Krakow, Poland – 25 May 2018 – Selvita, one of the largest drug discovery companies in Europe, has recently published quarterly financial results demonstrating its continued dynamic business growth.
Revenues from the Services Segment in Q1 2018 totaled PLN 13.6 MM, which represents growth of 53% in comparison to the same period of the previous year when these revenues amounted to PLN 8.9 MM. The operating profit amounted to PLN 2.2 MM, showing a 261% growth, which means a double increase in comparison to operating profitability of Q1 2017.
The results show clearly that the company is growing strong, enjoying continuous revenue growth in the Services Segment.
Selvita’s Innovative Segment generated in Q1 2018 revenues amounting to PLN 2.8 MM vs PLN 16.4 MM. High dynamics of sales and operating profit in the innovation segment of the Group in Q1 2017 was mainly a result of SEL24 program commercialization.
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 81.8 MM. It is also worth noting that the Services Segment backlog in Q1 2018 represents growth of 39% in comparison to the same period of the previous year. The backlog in subsidies has generated a 149% increase.
In Q1 2018 Selvita Group recognized total operating revenues (incl. grants) of PLN 23.2 MM versus PLN 30 MM in Q1 2018.
Throughout Q1 2018, the net profit of the Selvita Group amounted to PLN 19.9 MM, reflecting a 269% growth compared to Q1 2017. High growth of the net profit in Selvita is a result of the increase of the capital in Nodthera Ltd.*
The summary of the Selvita Consolidated Quarterly Report for Q1 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/
* The increase of the capital in Nodthera Ltd. was the essential influence on Selvita’s result. The value of Selvita shares in the company increased by PLN 20.8 MM.