Earnings release
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August 11 , 2026 | Corporate News | Ad hoc announcement | English | German ( tecan - erzielt - im - ersten - halbjahr - 2026 - ein - wachstum - von - 3-4 - in- lokalw % C3 % A4hrungen - und - eine - bereinigte - ebitda - marge - von - 15-1 - ausblick- best % C3 % A4tigt - 63574 ? hsLang = en ) Tecan reports growth of 3.4 % in local currencies and adjusted EBITDA margin of 15.1 % for the first half of 2026 , outlook confirmed Ad hoc announcement pursuant to Article 53 of the SIX Exchange Regulation Listing Rules Tecan reports growth of 3.4 % in local currencies and adjusted EBITDA margin of 15.1 % for the first half of 2026 , outlook confirmed Financial highlights - first half of 2026 Sales of CHF 427.5 million , up 3.4 % in local currencies ; with growth in both Life Sciences Business ( + 3.1 % LC ) and Partnering Business ( + 3.6 % LC ) Order entry up 3.0 % in local currencies , book - to - bill ratio remaining above 1 in both segments Adjusted EBITDA margin at 15.1 % , with underlying profitability improvements of 180 bps and headwinds from foreign exchange rates of 120 bps and tariffs of 50 bps Operating cash flow of CHF 17.0 million ; cash conversion at 36.5 % Adjusted EPS of CHF 2.62 , down 1.5 % year on year Full - year 2026 sales and adjusted EBITDA margin outlook confirmed Progress on transformation program " Rewired " Portfolio discipline : Executing on the previously announced discontinuations Commercial excellence : Building ecosystem to position Tecan as partner of choice for Al - powered labs , expansion into India Operational excellence : Creating a more efficient footprint for Operations , R & D and G & A Männedorf , Switzerland , August 11 , 2026 - The Tecan Group ( SIX Swiss Exchange : TECN ) today announced its financial results for the first half of 2026 and confirmed its outlook for the full year 2026 . Tecan CEO Monica Manotas , commented : « Our performance in the first half of the year was solid , characterized by 3.4 % group sales growth in local currencies with growth in both segments , which outperformed the broader market . We also delivered sound profitability with an adjusted EBITDA margin of 15.1 % , in line with expectations . Market developments are encouraging and remain fully in line with our earlier guidance . As market momentum builds , we are confident in our position to
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consistently grow ahead of the market. There is more work to do tofully realize Tecan's potential. To future-proof the company and drivelong-term value we launched our 'Rewired' transformation program inthe first quarter. Following the implementation of initial measures in thesecond quarter, we expect these to contribute to our full-yearperformance and serve as the foundation for accelerated growth andprofitability as we move toward our 2028 targets. » Financial results for the first half of 2026 Group key figures CHF million, unless stated H1 2025 H1 2026 Δ CHF Δ LC Sales 439.5 427.5 -2.7% +3.4% Order entry 458.3 444.3 -3.1% +3.0% Adjusted EBITDA 65.7 64.5 -1.8% — – margin 15.0% 15.1% +10 bps Reported EBITDA 54.9 46.6 -15.1% — – margin 12.5% 10.9% -160 bps Adjusted EBIT 43.6 43.8 +0.6% — – margin 9.9% 10.2% +30 bps Reported EBIT 23.1 17.8 -23.1% — – margin 5.3% 4.2% -110 bps Adjusted net profit 33.7 32.5 -3.5% — Adjusted EPS (CHF) 2.66 2.62 -1.5% — Reported net profit 17.9 12.3 -31.5% — Basic EPS (CHF) 1.41 0.99 -29.8% — Operating cash flow 60.0 17.0 -71.7% — Cash conversion 109.2% 36.5% — — Net liquidity (period-end) 140.3 73.5 -47.6% — Group sales grew by 3.4% in local currencies in the first half of 2026(-2.7% in Swiss francs), with both segments achieving comparablegrowth rates. The good momentum from Q1 was maintained in Q2, withsales growth of 3.4% in local currencies in both quarters. Order entry delivered solid growth of 3.0% in local currencies in thefirst half of 2026, broadly in line with sales, resulting in a book-to-billratio of 1.04. Order growth in Q2 was stable year-on-year in localcurrencies, despite a tougher comparison base from the prior year. Thebook-to-bill ratio remained at 1.0 in the second quarter, with Q2 orderentry exceeding Q1. The adjusted EBITDA margin was 15.1%, slightly above the 15.0% fromH1 2025, achieved despite headwinds from foreign exchange rates (120bps) and tariffs (50 bps). Underlying profitability improved by 180 basispoints, primarily as a result of increased sales volumes, a favorableproduct mix, and first benefits realized from the 'Rewired'transformation program. While adjusted EBIT increased slightly, adjusted net profit saw amodest decline, mainly due to negative effects from foreign exchangehedging below the operating profit line. Adjusted earnings per sharedeclined by a smaller percentage than adjusted net profit, as thenumber of outstanding shares was reduced through the ongoing sharebuyback program.Reported net profit and reported earnings per share were impacted byhigher costs related to the non-recurring investments in the SAPS/4HANA enterprise architecture and the new CRM system as well asrelated to the 'Rewired' transformation program, including restructuringexpenses. 2
