Evotec (EVT) Company presentation summary

Strategic vision and value creation

• Focus on unleashing innovation in drug discovery to develop life-changing medicines.

• Four levers drive mid-term value: above-market growth, operational excellence, monetization of technology/assets, and asset pipeline returns.

• Commitment to operational excellence includes cost-out plans and productivity improvements.

• Transitioning to an asset-lighter model through strategic divestments and technology licensing.

• Horizon transformation aims for sustainable, capital-efficient growth and long-term value creation.

Market positioning and commercial model

• Operates in attractive markets with global R&D spend of $260bn and strong outsourcing trends.

• Biologics CDMO market shows robust growth, with continuous manufacturing outpacing traditional methods.

• Versatile commercial model offers tailored research services, strategic partnerships, and risk/reward sharing.

• AI-enhanced drug discovery platforms support high-value partnerships and asset pipeline expansion.

Financial performance and outlook

• 2025 saw strong growth in biologics (JEB) segment, offsetting softness in early discovery.

• Gross margin improved to 14.5% in 2025, with JEB segment achieving 26% margin.

• Adjusted group EBITDA rose 81.9% to €41.1m in 2025.

• Strengthened balance sheet and net cash position at year-end 2025.

• 2026 revenue outlook: €700–780m, with EBITDA of €0–40m; H2 expected to recover from H1 softness.