Selvita Group announces dynamic increase in revenue for the third quarter of 2021 YTD

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KRAKOW, Poland, November 24, 2021 / PRNewswire / – Selvita (WSE: SLV) – one of the largest preclinical contractual research organizations in Europe continues its dynamic development. Following the acquisition of Fidelta, the Selvita Group achieved a doubling of its turnover during the three quarters of 2021 compared to the corresponding period of the previous year.

Increase in the size of operations with a very good margin

The Selvita Group continued its dynamic development in each segment of its activity. Commercial income from services performed in Poland amounted to 22.8 million euros and were 23% higher than the three quarters of 2020, when they were € 19.1 million. In the third quarter alone, these revenues increased by up to 32% year-on-year to reach 8.5 million euros. This dynamic growth is the result of developments in the field of drug discovery services and the stabilization of the regulatory studies market.

Fidelta, representing the segment of services performed in Croatia, checked in € 20.0 million in customer revenue over the first three quarters of 2021, with EBITDA of 6.1 million euros (30.5% margin). In the third quarter of 2021, Fidelta reached € 7.0 million of sales (an increase of 34% y / y) and an EBITDA of 2.2 million euros (a margin of 31.4%).

The bioinformatics segment (Ardigen) closed the three quarters of 2021 with 4.8 million euros of customer revenues, compared to 2.8 million euros, in the corresponding period of 2020, showing a 72% increase in EBITDA amounted to 1.2 million euros (23.8% margin) and was 53% higher than the previous year. In the third quarter of 2021 alone, customer revenues amounted to 1.9 million euros (an increase of 57% y / y), and EBITDA of 0.6 million euros (a margin of 31.4%).

The period under review shows continued growth in sales of services in foreign markets. With the acquisition of Fidelta, we see a significant increase in revenue from sales to customers in the EU and Switzerland, where the Croatian company generates most of its income. At the same time, the continued organic development of Selvita and Ardigen is the source of the significant increase in turnover from sales to customers in United States and UK.

After the three quarters of 2021, revenue in the United States, the most competitive market in the world, increased 89% year-on-year to 13.5 million euros. The Selvita Group also recorded a significant increase in its turnover in the United Kingdom, which increased by 128% year-on-year.

– The first nine months of 2021 have been an intense period for us. Since the beginning of the year, we have been working on the integration of the Selvita and Fidelta service offer. We want to make the most of the experience and capabilities we have acquired following the acquisition of Fidelta, in order to further develop the Group’s service portfolio.

We are satisfied with the financial results achieved in all business sectors. In the third quarter, revenue from services performed in Poland increased by 32% year-on-year, Fidelta maintains high profitability and Ardigen maintains the highest growth momentum in the Group – comments Bogusław Sieczkowski, co-founder, major shareholder and CEO of Selvita.

In order to ensure the continuous dynamic development of the Company in the years to come, we are constantly strengthening our team and investing in research infrastructures. In July of this year, we started the construction of the Selvita research center in Krakow, at the same time, the adaptation of more than 2,000 m² additional Zagreb is nearing completion, and we also plan to increase space in our current locations by Krakow and Pozna. We continue to strengthen our research and sales teams because we are convinced that the best employees are the key to our success and our development.

The strong growth in contracting in all business segments allows us to look to the future with optimism. We do not intend to slow down and plan to continue our organic growth, as well as through acquisitions, adds Sieczkowski.

The Selvita Group’s order book for 2021 currently stands at 65.1 million euros, which indicates an increase of 22% y / y, including the organic backlog (excluding Fidelta) which increased by 29% compared to the same period last year.

About Selvita [SLV]

Selvita is a preclinical contract research organization providing multidisciplinary support to solve the unique research challenges of drug discovery, regulatory studies, as well as research and development.

The Selvita group includes Ardigen, a bioinformatics company harnessing advanced artificial intelligence methods for new precision medicine, and Fidelta, a drug discovery services company specializing in infectious diseases, inflammation and fibrosis.

The Selvita Group, established in 2007, operates worldwide with more than 800 highly qualified employees, over 40% of whom hold doctorates. degree. The Company’s research sites are located in Krakow (QG) and Poznan, Poland, as good as Zagreb, Croatia (Fidelta). All Group companies offer highly synergistic technologies and services. International offices are located at Cambridge, MA, and San Francisco Bay Area, in the United States, as well as in Cambridge, UK.

Selvita is listed on the Warsaw Stock Exchange (WSE: SLV). For more information, please visit www.selvita.com.

SOURCE Selvita


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