Evotec ADR

Evotec's share lost around 9.5% by midday on Wednesday, falling to €4.60, after the company issued a €125 million convertible bond and at the same time placed existing shares. The placement served as protection for investors and weighed on the price because of expected dilution effects if the bonds are converted into shares. In addition, speculative players such as hedge funds could subscribe to the bonds and short-sell shares as a hedge, which can create additional pressure. » Więcej na de.investing.com

Evotec reports a Q1 revenue drop of more than 20% to just under €157m, an adjusted EBITDA of -€21.9m (previous year €3.1m) and a net loss of around €122m. Weighing on results were high restructuring costs, one-off license income in the prior year, currency effects and a weak market environment in drug discovery. CEO Christian Wojczewski calls the development not surprising, sees early signs of recovery in order intake and confirms cost reductions including the closure of several sites and up to 800 job cuts. Evotec keeps its 2026 guidance (revenue €700–780m, adjusted EBITDA €0–40m) and targets long-term revenue >€1bn and an adjusted operating margin above 20% by 2030. » Więcej na finanzen.net

Paul Hitchin resigns after just 14 months as chief financial officer; Claire Hinshelwood will take over the role on May 1. MAK Capital is calling for a standalone IPO of the US subsidiary Just Biologics and an accelerated pace of restructuring. Goldman Sachs also holds a significant position among shareholders. Evotec has declared 2026 the year of restructuring, but now needs to deliver concrete results to ensure the recent share-price recovery holds. » Więcej na finanzen.net