Evotec SE : Weak start to 2024 was expected – but JEB surprised on the upside
>Weak Q1 was clearly driven by a challenging environment for Shared R&D - At the group level, Evotec showed the expected weak start to 2024. Group revenue declined by 2% to € 209m vs our expectations of € 198m and a consensus of € 195m. Group adjusted EBITDA came in at € 7.8m (-77%) vs our estimates of € 12m and a consensus of € 15m. For the first time the company reported according to its new structure with its two reporting units “Shared R&D” and “Just-Evotec Biolo...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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