Full Press Release Details
Announces Fourth Quarter and Full-Year 2025 Results: Foundation for Profitable Growth
Hamburg, Germany, April 8, 2026 -
Evotec SE (NASDAQ: EVO; Frankfurt Prime Standard: EVT) today announced financial results for the fourth quarter and full-year 2025, recapping
performance at the high end of guidance and robust execution across strategic partnerships and outlining initial measures implemented
in support of the Horizon operating model transformation announced March 10, 2026.
Dr. Christian Wojczewski, Chief Executive
Officer of Evotec said:
"In a year of disciplined execution, Evotec
delivered solid full-year 2025 financial results. We are now undergoing a multifaceted transformation designed to advance our performance
on multiple fronts, creating a more agile, value-focused and commercially dynamic company. We are taking these steps in the face of a
challenging operating environment, with an eye toward greater speed, sharpened scientific and commercial capabilities and a new phase
of growth around high-value services and partnered assets. As a result, 2026 will be a transitional year, with improvements expected
to become apparent in the second half and a clear path to stronger performance in 2027 and beyond."
Selected Business Highlights
Drug Discovery and Preclinical Development
Evotec delivered robust performance across its
key strategic partnerships:
The jointly developed CELMoD
molecular glue candidate BMS-986506 progressed from IND acceptance (Nov 2025) into a Phase 1 clinical study (Mar 2026)
in renal cell carcinoma. This milestone validates the strength of Evotec's PanOmics screening and PanHunter AI-supported analytics.
Evotec received milestone payments of $5 and $10 million, respectively. The collaboration continues to advance a broad pipeline of novel
molecular glue candidates.
partners achieved further progress across a joint preclinical neuroscience pipeline aimed at the discovery and development of disease-modifying
therapies for neurodegenerative diseases. The progress was accompanied by a $25 million milestone payment (Oct 2025). The portfolio
features innovative programs including BMS-986419, which has completed Phase 1
partner Bayer initiated a Phase 2 clinical study (Dec 2025)
for a jointly developed program targeting Alport syndrome, a rare genetic kidney disease with high unmet medical need. This advancement
reflects the robustness of Evotec's discovery and translational capabilities in renal conditions.
Just - Evotec Biologics (JEB)
JEB continued to refine its business model and deliver strong momentum
across strategic initiatives:
Evotec secured a multi-year BioMaP-Consortium
award valued at up to $10 million to optimize the biomanufacturing of monoclonal antibodies against Ebola and Sudan viruses (Mar 2026).
The program leverages JEB's proprietary continuous manufacturing platform to deliver high-yield, scalable and cost-efficient processes
that strengthen U.S. preparedness for hemorrhagic fever outbreaks.
Evotec received a new Gates Foundation
grant to advance global access to affordable biotherapeutics by applying its AI- and computation-driven J.MD molecular design
platform (Jan 2026). The funding supports 10 new projects over three years aimed at improving monoclonal antibody developability
to reduce cost of goods and accelerate development for high-priority global health indications.
closed a landmark transaction with Sandoz (Dec 2025) comprising more than $650 million
in consideration for the sale of the Toulouse biologics site and a license to Evotec's continuous manufacturing technology with
development revenues and potential milestone payments for up to 10 biosimilar molecules. In addition, Evotec is eligible for royalties
on these molecules, representing further long-term value potential. The transaction supports a CAPEX-lighter business model while enabling
continued participation in high-growth biosimilar markets.
expects to receive approximately $100 million in upfront consideration
from Tubulis' sale to Gilead Sciences (Apr 2026), with closing anticipated in Q2 2026 subject to customary conditions. Evotec
is also eligible for up to $58 million in milestone-based contingent
payments reflecting its equity stake. The transaction marks the fourth successful monetization from Evotec's investment portfolio.
Horizon Implementation
Announced in March 2026, Horizon marks
a decisive step in the company's evolution by implementing a new and focused operating model built across the three pillars of
operations, science and commercial execution.
