Evolva business update: On track to reach 2022 guidance

Evolva Holding SA / Key word(s): Miscellaneous

19-May-2022 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

Ad Hoc Announcement (PDF)

PRESS RELEASE | AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR

• Evolva is on track to reach its targeted revenue growth of 50% in 2022 and a positive, double-digit gross contribution margin
• The two recently announced customer orders above the CHF 1 million threshold underline the positive market momentum
• Several large projects of similar magnitude are currently being discussed with partners
• Mid-term plan and targets will be presented with the half-year results 2022

Reinach, May 19, 2022 – Evolva (SIX:EVE), a pioneer in the field of natural molecules and industrial biotech, today provides a business update as the new CEO Christian Wichert has completed his first 100 days. After a slow start into the year, business momentum has picked up. The multiple initiatives which the new leadership team has initated are already showing first fruits. Consequently, the company is confident to reach its targeted sales growth of 50% in 2022 and a positive, double digit contribution margin.

As communicated with the FY21 results on March 10, 2022, the immediate focus is on three levers:

1) Boost Commercial Performance: The recently announced distribution agreement with Tovani for Veri-te^TM Resveratrol in Brazil as well as the significant revenues which Evolva has been able to secure for the F&F segment underline the positive momentum. Evolva is currently in discussions with different partners regarding several other large projects of similar magnitude. These projects would already have some impact in 2022, and particularly further support Evolva’s growth ambitions for 2023 and beyond. The global megatrends of health, wellness and sustainability clearly support Evolva’s natural based ingredients.

2) Profitability improvement: The new leadership team is working together with Evolva’s CMO partners as well as on the pricing side to increase profitability. In addition, all spendings are reviewed to ensure cost discipline. Resources are redirected to focus areas with substiantial performance impact, in particular commercial excellence, up-scaling and business development activities.

3) Culture: The new leadership team is fostering an entrepreneurial, agile and collaborative spirit. The Board of Directors and management are working closely together to ensure full alignment in order to jointly delivering on Evolva’s promises to customers, partners, shareholders and employees.

Christian Wichert, CEO of Evolva, comments: “My first 100 days at Evolva have been intense and exciting. I’m very optimistic about the positive momentum which we experience in the market, the spirit which we have been able to instill in the organization as well as the good discussions we have with our partners. We have identified clear value enhancement opportunities and are fully committed to realize them for all stakeholders by resolving supply chain and resource limitations of nature.”

Evolva will provide a detailed update on the company’s strategy and mid-term targets on occasion of the half-year results on August 25, 2022.

About Evolva
Evolva is a Swiss biotech company focused on the research, development and commercialization of ingredients based on nature. We have leading businesses in Flavors and Fragrances, Health Ingredients and Health Protection. Evolva’s employees, half of which are women, are dedicated to make the best products that can contribute to health, wellness and sustainability. Find out more at evolva.com and connect with us on LinkedIn.

For Evolva multimedia content, please visit: evolva.com/multimedia-library.

Important date(s)
August 25, 2022     Half-year 2022 Report

Contact
Thomas Schneckenburger, PhD, CFA
Head of Investor and Corporate Relations
+41 61 485 2003
+41 79 407 9952
thomass@evolva.com

Disclaimer
This announcement is not an offer of securities into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered, pledged, sold, delivered or otherwise transferred, directly or indirectly, in the United States, except pursuant to an exemption from, or transaction not subject to, the registration requirements of the Securities Act. No public offering of securities is being made in the United States. Further, the securities referred to herein have not been and will not be registered under the applicable securities laws of Canada, Australia or Japan or under the applicable securities laws of any other jurisdiction where to do so might constitute a violation of such laws.

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.