Core Insights - Tecan Group has acquired Wako Automation assets, including the Director™ scheduling software and select hardware modules, completing the transaction on December 1, 2025 [1] - The acquisition aims to expand Tecan's market beyond liquid-handling products and enhance its leadership in laboratory automation [2] Group 1: Acquisition Details - The acquisition includes the flagship Director™ software and hardware, which will be integrated into Tecan Labwerx, enhancing custom lab automation solutions [4] - This move builds on Tecan's previous success with FlowPilot, a scheduling software for robotic workcells, which was initially licensed from Wako Automation [3] Group 2: Strategic Objectives - Tecan's strategic goal is to provide advanced scheduling software that allows customers to manage complex workflows with improved flexibility and efficiency [2] - The integration of Wako's scheduling software and hardware is expected to strengthen Tecan's offerings in the growing biopharma segment, where the Director software is already utilized by established clients [4][5] Group 3: Leadership and Market Position - Tecan's CEO, Monica Manotas, emphasized that the addition of Wako's expertise will accelerate the growth of Tecan's custom lab automation business, Labwerx [5] - Tecan is positioned to meet the increasing demand for flexible, scalable, and integrated automation solutions in the market [5]

Core Insights - Tecan reported solid financial results for the first half of 2025, confirming its outlook for the full year despite ongoing market challenges [1][2] Financial Performance - Order entry for H1 2025 was CHF 458.3 million, a decrease of 2.9% year-on-year, but showed sequential improvement with mid-single-digit growth in Q2 [3] - Sales decreased by 5.9% in Swiss francs to CHF 439.5 million, with a decline of 3.7% in local currencies; however, there was a sequential improvement from Q1 to Q2 [4][5] - Adjusted EBITDA was CHF 65.7 million, with an improved margin of 15.0% despite lower sales volume [6] - Adjusted net profit was CHF 33.7 million, down from CHF 36.5 million in H1 2024, impacted by foreign exchange effects and a higher effective tax rate [7] Business Segment Analysis - Life Sciences Business sales were CHF 185.7 million, a slight decrease of 1.0% in Swiss francs but an increase of 1.6% in local currencies, supported by growth in clinical diagnostics [9][10] - Partnering Business sales were CHF 253.8 million, down 9.2% in Swiss francs, with strong growth in in-vitro diagnostics systems but a decline in Cavro OEM components [12][13] Operational Highlights - Tecan enhanced operational resilience through cost-reduction programs and site consolidations, including the closure of two California sites [16][17] - Continued focus on innovation with new product launches such as Veya™ and FlowPilot, aimed at improving laboratory workflows [19][20] Share Buyback Program - Tecan announced a share buyback program of up to CHF 120 million, reflecting confidence in long-term growth prospects [26][27] Outlook for 2025 - Tecan confirmed its full-year sales outlook, expecting sales in local currencies to range from a low single-digit percentage decline to low single-digit percentage growth [29] - The company anticipates an adjusted EBITDA margin of 17.5% to 18.5% for the full year [30]