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Operating cash flow was significantly lower in the first half of 2026,with cash conversion also declining compared to previous periods,mainly due to changes in net working capital. These factors are non-structural, and operating cash flow has historically been strong, and itwill remain strong in a future proofed Tecan.Under the share buyback program, shares valued at CHF 30.5 millionwere acquired in the first half of 2026. Information by business segment Segment key figures Life Sciences Business Partnering Business CHF million H1 2025 H1 2026 H1 2025 H1 2026 Sales 185.7 179.6 253.8 247.9 – Δ CHF -3.2% -2.3% – Δ LC +3.1% +3.6% Reported EBIT 8.7 3.8 22.0 20.4 – margin 4.7% 2.1% 8.7% 8.2% Adjusted EBITDA 26.4 24.7 46.9 46.3 – margin 14.0% 13.8% 18.4% 18.7% Life Sciences BusinessSales in the Life Sciences Business segment grew by 3.1% in localcurrencies in the first half, outperforming the broader lab automationmarket. Growth was driven by continued strong performance in theBiopharma and Diagnostics customer segments, while sales inAcademia & Government declined as expected. Growth in the LifeSciences Business segment also benefited from strong growth in TecanGenomics, selected activities of which will be divested as a result ofportfolio optimization under 'Rewired'.The segment saw sequential improvement, with Q2 sales up 4.6% inlocal currencies compared to the prior-year quarter, following a 1.3%increase in Q1. Notably, liquid handling instrument revenues recoveredin Q2 after declines in previous quarters. Recurring revenues fromservices, consumables, and reagents continued to perform well, withtheir share of segment sales increasing to 64.4%, up from 62.1% in theprior-year period.Order entry accelerated in Q2, and the book-to-bill ratio remainedabove 1 in the first half of 2026. Reported EBIT and reported operating profit margin in the LifeSciences Business segment decreased, as the segment absorbed themajority of the negative impact from foreign exchange rates and tariffs.In addition, non-recurring charges further affected reported results.Excluding these non-recurring charges, the adjusted EBITDA margin forthe segment decreased slightly, with positive contributions from highervolumes and underlying operational improvements from the 'Rewired'transformation program. Partnering BusinessSales in the Partnering Business segment increased by 3.6% in localcurrencies, driven by continued solid growth in the Diagnostics andMedtech customer segments.Q2 delivered solid growth of 2.4% in local currencies, despite anincreasingly challenging comparison base from the prior-year period.As expected, order entry growth moderated in Q2 due to the highprior-year base; however, the book-to-bill ratio remained above 1 forboth the quarter and the first half.The Partnering Business segment reported a moderate decline in EBITand operating profit margin, primarily reflecting adverse foreignexchange and tariff effects as well as restructuring charges. However,
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adjusted EBITDA margin improved, driven by volume, a favorableproduct mix and operational improvements resulting from the 'Rewired'transformation program. Progress on transformation program «Rewired»In March, Tecan launched 'Rewired', a transformation program tofuture-proof the company and excel in both innovation and execution.'Rewired' initiatives are designed to deliver greater value to customers,unlock profitable growth, and strengthen Tecan’s market position.Together with the results for the first half 2026 the company providesan update on the three main levers. Portfolio disciplineAs announced on March 16, 2026, Tecan discontinued dedicated early-stage design functions for medical devices at its Boston site, acquiredin 2021; the site was closed in April. In addition, Tecan announced itsdecision to exit selected activities at Tecan Genomics, with the processadvancing as planned. Commercial excellenceA strategic aim for Tecan is to become the automation partner ofchoice for AI-powered labs. Early progress toward this goal includesthe partnership with NVIDIA, announced in March, with concreteadvancements communicated in June through the integration ofAgentic AI capabilities into Tecan’s Introspect lab analytics platform.Tecan and NVIDIA are also collaborating on the further development ofPhysical AI capabilities. In parallel to the NVIDIA partnership, Tecan isadvancing a growing portfolio of AI-driven initiatives with technologypartners and customers, positioning Tecan products as key enablers ofAI-powered laboratories. For example, in Japan, Tecan collaboratedwith a customer to develop a biofoundry – a highly automated “factoryfor biology” that integrates robotics, AI, synthetic biology, genomeengineering, high-throughput testing, and data analytics. Tecantechnology