HAMBURG (dpa-AFX) - Evotec AG (EVTCY.PK, EVOTF.PK) reported that its first quarter operating result rose to 19.1 million euros from last year's 6.5 million euros, reflecting higher R&D tax credits and reimbursed R&D expenses from Sanofi.
The Company's net result were 13.1 million euros up from 3.5 million euros in the previous year.
Group revenues increased by 27% to 103.8 million euros from the prior year's 81.6 million euros, driven by the strong performance in the base business and milestone contributions.
For fiscal 2019, Evotec still expects Group revenues to increase by about 10%. Adjusted Group EBITDA is expected to improve by about 10%.
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