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BRIEF-Evotec sees significant improvement in 2017 core profit
March 28, 2017 / 5:41 AM / 8 months ago

BRIEF-Evotec sees significant improvement in 2017 core profit

March 28 (Reuters) - Evotec Ag

* 2016 total group revenues up 29 pct to 164.5 mln eur

* 2016 base revenues up 26 pct to 145.6 mln eur

* 2016 adjusted group EBITDA increased to 36.2 mln eur

* 2016 stable group research and development expenses of 18.1 mln eur

* Liquidity position of 126.3 mln eur (2015: 133.9 mln eur) by end of 2016

* Liquidity position further improved in Q1 2017 following 90.3 mln eur capital increase with Novo a/s

* Group revenues expected to increase by more than 15 pct in 2017

* Revenue guidance from 2017 onwards based on total group revenues and not on revenues excluding milestones, upfronts and licences

* Research and development expenses in 2017 are expected to be approx. 20 mln eur in total and thus similar to 2016

* Adjusted group EBITDA expected to improve significantly in 2017 Source text for Eikon: Further company coverage: (Reporting By Georgina Prodhan)

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