Evotec AG (EVO) has released an update.
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Evotec AG faced a challenging first quarter in 2024, with a slight revenue decrease and a significant drop in Shared R&D revenues, but saw a strong performance in its Just – Evotec Biologics segment, which surged by 383%. The company is undergoing a strategic transition to focus on profitable growth, including a CEO change and operational streamlining to improve annual EBITDA by over €40 million. Despite the initial setbacks, Evotec anticipates a recovery in revenue towards the end of the year and predicts full-year growth in group revenues and adjusted EBITDA.
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