Evotec provides guidance update

EQS-News: Evotec SE / Key word(s): Miscellaneous Evotec provides guidance update 06.08.2024 / 21:07 CET/CEST The issuer is solely responsible for the content of this announcement.   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, 06 August 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). The Shared R&D segment faced the anticipated challenging environment in the first half with a year-over-year revenue decline at a high single digit rate. Gross margin showed modest improvements in Q2 versus Q1, but adjusted EBITDA was influenced by a still high fixed cost base.