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Evotec SE — Investor Presentation 2012
Nov 8, 2012
151_ip_2012-11-08_172c9ac6-dff7-4ed7-91ee-d6690bb790bb.pdf
Investor Presentation
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Action Pla Gaining M an 2016 –Momentum
Forward-looking s statements
Information set forth in this presen forward-looking statements, which invo risks and uncertainties ncertainties. The forward forward-lo contained herein represent the judgemen the date of this presentation. Such statements are neither promises nor gua subject to a variety of risks and uncert which are beyond our control control, and wh ntation containsolve a number ofoking statements nt of Evotec as offorward-looking arantees, but are tainties, many of hich couldcause
actual results to differ materially from those contemplated in these forward-looking statements. We expressly disclaim an obligation or ndertaking to release p blicl any undertakingpublicly 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.
Welcome to Evoteec!
Your management team
Agenda
•Highlights Q3 2012
- • Action Plan 2016 – Innovation Efficiency
- EVT Execute
- EVT Integrate
- EVT Innovate
- • Financial performance & growth outlook
Action Plan 2016 –Gaining Momentum
Highlights Q3 2012
Group revenues +8% to €64.2 m, p positive operating result YTD and in Q3
EVT Execute:
- • Multi-year compound management agreement w with NIH, value of up to € 60 m
- Contract extension with CHDI; worth up to US\$ 4 • 41 m in research payments*
EVT Integrate: EVT Integrate:
- • Good progress in ongoing discovery alliances hig Boehringer Ingelheim and Novartis ghlighted by recent milestone achievements with
- • Five-year, multi-target collaboration with Bayer to o fight Endometriosis* (targets provided by Bayer)
EVT Innovate:
- • CureBeta, a collaboration between Evotec and H Janssen PharmaceuticalsHarvard University enters strategic alliance with
- • DiaPep277 completed patient recruitment in its P Phase III clinical trial in Diabetes Type 1
- • Roche starts Phase II clinical trial with EVT 302 i II trial in Alzheimers' disease
- • Strategic advisory agreement with Aspireo to part tner Somatoprim
- • Five-year, multi-target collaboration with Bayer to o fight Endometriosis* (targets provided by Evotec)
1
2
3
Strong Growth in R Revenue
Key figures overview – Sta atus first nine months 2012vs 2011
Agenda
- •Highlights Q3 2012
- • Action Plan 2016 – Innovation Efficiency
- EVT Execute
- EVT Integrate
- EVT Innovate
- • Financial performance & growth outlook
Innovation Efficienncy – a reminder
Action Plan 2016
Broad stand alonee execution business
Comprehensive Drug Disc covery Platform – "EVO Apps"
Highest quality ou utsourcing services
EVT Execute – Major mile estones and actions for H2
Major contract won w management 2 with NIH in compound
Three-year extension n of CHDI contract1
E i f EVT E Expansion of Ex strengthen risk share 4 xecut biliti te capabilities ed initiatives
"Faster to Decisioaligns incentives o ns" Integrate business model of both parties
Business model
Building an even s of upside opportun strong p erortfolio nities
EVT Integrate – Major mi ilestones and actions for H2
Expansion of portfoli target alliance (Bayer 1 io with strategic multi multir)
Further milestone acalliances, e.g. with Bo hievements in ongoing oehringer Ingelheim,
Novartis
Expansion of custom biotech, mid-sized an customersmer reach to even more nd large pharma
Integrated discove ery agreement with Bayer
Long-term potential from early assets and pain expertise
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A strategic pharma financial riskaportfolio without
EVT Innovate – clinical asssets
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f A d i l i t v s o r y e e s r o y a e s o n ; S i t o m a o p r m |
Driving value thro ugh commercial network
Aspireo agreement
| i A b h l l b t t t o e c o a o r a o n u |
D l t e a e r m s |
D l t e e o p m e n v |
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A d i f d s o r e e s s a n v y • i i i i i t t p a r c p a o n n e c o n o m c f S i t s c c e s s o o o m a o p r m u |
S i ( D G ) i 3 1 7 3 t o m a o p r m s a • l l i t t n e m o e c a r e n w u y i l t t t s o m a o s a n a n a o g e u U i i l l b i t t t- n q u e p o e n a y e s n • , l h l i l c a s s p a r m a c o o g c a , f i l p r o e P i b l i d i i i l d t o s s e n c a o n s n c e u • l i i d a c r o m e g a c a r c n o y , d C h i 's t m o r s a n s n g u u u , d i s e a s e S i i l i t t o m a o p r m s c u r r e n y y n • h I f l i i l p a s e o c n c a d l t e e o p m e n v |
Enhancing the sco portfolio op p e of the pharmaceutical
EVT Innovate and EVT Inntegrate - early assets
| I d i i t n c a o n |
P t a r n e r |
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N i l t t e m e s o n e x |
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B h i o e r n g e r i I l h n g e e m |
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f U € 2 3 i l i i i t 7 t t p o m m e s o n e s, s g n c a n l i t r o a e s y |
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f U € 2 4 i i l l i i i t 5 t t t p o m m m e e s s o o n n e e s s, s g n c a n l i t r o a e s y |
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rolledd over into Janssen deal
"Win – Win – Win" situation
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| S i i t t t a r n g p o n f i i t o r n n o v a o n f f i i d e c e n c y a n l t e x e r n a i i t n n o v a o n |
O i l l i l f d i l b i h i d t t t t t t t t t p m a r a n s a o n a s r a e g y o o r a c a e m a o r e a r y o e c e a s a s a r g e s g e • i d i l h d i f t t t m m e a e o n p p a r m a g g r a e n n r a s r c r e s y y u u f U i d l h i d i i i h P h t t t n q u e e a a p p r o a c n n g r a a c o n w a r m a • |
Agenda
- •Highlights Q3 2012
- • Action Plan 2016 – Innovation Efficiency
- EVT Execute
- EVT Integrate
- EVT Innovate
• Financial performance e &growth outlook
The momentum off H1 maintained into Q3
First 9 months 2012: Conddensed consolidated statement of operations (IFRS)
in € m
| Y d Q Q 3 2 0 1 2 t |
Y d Q 3 2 0 1 1 t |
% 2 0 1 1 s v |
|
|---|---|---|---|
| R e v e n u e s |
6 6 4 2 |
) 1 9 5 7 |
8 % |
| G i r o s s m a r g n |
3 6 6 4 % |
4 8 4 % |
|
| R & D e p e n s e s x • |
6 6 1 |
6 8 |
( ) 1 0 % |
| S G & A e p e n s e s x • |
1 2 3 |
1 1 5 |
7 % |
| A i i t t m o r s a o n • |
2 2 0 |
) 2 1 2 |
|
| f R l i i t e e r s a o m p a r m e n v • |
- | ) 3 ( ) 1 5 |
|
| O h ( i ) t t e r o p n c o m e e p e n s e s n e x • , |
0 0 2 |
1 4 |
|
| O i i t p e r a n g n c o m e |
2 2 9 |
9 5 |
( ) 0 % 7 |
| i N t e n c o m e |
7 7 5 |
9 2 |
( ) 1 8 % |
Strong Q3 2012 de CureBeta deal espite conservative recognision of
Q3 2012: Condensed cons olidated statement of operations (IFRS)
| Q 3 3 2 0 1 2 |
Q 3 2 0 1 1 |
% 2 0 1 1 v s |
|
|---|---|---|---|
| R e e n e s v u |
2 2 2 2 |
) 1 2 6 3 |
( ) 1 6 % |
| G i r o s s m a r g n |
3 8 9 % |
4 8 % 5 |
|
| R & D e p e n s e s x • |
2 2 |
2 1 |
2 % |
| S G & A e p e n s e s x • |
4 2 |
3 9 |
8 % |
| A i i t t m o r s a o n • |
0 8 |
0 6 |
|
| f R l i i t e v e r s a o m p a r m e n • |
- | ) 2 ( ) 1 5 |
|
| O h ( i ) t t e r o p n c o m e e p e n s e s n e x • |
( ( ) 0 1 |
0 7 |
|
| O i i t p e r a n g n c o m e |
5 1 |
8 6 |
( ) 8 2 % |
| N i t e n c o m e |
5 9 |
8 4 |
( ) 3 0 % |
Strong underlying g ygmargins revenue growth and solid gross g g
Revenues & gross margins s for the first nine months 2012
in € m
Strong operating a and net result
Results for the first nine mmonths 2012
Focused R&D investable SG&A expe estments for long-term growth, g g enses
First nine months 2012: RR&D and SG&A
in € m
On track to achievve guidance (> € 60 m at end 2012)
First 9 months 2012: Conddensed consolidated statements of cash flows (IFRS)
Liquidity in € m
| ) 1 2 0 1 1 |
) 1 2 0 1 2 |
||
|---|---|---|---|
| N h i d d b ( d i ) t e c a s p r o e s e n v y u |
C h i i l t t t a s g e n e r a e o p e r a n g r e s v u • |
||
| O i i i i t t t p e r a n g a c v e s • |
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f f b t o s e y : |
| i i i i I t t t n v e s n g a c v e s • |
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| f f E h d i t x c a n g e r a e e r e n c e |
0 0 2 |
0 6 |
, b o n s e s u |
| C h d h i l d f i d t t a s a n c a s e q a e n s a e n o p e r o u v |
2 6 6 3 |
5 5 3 |
|
| I t t + n e s m e n s v |
3 4 4 1 |
2 0 4 |
f C C I l d d i i i t n c c u u e e s s s s g g n c c a a n a a p p e e x • i f € 6 3 t t n v e s m e n s o m |
| L i i d i d f i d t t q u y a e n o p e r o = |
6 0 0 4 |
5 5 9 |
I l d i i t t n c e s n e s m e n n u v • |
| L i i d i b i i f i d t t q a e g n n n g o p e r o u y |
7 0 0 4 |
6 2 4 |
4 4 A A i i b b d d f € 2 2 0 0 t t n n o o o m m y y - |
| / N i d i l i i d i t t e n c r e a s e e c r e a s e n q u y |
1 0 0 0 - |
6 5 - |
M i i t t t o e m e n n n e s m e n s v v • |
Delay of Q4 milest tones drops profitability guidance
Guidance overview
| i € n m |
G i d u a n n c e O 2 0 1 2 t c |
G i d u a n c e M 2 0 1 2 a r |
F Y 2 0 1 1 |
|---|---|---|---|
| R e v e n u e s |
8 8 9 0 - |
8 8 9 0 - |
8 0 1 |
| ) 1 O A d j d i i t t u s e p e r a n g n c o m e |
L h 2 0 1 1 t e s s a n n |
I d m p r o e o e r v v 2 0 1 1 |
8 5 |
| I i i t t t n n o v a o n n v e s m e n s ( ) R & D E x p e n s e s |
A 1 0 p p r o x |
A 1 0 p p r o x |
8 4 |
| C i t t a p e x n v e s m e n s |
A 1 0 p p r o x |
M h 1 0 t o r e a n |
8 1 |
| L i i d i i d d t t q a p e r o e n u y |
A b 6 0 o v e |
A b 6 0 o e v |
6 2 4 |
Action Plan 2016 –Gaining Momentum
Outlook and next steps for r 2012 ff
Key milestones for 2012
| E V T E t 1 x e c u e |
D b l d i i h 2 0 1 2 2 0 1 6 t t o e g r e e n e g r o o u v u w • - E i f i i l l i t p a n s o n s c c e s s o e s n g a a n c e s x u x x • S f i i i l d l i h j h t t t g n c a n o n g e r m e a a s w m a o r p a r m a • - |
|---|---|
| E V T I t t 2 n e g r a e |
/ / A l i i f i i d d h l d d i l l i ( ( B ) ) 2 t t t t t t t t t e a s s g g n c c a a n n e n e g r a a e e e e c c n o o o o g g s s e e a a s s e e a a a n c c e e s s a a e e r w w y y y y • D l i i i f i d l d l i i l / l i i l i l t t t e e r s g n c a n a n a a c c e e r a e p r e -c n c a c n c a m e s o n e s v • S f h i l i i i i t t t o w o p e r a o n a s y n e r g g e s o r e c e n a c q u s o n s • ( ( ) ) E d f f i i l l l f f i A A i i b b d d i i t t t p a n o e r n g n o a r g g e r m o e c e s o e r n g e e g g n n o o e e s s x u • |
| E V T I t 3 n n o a e v |
A l i d l f l 1 t t t t t e a s s r a e g c e a o r e a r a s s e s y • C ( ( C ) i l i i i X t o m m e r c a s e n n o v a o o n e e g g u r e • , … P h I I I d i D i P d P h I I i h i A D d 2 7 7 t t t t t a s e a a n a e p p a n a s e s a r w n p r o u c • d l h i t t e v e o p m e n p a r n e r s p p |
Your contact:
Dr Mario Polywka Chief Operating Officer
+44 (0)1235.44 16 76 +44 (0)1235.86 31 39 Fax [email protected]