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Highlights

  • Q1 2025 revenues decreased by 4%, totaling €200 million, in line with expectations
  • Just - Evotec Biologics saw an 11% increase in external revenues
  • Guidance for full-year 2025 projects group revenues of €840 - 880 million

Evotec SE (NASDAQ: EVO) has reported its financial results for Q1 2025, showcasing a solid start to the year despite challenges in the drug discovery market. The company achieved revenues of €200 million, a 4% decline compared to Q1 2024, aligning with their expectations. Notably, Evotec Biologics contributed positively, with a continued 11% growth in external revenues, reflecting the division's expanding role as a technology provider in the biotech sector.

The company's adjusted EBITDA for the first quarter totaled €3.1 million, slightly ahead of plan despite a decrease in overall revenues. This was primarily driven by favorable phasing of work packages at Just - Evotec Biologics. Evotec’s shared R&D external revenues dropped by 9%, totaling €140.6 million, primarily due to a soft market environment in early drug discovery. However, the positive performance in biologics mitigated the impact of the overall market conditions.

In line with their strategy to focus on sustainable profitable growth, Evotec has strengthened its partnerships and signed new collaborations. This includes significant achievements in the molecular glue degraders pipeline, a strategic partnership with Bristol Myers Squibb (BMS), and a grant from the Korean government to develop novel treatments for lung diseases.

For the full-year 2025, Evotec has revised its revenue guidance to between €840 million and €880 million, with adjusted EBITDA expected to range from €30 million to €50 million. Looking further ahead, Evotec targets a compound annual growth rate (CAGR) of 8% to 12% for revenues through 2028, with an adjusted EBITDA margin expected to surpass 20% by that year.