HAMBURG (dpa-AFX) - German drug discovery solutions company Evotec AG (EVTCY.PK, EVOTF.PK) said that it raised its profitability guidance for the current year.
The company said, 'This mainly results from Evotec's strong business performance leading to increased margin contribution, important scientific milestone achievements in the fourth quarter of 2018 as well as increased other operating income due to e.g. research & development tax credits in the second half of 2018.
The company now expects adjusted Group EBITDA to increase by more than 45% in 2018 compared to last year's 58.4 million euros. Previously, it was expected to improve by about 30%.
The company noted that all other elements of the Company's financial guidance are confirmed.
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