REINACH, Switzerland--(BUSINESS WIRE)--Evolva (SIX: EVE) posted its financial results today and provided business highlights for the period from 1 January to 31 December 2018.
Key business highlights
- Evolva has completed its transformation process that had started in August 2017
- Continuing solid product sales growth trend
- Wider geographical distribution footprint and relevant extensions of product ranges
- Company on track to develop a pest control ingredients business with US EPA registration of nootkatone expected in a couple of months
- Well-developed product pipeline that will additionally support future sales growth
- Evolva has received the first royalty payment from EverSweetTM product sales, albeit modest as expected, in the fourth quarter of 2018
- Product sales reached CHF 3.4 million in 2018 (+70%)
- Overall revenues were CHF 8.9 million (+31%)
- Financial profile improved, cost base sustainably lower
- Cash position of CHF 60.4 million on 31 December 2018 (31 December 2017: CHF 97.2m)
- On track to reach cash break-even in the 2021/23 timeframe
Evolva CEO Oliver Walker said, “Evolva achieved substantial progress across the board in 2018. We have put our house in order, adding a clear customer focus on top of our strong basis in research and development. We have at the same time improved our financial profile, paving a more solid road towards profitability. We are excited about our prospects going into 2019. We expect a growth acceleration for the EverSweetTM product and a US registration for nootkatone in pest control. These milestones will enhance the opportunities to unlock significant additional income streams for Evolva. And, last but not least, we have several new products in late stage development which could potentially go to market in the foreseeable future.”
- Ends -
The full press release, Powerpoint presentation and annual accounts are available on Evolva’s website. A replay will be available as a podcast for 2 weeks after the call. The link to the podcast will be posted on Evolva’s website.
Press/analyst call at 10AM CET on 28 February 2019
Oliver Walker (CEO) and Scott Fabro (COO) will present the results in call for media and analysts. Dial-in numbers:
+41 (0)58 310 5000 (Europe)
+44 (0)207 107 0613 (UK)
+1 (1)631 570 5613 (USA)
Evolva solves the supply chain issues of nature through a 21st century mix of biotechnology and fermentation. We develop, make and sell ingredients that provide significant health, wellness and nutrition benefits to people in their daily life, but whose supply chain issues have limited their use until now. Our flagship ingredients are stevia, nootkatone and resveratrol. To make our world sustainable requires nature and technology to work together as one, and our aim is to play a (small) part in achieving this transformation. For more information see www.evolva.com.
This press release contains specific forward-looking statements, e.g. statements including terms like believe, assume, expect or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties readers should not place undue reliance on forward-looking statements. The company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.