HAMBURG (dpa-AFX) - Hamburg-based drug discovery and development company Evotec aims to return to profitable growth after a difficult year. In 2024, sales and adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) are expected to increase by a double-digit percentage, the Group announced on Tuesday on the occasion of the presentation of its financial figures for 2023. The Hanseatic company intends to cut its expenditure on in-house research and development projects. This year, these are to fall by a mid-single-digit to low double-digit percentage.

In the recent past, Evotec has had to contend with high costs due to the expansion of its production, among other things. In the spring of 2023, a hacker attack caused a great deal of damage. In addition, long-time CEO Werner Lanthaler unexpectedly resigned at the beginning of 2024. Christian Wojczewski is now set to lead the Group back into calmer waters. The appointment of the manager, who was most recently head of Mediq and Linde Healthcare, was only announced by Evotec the previous evening. The chemist will take up his new position on July 1./tav/mis

is focusing on a new direction after difficult times. After last year's hacker attack, the

The aim is to optimize the business in order to meet the changing market demand, according to a Group statement on Wednesday on the occasion of the presentation of the figures for 2023. The Hanseatic company wants to refocus on profitable growth in the current year and beyond. This task is now likely to be a

Adjustments are also planned for the large companies and locations. These are expected to have a positive impact of more than EUR 40 million per year on the operating result in future. The Group also announced an updated medium-term forecast for the presentation of the next half-year report.

Last year, Evotec had to contend with the serious consequences of a hacker attack and had to cut its annual targets in the summer. Although sales climbed by four percent to EUR 781.4 million in the twelve months under review, earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) adjusted for the one-off effects of the cyberattack fell to EUR 66.4 million after EUR 101.7 million in the previous year. The result was therefore even worse than analysts had feared./tav