Evotec SE : Slight miss at the adj. EBITDA level – 2024 guidance not helpful at this stage
>2023 adj. EBITDA slightly below expectations - Evotec reported FY 2023, with revenue broadly in line with expectations at € 781.4m (+4%) vs cons of € 784.9m and our estimates of € 784.8m. The company’s adjusted EBITDA of € 66.4m (-34.7%) was within its guidance of € 60-80m but slightly below cons of € 69m and below our estimates of € 69.4m.2024 guidance not helpful at this stage - For 2024 the company is guiding a double digit increase of its top li...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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