Evotec Shareholders Back New Chairman and AI Chief as First-Quarter Losses Balloon to €121m
13.06.2026 - 17:33:58 | boerse-global.de
Evotec is attempting a two-front turnaround: a leadership overhaul at board level and a push into artificial intelligence, all while the numbers tell a starkly different story. The Hamburg-based biotech group reported a first-quarter revenue drop of nearly 22% to €156.6 million, with the operating loss widening to minus €121.4 million as restructuring charges mounted.
Shareholders at the annual general meeting approved the election of Dieter Weinand as chairman of the supervisory board, succeeding Prof. Dr. Iris Löw-Friedrich. Weinand, a former Bayer executive and CEO of Bayer Pharmaceuticals, also held senior roles at Pfizer, Bristol Myers Squibb and Sanofi — a heavyweight CV that activists had demanded to inject more commercial muscle into the oversight body. Joining him on the board was Dr. Wolfgang Hofmann, while Dr. Duncan McHale and Wesley Wheeler were re-elected, expanding the panel from six to seven seats. Attendance stood at 43.10% of the share capital, respectable for a company in restructuring.
Alongside the governance shake-up, Evotec appointed Rui Wang to lead its newly created global AI division. Wang joins from AstraZeneca with more than 20 years of experience in computational drug discovery. The company aims to use data-driven processes to accelerate drug development, a bet that the management hopes will revive its stumbling core business. The AI push runs in parallel with the Horizon restructuring programme launched in March, which targets annual cost savings of roughly €75 million by the end of 2027. Evotec plans to halve its sites from 19 to 10 and cut around 800 jobs, with first-quarter provisions of €75 million already booked — mostly for severance and impairments.
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The underlying business showed stress beyond the one-off charges. On an adjusted basis, revenue fell 6%, and management attributed the headline drop to currency headwinds and the absence of a milestone payment. Just-Evotec Biologics, the segment that has drawn activist attention, saw its adjusted EBITDA slide deep into negative territory. The company’s net liquidity stood at €10 million at quarter-end, and in late May it placed a €116.1 million convertible bond with a conversion price of €6.53 per share — well above the current share price of €4.80, offering a cash buffer but carrying dilution risk once the stock recovers.
Despite the losses, Evotec reaffirmed its full-year guidance: revenue in a range of €700 million to €780 million, and adjusted EBITDA between zero and €40 million. The stock ended Friday at €4.80, down roughly 13% since the start of the year and 36% lower than twelve months ago. It trades about 5% below its 50-day moving average and 14% under its 200-day average. On the short side, AHL Partners LLP trimmed its position from 0.78% to 0.68% of outstanding shares, a modest but positive signal from the bear camp.
The half-year report, due on 13 August, will be the first real test of whether Horizon is making a tangible operational difference. Meanwhile, activist investors continue to push for a potential spin-off of the Biologics unit — a debate that has yet to gain clear majority support inside the boardroom. Weinand takes the chair at a moment when strategic ambition and financial reality are pulling in opposite directions.
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Evotec Stock: New Analysis - 13 June
Fresh Evotec information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
