Evonext Holdings Sa · SIX:EVE

Evonext Holdings Sa — Evolva Holding — H1 2020 Earnings Presentation

24 slides from Evonext Holdings Sa's earnings presentation, Aug 26, 2020

Slide 1: HY 2020 Results presentation
HY 2020 Results presentation August 26, 2020
Slide 2: Agenda
Agenda Highlights 4 Strategic priorities 7 Business update 13 Financials 19 Outlook 23 © EVOLVA 2020 HY 2020 RESULTS PRESENTATION 26 August 2020 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: Strategic progress and resilient performance despite a challenging environment around the globe
Strategic progress and resilient performance despite a challenging environment around the globe • Received US EPA registration for nootkatone, a protection against insect-borne diseases • Moved major existing products, including EVE- X157/Z4, to new CMOs predominantly in Europe, to support future gr
Slide 6: HY 2020 Highlights
HY 2020 Highlights Product revenue EBITDA Cash - CHF 3.8m, +27% CHF 25.3m -5.0 Order backlog of CHF 3.4m -5.5 Additional financing of -8.3 -8.5 (by June 2020) -10.0 -8.8 CHF 12m successfully EBITDA reported EBITDA product-based Accelerated order momentum HY 2020 HY 2019 realized in July 2020 positiv
Slide 8: On track to achieve strategic mid-term targets
On track to achieve strategic mid-term targets Sustainable innovation Productivity Profitable growth • Nootkatone registered • Strengthening CMO network • Working market segment- by EPA as first novel to support future specific commercial active with 10 years of growth at positive product approach e
Slide 9: Move towards a commercial company with a product-based revenue model
Move towards a commercial company with a product-based revenue model Revenue HY 2019 Revenue HY 2020 0.1 0.1 1.7 3.0 Growth 1.7 3.8 product revenues Product revenue Product revenue R&D revenue (excl. BARDA) R&D revenue (excl. BARDA) BARDA revenue BARDA revenue 47% product-based revenues (CHF 3.0m);
Slide 10: Diversified product portfolio with sales volumes considerably growing
Diversified product portfolio with sales volumes considerably growing Now onboarding commercial scale CMO that can support future growth at positive product margins Market segment Product Revenue model Development Optimization Scale up of Scale up of Recurring Commercial "initial" CMO "commercial-sc
Slide 11: Attractive markets across products
Attractive markets across products Market share 4 High Nootkatone, F&F (7/12-15%) 3 Medium Resveratrol, Health Ingredients (50/+10%) 2 Low Valencene, F&F (16/12-15%) Vanillin, F&F 1 (45/6-7%) Market yet EVE-X157/Z4, F&F / Health Ingredients to be opened (ca. 250/ca. 5%) Nootkatone, Health Protection
Slide 12: Building blocks to reach cash break-even (EBITDA) by 2023
Building blocks to reach cash break-even (EBITDA) by 2023 2004 - 2017 2017 - 2019 2020 - ongoing 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
Slide 14: Our key business segments
Our key business segments FLAVORS AND 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 nootka
Slide 15: Flavors and Fragrances: poised for accelerated growth following product launch in late 2020
Flavors and Fragrances: poised for accelerated growth following product launch in late 2020 Valencene 94% is Evolva’s • Lower sales related to COVID-19 situation, highest purity natural especially for applications in fine fragrances. valencene to meet the EU Flavor regulation (EC) Early signs of rec
Slide 16: Increased commercial demand in Health Ingredients with record order levels
Increased commercial demand in Health Ingredients with record order levels Veri-te Aqua™ is a soluble • Demand for resveratrol boosted by COVID-19 resveratrol and was developed based on a market need, pandemic due to different tangible health benefits especially in functional demonstrated in clinica
Slide 17: Health Protection: US EPA registration of nootkatone as a novel active ingredient
Health Protection: US EPA registration of nootkatone as a novel active ingredient Nootkatone is an ingredient • US EPA registration of Nootkatone pivotal step found in minute quantities in the on this product’s regulatory path bark of the Alaska yellow cedar and in the skin of grapefruit. • Ten-year
Slide 18: EVERSWEET expected to grow over time
Other products: royalty income from EVERSWEET™ expected to grow over time EVERSWEET™ is a calorie- • Evolva receives royalty payments on all EVERSWEET™ sales free stevia sweetener. Not only does it deliver a high-quality • The first commercial-scale production of EVERSWEET™ sweetness profile, it’s a
Slide 20: Key Figures
Key Figures HY 2020 HY 2020 HY 2019 HY 2019 in CHF million Reported Product-based Reported Product-based Product revenue 3.8 3.8 3.0 3.0 Order backlog 2.4 2.4 - - Total revenue 4.0 3.8 6.4 3.0 Gross profit -0.2 -0.41) 3.3 -0.1 Total operating expenses -12.4 -12.42) -12.8 -12.8 EBITDA -8.3 -8.5 -5.5
Slide 21: Operating free cash flow in line with guidance
Operating free cash flow in line with guidance HY 2020 HY 2019 in CHF million Reported Reported Cash position at beginning 39.9 60.4 Operating free cash flow1) -14.0 -9.3 Contribution EVERSWEETTM license - -5.2 Financing / Investing activities -0.6 -0.6 Cash position end of period 25.3 45.3 1) Opera
Slide 22: EBITDA impacted by lower F&F sales and delays at CMOs. Product-based EBITDA nevertheless improving
EBITDA impacted by lower F&F sales and delays at CMOs. Product-based EBITDA nevertheless improving in CHF million © EVOLVA 2020 HY 2020 RESULTS PRESENTATION 26 August 2020 22
Slide 24: 2020 Outlook
2020 Outlook The below outlook assumes no further lockdown measures being imposed and business environment being consistent over the rest of the year 2020. Despite a challenging global environment, we expect product-related revenue to double over prior year, and a fading out of R&D revenue following

Evolva Holding — H1 2020 Earnings Presentation on 6ix

Evonext Holdings Sa — Evolva Holding — H1 2020 Earnings Presentation

Slide 1: HY 2020 Results presentation

Slide 2: Agenda

Slide 3: Disclaimer

Slide 4: Highlights

Slide 5: Strategic progress and resilient performance despite a challenging environment around the globe

Slide 6: HY 2020 Highlights

Slide 7: Strategic priorities

Slide 8: On track to achieve strategic mid-term targets

Slide 9: Move towards a commercial company with a product-based revenue model

Slide 10: Diversified product portfolio with sales volumes considerably growing

Slide 11: Attractive markets across products

Slide 12: Building blocks to reach cash break-even (EBITDA) by 2023

Slide 13: Business update

Slide 14: Our key business segments

Slide 15: Flavors and Fragrances: poised for accelerated growth following product launch in late 2020

Slide 16: Increased commercial demand in Health Ingredients with record order levels

Slide 17: Health Protection: US EPA registration of nootkatone as a novel active ingredient

Slide 18: EVERSWEET expected to grow over time

Slide 19: Financials

Slide 20: Key Figures

Slide 21: Operating free cash flow in line with guidance

Slide 22: EBITDA impacted by lower F&F sales and delays at CMOs. Product-based EBITDA nevertheless improving

Slide 23: Outlook

Slide 24: 2020 Outlook