Tecan presents 2025 results and provides details on program to reignite profitable growth

Core Insights - Tecan reported a return to sales growth and strong order entry in the second half of 2025, with a focus on reigniting profitable growth through a transformation program [2][3][5] Financial Results - Total sales for 2025 were CHF 882.5 million, a decrease of 1.6% in local currencies and 5.5% in Swiss francs compared to 2024 [6][8] - Adjusted EBITDA was CHF 142.1 million, with an adjusted EBITDA margin of 16.1%, down from 17.6% in 2024, impacted by foreign exchange effects and tariffs [9] - The company reported a net loss of CHF 110.7 million due to non-cash impairment charges of CHF 139.5 million, compared to a net profit of CHF 67.7 million in 2024 [10] - Operating cash flow was CHF 138.0 million, with cash conversion improving to 118% of reported EBITDA [11] Order Entry and Sales - Order entry for 2025 reached CHF 900.9 million, declining by 0.3% in Swiss francs but growing by 3.8% in local currencies [7] - In the second half of 2025, order entry grew by 8.6% in local currencies [7] Business Segments - Life Sciences Business sales were CHF 377.1 million, down 1.0% in local currencies and 5.0% in Swiss francs, with demand impacted by budget uncertainty [13] - Partnering Business sales were CHF 505.4 million, representing a decrease of 2.0% in local currencies and 5.9% in Swiss francs [15] Outlook - For 2026, Tecan expects sales to increase in the low single-digit percentage range in local currencies, with market growth anticipated to remain broadly flat [21] - The adjusted EBITDA margin is forecasted to be between 15.5% and 16.5%, reflecting a headwind from foreign exchange and tariffs [22] - Tecan aims to achieve sales of CHF 1 billion and a 20% adjusted EBITDA margin by 2028, supported by the ongoing transformation program [23][24]