Tecan Group (TECN) Q1 2025 TU earnings summary

Executive summary

• Q1 2025 performance aligned with expectations; sales declined mid-single-digit percentage in local currencies compared to prior year.

• Life Sciences Business segment sales remained close to prior-year levels, supported by clinical diagnostics and recovering consumables.

• Partnering Business segment saw a slightly larger decline, mainly due to timing of customer orders, but in-vitro diagnostics systems in Synergence line performed well.

• Early signs of recovery in biopharma customer sales, with stronger impact expected in H2 2025.

• Newly launched products and partnerships contributed positively across both divisions.

Financial highlights

• Q1 2025 sales declined mid-single-digit percentage in local currencies year-over-year.

• Adjusted EBITDA margin forecast for full-year 2025 remains at 17.5% to 18.5% of sales.

• 2024 sales were CHF 934 million (USD 1,062 million; EUR 984 million).

Outlook and guidance

• Full-year 2025 sales expected to range from a low single-digit percentage decline to low single-digit percentage growth in local currencies.

• Adjusted EBITDA margin guidance for 2025 reiterated at 17.5% to 18.5%.

• Mid-term outlook anticipates return to mid- to high-single-digit organic growth under normal market conditions, with ongoing profitability improvements.

• US academic/governmental sales remain impacted by funding uncertainty; China market stabilizing with single-digit decline expected for 2025.