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EVO Negative Sentiment Score: 30/100

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014 Ad hoc: Evotec SE provides guidance update Hamburg, Germany, - Evotec SE (Frankfurt Stock Exchange: EVT, MDAX/TecDAX, Prime St

Tuesday, August 6, 2024 2 min read
Key Takeaway: Evotec SE has announced an update to its guidance for the fiscal year 2024, indicating lower expectations for both revenue and adjusted EBITDA. The company forecasts group revenues between 790 - 820 million euros, significantly lowered from its previous guidance of low double-digit percentage growth. R&D expenditures are expected to decrease as well, reflecting a shift in financial strategy. The adjustments are attributed to slower sales order conversions and ongoing margin pressures.

Market Sentiment Analysis

CONCERNS & RISKS

  • The company has reduced its revenue guidance from low double-digit growth to low to mid-single digit growth for fiscal year 2024.
  • Research and Development expenditures are expected to decline, indicating potential scaling back on innovation.
  • Adjusted EBITDA guidance has also been lowered significantly, from expected growth to a range that suggests a mid double-digit percentage reduction.

Full Press Release Details

Disclosure of an inside information acc. to Article 17 MAR of
the Regulation (EU) No 596/2014
Ad hoc: Evotec SE provides guidance update
Hamburg, Germany, - Evotec SE (Frankfurt
Stock Exchange: EVT, MDAX/TecDAX, Prime Standard, ISIN: DE 000 566480 9, WKN 566480; NASDAQ: EVO) announces that it has refined
its guidance for the fiscal year 2024.
The Company expects Group revenues 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 EBITDA is expected to reach
15 - 35 m (mid double-digit percentage reduction vs previously mid double-digit percentage growth; 2023:
The primary drivers of lower revenue and adjusted EBITDA guidance are
related to the slower than anticipated conversion of sales orders into revenues and continued pressure on margins due to a still high
fixed cost base. However, the priority reset is fully on track and actions are underway to transform the business towards sustainable
- End of the ad hoc release -
Contact: Volker Braun, EVP Head of Global Investor Relations &
ESG, Evotec SE, Manfred Eigen Campus, Essener Bogen 7, 22419 Hamburg, Germany, Phone: +49 (0) 151 1940 5058 (m), volker.braun@evotec.com

Frequently Asked Questions

What is Evotec SE's revised revenue guidance for 2024?

Evotec SE expects Group revenues between 790 - 820 million for fiscal year 2024.

How much are R&D expenditures projected to be?

R&D expenditures are anticipated to be between 50 - 60 million for 2024.

What is the expected adjusted EBITDA for Evotec in 2024?

The company expects adjusted EBITDA to reach 15 - 35 million in 2024.

What are the main reasons for the guidance update?

Lower revenue and EBITDA guidance stems from slow sales order conversions and margin pressures.

Who can be contacted for investor relations at Evotec?

Volker Braun is the contact for global investor relations at Evotec SE.

Tags: EVO Viatris Investor Conferences Healthcare Evotec 2024 fiscal year revenue guidance adjusted EBITDA R&D expenditures
Last updated: Aug 6, 2024