Evotec SE — Earnings Release 2001

Aug 21, 2001

News Details

Ad-hoc | 21 August 2001 08:43

EVOTEC BioSystems AG english

Ad hoc announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Second Quarter 2001: Evotec OAI Makes Further Good Progress August 21, 2001 – EVOTEC BioSystems AG (Evotec OAI, NM: EVT) achieved revenues of EUR 26.3 million in the first half of 2001, an increase of 311% over 2000. which can be attributed to the acquisition of the chemistry business late in 2000 and good growth in biology services. The Drug Discovery Service division achieved revenues of EUR 22.9 million (previous year: EUR 0.5 million). On a pro-forma basis, growth of EUR 2.1 million over last year is primarily attributable to growth in biology services (EUR 2.6m, +189%), Chemistry services revenues amounted to EUR 20,3 million, slightly above previous year (EUR 19.9 million). In our Drug Discovery Tools and Technology division we achieved sales of EUR 3.4 million. As expected, revenues were EUR 2.4 million below the previous year as last year saw above average revenues from the delivery of two Mark II screening systems. Several contracts new or expanded. In April 2001 Evotec OAI won a one-year contract to supply chemical compound libraries to Roche. An indication of our customer satisfaction is the number of current contracts that we were again able to extend or substantially expand in the first half of 2001, These customers include Phannada, Pfizer and Curis. Results in line with expectations. Excluding non-cash effects (primarily goodwill amortisation from acquisitions) group loss from operations amounted to EUR (9.1) million compared to EUR (8.4) million in the respective period of 2000. This is in line with our expectations. It is primarily a consequence of higher R&D investments in the current year, an activity which we consciously supported to expand our product offering. Including non-cash effects, the operating loss was EUR (77,7) million. Excluding the non-cash effects, net loss amounted to EUR (9.0) million. EBITDA and EBITDA per share Improved. Earnings before interest and taxes, depreciation and amortisation (EBITDA) were EUR (4.3) million compared to EUR (7.1) million in the previous year. EBITDA per share improved to EUR (0.12) from EUR (0.29) in 2000. Healthy cash position. We continue to have a very healthy cash position of EUR 35.6 million (cash and investment securities). Our cash burn related to operations was EUR 1.4 million per month in the first six months. Outlook. Today we have an order book which already accounts for 84% of budgeted 2001 revenues and extends well into 2002. Production in our new pilot plant commenced in July 2001 and will contribute positively to sates growth in development chemistry in the second half of 2001. On the basis of a very healthy cash position we have the resources to continue our R&D programs to achieve our ambitious corporate objectives: to expand and integrate our service offering to become the true leader in “research collaborations from a pharmaceutical target to IND filing”. Anne Hennecke, Investor Relations Phone: 0049-40-56081286 E-mail: anne.hennecke@evotecoai.com end of ad hoc announcement (c) DGAP 21.08.2001 ——————————————————————————– WKN: 566480; Index: NEMAX-50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 210843 Aug 01