Evonext Holdings Sa · SIX:EVE

Evonext Holdings Sa — Evolva Holding — H1 2021 Earnings Presentation

30 slides from Evonext Holdings Sa's earnings presentation, Aug 26, 2021

Slide 1: HY 2021 Results presentation
HY 2021 Results presentation August 26, 2021
Slide 2: Agenda
Agenda Highlights 4 Strategic priorities 7 Business update 15 Financials 24 Outlook 28 © EVOLVA HY 2021 RESULTS PRESENTATION 26 August 2021 2
Slide 3: Disclaimer
Disclaimer The shares of Evolva Holding (“Evolva”) are traded on the SIX Swiss Stock Exchange (ticker: “EVE”). This presentation may contain specific forward-looking statements, relating to Evolva's future business, development and economic performance. e.g., statements including terms like "believe
Slide 5: Back to accelerated growth path despite challenging environment
Back to accelerated growth path despite challenging environment. Gross profit positive from Q4, 2021 • Total revenue grew 60% compared to previous year reaching CHF 6.4m, in line with plans • Ongoing momentum in Health Ingredients. Increased sales in Flavors and Fragrances raised hope of a market re
Slide 6: HY 2021 Key Performance Indicators
HY 2021 Key Performance Indicators Total revenue Gross profit1) Innovation CHF 6.4m CHF -6.3m Successful launch +60% over H1 2020 vs. CHF -0.2m in 2020 of L-arabinose Back to accelerated Gross profit positive and different variants of growth path from Q4 2021 other products OPEX2) Adj. EBITDA1) Fina
Slide 8: On track to achieve strategic targets
On track to achieve strategic targets Sustainable innovation Productivity Profitable growth • Good progress on • Planned updates of CMO • Successfully leveraged nootkatone’s end-user network largely completed market segment-specific applications • Scaled up manufacturing commercial approach • Design
Slide 9: Investments yielding progress in manufacturing
Investments yielding progress in manufacturing Achievements • Update of CMO network largely completed • Stable manufacturing processes across products • Manufacturing processes vastly scalable to produce larger volumes • Increased resources in Operations function to provide broad support to CMOs in
Slide 10: Progress in scaling-up manufacturing to support future growth at positive product margins
Progress in scaling-up manufacturing to support future growth at positive product margins “Initial” CMO “Commercial-scale” CMO Recurring Recurring Commercial Business segment Product Revenue model Development Scale up Scale up manufacturing manufacturing sales Flavors & Valencene Product sales   
Slide 11: Attractive addressable markets across products
Attractive addressable markets across products Market share 4 High Nootkatone, F&F 3 (7/12-15%) Resveratrol, Health Ingredients (60/+10%) Medium 2 Valencene, F&F (16/12-15%) Low Vanillin, F&F (45/6-7%) 1 Nootkatone, Health Protection (300-350/6-7%) Market yet L-Arabinose, F&F (F&B) to be opened and
Slide 12: Development of composition of sales until 2023
Development of composition of sales until 2023 EBITDA break-even sales Broadly around CHF 35-40m Base business CAGR21-23 35-40% Incremental business Overall business CAGR21-23 60-70% EVERSWEET™, vanillin, NootkaShield™ Base business valencene, nootkatone, resveratrol, L-arabinose 2021 2022 2023 © EV
Slide 13: Development of Gross profit per product
Development of Gross profit per product Target Gross profit margin at EBITDA break-even of min. 40% Potential beyond EBITDA break-even target range 2023 2023 Target range for 2023 2022 2023 EBITDA break-even Product A Product B Product C Q4 2021 2022 Gross profit positive, but improvable Product D Q
Slide 14: Evolva's progress over time
Evolva’s progress over time 2004 - 2017 2017 - 2019 2020 - present R&D stage company Early-stage commercial company Commercial company with services-based revenue reached through a transformation with innovative technology model process. Started phasing out at its core and a product-based R&D-relate
Slide 16: Our key business segments
Our key business segments FLAVORS & FRAGRANCES HEALTH INGREDIENTS HEALTH PROTECTION We provide nature-based flavors and We provide nature-based dietary We offer nature-based products with fragrances’ ingredients such as supplements’ ingredients that can high efficacy that can protect health- nootkat
Slide 17: A growing portfolio, with six products on the market across business segments
A growing portfolio, with six products on the market across business segments Products Main Applications Status Revenue Stream Valencene Flavors and fragrances On the market Product sales Nootkatone Flavors and fragrances On the market Product sales Vanillin Flavors and fragrances On the market Prod
Slide 18: Flavors and Fragrances: Sales gained momentum, raising hope of a market recovery
Flavors and Fragrances: Sales gained momentum, raising hope of a market recovery New product variant: • Sales gained momentum, which raised hope of a Valencene 94% is market recovery from COVID-19. Valencene 94% Evolva’s highest purity has started to contribute to the growth dynamics of the natural
Slide 19: Health Ingredients: Ongoing strong momentum expected to continue through 2021
Health Ingredients: Ongoing strong momentum expected to continue through 2021 New product variant: • Ongoing growing demand for Veri-te™ resveratrol, Veri-te™ Pets resveratrol which has been boosted by the pandemic due to is available in food grade different tangible health benefits demonstrated by
Slide 20: L-Arabinose, a versatile ingredient with applications across industries
L-Arabinose, a versatile ingredient with applications across industries • Pharma: can be used as a precursor of the biotechnological production L-nucleoside analogs as well in weight loss medical devices. • Flavor: due to its property as reducing sugar, it can be part of the Maillard reaction result
Slide 21: Health Protection: Ongoing development of first end-user products
Health Protection: Ongoing development of first end-user products Nootkatone is an ingredient • Estimated USD 350m US market found in minute quantities in the bark of the Alaska yellow cedar • Investment in the development and registration and in the skin of grapefruit. of own formulations It has be
Slide 22: Nootkatone, for a variety of applications
Nootkatone, for a variety of applications US Centers for Disease Control (CDC) demonstrated that nootkatone as an active ingredient is highly effective against the ticks that transmit Lyme disease and a variety of other insects, including many nuisance pests. Research by the CDC has determined that
Slide 23: Other products: Royalty income from EVERSWEET expected to accelerate in H2
Other products: Royalty income from EVERSWEET™ expected to accelerate in H2 EVERSWEET™ is a calorie- • Evolva receives royalty payments on all EVERSWEET sales free stevia sweetener. Not only does it deliver a high-quality • Initial registrations of EVERSWEET in US and Mexico sweetness profile, it’s
Slide 25: Key Figures
Key Figures 1) Including extraordinary HY 2021 HY 2021 HY 2020 HY 2020 costs related to failed in CHF million Reported Adjusted Reported Adjusted start-up batches, non-recurring expenses Product revenue 6.0 3.8 for the increase of operational provisions R&D revenue 0.4 0.2 Total revenue 6.4 4.0 Gros
Slide 26: Adjusted performance at prior year level
Adjusted performance at prior year level in CHF million Adjusted performance 1,2 -7,1 0,8 0,7 -7,2 -8,3 4,8 -12,0 1,0 -13,0 HY 2020 Extraordinary HY 2020 Lower Gross Operating HY1 2021 Cost related HY 2021 Extraordinary HY 2021 Reported Costs Adjusted Profit related Cost Adjusted to enlarging Adjust
Slide 27: Manufacturing costs continue to decline
Manufacturing costs continue to decline Manufacturing cost development per kg - illustrative • Further improvement of manufacturing Costs of CHF 4.8m related to costs expected in Q3 and Q4 enlarging the supplier base and scaling-up manufacturing • The manufacturing start-up cost are projected to amo
Slide 28: Additional investments in start-up and growth activities
Additional investments in start-up and growth activities HY 2021 HY 2020 in CHF million Reported Reported Cash position at beginning 19.7 39.9 EBITDA -13.0 -8.3 Change in NWC and other -0.5 -4.1 Cash flow from operating activities -13.5 -12.4 Cash flow from investing activities -3.71) -1.6 Cash flow
Slide 30: 2021 Outlook
2021 Outlook As the pandemic continues, we are experiencing a slower return to normal conditions than we had anticipated. Evolva expects ongoing growing demand for Health Ingredients, but still only slowly recovering demand for its Flavor and Fragrance products. The more robust supply chain is expec