serves as a core component in this innovative setup. To strengthen commercial excellence, Tecan is continuing expansioninto high-potential regions and market segments. In May, Tecanestablished direct operations in India, including a dedicated local salesand service team based in Gurugram, near New Delhi. This reinforcesTecan’s commitment to serving customers in one of the world’s mostdynamic and fastest-growing life sciences markets, enabling moredirect customer relationships and enhanced local support. Operational excellenceOperational excellence is focused on scalable, resilient operations thatconvert growth into margins and cash. Efficient operations and a lowercost base are a priority. At the end of March, Tecan divested itsspecialized precision machining site in California, consolidatingactivities and capabilities at the existing Vietnam site. Further, Tecan isleveraging prior investments in fully automated production lines in theUS for certain consumables. With increased demand in the US market,local production offers significant advantages in both responsivenessand sustainability, notably enabling substantial reductions in CO ₂emissions. Production lines for pipette tips in the US have beenoperational since Q2.Operational excellence initiatives leverage previously initiatedinvestments in a harmonized SAP S/4HANA enterprise architecture,marking an important milestone in the modernization of Tecan’s ERPplatform. 2026 guidance and medium-term outlook confirmed Based on first-half performance and current assumptions, Tecanconfirms its full-year sales outlook and reiterates its adjusted EBITDAmargin guidance. Full-year 2026 guidance (confirmed)
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A Q3 Update will be published on November 5, 2026. Sales, local currencies Low single-digit growthAdjusted EBITDA margin 15.5% to 16.5% of sales In the second half of 2026, Tecan expects to receive tariff refunds ofaround CHF 6 million related to tariffs paid under the InternationalEmergency Economic Powers Act. They will be included in reportedearnings metrics such as EBIT, EBITDA, net earnings, and EPS.However, as these refunds are exceptional in nature, these refunds willnot be reflected in adjusted earnings metrics. As a result, the refundswill not benefit or contribute to the adjusted EBITDA margin guidance. The company also reiterates its medium-term outlook, as presented atthe Capital Markets Update on March 16, 2026. Full-year 2028 guidance (confirmed)Sales CHF 1 billionAdjusted EBITDA margin 20% of sales Financial Report and Webcast The full 2026 Interim Report can be accessed at www.tecan.com(https://www.globenewswire.com/Tracker?data=zlg2vYpEEim35DTR0fWbzeGx2fqDa-2xO3zVL7aY-Tj1l7cq1uZc2y_b7qmsVJFtiSk5jbYqHvwMIkPSdT_xdg==) under InvestorRelations. Tecan will hold an analyst and media conference call to discuss the firsthalf 2026 results today at 09:00 am (CEST), relayed by live audiowebcast at www.tecan.com (https://www.globenewswire.com/Tracker?data=zlg2vYpEEim35DTR0fWbzer5Ybdm_JoNXTx8vQh2I2yZHN4Ml9hPrV8035via7AP0Zx1in8w2MdH2gCOSqvjFg==). The dial-in numbers for the conference call:For participants from Europe: +41 (0)58 310 50 00 or +44 (0) 203 05958 63For participants from the US: +1 (1) 631 570 5613 Participants should if possible dial in 15 minutes before the start of theevent. Key upcoming dates Any changes to tariff rates may impact the outlook. Profitabilityexpectations for 2026 and for the medium-term sales and adjustedEBITDA margin outlook are based on an average exchange rateforecast of one euro equaling CHF 0.92 and one US dollar equaling CHF0.80. Reconciliations to adjusted EBIT, EBITDA, net earnings and EPS areprovided in the 2026 Interim Report at www.tecan.com/investor-overview About Tecan Tecan (www.tecan.com) improves people’s lives and health byempowering customers to scale healthcare innovation globally from lifescience to the clinic. Tecan is a pioneer and global leader in laboratoryautomation. As an original equipment manufacturer (OEM), Tecan isalso a leader in developing and manufacturing OEM instruments,components and medical devices that are then distributed by partnercompanies. Founded in Switzerland in 1980, the company has morethan 3,000 employees, with manufacturing, research and developmentsites in Europe, North America and Asia, and maintains a sales andservice network in over 70 countries. In 2025, Tecan generated sales of 1 1 1 1 2
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Press Release with financial tables(https://www.tecan.com/hubfs/HubDB/Te-EWMS/corp-news/260811_PR_Tecan_reports_growth_of_3.4%25_in_local_currencies_and_adjusted_EBITDA_margin_of_15.1%25_for_the_fhsLang=en) CHF 883 million (USD 1,063 million; EUR 939 million). Registered sharesof Tecan Group are traded on the SIX Swiss Exchange (TECN; ISINCH0012100191). For further information: Tecan GroupMartin BrändleSenior Vice President, Corporate Communications & IRTel. +41 (0) 44 922 84 30Fax +41 (0) 44 922 88 89investor@tecan.comwww.tecan.com Downloads: