March 18, 2020 / 6:17 AM / 2 months ago

BRIEF-Evolva FY EBITDA At CHF -12.3 Mln

March 18 (Reuters) - EVOLVA HOLDING SA:

* FULL YEAR REVENUE INCREASED TO CHF 11.6 MILLION IN 2019 (+30%) MAINLY DRIVEN BY PRODUCT-RELATED REVENUES GROWING BY 59% TO CHF 5.5 MILLION

* FY EBITDA UP 47% COMPARED TO PREVIOUS YEAR (CHF -12.3 MILLION VERSUS CHF -23.2 MILLION IN 2018)

* FY OPERATING FREE CASH FLOW IMPROVED TO CHF -14.3 MILLION (+40%)

* MAJOR PROGRESS IN DEVELOPING A NEW PRODUCT, EVE-X157/Z4, TO BE LAUNCHED IN LATE 2020

* IN 2020 SEES CONSISTENT PRODUCT RELATED REVENUE GROWTH ACROSS BUSINESS SEGMENTS, AND DECLINE IN RESEARCH AND DEVELOPMENT REVENUE FOLLOWING COMPLETION OF CONTRACT WITH BARDA

* OUTLOOK 2020: EBITDA IS EXPECTED TO REMAIN BROADLY AT AROUND PRIOR-YEAR LEVEL

* OUTLOOK 2020: WE ANTICIPATE CASH OUTFLOWS TO BE SLIGHTLY ABOVE 2019 LEVEL

* OUTLOOK 2020 EXCLUDES ANY IMPACT ON EVOLVA’S BUSINESS FROM CORONAVIRUS (COVID-19) WHICH CANNOT BE ESTIMATED AT THIS POINT IN TIME Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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