Evotec SE: Increase of profitability guidance for financial year 2019
Evotec SE / Key word(s): Change in Forecast
Based on the preliminary unaudited consolidated results for the financial year 2019, the Company now expects an increase of the adjusted Group EBITDA* by more than 25% (previously: improve by approx. 15%) for 2019 compared to previous year (2018: € 92.0 m). The positive adjustment of the guidance is primarily due to a strong operating performance in the fourth quarter of 2019 and unexpectedly high milestone revenues from long-term partnerships such as those with Celgene, Bayer and Sanofi in December 2019, which in particular needed to be clarified in terms of revenue recognition and the corresponding allocation to the 2019 or 2020 financial year.
All other elements of the Company's financial guidance are confirmed.
*(EBITDA excludes contingent considerations, income from bargain purchase and excl. impairments on goodwill, other intangible and tangible assets as well as the total non-operating result)
Information and Explanation of the Issuer to this News:
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