Evotec SE Reports Q3 2026 Results Amidst Revenue Decline and Project Horizon Restructuring
Evotec SE reported a 13.1% decline in group revenue for the first nine months of 2026, totaling EUR 465 million. The downturn was primarily driven by lower sales-to-revenue conversion in Discovery and Preclinical Development (D&PD) and the absence of non-recurring license sale income from the previous year. Despite these headwinds, Q3 revenue remained stable at EUR 164.9 million, and adjusted EBITDA showed improvement compared to the prior year's quarter due to cost-saving measures. The company is currently undergoing 'Project Horizon,' a restructuring initiative aimed at achieving EUR 75 million in annual run-rate savings by 2027. This includes significant workforce reductions and site consolidations. While liquidity has decreased to EUR 400.9 million, management remains optimistic about long-term growth, citing a 45% increase in inbound leads for D&PD and a strategic partnership pipeline valued at approximately EUR 1 billion.
Topics: Cost reduction EBITDA improvement Project Horizon Revenue decline Workforce reduction