The German drug discovery company Evotec has confirmed its sales and profit forecast for 2020. Despite slight delays in payments from project partners and in the conclusion of contracts, the coronavirus pandemic has had no significant impact on financial and strategic development, the company announced in Hamburg on Wednesday.
Evotec works as a contract researcher for other companies and academic institutions (EVT Execute segment). In addition, the Hamburg-based group is rapidly expanding its second pillar, in which it conducts research on novel drugs either on its own or together with partners (EVT Innovate segment). In the EVT Innovate segment, the company plans to spend around 45 million euros on research and development in 2020 (2019: 37.5 million euros).
In the current year, the company continues to expect group revenues from contracts with customers to be between 440 million euros and 480 million euros (2019: 446.8 million euros). Earnings before interest, taxes, depreciation and amortization (EBITDA) adjusted for special effects are expected to decline from 123 million euros last year to between 100 and 120 million euros.
Sales in the first half of the year rose by 12 percent to 231 million euros compared to the same period last year. The operating result fell by 19 percent to 47.3 million euros.
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