The gross margin of the Group decreased to 35.6% (2011: 43.7%). The margin difference compared to 2011 is mainly attributable to a decrease in upfront payments, the ramp-up of capacities in EVT Execute, lower margin compound management revenues and the move into the new Manfred Eigen Campus at the start of 2012.Evotec's operating result for 2012 amounted to € (3.2) m (2011: € 5.2 m), which primarily was due to a lower gross profit and an impairment of intangible assets in the amount of € 3.5 m (2011: € 0.6 m net of reversal of impairment). The impairment was mainly the result of the termination of the VR1 partnership with Pfizer. The operating result before impairment and changes in contingent consideration was positive at € 1.4 m (2011: € 5.8 m). Net income amounted to € 2.5 m (2011: € 6.7 m). The improvement in the net income primarily resulted from deferred tax income amounting to € 8.3 m (2011: € 2.5 m).
Forward Step By Step With Action Plan 2016 - Continued Revenue Growth - Significant Pipeline Progress
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