Evotec SE(US:EVO)2023-11-11 18:30Financial Performance & Guidance - Evotec reported a 14% revenue growth in 9M 2023, reaching €580.1 million compared to €510.8 million in 9M 2022, driven by Precision Medicine and Biologics[19, 29, 43] - Adjusted Group EBITDA increased by 13% to €50.2 million in 9M 2023, compared to €44.6 million in 9M 2022, impacted by missed opportunities in Q2 and normalization in Q3[19, 29] - Just - Evotec Biologics (JEB) revenues grew by over 160%, reaching €74.1 million in 9M 2023, compared to €27.9 million in 9M 2022, boosted by the Sandoz alliance and a second Department of Defense (DoD) contract[19, 29, 43] - The company reaffirms its 2023 revenue guidance at €750-790 million, despite an approximate €70 million one-off effect[20, 32] - Adjusted EBITDA guidance is set at €60-80 million, mitigating a large part of the approximate €90 million one-off effect[37] Strategic Developments & Partnerships - A major collaboration agreement was established with BMS in Neurodegeneration in June[29] - A Tech-Alliance was formed with Sandoz in May, and a second agreement was secured with the U S Department of Defense in July, validating Just – Evotec Biologics[29] - The company is progressing with pipeline building with partners, including Bayer, BMS, JingXin, Conba, Kazia, and Exscientia[29] - Together with Novo Nordisk, Evotec created "LAB eN²" to translate academic research in cardiometabolic diseases and rare disorders, initiating 65LAB in Singapore[29] Pipeline & Operations - PanOmics-based revenues experienced a growth of approximately 70%[43] - The company has >140 co-owned projects[45] - The construction of the J POD Toulouse is on track for completion in H2 2024[29, 49] ESG & Sustainability - Science Based Targets initiative (SBTi) has validated and approved near-term emission reduction targets[29, 54] - Evotec commits to 100% renewable electricity by 2026 and a 50 4% reduction of Scope 1 and 2 emissions by 2032[75]