Evotec SE Provides Guidance Update
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HAMBURG, GERMANY / ACCESSWIRE / August 6, 2024 / 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: € 66.4 m).
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 profitable growth.
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), [email protected]
SOURCE: Evotec SE
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