Evotec rises on new midterm outlook and strategy overhaul

Evotec SE

17/04/2025 08:42

** German drug development firm Evotec EVTG.DE rises 4% after the company gave its 2028 outlook ahead of estimates and refocused its strategy towards more profitable segments

** It expects to reach an adj. EBITDA margin of above 20% by 2028, above analysts expectations of 18.7% according to a company provided consensus

** It also intends to refocus its activities towards drug discovery and pre-clinical development

** Although guidance seems conservative, "we do believe that the renewed focus on profitable services turns the company in the right direction," analysts at Kempen Daily say

** Shares were trading up 4% at 07:31 GMT on top of the German mid-cap index .MDAXI, after rising as much as 10.8% earlier

($1 = 0.8800 euros)

 (Reporting by Isabel Demetz)

 ((Isabel.demetz@thomsonreuters.com))