Evolva on Track to Deliver on Set Targets
- Product sales doubled, reaching CHF 1.8 million in the first half of 2018
- Expanding product range and geographical presence to accelerate growth
- US EPA registration for pest control applications for public health and personal care products remains on track
- Active discussions with leading pest control product companies
- 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 EverSweetTM 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 EverSweetTM 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.
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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.
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.