Evolva has released its financial results and business highlights for FY 2018.
Sales reached CHF 3.4 million, a whopping 70% increase over the previous year.
“Evolva achieved substantial progress across the board in 2018,” said CEO Oliver Walker. “We have put our house in order, adding a clear customer focus on top of our strong basis in research and development. We have at the same time improved our financial profile, paving a more solid road towards profitability.”
2018: Highs and … More Highs
Reserveratrol continued to see “solid growth,” with branded product launches in the U.S. and Europe. The company also introduced two new products—a high-purity valencene and a new variant of nootkatone. Partner IFF widened the range of blend containing Evolva vanillin, though “volumes remain low in comparison to original expectations and market potential.”
Looking Forward
“We are excited about our prospects going into 2019,” added Walker. “We expect a growth acceleration for the EverSweet product and a U.S. registration for nootkatone in pest control. These milestones will enhance the opportunities to unlock significant additional income streams for Evolva. And, last but not least, we have several new products in late stage development which could potentially go to market in the foreseeable future.”
