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Evotec Posts Stable Adj. EBITDA For Q1, Backs FY View

Evotec SE (EVTCY.PK,EVOTF.PK), a German drug discovery and development company, Thursday posted a stable adjusted EBITDA for the first quarter and said it is confirming its business outlook for the full year, taking into account currently visible
negative COVID-19 effects.

For the first quarter, the Group's adjusted EBITDA stood at 30.0 million euros, with adjusted EBITDA for EVT Execute totaling 35.4 million euros compared to 32.2 million euros last year.

Evotec's group revenues from contracts with customers rose 15 percent to 119.4 million euros from 103.8 million euros.

Segment wise, EVT Execute revenues were up 18 percent to 118.2 million euros, while EVT Innovate revenues rose 24 percent to 23.3 million euros.

Looking ahead to the full year 2020, the Group said it continues to expect adjusted Group EBITDA in the range of 100 million - 120 million euros, on total group revenues of 440 million - 480 million euros.

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