Half Year 2024 Evotec SE Earnings Call Transcript
Key Points
- Evotec SE (EVOTF) reported a 2% increase in Group revenues to EUR390.8 million for the first half of 2024.
- Just - Evotec Biologics saw a significant 50% revenue growth, reaching EUR88.5 million.
- The company has a strong order book, with Q2 2024 being one of the best quarters in terms of closed sales.
- Evotec SE (EVOTF) has secured various new partnerships, including with the US Department of Defense, Pfizer, and Bayer.
- The company is making progress on its priority reset program, aiming for EUR40 million of gross savings fully effective in 2025.
- Adjusted EBITDA for the first six months was minus 0.5% compared to EUR33.9 million in the first half of the previous year.
- Total shared R&D revenues decreased by 7% to EUR302.4 million.
- The company is facing a challenging market environment with no new signals of recovery expected within 2024.
- Evotec SE (EVOTF) has a high fixed cost base in relation to the current revenue profile, impacting short-term profitability.
- Costs related to the ramp-up of the new J.POD facility in Toulouse are higher than initially planned.
Ladies and gentlemen, welcome to the Evotec SE Half Year Report 2024 Conference Call. I am Udith, the Chorus Call Operator. I would like to remind you that all participants will be in listen-only mode and the conference is being recorded. The presentation will be followed by a Q&A session. [Operator Instructions] The conference must not be recorded for publication or broadcast.
At this time, it's my pleasure to hand over to Mr. Volker Braun. Please go ahead, sir.
Thank you, Udith, and good day, good morning to all of you attending our H1 2024 results call today. I trust that you all have seen our press release this morning and that you have had a chance to take a look into the report already which we will discuss in more detail in the coming hours.
Before we go there, it's my obligation to make you aware of the cautionary language as outlined on Page 2. But now I would like to hand over to Christian Wojczewski, our CEO, to guide you through the deck
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