PRESS RELEASE : EVOTEC SE REPORTS FIRST HALF-YEAR 2021 RESULTS AND CORPORATE UPDATES

DGAP-News: Evotec SE / Key word(s): Half Year Results 
EVOTEC SE REPORTS FIRST HALF-YEAR 2021 RESULTS AND CORPORATE UPDATES 
2021-08-11 / 06:59 
The issuer is solely responsible for the content of this announcement. 
----------------------------------------------------------------------------------------------------------------------- 
 
  . STRONG OVERALL PERFORMANCE IN THE FIRST HALF OF 2021 GAINING SPEED 
  . RAPID CAPACITY BUILD-UP TO FOSTER UNDISRUPTED GROWTH AND FUTURE MARGIN EXPANSION 
  . REGISTRATION STATEMENT FOR PROPOSED OFFERING OF AMERICAN DEPOSITARY SHARES SUBMITTED 
  . GUIDANCE FOR FULL-YEAR 2021 CONFIRMED 
  . WEBCAST AND CONFERENCE CALL TODAY AT 02.00 PM CEST 
Hamburg, Germany, 11 August 2021: 
Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, ISIN: DE0005664809) today announced its financial results for 
the first half-year of 2021. 
HIGHLIGHTS 
ACCELERATED INVESTMENTS FOR FURTHER GROWTH AND CAPACITY EXPANSION 
  . Group revenues up 17% to ? 271.3 m (H1 2020: ? 231.0 m), adjusted for portfolio and fx growth by 27%. 
  . EVT Execute revenues up 18% to ? 279.5 m (H1 2020: ? 236.8 m, restated for material recharges) 
  . EVT Innovate revenues up 27% to ? 57.3 m (H1 2020: ? 45.3 m, restated for material recharges) 
  . Higher year-on-year milestone revenues of ? 4.1 m (H1 2020: ? 2.2 m), important milestones imminent 
  . Just - Evotec Biologics added revenues of ? 23.0 m (H1 2020: ? 16.3 m), an increase of 41% 
  . Adjusted EBITDA of ? 36.2 m (H1 2020: ? 47.3 m) affected by planned capacity build-up ahead of imminent production 
    start of J.POD^(R) 1 US; increased R&D and SG&A expenses (? 35.4 m and ? 46.4 m) as expected. Adjusted for fx and 
    Sanofi effects, growth of adjusted Group EBITDA would have reached 13% 
  . Increase of expenses for unpartnered R&D by 29% to ? 27.8 m (H1 2020: ? 21.6 m) according to strategy 
  . Strong balance sheet as comfortable basis for further growth 
PICKING UP SPEED ON THE "DATA-DRIVEN R&D AUTOBAHN TO CURES": NEW AND EXTENDED PARTNERSHIPS; GRAND OPENING OF J.POD^(R) 
1 US 
  . Multiple new and extended partnerships (e.g. with Abivax, Awakn, 1^ST Biotherapeutics, Interline, Related Sciences, 
    Takeda, The Mark Foundation, ...) 
  . Just - Evotec Biologics continuing successful progress: opening of J.POD^(R) 1 US for biologics development and 
    cGMP manufacturing facility on 18 August 2021; construction start of J.POD^(R) 2 EU expected for H2 2021 
  . Bristol Myers Squibb partnership extension in protein degradation ahead of term, additionally, a new protein 
    degradation collaboration in an undisclosed therapeutic area signed 
  . Partnership on oncology project EVT801 with Kazia Therapeutics 
  . New BRIDGEs ("Danube Labs", "beLAB2122" and "beLAB1407") 
  . Launch of "PRROTECT", an Evotec initiative for pandemic preparedness 
  . Positive results from Bayer's Phase IIb clinical trial with eliapixant (BAY1817080) for the treatment of refractory 
    chronic cough (after period-end) 
CORPORATE 
  . Implementation of next long-term strategic framework Action Plan 2025 "The data-driven R&D Autobahn to Cures" 
  . Acquisition of the Verona site from GlaxoSmithKline SpA and renaming of the expanded Evotec Verona site in "Campus 
    Levi-Montalcini" 
  . Annual General Meeting 2021: Approval of all proposed agenda items; new authorized capital 2021 for future 
    flexibility and further growth of the Company resolved 
  . Submission of registration statement for proposed offering of American Depositary Shares ("ADS") in the U.S. (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 
FINANCIAL HIGHLIGHTS 
Key figures of unaudited consolidated income statement & segment information> 
Evotec SE & subsidiaries - First half-year 2021 
                                       EVT         EVT                           Evotec Group Evotec Group 
In T?                           Execute^4) Innovate^5) Intersegment Eliminations      H1 2021      H1 2020 
External revenues^1)               213,998      57,304                         -      271,302      230,989 
Intersegment revenues               65,543           -                  (65,543)            -            - 
Costs of revenue                 (226,540)    (47,965)                    59,505    (215,000)    (177,924) 
Gross profit                        53,001       9,339                   (6,038)       56,302       53,065 
Gross margin in %                    19.0%       16.3%                         -        20.8%        23.0% 
 
