India, Aug. 14 -- Evotec SE (EVTCY.PK, EVOTF.PK), a German drug discovery and development company, reported Wednesday that its first-half net result declined to 10.7 million euros from last year's 17.9 million euros.

Evotec's operating result, however, increased to 24.0 million euros from 21.7 million euros a year ago, positively impacted by reimbursed R&D expenses from Sanofi and R&D tax credits.

Adjusted Group EBITDA climbed 51 percent to 58.2 million euros from prior year's 38.6 million euros.

The results reflected mainly the strong performance in the base business, considerably higher milestone and licence contributions, and effects from the first-time application of the new accounting standard IFRS 16. Adjusted EBITDA margin was 28....