Money Buzz! Europa

Tag: Selvita

  • Selvita revenues at EUR 15.2 million, up by 47% on a year-on-year basis

    Selvita revenues at EUR 15.2 million, up by 47% on a year-on-year basis

    For the H1 2020, Selvita reports consolidated revenues of EUR 15.2 million, up by 47% on a year-on-year basis. The EBITDA result reached EUR 3.6 million, compared to EUR 2.4 million a year earlier.

    The backlog for 2020, as of September 7, amounts to EUR 27.6 million and indicates an increase of 39%, as compared to the values reported a year ago.

    The company’s net profit in the first half of the year amounted to EUR 2.1 million, compared to EUR 1.1 million for a corresponding period last year.

    Selvita revenues increased in both segments

    Commercial revenues in the Services Segment increased in H1 2020 to EUR 12.5 million, showing a 51% increase, compared to EUR 8.6 million in the corresponding period last year.

    The EBITDA result of the Services Segment amounted to EUR 3.2 million, which indicates a 23.8% profitability.

    Revenues in the Bioinformatics segment (Selvita’s subsidiary – Ardigen S.A.) amounted to EUR 2.0 million in 1H 2020, indicating a 43% increase compared to the same period last year.

    The EBITDA result increased by 217% and amounted to EUR 0.4 million, with a margin of 20,1%.

  • Selvita raised over EUR 20 million in a follow-on public offer

    Selvita raised over EUR 20 million in a follow-on public offer

    • Selvita successfully allotted 2.38 million of C series shares, raising EUR 20.6 million from investors.
    • It is the second largest transaction in terms of capital raised, on the Warsaw Stock Exchange this year.

    As part of the Follow-On public offering of shares, investors could buy up to 2.38 million shares of the new C series, which constitutes about 15 percent of the current company’s share capital.

    The issue price of the shares was set at PLN 38,00. Selvita has achieved in full its intended goal regarding capital raise that was presented in the strategy published together with the announcement of the shareholders’ meeting.

    The capital raised will allow the company to execute the development strategy adopted for the upcoming years which assumes that in 2023 it will be able to achieve over EUR 70 million in revenues at a stable EBITDA margin and as a consequence reach a market cap of over EUR 230 million.

    The proceeds from the share issue will be used mostly on acquisitions of selected European CROs (app. 16 million EUR), and the reminder of the proceeds will be devoted to further organic growth of Selvita.

    Selvita, interested in acquisitions

    Selvita is interested in companies which will either complement the current offering, or will allow for the expansion of its scale of operations.

    In terms of the qualitative criteria for choosing the acquisition target, Selvita will favor entities supplementing their portfolio of services in the area of drug discovery or regulatory studies.

    By the end of 2023, the company intends to execute three acquisitions, with the first one taking place this year.

    Over the next three years, the Company plans to invest EUR 35-50 million in the acquisitions.

    Selvita Research Center to be finalized at the turn of 2022 and 2023

    As a key element supporting further organic growth, Selvita strategy includes establishment of the Selvita Research Center, with a research space of 4,000 m2.

    With the completion of the new Center, Selvita will have in aggregate 10,000 m2 of research space available.

    Initiation of the investment is planned for next year and expected to be finalized at the turn of 2022 and 2023.