Evotec SE(US:EVO)2021-08-11 13:51Financial Performance H1 2021 - Group revenues increased by 17% to €2713 million (H1 2020: €2310 million), with organic growth at a record level of 27%[11] - Adjusted Group EBITDA decreased by 23% to €362 million (H1 2020: €473 million), mainly due to planned capacity build-up ahead of the imminent production start of J·POD® 1 US, like-for-like growth was 13%[11] - Expenses for unpartnered R&D increased by 29% to €278 million (H1 2020: €216 million)[11] - Net income increased significantly by over 100% to €1127 million (H1 2020: €73 million), benefiting from the fair value adjustment of EVO equity investment Exscientia[18] - Base revenues increased by 17% or €381 million to €2613 million, with Just – Evotec Biologics adding revenues of €230 million, an increase of 44%[20] Guidance and Outlook - The company confirmed its 2021 outlook, projecting Group revenues of €550-570 million (2020: €5009 million) and adjusted Group EBITDA of €105-120 million (2020: €1066 million)[11] - Unpartnered R&D expenses are expected to be €50-60 million (2020: €464 million)[11] - Action Plan 2025 targets were confirmed, aiming for revenues > €1000 million, adjusted EBITDA ≥ €300 million, and unpartnered R&D > €100 million[11] Strategic Developments - The acquisition of the Verona site from GlaxoSmithKline SpA was completed, now named "Campus Levi-Montalcini"[10, 35, 37] - A significant extension of the BMS Oncology protein degradation partnership was achieved ahead of term, along with a new protein degradation collaboration in an undisclosed therapeutic area also signed with BMS[10, 46] - J·POD® 1 US in Redmond is opening on August 18th, and construction of J·POD® 2 EU is set to start in Q4 2021[10] - The company submitted a registration statement for a proposed offering of American Depositary Shares (after period-end)[10]