Evotec AG Increases Its Revenue Guidance For 2015
News Sep 15, 2015
Evotec AG has 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.”
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.
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