Evotec SE Sponsored ADR (EVO)

Evotec Provides Guidance Update

Navigating through a challenging H1 2024: Unsatisfying revenue dynamics in Shared R&D; Just - Evotec Biologics with mid double-digit revenue growth versus strong comparable basis Adjusted EBITDA impacted by high fixed cost base in Shared R&D and ramp-up costs for J.POD Toulouse, France Further strengthened sales order book in Discovery is basis for a moderate growth acceleration in H2 2024; conversion of orders into revenues taking longer than anticipated Reset towards sustainable profitable growth starts getting traction and will be enhanced to make Evotec more agile in a still challenging market environment HAMBURG, GERMANY / ACCESSWIRE / August 6, 2024 / Evotec SE (Frankfurt Stock Exchange:EVT; MDAX/TecDAX, ISIN: DE0005664809; NASDAQ:EVO) today announced that it has refined its guidance for the fiscal year 2024. For the current fiscal year, the Company expects Revenues1 in the range of € 790 - 820 m (low to mid-single-digit percentage growth vs previously low double-digit percentage growth; 2023: € 781.4 m); R&D expenditures are expected in a range of € 50 - 60 m (low double-digit percentage reduction vs previously mid-single to low double-digit percentage reduction; 2023: € 64.8 m); Adjusted EBITDA1 is expected to reach € 15 - 35 m (mid-double-digit percentage reduction vs previously mid double-digit percentage growth; 2023: € 66.4 m).