Evotec SE Reports H1 2024 Results: A Transformational Period

Evotec SE has released its financial results for the first half of 2024, highlighting a challenging yet transitional period for the company. Total group revenues rose by 2% year-on-year to €390.8 million. However, there was a 7% drop in Shared R&D revenues, attributed to a difficult market environment. In contrast, Just – Evotec Biologics achieved a significant 50% increase in revenues, reaching €88.5 million.

The company faces high fixed costs, impacting profitability. Adjusted Group EBITDA fell to €(0.5) million from €33.9 million in the same period last year. To address these challenges, CEO Dr Christian Wojczewski announced an accelerated transformation, aiming to reset priorities for sustainable, profitable growth.

Strategic partnerships have also been a focus, with new collaborations signed with prominent organizations, including Owkin, Bayer, and Pfizer. The company expects annualized savings of at least €40 million in 2025 due to restructuring efforts, including headcount reduction and footprint optimization.

Looking ahead, Evotec projects group revenues in the range of €790-820 million for the full year. The company remains optimistic about its ability to navigate the challenging environment, stressing its commitment to innovation and strategic alliances.