- PUBLICATION OF ANNUAL REPORT 2022: “AHEAD OF THE CURVE”
- QUALITATIVE QUARTERLY STATEMENT FOR THE FIRST QUARTER OF 2023
- GUIDANCE FOR FY2023 AND MID-TERM GUIDANCE FOR 2025 UNCHANGED
Hamburg, Germany, 12 May 2023:
Evotec SE (Frankfurt Stock Exchange: Prime Standard, ISIN: DE0005664809; NASDAQ: EVO) today published its Annual Report for the fiscal year 2022, as well as the qualitative Quarterly Statement for the first quarter of 2023.
Evotec’s fully audited Annual Report 2022 “Ahead of the Curve” is now available for downloading on www.evotec.com/financial-reports. Evotec had published preliminary financial results for FY2022 already on 28 March, which have remained unchanged. The publication of the final document had to be postponed after Evotec became the victim of a criminal cyber-attack that was discovered in early April.
Evotec also published a qualitative Quarterly Statement for the first quarter of 2023 today. Since the cyber-attack was discovered after the end of the first quarter, the Company’s Q1 results remain materially unaffected and saw a very strong start to the year with several deal extensions and expansions, e.g. a multi-billion-US$ extension of the Company’s neuroscience partnership with Bristol Myers Squibb, and the announcement of new partnerships, e.g. with Janssen in the field of immune-based therapies. Scale and scope of these transactions were materially larger than in the comparable period 2022.
Guidance for FY2023 remains unchanged. Evotec expects revenues in the range of € 820 – 840 m (€ 835 – 855 m at constant fx-rates) and adj. EBITDA in the range of € 115 – 130 m (€ 125 – 140 m at constant fx-rates).
Supported by the new long-term alliance with Sandoz in the field of biosimilars that was announced earlier this week, Evotec sees itself well positioned to achieve its mid-term targets of “Action Plan 2025”, i.e. revenue growth to >€ 1,000 m, adjusted EBITDA of ≥€ 300 m and unpartnered research and development expenses of >€ 100 m by 2025.
In response to the criminal cyber-attack, Evotec took immediate action to contain and remediate the attack by taking its external-facing systems offline. This was deemed necessary to protect all of the Company’s partners and stakeholders. Evotec expects a fast return to full productivity, and business recovery. However, it cannot be ruled out that there could be a potential impact on the aforementioned guidance. Management will continue to monitor the situation and provide updates in subsequent reporting.
The Company will provide the next update on the financials – including an analysis of Q1 2023 developments – with the publication of the Half-Year Report 2023 that will be published on 09 August 2023.
With the publication of the audited Annual Report 2022 made today, Evotec expects to fulfil the criteria to be reinstated by Deutsche Börse/Qontigo in the relevant stock indices (MDAX, TecDAX, Prime All Share, LTecDAX, Technology All Share and CDAX). The Company anticipates the re-entry on 19 June on the grounds of the Fast Entry evaluation due on 05 June.
On 05 June 2023, Evotec will hold an ESG Capital Markets Day and present the Company’s strategic guardrails for a resilient business that remains “ahead of the curve” – even in times of global uncertainty. The ESG Capital Markets Day will be held as a virtual and invitation-only event. A recording of the broadcast will be available on www.evotec.com in the days after the event.