Record results (2017) for Evotec, yet shares decline 8% due to 2018 guidance

Hamburg, Germany-based Evotec has published today its 2017 financial results, which have disappointed investors, who have lost interest in the company’s shares, which have declined by almost 8%. Evotec’s revenues have increased by 57% in 2017, reaching €257m, especially thanks to the acquired Cyprotex and Aptuit, respectively paid €24.5m and €45.9m, and to the large number of cooperation agreements with large pharmaceutical groups. The company’s EBITDA has increased by 60%, to a record €58m. By contrast, net profit was below expectations–11%, whereas analysts expected 18%. 2018 guidances have disappointed experts: Evotec’s management expects a growth 30% below 2017. Evotec has important projects underway with Bayer (endometriosis and kidney diseases), Celgene (neurodegenerative diseases) and Sanofi. Importantly, the partnership with Sanofi is aimed at developing treatments for infectious diseases and has already fetched Evotec €60m.

(Source: Handelsblatt)