Slide 1: Land and Expand
Land and Expand Evotec SE, First quarter 2022 results, 11 May 2022
Slide 2: Cautionary statement regarding forward-looking statements
Cautionary statement regarding forward-looking statements Information set forth in this presentation contains forward-looking statements, which involve a number of risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, which are often indicat
Slide 3: Welcome: The Management Team
Welcome The Management Team Werner Enno Craig Matthias Cord Lanthaler Spillner Johnstone Evers Dohrmann CEO CFO COO CBO CSO PAGE 2
Slide 4: Management quote from Matthias Evers
“I have spent my career as a scientist and con- sultant in life sciences on the confluence of bio- logy, chemistry, and technology more broadly, i.e., data, AI/ML as well as automation. Evotec is uniquely positioned to capitalize on this opportunity as we enter a new era of science and disease under
Slide 5: Agenda
Agenda Highlights Financial performance Q1 2022 Scientific and operational performance Q1 2022 Outlook and Guidance 2022 PAGE 4
Slide 6: Good start and strong performance in all building blocks
Good start and strong performance in all building blocks Q1 2022 – Highlights & lowlights Highlights Strong momentum in all areas New collaborations with Boehringer Ingelheim (iPSC) and Eli Lilly (metabolic diseases) Launch of E.MPD Bayer initiated Phase II of bradykinin receptor B1 BAY 2395
Slide 7: Growth trajectory ahead of plan
Growth trajectory ahead of plan Financials Q1 2022 & FY 2022 guidance Improving momentum Guidance confirmed Group revenues up 24% Very good top-line growth expected (€ 164.7 m vs. Q1 2021: € 133.1 m) Total Group revenues € 700-720 m (2021: € 618 m) Like-for-like growth of Group revenues (€ 6
Slide 8: Agenda
Agenda Highlights Financial performance Q1 2022 Scientific and operational performance Q1 2022 Outlook and Guidance 2022 PAGE 7
Slide 9: Very strong growth – On track for 2022 goals
Very strong growth – On track for 2022 goals Condensed income statement Q1 2022 in EUR m1) Q1 2022 Q1 2021 % vs. 2021 Fx adj. Group revenue growth 19% Revenues from contracts with customers 164.7 133.1 24% 25% growth of base business Gross margin 19.6% 23.1% – Just – Evotec Biologics +27% adju
Slide 10: Very dynamic organic growth in base revenues
Very dynamic organic growth in base revenues Revenues & Gross margin overview Revenues (in € m) Gross margin (in %) Growth across all business lines Base business up 25%; Like-for-like Milestones, upfronts and licences growth up 19% (adj. for fx) Base revenues Almost unchanged upfront, milesto
Slide 11: Integrated platform fostering growth acceleration
Integrated platform fostering growth acceleration Segment information Q1 2022 – Evotec SE and subsidiaries in EUR m1) Inter- EVT EVT segment Evotec EVT Execute: 27% revenue growth Execute Innovate elimination Group including inter-segment revenues. Intersegment-revenue +43% implies Revenues 174.5
Slide 12: Strong balance sheet and cash position
Strong balance sheet and cash position Balance sheet – 31 March 2022 versus 31 December 2021 Balance sheet total Equity ratio Strong equity ratio at 60% in € m in % Leverage ratio remained stable with (5.5)x EBITDA versus year-end; excellent financial flexibility to 2,235.2 2,185.0 61.6 59.9 sup
Slide 13: Agenda
Agenda Highlights Financial performance Q1 2022 Scientific and operational performance Q1 2022 Outlook and Guidance 2021 PAGE 12
Slide 14: Landing and expanding meaningful partnerships
Landing and expanding meaningful partnerships Landmark develpments at the beginning of 2022 Land… Eli Lilly: Discovery of potential drug candidates for the treatment of diabetes and chronic kidney diseases from targets identified by Lilly or Evotec Land again… Boehringer Ingelheim: iPSC-base
Slide 15: Delivering breakthrough therapies via targeted protein degradation
Delivering breakthrough therapies via targeted protein degradation Drugging the undruggable via molecular glues PAGE 14
Slide 16: Quotes from BMS and Evotec on molecular glue degraders
“Our breakthroughs in the understanding of the mechanism of action of CELMoDs® will enable the discovery of more drugs that can direct the degradation of proteins known to be causing disease.” Rupert Vessey, BMS “Molecular glue degraders represent the most important innovation in small molecules in
Slide 17: BMS & Evotec – Global Leadership in TPD
Unique potential translates into a strong engagement industry BMS & Evotec – Global Leadership in TPD The expanding The targeted protein degradation universe of enabling technologies market, antici- Targeted Protein Internal TPD R&D focus only pated to be worth over $ 3.3 bn by Degradation 2030 (C
Slide 18: Moving from exploration to a long-term strategic partnership
Moving from exploration to a long-term strategic partnership Strategic expansion of a successful partnership in targeted protein degradation Developing a pipeline of breakthrough therapies based on molecular glue degraders 8-year extension and significant expansion of original agreement signed in
Slide 19: Scope of deal places BMS & Evotec ahead of key players
Scope of deal places BMS & Evotec ahead of key players Analysis of selected licensing deals – strong momentum in the last 2 years Deal value 5.0 in $ bn 2.5 Nurix/ Sanofi Kymera/ Sanofi 2.0 Vividion/ Bayer Lycia/ Arvinas/ Lilly Foghorn/ 1.5 Pfizer Lilly Amphista/ Seed/ BMS 1.0 Amphista/ Lilly Merck
