HAMBURG, Germany, March 26, 2013 (GLOBE NEWSWIRE) -- Evotec AG (Frankfurt:EVT) (TecDAX) (ISIN:DE0005664809) today reported financial results and corporate updates for the fiscal year ended 31 December 2012.
- Growth trend continues
- Revenues +9% to € 87.3 m - Operating result adjusted € 1.4 m; net income € 2.5 m - Operating cash flow +18% to € 12.0 m - Strong and stable liquidity position of € 64.2 m - Expected revenues of € 90 m to € 100 m in 2013
- Strong progress in all business units (EVT Execute /Integrate/Innovate) achieved
- Multiple new alliances and contract extensions (e.g. Bayer, CHDI and NIH) - Acceleration of EVT Innovate strategy through alliances with Harvard and Yale - Multiple milestones achieved with e.g. Andromeda/Teva, Boehringer Ingelheim, MedImmune, Novartis and Ono - Strategic alliance with 4-Antibody - Acquisition of CCS Cell Culture Service GmbH (after period-end)
- Significant short- and mid-term pipeline catalysts
- DiaPep277 ®, positive Phase III results confirmed, data of second pivotal trial to come end of 2014 - Large Phase IIb trial started with EVT302 in Alzheimer`s Disease - Multiple clinical trials expected to start and read out in 2013/2014 (e.g. Phase II with EVT100 series in depression, several Phase I programmes in oncology, pain and other indications)1. Operational performance – Good revenue growth, Milestones drive profitability Revenue growth of 9%, operating result, R&D investments and liquidity in line with adjusted guidance Evotec achieved continued profitable growth in 2012 with revenues up 9% to € 87.3 m (2011: € 80.1 m) and a net income of € 2.5 m (2011: € 6.7 m). The shift in revenues from milestones from Q4 2012 into 2013 had a negative effect on profitability, which as a result was lower than originally guided. Growth in revenues was driven by the increase in revenues within the Company's drug discovery alliances and significant milestone payments through its collaborations in the amount of € 12.3 m (2011: € 10.5 m).