Full Year 2024 Evotec SE Earnings Call Transcript
Key Points
- Evotec SE (EVO) reported strong Q4 2024 results, marking the second-best quarter ever in terms of revenue, with significant operational leverage.
- The company successfully strengthened partnerships with major players like Sandoz, Bristol Myers Squibb, Novo Nordisk, Pfizer, and Bayer, paving the way for long-term growth.
- Just - Evotec Biologics saw a 71% revenue growth in 2024, driven by a strong order book and new deals.
- Evotec SE (EVO) implemented a priority reset, achieving EUR40 million in run rate savings, which will be fully visible in 2025.
- The company is focusing on technology and science leadership, leveraging AI and next-generation technologies to enhance drug discovery and development processes.
- Shared R&D revenue declined from EUR673 million in 2023 to EUR611 million in 2024 due to a persisting soft market.
- The company faced a challenging year with a high fixed cost base and slow market demand for its R&D segment.
- Evotec SE (EVO) anticipates continued softness in the biopharma market throughout 2025, with a potential tipping point for growth not expected until the second half of the year.
- The company is not planning to invest in a new J.POD facility during the current planning horizon, indicating a cautious approach to capital expenditure.
- There are concerns about the indirect impact of potential budget cuts in the US on innovation and the biotech industry, which could affect future growth.
Ladies and gentlemen, Welcome to the Evotec SE full-year result 2024 analyst call. I am Yousef, the call operator. I would like to remind you that all participants will be in listen-only mode and that this conference is being recorded. (Operator Instructions)
At this time, it's my pleasure to hand over to Volker Braun. Please go ahead.
Thank you, Yousef, and a warm welcome to all of you following our webcast today. We will cover fiscal year 2024 results, and we'll also share our 2025 guidance before we will be guiding you through the results of our strategic review process and share our midterm outlook with you.
Before we do that, it's my duty to point to the cautionary language which you find on page 2 and the second housekeeping item is to mention that this call is scheduled for up to two hours.
It's now my pleasure to hand over to Christian Wojczewski who will guide you through today's call.
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