Outlook As the pandemic continues, the guidance assumes there will not be a return to normal for most of the year. Evolva expects ongoing growing demand for Health Ingredients, but sluggish demand in Flavors and Fragrances. Supply volumes are expected to gradually increase in the course of 2021 as a result of the emphasis on overcoming manufacturing challenges - especially for resveratrol -, with a larger contribution to sales and profit in the second half of the year. The extraordinary costs related to delays in and scaling up manufacturing of resveratrol and L-arabinose are in total CHF 6.1m in 2021. Nevertheless, EBITDA is expected to somewhat improve over prior year levels.

Disclaimer This press release contains specific forward-looking statements, e.g. statements including terms like believe, assume, expect or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties readers should not place undue reliance on forward-looking statements. The company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments. ----------------------------------------------------------------------------------------------------------------------- End of ad hoc announcement ----------------------------------------------------------------------------------------------------------------------- 


Language:     English 
Company:      Evolva Holding SA 
              Duggingerstrasse 23 
              4153 Reinach 
              Switzerland 
Phone:        +41 61 485 20 00 
Internet:     www.evolva.com 
ISIN:         CH0021218067 
Valor:        2121806 
Listed:       SIX Swiss Exchange 
EQS News ID:  1170966 
 
End of Announcement EQS Group News Service 
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1170966 25-Feb-2021 CET/CEST

(END) Dow Jones Newswires

February 25, 2021 01:04 ET (06:04 GMT)