Evotec SE : H1 even weaker than expected – cash burn less alarming than it seems at first glance
>H1 results below already cautious expectations - Evotec’s H1 results came in below already cautious expectations. H1 2024 sales of € 391m (+1.5%) were 1% below our (€ 393m) and 5% below the consensus estimates (€ 412m). The group’s gross profit of € 51m (-49%) is 18% below our estimates and 21% below the consensus. Adj. EBITDA came in at a loss of -€ 0.5m (vs € 26m in H1 2023), which compares to our estimate of € 9m and the consensus of € 12m.Just Evotec Biologi...Evotec is a holding company engaged as a drug discovery solutions company providing drug discovery capabilities to pharmaceutical and biotechnology companies as well as to academic institutions. These drug discovery solutions are provided in form of fee-for service work, integrated drug discovery alliances, development partnerships, licensing of drug candidates and consulting arrangements. Co. is primarily involved in the areas of neuroscience, pain, metabolic diseases, oncology and inflammation. Co. provides its drug discovery activities under the banners of EVT Execute, EVT Integrate and EVT Innovate. Co.'s operations are divided into two segments: EVT Execute and EVT Innovate.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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