R&D expenses^2)                      (986)    (40,486)                     6,038     (35,434)     (29,796) 
SG&A expenses                     (37,171)     (9,212)                         -     (46,383)     (36,532) 
Impairment of intangible assets          -       (683)                         -        (683)            - 
Other operating                     11,367      23,146                         - 
income (expenses), net                                                                 34,513       32,180 
Operating result                    26,211    (17,896)                         -        8,315       18,917 
 
Adjusted EBITDA^3)                  51,886    (15,698)                         -       36,188       47,268 

^1) Adjusted for negative exchange rate effects of ? 11.5 m, Group revenues amount to ? 282.8 m ^2) Of which unpartnered R&D expenses of ? 27.8 m in H1 2021 (H1 2020: ? 21.6 m) ^3) Before changes in contingent considerations, income from bargain purchase and excluding impairments on goodwill, other intangible and tangible assets as well as the total non-operating result ^4) Revenues from material recharges of ? 14.8 m are allocated to EVT Execute as of H1 2021 ^5) Revenues from material recharges of ? 0.7 m are allocated to EVT Innovate as of H1 2021 More detailed information and financial tables are available in our half-year report published on the Evotec website under the following link: https://www.evotec.com/en/invest/financial-publications 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: Wednesday, 11 August 2021 Time: 02.00 pm CEST (08.00 am EST, 01.00 pm GMT) From Germany: [phone] From France: [phone] From Italy: [phone] From UK: [phone] From USA: [phone] Access Code: 67644285#

A simultaneous slide presentation for participants dialling in via phone is available at https://www.webcast-eqs.com /evotec20210811/no-audio. Webcast details 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.

A replay of the conference call will be available for seven days and can be accessed from Germany by dialling [phone], from UK by dialling [phone] and from USA by dialling [phone].

The access code is 315614525#. The on-demand version of the webcast will be available on our website: https:// www.evotec.com/financial-reports.

ABOUT EVOTEC SE Evotec is a life science company with a unique business model that delivers on its mission to discover and develop highly effective therapeutics and make them available to the patients. The Company's multimodality platform comprises a unique combination of innovative technologies, data and science for the discovery, development, and production of first-in-class and best-in-class pharmaceutical products. Evotec leverages this "Data-driven R&D Autobahn to Cures" for proprietary projects and within a network of partners including all Top 20 Pharma and over 800 biotechnology companies, academic institutions, as well as other healthcare stakeholders. Evotec has strategic activities in a broad range of currently underserved therapeutic areas, including e.g. neurology, oncology, as well as metabolic and infectious diseases. Within these areas of expertise, Evotec aims to create the world-leading co-owned pipeline for innovative therapeutics and has to-date established a portfolio of more than 200 proprietary and co-owned R&D projects from early discovery to clinical development. Evotec operates globally with more than 3,900 highly qualified people. The Company's 14 sites offer highly synergistic technologies and services and operate as complementary clusters of excellence. For additional information please go to www.evotec.com and follow us on Twitter @Evotec and LinkedIn.

FORWARD-LOOKING STATEMENTS This announcement contains forward-looking statements concerning future events, including the proposed offering and listing of Evotec's securities. Words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "should," "target," "would" and variations of such words and similar expressions are intended to identify forward-looking statements. Such statements include comments regarding completion of the offering. These forward-looking statements are based on the information available to, and the expectations and assumptions deemed reasonable by Evotec at the time these statements were made. No assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of Evotec. Evotec expressly disclaims any obligations or undertaking

(MORE TO FOLLOW) Dow Jones Newswires

August 11, 2021 00:59 ET (04:59 GMT)