Ad-hoc | 20 August 2002 07:54

Evotec OAI AG english

Evotec OAI: First half of 2002: Meeting its Growth Targets Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Evotec OAI: First half of 2002: Meeting its Growth Targets Evotec OAI AG (WKN 566480) achieved revenues of EUR 33.2m in the first half of 2002 (2001: EUR 26.3m), an increase of 26%, in line with growth expectations of 20-30% per year. Operating loss improved by 80% to EUR (15.3)m (2001: EUR (77.7)m). To a large extent this is a consequence of lower amortisation of goodwill and other intangible assets. Excluding this amortisation, loss from operations amounted to EUR (9.2)m (2001: EUR (9.1)m). EBITDA improved by 28% to EUR (3.1)m (2001: EUR (4.3)m). Net loss reduced by 82% to EUR (13.7)m (2001: EUR (77.6)m). Cash and marketable securities, as of June 30, 2002, amounted to EUR 18.3m. Overall cash burn was significantly reduced compared to the same period of 2001, largely due to lower capital expenditures. Based on our business development pipeline we expect that our cash position will improve by the end of 2002. Strategically we are well on track. Our order book – as of July, 2002, it accounted for 73% of analysts’ revenue expectations for the current fiscal year (consensus: EUR 85m) – with many new contracts currently under negotiation makes us confident to reach our annual targets of 20-30% revenue growth and positive EBITDA. However, the difficult condition of capital markets and of the pharmaceutical and biotechnology industries and the resulting uncertainties regarding timing of new contracts have lead to an even stronger emphasis on cost and capacity management. Contact: Anne Hennecke, phone: +49/40/56081-286, anne.hennecke@evotecoai.com end of ad-hoc-announcement (c)DGAP 20.08.2002 ——————————————————————————– WKN: 566480; ISIN: DE0005664809; Index: NEMAX-50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 200754 Aug 02