Tecan presents 2025 results and provides details on program to reignite profitable growthFinancial results for the full year 2025, Summary
Sales of CHF 882.5 million (2024: CHF 934.3 million), down 1.6% in local currencies for the year, with second-half sales growth of 0.4%
Order entry increased by 3.8% in local currencies for the full year and by 8.6% in the second half
Adjusted EBITDA of CHF 142.1 million (2024: CHF 164.4 million), adjusted EBITDA margin of 16.1% (2024: 17.6%), impacted by adverse foreign exchange effects and tariffs, partly offset by cost-reduction measures and underlying improvements
Net profit impacted by non-cash impairment charges of CHF 139.5 million resulting in a reported net loss of CHF 110.7 million (2024: net profit of CHF 67.7 million)
Strong operating cash flow of CHF 138.0 million (2024: CHF 148.5 million), cash conversion increased to 118% of reported EBITDA (2024: 100%)
Proposal for an unchanged dividend of CHF 3.00 per share
Outlook
Outlook for 2026
Sales expected to increase in the low single-digit percentage range in local currencies, with the relevant market anticipated to remain broadly flat
Adjusted EBITDA margin forecast at 15.5-16.5% of sales, reflecting a -110 basis points headwind from FX and tariffs
This margin expectation includes an underlying profitability improvement of 50-150 basis points from the transformation program
Medium-term outlook maintained
Ambition to achieve sales of CHF 1 billion and a 20% adjusted EBITDA margin by 2028, supported by the ongoing transformation program contributing 200-300 basis points
Männedorf, Switzerland, March 16, 2026, The Tecan Group (SIX Swiss Exchange: TECN) today announced its audited financial results for 2025, reporting a return to sales growth and strong order entry in the second half of the year. Tecan also initiated its short-term financial outlook for 2026 and reaffirmed its medium-term outlook. Later today, the company will host a Capital Markets Update, providing further details on the key drivers supporting its medium-term growth and profitability ambitions.
Tecan CEO Monica Manotas commented: «Our 2025 performance does not reflect Tecan's potential. We are acting decisively to change that. Our core is intact, and our balance sheet is strong. Through our transformation program, built on portfolio optimization, commercial excellence, and operational excellence, we are focused on returning to profitable growth now, while positioning our company for what is next and beyond.
While the return to growth in our industry is gradual, the forces shaping its future, AI integration, automation, scientific complexity, economic pressure, are powerful and durable. We expect them to drive significant growth in laboratory automation over the coming decade, and we intend to outgrow the market by leading its AI- and data-driven future.
To achieve that, we have launched "Rewired", a transformation program to future-proof Tecan and excel at both innovation and execution. Technology leadership and the ability to translate it into profitable growth are decisive, for customers and shareholders alike. We will pursue this with financial discipline, rigorous capital allocation, and the strategic focus needed to realize Tecan's long-term potential.»
Financial results full-year and second half of 2025
Order entry and salesOrder entry for the Group reached CHF 900.9 million for full-year 2025 (2024: CHF 903.6 million), declining by 0.3% in Swiss francs but growing by 3.8% in local currencies. The book-to-bill ratio was above 1 in both business segments. In the second half, order entry grew by 8.6% in local currencies and by 2.6% in Swiss francs.
Group sales for 2025 decreased by 1.6% in local currencies and 5.5% in Swiss francs, totalling CHF 882.5 million (2024: CHF 934.3 million). In the second half of the year, Tecan returned to moderate sales growth, with sales increasing by 0.4% in local currencies. Sales declined by 5.2% in Swiss francs to CHF 443.0 million (2024: CHF 467.1 million). These sales results were previously communicated in a trading statement on January 9, 2026.
Profitability and Cash FlowAdjusted EBITDA1 (operating profit before depreciation and amortization) was CHF 142.1 million, down from CHF 164.4 million in 2024. The adjusted EBITDA margin decreased to 16.1% of sales (2024: 17.6%). Margins were significantly impacted by adverse foreign exchange effects (-130 basis points) and tariffs (-70 basis points), partly offset by underlying improvements (+50 basis points). Excluding the combined 200 basis point headwind from foreign exchange effects and tariffs, the adjusted EBITDA margin was 18.1%, in line with the outlook communicated on March 12, 2025. Reported EBITDA was CHF 117.1 million, compared to CHF 148.0 million in the prior year, corresponding to reported margins of 13.3% and 15.8%, respectively.
Net profit was impacted by non-cash impairment charges ...
