DGAP-Adhoc: Evotec AG: Results of pre-clinical studies lead to reduction in revenues, nevertheless profitable and more than EUR

DGAP-Adhoc: Evotec AG: Results of pre-clinical studies lead to reduction in 
revenues, nevertheless profitable and more than EUR 90 m cash for 2013 confirmed

Evotec AG  / Key word(s): Change in Forecast

13.12.2013 10:29

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Hamburg, Germany - Evotec AG (Frankfurt Stock Exchange, Prime Standard,
ISIN: DE 000 566480 9, WKN 566480) today announced that it is adjusting its
guidance regarding Group revenues.

Certain pre-clinical studies with the NR2B subtype selective NMDA
antagonist performed by Evotec's licensee,  Janssen Pharmaceuticals, Inc.
did not confirm certain properties of the antagonist and did not justify
the planned immediate development progress and therefore do not trigger a
significant milestone payment to Evotec in 2013. The project is currently
under evaluation at Janssen. Evotec will be obliged to evaluate the
impairment of up to EUR 22 m of intangibles in respect of these 'legacy
assets' on Evotec's balance sheet.

Evotec now expects revenues to be between EUR 84-86 m for the fiscal year
2013. Original guidance for revenues was between EUR 90-100 m. The
operating result before impairment and changes in contingent consideration
is still forecasted to be positive, but might no longer be improved from
its 2012 level. In the third quarter of 2013, guidance on liquidity was
increased to be >EUR 90 m and remains unchanged.


Contact: Dr Werner Lanthaler, Chief Executive Officer, Evotec AG, Manfred
Eigen Campus, Essener Bogen 7, 22419 Hamburg, Germany, Phone: +49.(0)40.560
81-255, werner.lanthaler@evotec.com


13.12.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Evotec AG
              Manfred Eigen Campus / Essener Bogen 7
              22419 Hamburg
              Germany
Phone:        +49 (0)40 560 81-0
Fax:          +49 (0)40 560 81-222
E-mail:       info@evotec.com
Internet:     www.evotec.com
ISIN:         DE0005664809
WKN:          566480
Indices:      TecDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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