Initial actions include the reduction of Evotec's
global footprint to 10 sites, simplifying operational structures and strengthening the cost base. In parallel, Evotec is establishing
Centers of Excellence to consolidate and integrate scientific expertise and innovation infrastructure in key therapeutic and technology
areas. In commercial operations, new leadership is driving faster decision-making, clearer accountability and enhanced customer responsiveness.
Horizon is expected to deliver approximately
75 million in structural run-rate cost savings by the end of 2027. Additionally, improved capital discipline and a shift toward
higher-value, technology-driven activities will support an improved operating leverage and sustained margin expansion.
Leadership Update: Chief Commercial Officer
has appointed Dr. Ashiq H. Khan as Executive Vice President Chief Commercial Officer (Apr 2025). This central role strengthens
the company's commercial function and directly addresses the commercial execution pillar of Horizon. Dr. Khan will spearhead the
development of a globally integrated, fit-for-purpose commercial organization, accelerating growth and enhancing customer engagement
and go-to-market effectiveness. Dr. Khan brings more than 15 years of international leadership experience across biotech, CRO, and AI-driven
platform businesses, having secured over $7 billion in strategic
agreements across the U.S., EU and APAC.
Governance Update: Chairman of the Supervisory
Supervisory Board has nominated Dieter Weinand, for election as Chairman at the 2026 Annual General Meeting (Apr 2026).
A recognized industry veteran with more than 30 years of global pharmaceutical leadership, Mr. Weinand brings deep commercial, operational
and strategic expertise from senior roles at Bayer Pharmaceuticals, where he served as President, CEO and Chairman, as well as from leadership
positions at Pfizer, Bristol Myers Squibb and Sanofi. His extensive board and governance experience across multiple international biopharmaceutical
companies, combined with a track record of leading worldwide product development and commercialization, will provide valuable strategic
oversight as Evotec advances its transformation, strengthens partnerships and focuses on long-term value creation.
Paul Hitchin, Chief Financial Officer of Evotec
"Evotec's 2025 financials reflect
the benefits of the cost discipline transformation we began two years ago, which yielded annualized structural savings of 60 million,
significantly exceeding our initial target. With the implementation of Horizon now beginning, 2026 will be a transition year marked by
further steps that will put the business on structurally sounder footing, with improved profitability and cash generation from 2027 onward."
For the fourth quarter of 2025, Group revenues
amounted to 253.3 million ( 266.7 m CER) compared to 221.2 million in the same period in 2024, representing a 14% increase
and robust year-end performance across Evotec's business segments. Adjusted Group EBITDA was 58.0 million, reflecting an
increase of 103% versus 28.5 million in the same prior-year period, driven by a 65 million incremental contribution from
the license payment recorded in the JEB segment under the Sandoz agreement closed in December 2025.
For the 12 months ended December31, 2025, Evotec
delivered financial results well within the previously communicated guidance ranges, generating Group revenues of 788.4 million
( 810.4 million CER), a modest 1.1% decline versus 797.0 million in full-year 2024. R&D expenses were managed
in line with the Company's focus on cost discipline during 2025, decreasing to 37.5 million (4.8 % of total Group revenues)
compared to 50.9 million in the prior year. Adjusted Group EBITDA increased significantly to 41.1 million ( 52.3 million
CER), up from 22.6 million for full-year 2024, primarily driven by successful cost-out measures implemented across 2025 and the
Sandoz license payment recorded in the JEB segment in the fourth quarter.
closed 2025 with a solid liquidity position of 476 million,
reflecting a net cash position at year-end. The improvement in liquidity was driven by disciplined financial execution, including the
monetization of technology-driven revenues within Just - Evotec Biologics, value realized from equity divestments and continued
progress toward a CAPEX-lighter operating model, with a CAPEX reduction of 38% year-on-year.
Drug Discovery and Preclinical Development
For the fourth quarter of 2025, D&PD revenues
declined by 17% to 137.1 million compared with 164.4 million in the same period 2024. Adjusted EBITDA for the quarter
amounted to 6.8 million, down from 19.4 million in the fourth quarter of 2024.
For full-year 2025, D&PD revenues totaled
528.9 million ( 539.9 million CER), representing a 13.5% year-on-year decrease from 611.4 million in 2024, mainly driven