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Highlights

  • FY 2024 revenues grew by 2%, reaching €797.0 million amid mixed market conditions
  • Segment Just – Evotec Biologics revenue increased 71% year-over-year to €185.6 million
  • 2028 strategy targets EBITDA margin above 20% and annual cost savings over €50 million

Evotec SE (NASDAQ: EVO) has published its full-year 2024 financial results, along with its strategic roadmap through 2028. Following a comprehensive review process, the company announced a realignment to focus on core areas of scientific and technological expertise within drug discovery and biologics development.

Revenue for FY 2024 rose slightly to €797.0 million, up 2% from €781.4 million in 2023. Fourth-quarter revenue reached €221.2 million, a 10% increase year-over-year. Despite macroeconomic headwinds, the company delivered results in line with prior guidance.

Evotec’s biologics segment, Just – Evotec Biologics, recorded notable growth. Revenues in this segment increased by 71% to €185.6 million, driven by ongoing partnerships and demand for scalable manufacturing solutions. In contrast, revenues from the Shared R&D segment declined by 9% to €611.4 million, influenced by restructuring in the pharmaceutical sector and limited funding in biotech.

Adjusted Group EBITDA for 2024 was €22.6 million, down from €66.4 million the previous year. The drop was attributed to a revenue-cost mismatch in the Shared R&D segment. However, the “Priority Reset” initiative is on track to deliver over €40 million in annual EBITDA improvements, with an additional €50 million in cost reductions targeted by 2028.

Looking ahead, Evotec forecasts 2025 revenues between €840 and €880 million, with adjusted EBITDA projected to grow to €30–50 million. R&D expenditures are expected to remain in the €40–50 million range.

The company's strategic direction is anchored in simplifying its business model and emphasizing high-value therapeutic areas. Evotec also expanded or extended collaborations with Sandoz, Bristol Myers Squibb, Novo Nordisk, and Pfizer. These alliances are focused on advancing technologies in biologics, neuroscience, and cell therapies.

For 2028, Evotec projects a compound annual growth rate of 8–12% in revenue and an EBITDA margin exceeding 20%, reflecting a focus on operational efficiency and scalable partnerships.