HAMBURG, Germany, Sept. 15, 2015 (GLOBE NEWSWIRE) -- Evotec AG (Frankfurt Stock Exchange:EVT) (TecDAX) (ISIN:DE0005664809) today announced that it increases its financial guidance for the current year. The Company now expects Group revenues excluding milestones, upfronts and licences to increase by approx. 45% (previously: more than 35%) compared to last year (2014: € 73.4 m) mainly as a result of Evotec’s strong business performance of EVT Execute, accelerated growth in the EVT Innovate business and a positive outlook for the remainder of the year.
Dr Werner Lanthaler, Chief Executive Officer of Evotec, commented: “We’re delighted that our No. 1 drug discovery services continue to attract new customers while satisfying the needs of our existing customers. Both segments are performing very well at this stage.”
All other elements of the Company’s financial guidance as of 12 May 2015 are confirmed.
Evotec’s Group EBITDA before changes in contingent considerations is expected to be positive.
Evotec expects research and development (R&D) expenses to grow to € 15 m – € 20 m in 2015.
Evotec will continue to invest in its technology platforms and capacities in order to drive its long-term growth strategy. It is therefore planned that up to € 10 m will be invested in further capacity increases and the upgrade of Evotec’s technological capabilities.
Liquidity is expected to be well in excess of € 100 m at 31 December 2015. This forecast excludes any potential cash outflow from M&A or similar transactions.
ABOUT EVOTEC AG
Evotec is a drug discovery alliance and development partnership company focused on rapidly progressing innovative product approaches with leading pharmaceutical and biotechnology companies, academics, patient advocacy groups and venture capitalists. We operate worldwide providing the highest quality stand-alone and integrated drug discovery solutions, covering all activities from target-to-clinic. The Company has established a unique position by assembling top-class scientific experts and integrating state-of-the-art technologies as well as substantial experience and expertise in key therapeutic areas including neuroscience, pain, metabolic diseases as well as oncology, inflammation and infectious diseases. Evotec has long-term discovery alliances with partners including Bayer, Boehringer Ingelheim, CHDI, Genentech, Janssen Pharmaceuticals, MedImmune/AstraZeneca, Roche and UCB. In addition, the Company has existing development partnerships and product candidates both in clinical and pre-clinical development. These include partnerships with Boehringer Ingelheim and MedImmune in the field of diabetes, with Janssen Pharmaceuticals in the field of depression and with Roche in the field of Alzheimer’s disease. For additional information please go to www.evotec.com.
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. Such forward-looking statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. 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.