Evotec Slips To Loss In Q3, Revenues Rise; Lifts FY22 Revenue View, Backs Adj. EBITDA Forecast

Evotec AG (EVTCY.PK), a German drug discovery and development company, reported Thursday that its third-quarter net loss attributable to shareholders was 27.94 million euros, compared to last year's profit of 60.02 million euros.

Loss per share was 0.16 euro, compared to profit of 0.37 euro a year ago.

Net operating loss for the quarter was 3.77 million euros, compared to profit of 1.54 million euros a year ago.

Group revenues increased to 172.20 million euros from 138.22 million euros in the prior year.

Looking ahead for fiscal 2022, the company now expects Group revenues to be in a range of 715 million euros to 735 million euros, compared to previously expected 700 million euros to 720 million euros. Last year's revenues were 618 million euros.

Further, adjusted Group EBITDA is still expected to be in the range of 105 million euros to 120 million euros, compared to last year's 107 million euros.

The mid-term goals target revenue growth to more than 1 billion euros, and adjusted EBITDA of at least 300 million euros.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration said it now intends to review only a small subset of new emergency use authorization or EUA requests for diagnostic tests. As per an updated COVID-19 test policy with a view to ensure continued access to tests, the regulator further urged developers of all test types seeking marketing authorization to pursue traditional premarket review for most test types. Netflix, Inc. said it is adding a new feature to offer a more personalized mobile games experience on the platform. In a statement, Sophia Yang, Product Manager, Mobile Games, said the company is rolling out the ability to create game handles, with which members will be able to create a unique public username. This can be used across all Netflix games. General Motors Co. has delayed its plan to require employees to return to office many days a week until next year, reports said citing an internal memo signed by CEO Mary Barra. Last week, the company had announced that corporate workers would be required to return to respective offices at least three days a week, beginning later this year, as the COVID-19 pandemic eases.
Follow RTT