AP NEWS

Evolva on Track to Deliver on Set Targets

August 9, 2018

REINACH, Switzerland--(BUSINESS WIRE)--Aug 9, 2018--Evolva (SIX:EVE) posted its financial results today and provided business highlights for the period from 1 January to 30 June 2018.

Highlights

Product sales doubled, reaching CHF 1.8 million in the first half of 2018 Nootkatone Expanding product range and geographical presence to accelerate growthUS EPA registration for pest control applications for public health and personal care products remains on trackActive discussions with leading pest control product companiesResveratrol Introduction of new cold-water dispersible resveratrol powder R&D partner projects reduced in line with strategy towards fully funded projects Total revenues CHF 3.8 million in the first half of 2018, up 6% on last year First commercial shipments of EverSweet TM sweetener have been made by Cargill Restructuring on track, fully implemented by year-end The net loss narrowed to CHF 14.7 million (first half 2017 loss CHF 20.3 million)

CEO Oliver Walker said, “It is great to see Evolva’s transformation is delivering results. The increased focus on commercialization is visible in the doubling of our product revenues in the first half of the year. In this phase of Evolva’s development, we are now focused on accelerating our activities to further build Evolva into a customer-focused business. This is an important step in becoming a viable company with a predictable performance.”

COO Scott Fabro added “Evolva’s product sales are on track to our plan and we look forward to a continued growth trend throughout 2018 and well into the future. We are excited that the first orders of the EverSweet TM sweetener have been shipped and look forward to an acceleration in 2019. ”

The full press release text as well as other materials are available on Evolva’s website.

Press/analyst call at 10AM CET on 9 August 2018

Oliver Walker (CEO) and Scott Fabro (COO) will present the results in a call for media and analysts.

Dial-in numbers:

The Powerpoint presentation and the condensed consolidated interim financial statements 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.

About Evolva

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 .

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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180808005847/en/

CONTACT: Evolva

Oliver Walker, + 41 61 485 2034

CEO

oliverw@evolva.com

or

IR

Paul Verbraeken, + 41 61 485 2035

paulv@evolva.com

or

USA

Stephan Herrera, + 1 415 794 4005

stephanh@evolva.com

KEYWORD: EUROPE SWITZERLAND

INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY FITNESS & NUTRITION PHARMACEUTICAL OTHER HEALTH MANUFACTURING CHEMICALS/PLASTICS

SOURCE: Evolva

Copyright Business Wire 2018.

PUB: 08/09/2018 01:01 AM/DISC: 08/09/2018 01:01 AM

http://www.businesswire.com/news/home/20180808005847/en

AP RADIO
Update hourly