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Evotec 2019 Adj. Group EBITDA Increases

Evotec SE (EVTCY.PK,EVOTF.PK) reported that its adjusted Group EBITDA for 2019 increased by 29% to 123.1 million euros from the previous year.

Operating result was 62.6 million euros compared to 77.5 million euros in 2018. A year-on-year comparison is not meaningful, as the 2018 result was significantly positively affected by a one-off impact from the bargain purchase ID Lyon, the company said.

The higher gross profit in 2019 was off-set by the significantly increased investments in R&D and the impairment of the intangible asset SGM-1019 and the related goodwill.

Net result for the year was 37.2 million euros compared to 84.1 million euros in the prior year.

Annual revenues increased by 19% to 446.4 million euros from last year, due to the growth performance in the base business, higher milestone payments and a positive contribution from acquired business of Just - Evotec Biologics.

For the financial year 2020, the company expects total group revenues to be in a range of 440 million euros - 480 million euros. The anticipated revenue growth is based on visibility of the current order book, expected new contracts, contract extensions and milestone opportunities. Projections are based on constant 2019 exchange rates.

The company anticipates adjusted Group EBITDA to be in the range of 100 million euros - 120 million euros.

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