HAMBURG (dpa-AFX) - Evotec AG (EVTCY.PK, EVOTF.PK) reported that the company's net income in 2018 amounted to 84.1 million euros compared to 23.2 million euros, prior year, being impacted by most recent acquisitions and the strong performance of the base business. Earnings per share was 0.56 euros compared to 0.16 euros. Evotec's operating result amounted to 77.5 million euros compared to 36.7 million euros, last year, being positively impacted by the income from bargain purchase and higher R&D tax credits as well as positive one-off effects from receivables and tax credits.
Evotec recorded a significant step-up in the adjusted Group EBITDA for 2018 to 95.5 million euros from 57.2 million euros, prior year, yielding an adjusted EBITDA margin of 25.4% compared to 21.7%. Adjusted Group EBITDA was 92.0 million euros, excluding one-off effects from tax credits and receivables.
In 2018, Group revenues increased by 42% to 375.4 million euros. The company said the increase was driven primarily by the strong performance in the base business, increased milestone payments and a positive first full-year contribution from the acquired business of Aptuit. Revenues were 364.0 million euros, excluding revenues from recharges according to IFRS 15.
For fiscal 2019, Evotec AG projects Group revenues to increase by approx. 10%. Adjusted Group EBITDA is expected to improve by approx. 10%.
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