ROUNDUP: Evotec continues to grow and confirms forecasts – shares under pressure
Scientists at work with microscope and pipette (symbolic image). © Catalin Rusnac / iStock / Getty Images Plus / Getty Images
HAMBURG (dpa-AFX) – The drug researcher Evotec (Evotec share)
On the stock exchange, Evotec shares temporarily slipped by almost 5 percent on Thursday, but then managed to recover a little. Most recently there was a minus of around one and a half percent on the course slip. Investors currently seem to be looking for direction. After the paper had soared to a high since 2000 in mid-September, it is tending to decline despite the interim recovery.
The share had previously been given a boost by reports of successes on new and existing cooperations between the Hanseatic League. In particular, the multi-layered Allianz (Allianz share) with the US company Bristol Myers Squibb made the cash register at the Hanseatic people ring and therefore pleased investors.
Evotec only returned to the Nasdaq at the beginning of November after years of absence, as Anglo-Saxon investors are generally seen as more open-minded and more willing to invest in the biotech industry. This actually paid off temporarily in rising prices.
According to the final figures, Evotec was able to further accelerate its growth in the third quarter after an already strong first half of the year. Restrictions due to the Covid pandemic were only marginal, the company said, and there were no delivery bottlenecks either.
After nine months, the Group’s books show revenue from contracts with customers of a good 431 million euros, an increase of almost 20 percent compared to the previous year. The turnover was within the framework of the key data published a few weeks ago. This also applies to adjusted earnings before interest, taxes, depreciation and amortization (Ebitda), which came out at 70.1 million euros. The operating profit was thus around 9 percent below the previous year. According to the company, the decline is due to the expansion of capacities.
In the summer, under the aegis of its US subsidiary Just-Evotec Biologics, the MDax Group opened a production facility for biologically manufactured substances in Redmond, Washington State, on which company boss Lanthaler has high hopes due to the high price advantages for the industry. Another such system is being prepared in Toulouse, France.
However, high valuation income from investments saved Evotec’s bottom line: At just under 247 million euros, consolidated net income rose to a multiple of the previous year’s figure of 6 million euros.
According to the forecast that has been retained, Evotec intends to increase its sales to 550 to 570 million euros this year, after sales of just over half a billion euros last year. For this year, the operating profit is forecast to be between 105 and 120 million euros, compared to just under 107 million euros in the previous year./tav/mne/jha
|Short-term position in Evotec|
|with moderate leverage|
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