Selvita demonstrates dynamic business growth in Q3 2018

Krakow, Poland – 20 November 2018 – Selvita (WSE: SLV), a clinical stage drug discovery and development company engaged in the research and development of novel cancer therapies, has recently published quarterly financial results demonstrating its continued dynamic business growth.

In Q3 2018 Selvita Group recognized total commercial revenue (not including revenues from subsidies and sales of R&D projects) amounted to PLN 56.6 MM which means an increase of 17% as in the comparative period of 2017, in which total commercial revenue amounted to PLN 48.2 MM.

In Q3 2018 Services Segment recognized a significant increase in revenues and greater operating profitability, comparing to the corresponding period of 2017. Commercial revenues of Services Segment for this period of 2018 amounted to PLN 43.2 MM, which means an increase (of 41%) compared to Q3 2017 when these revenues amounted to PLN 30.5 MM. The operating profit amounted to PLN 6.8 MM, showing a 134% growth in comparison to operating profitability of Q3 2017. In the Services Segment in 2018 Selvita Group has continued to focus on intensive Services Segment’s growth as a result of business portfolio extension, new markets penetration and conclusion of more valuable and long-term FTE and integrated contracts.

Group’s net result in Q3 2018 amounted to PLN 13.3 MM in comparison to PLN 9.7 MM in the same period of 2017. The Group’s net profitability for Q3 2018 (calculated as the net profit divided by total operating activities) amounted to 37% which means an increase of 5 p.p. in comparison to Q3 2017. In Q3 2018 net profit exceeded profit on operating activities as a result of the change of the valuation of Nodthera’s shares held by Selvita.

Selvita’s Innovative Segment generated in Q3 2018 operating loss amounted to PLN 12.5 MM compared to the same period in 2017, when it amounted to PLN 7.3 MM. It should be noted that difference is mainly caused by the commercialization of SEL24 program which had a significant influence on income and revenue dynamics in 2017.

In Q3 2018 Bioinformatics Segment’s revenues amounted to PLN 7.5 MM which means an increase of 37% compared to Q3 2017, when it amounted to PLN 5.7 MM.

Grants income for the Q3 2018 increased by 73% in comparison to the corresponding period of the previous year (PLN 11.5 MM vs PLN 20.0 MM).

The value of the contracted portfolio of orders for the year 2018 resulting from commercial contracts and grants agreements signed as of the publication date of this report (backlog) amounts to PLN 103.1 MM. It is also worth noting that the Services Segment backlog for 2018 has increased by 36%. Grants backlog predicts an increase of grant income of 81% in comparison to grant income expected in the same period of 2017.

 

 

The summary of the Selvita Consolidated Quarterly Report for Q3 2018 is available at:
https://selvita.com/investor-relations/stock-market-reports/

 

The full version (in Polish) is available at:
https://selvita.com/pl/centrum-inwestora/raporty-gieldowe/

 


About Selvita

Selvita S.A. is a clinical stage drug discovery company engaged in the research and development of novel cancer therapies, as well as provision of integrated drug discovery services. Selvita is headquartered in Krakow, Poland, with offices in the USA (Greater Boston, San Francisco Bay), and in the UK (Cambridge). Selvita has currently several projects at early or late discovery stage. Drug discovery clients of Selvita include numerous large and medium-sized pharmaceutical and biotechnology companies from USA and Europe. The company is listed on the Warsaw Stock Exchange (WSE:SLV).

 

Media contact:
Malgorzata Syjud
Selvita S.A.
malgorzata.syjud@selvita.com
+48 660 797 362

 

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