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.

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