Core Viewpoint - Tecan Group reports performance in line with expectations for Q1 2025 and confirms its sales outlook for the full year, anticipating a range of low single-digit percentage decline to low single-digit percentage growth in local currencies [1][6]. Sales Performance - Sales in local currencies for Q1 2025 declined within a mid-single-digit percentage range, with the Life Sciences Business segment performing solidly, close to prior-year levels, driven by increased sales in clinical diagnostics, particularly genomic testing [2][4]. - The Partnering Business segment experienced a slightly larger decline, attributed to the timing of customer orders, with expectations for higher sales volumes in the second half of the year [3]. Market Conditions - Sales to US academic and governmental accounts are affected by uncertainty regarding funding releases, while the market in China is stabilizing, with a projected single-digit decline for the full year [4]. - Early signs of recovery are noted in sales to biopharma customers, with a more significant revenue impact expected in the latter half of the year [5]. Financial Outlook - Tecan confirms its full-year 2025 sales outlook, expecting local currency sales to range from a low single-digit percentage decline to low single-digit percentage growth, alongside an adjusted EBITDA margin forecast of 17.5% to 18.5% [6]. - The company anticipates returning to average organic growth rates in the mid to high single-digit percentage range under normal market conditions [7]. Tariff Impact - The potential impact of US reciprocal tariffs is assessed as limited, with approximately 50% of US revenues generated from localized operations. Estimated EBITDA impact ranges from mid- to high-single-digit million Swiss francs if higher tariffs take effect [8][9]. Product Innovation - Tecan launched the Veya™ multi-omics liquid handling workstation in January 2025, receiving strong interest and positive feedback [12]. - The company expanded its specialty diagnostics offering through acquisitions and partnerships, including a collaboration with Grifols for biomarker panels [13][14]. Strategic Partnerships - Tecan secured a manufacturing contract for a major diagnostic system and expanded relationships with life science research customers, enhancing its project pipeline across various segments [14]. Key Dates - The adjusted EBITDA expectations are based on an average exchange rate forecast for 2025, with one euro equaling CHF 0.95 and one US dollar equaling CHF 0.90 [15].