Evolva Holding — H1 2021 Earnings Presentation on 6ix

Evonext Holdings Sa — Evolva Holding — H1 2021 Earnings Presentation

Slide 1: HY 2021 Results presentation

Slide 2: Agenda

Slide 3: Disclaimer

Slide 4: Highlights

Slide 5: Back to accelerated growth path despite challenging environment

Slide 6: HY 2021 Key Performance Indicators

Slide 7: Strategic priorities

Slide 8: On track to achieve strategic targets

Slide 9: Investments yielding progress in manufacturing

Slide 10: Progress in scaling-up manufacturing to support future growth at positive product margins

Slide 11: Attractive addressable markets across products

Slide 12: Development of composition of sales until 2023

Slide 13: Development of Gross profit per product

Slide 14: Evolva's progress over time

Slide 15: Business update

Slide 16: Our key business segments

Slide 17: A growing portfolio, with six products on the market across business segments

Slide 18: Flavors and Fragrances: Sales gained momentum, raising hope of a market recovery

Slide 19: Health Ingredients: Ongoing strong momentum expected to continue through 2021

Slide 20: L-Arabinose, a versatile ingredient with applications across industries

Slide 21: Health Protection: Ongoing development of first end-user products

Slide 22: Nootkatone, for a variety of applications

Slide 23: Other products: Royalty income from EVERSWEET expected to accelerate in H2

Slide 24: Financials

Slide 25: Key Figures

Slide 26: Adjusted performance at prior year level

Slide 27: Manufacturing costs continue to decline

Slide 28: Additional investments in start-up and growth activities

Slide 29: Outlook

Slide 30: 2021 Outlook