Slide 20: Targeted Protein Degradation opens a new path to fight disease
Targeted Protein Degradation opens a new path to fight disease Mechanism of Action of targeted protein degraders Compound mediated target Target Target degradation Therapeutic interaction with E3 ligases ubiquitination through proteasome effect Target protein Molecular glues E3 UB E3 E3 E3 ligase PR
Slide 21: Drugging the undruggable harbours enormous potential
Drugging the undruggable harbours enormous potential Vast majority of the proteome is currently not addressed by small molecules Human proteome ~30,000 Degradation is a new paradigm Major advantages of degraders Disease-causing protein Degrader compounds rely primarily 10% on binding Rather than
Slide 22: Rapidly expanding therapeutic space reflects the potential of TPD
Rapidly expanding therapeutic space reflects the potential of TPD 150 TPD projects currently in development Targeted Protein Current TPD pipeline is dominated Degradation Therapeutics by PROTAC development Distribution by Phase of Development Distribution by Therapeutic Area Therapeutic projects wit
Slide 23: Molecular glues are the more attractive degraders
Molecular glues are the more attractive degraders Glues are currently under-represented in the TPD pipeline Molecular glues PROTAC Drug like-ness Pharmacological properties Synthetic tractability Discovery path Challenging Rational design PAGE 22 Nature Reviews Drug Discovery volume 21, pages181–200
Slide 24: BMS is a leader in targeted protein degradation
BMS is a leader in targeted protein degradation Molecular glue targeted protein degraders on market and in clinical development E3 Highest Company Degrader Target Indications ligase phase CC-220 Strong sales IKZF1/3 Multiple Myeloma CRBN Phase II (Iberdomide) Revlimid & Pomalyst together CC-9248
Slide 25: Unbiased and systematic discovery of molecular glues
Unbiased and systematic discovery of molecular glues From exploratory to strategic partnership 2030 2022 2018 Strategic expansion May 2022 Exploratory proteomics driven approach Extend and expand unbiased and systematic 2018 approach to discover new molecular glues Exploratory proteomics-driven
Slide 26: Selecting the most promising molecules via Omics profiling
Selecting the most promising molecules via Omics profiling EVOpanOmics – High performance transcriptome and proteome analysis as the starting point High performance proteomics High performance transcriptomics Unprecedented scale and protein coverage Unprecedented throughput and sequencing depth PAGE
Slide 27: Billions of datapoints require AI/ML-driven analytics
Billions of datapoints require AI/ML-driven analytics EVOpanOmics & EVOpanHunter EVOpanOmics screening data Superior selection of molecular glues Meta data Improved efficacy and safety profiles Chemical data Accelerated LO to IND transition Clinical data Data analysis & interpretation Improved patie
Slide 28: Systematic pursuit of TPD just at the beginning
Systematic pursuit of TPD just at the beginning … Harnessing various mechanisms of protein degradation TPD PAGE 27
Slide 29: Agenda
Agenda Highlights Financial performance Q1 2022 Scientific and operational performance Q1 2022 Outlook and Guidance 2022 PAGE 28
Slide 30: Keeping the promise: ESG & Sustainability
Keeping the promise ESG & Sustainability – Measures taken in Q1 2022 Starting final phase of SBTi target setting process Start of final phase of SBTi alignment project: Scope 3 emission assessment Expansion of investments in women’s health as contribution to SDG3 Setback of eliapixant does n
Slide 31: Significant growth step up and investments towards AP 2025
Significant growth step up and investments towards AP 2025 Guidance 2022 Guidance 2022 YE 2021 Implied growth at midpoint Group revenues € 700 – 720 m € 618.0 m ~15% (at constant fx-rates1)) (€ 690 – 710 m) Unpartnered R&D2) € 70 – 80 m € 58.1 m ~30% Adjusted EBITDA3) € 105 – 120 m € 107.3 m At leas
Slide 32: Our mid-term aspirations are “…just the beginning”
Our mid-term aspirations are “…just the beginning” 2020-2025e Key Performance Indicator goals Revenues Adjusted EBITDA1) in € m in € m >100% ≥180% 500.9 >1,000 106.6 ≥300 Unpartnered R&D Co-owned projects2) in € m >100% >100% 46.4 >100 118 >250 PAGE 31 1) before significant royalties 2) incl. Equity
Slide 33: Setting the pace to accelerate growth along Action Plan 2025
Setting the pace to accelerate growth along Action Plan 2025 Selected key events to watch 2022 R&D Undisrupted growth in line with AP 2025; Continued double digit growth of efficiency base business (EVOiR&D) platforms Significant capacity and value chain expansion for all modalities and sites
Slide 34: Upcoming important dates
Upcoming important dates Financial calendar 2022 Quarterly Statement Q1 2022 11 May 2022 Virtual Annual General Meeting 2022 22 June 2022 Half-year 2022 Interim Report 11 August 2022 Quarterly Statement 9M 2022 09 November 2022 PAGE 33
Slide 35: Questions and Answers
Slide 36: Your contact: Volker Braun
Your contact: Volker Braun Head of Global Investor Relations & ESG +49.(0).40.560 81-775 +49.(0).40.560 81-333 Fax volker.braun@evotec.com