Evotec SE(US:EVO)2024-11-06 13:50Financial Performance & Transformation - Evotec's 9M 2024 revenues decreased by 1% to €5757 million, compared to €5801 million in 9M 2023[18] - Shared R&D revenue decreased by 12% to €4470 million in 9M 2024[18] - Just – Evotec Biologics (JEB) revenue increased by 74% to €1287 million in 9M 2024[18] - Adjusted Group EBITDA for 9M 2024 was negative €60 million[18] - Discovery sales increased by 60% as of September 30, 2024, compared to the previous year[15] - JEB has experienced significant business expansion with commercial manufacturing[16] Strategic Initiatives & Cost Optimization - Evotec is implementing a priority reset program, expecting over €40 million in annual savings[9, 32] - The company has identified a reduction potential of approximately 400 roles, which is 8% of the total headcount[32] - Footprint optimization is advancing, with one-third of the planned reduction completed[9, 39] - The company is focusing on strengthening partnerships and has expanded collaborations with BMS and Sandoz[12, 34] Liquidity & Guidance - Evotec has a solid funding profile with a streamlined financing mix and long-term maturity profile[23] - The company's liquidity position as of Q3 2024 is €3033 million[23] - Evotec confirms its 2024 guidance, projecting group revenues between €790 million and €820 million and adjusted EBITDA between €15 million and €35 million[27]