evotec
German pharmaceutical company Evotec reported a "challenging" first quarter as it revealed a loss from the same period last year. Group revenues decreased by 2%, excluding currency effects, to €208.7 million ($226.6 million) from €213.6 million last year. Adjusted EBITDA totalled €7.8 million, compared to €34 million previously. The Hamburg-based firm, which specializes in drug discovery and development, expects group revenue to grow by "a double digit percentage" for the year, after coming in at €781.4 million in 2023. Laetitia Rouxel, chief financial officer, said on Wednesday that despite t...
DPA
New collaborations at the German drug maker Evotec are in part behind Wednesday's report of a rise in full-year revenue, the company said. The group has announced a priority reset, which is expected to result in an annualized Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) improvement of over €40 million ($42.8 million), the company said in a statement. Mario Polywka, chief executive of Evotec, said: "Evotec's business displayed great resilience in a challenging market environment. Our central focus for 2024 is to protect our strong balance sheet and refocus the company...
DPA
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