Tecan Group (TECN) investor relations material

Executive summary

• Sales for 2025 were CHF 882.5 million, down 1.6% in local currency, with adjusted EBITDA at CHF 142.1 million (16.1% margin); net loss of CHF 110.7 million due to CHF 139.5 million impairment.

• Cash flow from operations was CHF 138 million, representing 118% EBITDA conversion.

• The "Rewired" transformation program was launched, targeting CHF 1 billion sales and 20% adjusted EBITDA by 2028.

• Board proposes a stable dividend of CHF 3 per share.

• Focus on automation, AI-driven demand, and scalable solutions in research, diagnostics, and MedTech markets.

Financial highlights

• Order entry for 2025 was CHF 900.9 million, up 3.8% in local currencies; book-to-bill ratio above one in both segments.

• Adjusted EBITDA margin declined by 150 bps to 16.1%, mainly due to FX and tariffs; excluding these, margin was 18.1%.

• Adjusted net profit was CHF 87 million, down from CHF 103.1 million in 2024; adjusted EPS CHF 6.87.

• Cash flow from operations improved to 118% of EBITDA; net liquidity rose to CHF 160.8 million.

• Gross margin increased to 35.2% (2024: 34.3%).

Outlook and guidance

• 2026 sales expected to grow low single digits in local currencies, with adjusted EBITDA margin of 15.5%-16.5%.

• 2028 targets: CHF 1 billion in sales and 20% adjusted EBITDA margin.

• Beyond 2028, aim for mid to high single-digit sales growth and EBITDA margin expansion.

• Market growth for 2026 expected between -1% and +1%, with gradual improvement in subsequent years.