Krakow, Poland – 11 September 2018 – Selvita, one of the largest drug discovery companies in Europe, has recently published semiannual financial results demonstrating its strong and dynamic business growth.
In H1 2018 Service Segment recognized a significant increase in revenues and greater operating profitability, comparing to H1 2017. Revenues from the Service Segment in H1 2018 totaled PLN 27.9 MM, which means an increase of 43% in comparison to the same period of the previous year when these revenues amounted to PLN 19.6 MM. The operating profit amounted to PLN 4.5 MM, which means profitability of 14% in comparison to operating profit in H1 2017, which amounted to PLN 1.2 MM.
In the Service Segment in 2018 Selvita Group has continued to focus on intensive Service Segment’s growth as a result of business portfolio extension, penetrating of new markets and conclusion of more valuable and long-term FTE and integrated contracts.
Group’s net profit for H1 2018 amounted to PLN 16.1 MM in comparison to PLN 8.8 MM in H1 2017. The Group’s net profitability for H1 2018 (calculated as the net profit divided by total operating activities) amounted to 32% which means an increase of 17 p.p. in comparison to H1 2017. In H1 2018 net profit exceeded profit on operating activities as a result of positive valuation of Nodthera’s shares held by Selvita.
In H1 2018 Selvita Group recognized total operating revenue in the amount of PLN 50.5 MM versus PLN 59.7 MM. Total commercial revenue for H1 2018 amounted to PLN 37.2 MM which means an increase of 19% as in a comparable period of 2017, in which total commercial revenue amounted to PLN 31.3 MM.
Selvita’s Innovative Segment generated in H1 2018 revenues amounting to PLN 16.2 MM vs PLN 35.4 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 H1 2017.
In H1 2018 Bioinformatics Segment revenues amounted to PLN 4.6 MM, showing an increase of 15% compared to H1 2017 when it amounted to PLN 3.9 MM.
In H1 2018 grants income increased by 65% in comparison to the H1 2017 (PLN 7.8 MM vs PLN 12.9 MM).
The value of the 2018 contracts portfolio resulting from commercial contracts and grant agreements signed as of the publication date of this report (backlog) amounts to PLN 97.4 MM. It is also worth noting that the Services Segment backlog for 2018 has increased by 46%.
The summary of the Selvita Consolidated Quarterly Report for H1 2018 is available at:
The full version (in Polish) is available at:
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).
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