Evolva business update: On track to reach 2022 guidance
Evolva Holding SA / Key word(s): Miscellaneous
PRESS RELEASE | AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR
Reinach, May 19, 2022 – Evolva (SIX:EVE), a pioneer in the field of natural molecules and industrial biotech, today provides a business update as the new CEO Christian Wichert has completed his first 100 days. After a slow start into the year, business momentum has picked up. The multiple initiatives which the new leadership team has initated are already showing first fruits. Consequently, the company is confident to reach its targeted sales growth of 50% in 2022 and a positive, double digit contribution margin.
As communicated with the FY21 results on March 10, 2022, the immediate focus is on three levers:
1) Boost Commercial Performance: The recently announced distribution agreement with Tovani for Veri-teTM Resveratrol in Brazil as well as the significant revenues which Evolva has been able to secure for the F&F segment underline the positive momentum. Evolva is currently in discussions with different partners regarding several other large projects of similar magnitude. These projects would already have some impact in 2022, and particularly further support Evolva’s growth ambitions for 2023 and beyond. The global megatrends of health, wellness and sustainability clearly support Evolva’s natural based ingredients.
2) Profitability improvement: The new leadership team is working together with Evolva’s CMO partners as well as on the pricing side to increase profitability. In addition, all spendings are reviewed to ensure cost discipline. Resources are redirected to focus areas with substiantial performance impact, in particular commercial excellence, up-scaling and business development activities.
3) Culture: The new leadership team is fostering an entrepreneurial, agile and collaborative spirit. The Board of Directors and management are working closely together to ensure full alignment in order to jointly delivering on Evolva’s promises to customers, partners, shareholders and employees.
Christian Wichert, CEO of Evolva, comments: “My first 100 days at Evolva have been intense and exciting. I’m very optimistic about the positive momentum which we experience in the market, the spirit which we have been able to instill in the organization as well as the good discussions we have with our partners. We have identified clear value enhancement opportunities and are fully committed to realize them for all stakeholders by resolving supply chain and resource limitations of nature.”
Evolva will provide a detailed update on the company’s strategy and mid-term targets on occasion of the half-year results on August 25, 2022.
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This press release contains specific forward-looking statements, e.g. statements including terms like believe, assume, expect or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties readers should not place undue reliance on forward-looking statements. The company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.
End of ad hoc announcement
|Company:||Evolva Holding SA|
|Phone:||+41 61 485 20 00|
|Listed:||SIX Swiss Exchange|
|EQS News ID:||1356219|
|End of Announcement||EQS News Service|