Tecan Group AG (LTS:0QLN)

Half Year 2026 Tecan Group AG Earnings Call Transcript

Aug 11, 2026 / 07:00 AM GMT

Release Date Price: CHF185.2 (-6.54%)

Transcript

Key Points

Positve

Tecan Group AG (TCHBF) delivered solid above-market growth in both segments, with group sales up 3.4% in local currencies and order entry up 3%, maintaining a book-to-bill ratio above 1.
The company's adjusted EBITDA margin improved slightly to 15.1%, despite significant headwinds from FX and tariffs, with underlying profitability up 108 basis points due to higher volumes, favorable product mix, and initial benefits from the Rewired program.
The Rewired transformation program is progressing well, with first savings materializing from business exits and operational improvements, increasing confidence in achieving the 2028 targets of CHF1 billion in sales and a 20% adjusted EBITDA margin.
Tecan Group AG (TCHBF) is strategically positioning itself in high-growth areas, including AI-powered labs through its NVIDIA partnership and expansion into the Indian market with a new direct sales and service team.
Management expects to close the year toward the upper end of its adjusted EBITDA margin guidance of 15.5% to 16.5%, citing positive effects from higher sales volumes, favorable product mix, and initial Rewired benefits.
The company confirmed its 2028 targets and long-term ambition of mid to high single-digit sales growth and an adjusted EBITDA margin above 20%, demonstrating confidence in its strategic direction.

Negative

Reported group sales decreased by 2.7% due to significant negative FX impact, and adjusted EPS declined to CHF2.62, below last year's levels.
Gross profit margin declined sharply from 36.2% to 33.9%, driven by material cost inflation, inventory valuation, FX, and tariffs, which negatively impacted profitability.
Operating cash flow decreased significantly to CHF17 million due to higher accounts receivable, inventory buildup for supply chain resilience, and higher tax payments, although these were noted as non-structural.
The company faces ongoing headwinds from tariffs and FX, which had a combined negative impact of 170 basis points on adjusted EBITDA margin in the first half, with tariffs expected to continue impacting the full year.
The academia and government customer segment saw a double-digit decline, and the company remains prudent about the pace of market recovery, noting it is too early to call a change in trend.
Supply chain challenges, particularly with major suppliers for the Cavro OEM components business, prevented the company from shipping all planned backlog, negatively impacting sales in that segment.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

TECN.S - Tecan Group AG
Half Year 2026 Tecan Group AG Earnings Call
Aug 11, 2026 / 07:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, everyone.

Thank you for joining our conference call this morning. We are pleased to share and discuss our results for the first half of 2026 with you.

Joining me on the call today are our Chief Executive Officer, Monica Manotas and our Chief Financial Officer, Kamila Shapur.

Before we begin, let's quickly go over a few formalities as usual.

The press release announcing our financial results was issued this morning at 7:00 a.m. Central European Summer Time.

Both the press release and the 2026 Interim Report are available on our website, deakin.com, under the Investor Relations tab.

Additionally, the PDF of the presentation slides, which we will be discussing during this

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