REINACH, Switzerland--(EON: Enhanced Online News)--Evolva (SIX:EVE) today announces its financial results for the period 1 January to 31 December 2016 and provides a business update. The full news release, annual report and Powerpoint presentation are available on the website.
“Our commercial pipeline is developing very favourably, providing a basis for top-line growth. Our cash position going into 2017 is good and the recent Yorkville facility further strengthens and expands our financial toolkit.”
Summary of key items:
- Strong growth in commercial pipeline for nootkatone, valencene and resveratrol
- Progress in build-up of commercial capabilities (including online sales)
- Distributor network widened significantly
- Further reduction of production costs across the board
- Expanded EverSweetTM IP portfolio with pivotal patents for producing the best-tasting stevia sweeteners via fermentation
- Agreement with Cargill on the stevia project expected to be announced next week
- EverSweetTM on track for launch in 2018
- Nootkatone on track for launch in insect control in 2018
- Solid progress on partnered projects
- Revenues of CHF 9.6 million (2015: CHF 13.4 million)
- Costs under tight control
- Cash position of CHF 47.5 million on 31 December 2016
- Finances recently strengthened with a standby equity facility of CHF 30 million
Neil Goldsmith, CEO of Evolva said, “Whilst 2016 was in many respects a challenging year, it also saw Evolva successfully continue its transition away from being a pure-play R&D company to having its own launched products, supported by capabilities in areas such as manufacturing, regulatory, application development and sales. Regarding the stevia programme, we have seen good progress in the discussions with Cargill and expect to announce an agreement in the course of next week.”
Oliver Walker, CFO, commented, “Our commercial pipeline is developing very favourably, providing a basis for top-line growth. Our cash position going into 2017 is good and the recent Yorkville facility further strengthens and expands our financial toolkit.”
The full text of the press release as well as related documents are available on the Evolva website.
Press/analyst call at 10AM CET on 30 March 2017
Neil Goldsmith (CEO) and Oliver Walker (CFO) will provide an update on progress in a call for analysts and media. The dial-in numbers are:
+41 (0)58 310 50 00 (Europe)
+44 (0)203 059 58 62 (UK)
+1 (1)631 570 5613 (USA)
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.
Evolva solves the supply chain issues of nature through a 21st century mix of biotechnology and brewing. We develop, make and sell natural ingredients that provide significant benefits to people in daily life, but whose supply chain issues have limited their use until now. Our flagship ingredients are stevia, nootkatone and resveratrol, but we work on many more, both on our own behalf and with others. 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. We operate internationally. For more information see www.evolva.com. Questions about our approach? Have a look at our video.
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.