Evotec 9-month Revenue Rises; Backs FY22 View

Evotec AG(EVTCY.PK,EVOTF.PK), a German drug maker, on Wednesday posted a net operating loss for the first nine-month period, particularly reflecting the non-cash fair value adjustments of the equity investment in Exscientia Plc, higher expenses and costs. However, the company registered a rise in revenue.

In addition, the Hamburg-headquartered company reaffirmed its guidance for the full-year.

For 9 months, the drug maker reported a net operating loss of 16.836 million euros, compared with a profit of 26.053 million euros a year ago. Adjusted EBITDA moved down to 44.600 million euros from last year's 70.086 million euros.

Cost of revenues was at 419.150 million euros as against 331.494 million euros of previous year period.

Research and development expenses were at 55.321 million euros, versus 53.472 million euros, posted for the same period of 2021. SG&A expenses climbed to 109.858 million euros, compared with 71.037 million euros of previous fiscal.

Evotec generated revenue of 510.759 million euros, higher than previous year's 430.963 million euros.

Looking ahead, for the fiscal 2022, the company still projects its revenues to be in a range of 715 million euros to 735 million euros or 690 million euros to 710 million euros at constant exchange rates.

The Group also expects its adjusted EBITDA to be in the range of 105 million euros-120 million euros.

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