Tecan Group Stock Earnings Reports

Key points for investors: Tecan delivered H1 2025 revenue of CHF 439.5m and adjusted EBITDA of CHF 65.7m (15% adjusted EBITDA margin), broadly in line with expectations. Order entry improved sequentially (Q2 mid-single-digit growth in local currencies), book-to-bill moved above 1, and Life Sciences returned to growth while the Partnering Business saw anticipated declines but order momentum improved. Gross margin expanded ~180bp to 36.2% driven by better mix, pricing and cost efficiencies; operating cost control and site consolidation contributed to improved adjusted EBITDA margin despite lower sales. Cash generation was strong (operating cash flow CHF 60m, cash conversion ~109%), net liquidity CHF 140.3m, and management launched a CHF 120m share buyback (≈6% of share capital) while reaffirming capital allocation focus on organic investments and M&A. Principal near-term risk: newly effective U.S. reciprocal tariffs — management estimates a potential gross EBITDA hit in the low-teens (CHF) for 2025 H2, with mitigation actions expected to offset part of that in the low- to mid-single-digit million range and additional actions likely to take effect into 2026. 2025 guidance is reiterated: sales in local currencies expected between a low single-digit decline and a low single-digit growth, and adjusted EBITDA margin guidance of 17.5–18.5% (on a like-for-like FX/tariff assumption basis).