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Evotec Lifts FY19 Adj. EBITDA Outlook

Evotec SE (EVTCY.PK,EVOTF.PK) said it raised adjusted Group EBITDA outlook for fiscal year 2019, primarily due to a strong operating performance in the fourth quarter of 2019 and high milestone revenues from long-term partnerships such as those with Celgene, Bayer and Sanofi in December 2019.

Looking ahead for the financial year 2019, the company now expects an increase of the adjusted Group EBITDA by more than 25% compared to 92.0 million euros reported in 2018. Earlier, the company had expected an increase of the adjusted Group EBITDA by about 15% in 2019.

The company confirmed all other elements of its financial guidance.

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