Full year 2016

Another year of double-digit sales growth for Tecan - Seite 4

Despite a higher operating result, net profit for the year 2016 was CHF 54.5 million and therefore below the prior-year period due to non-operational effects (2015: CHF 57.1 million). In addition to acquisition-related costs, the difference is due to the lack of the positive one-time effects from 2015, an increase of the tax rate in 2016 to an again more normalized level and a lower financial result due to currency hedging. The net profit margin therefore reached 10.8% of sales (2015: 13.0%), while earnings per share were CHF 4.74 (2015: CHF 5.05)

Cash flow from operating activities grew strongly to CHF 118.8 million (2015: CHF 99.1 million), including a further reimbursement of development costs by an OEM partner. Thus, cash flow from operating activities corresponded to 23.5% of sales.

Information by business segment

Life Sciences Business (end-customer business)
In the second half of the year, sales in the Life Sciences Business increased by 10.7% in local currencies and were 11.7% above the prior-year period in Swiss francs. On an organic basis, excluding sales from SPEware in the last quarter, sales in the second half grew by 7.5% in local currencies. Sales for the full year totaled CHF 280.2 million, representing an increase of 8.6% in local currencies and 10.7% in Swiss francs over the prior-year period (2015: CHF 253.0 million). On an organic basis, sales increased by 6.8% in local currencies in 2016. The new Fluent and Spark platforms as well as recurring sales of services, consumables and reagents made a considerable contribution to this growth. Order entry in the Life Sciences Business again exceeded sales for the full year and saw an acceleration in the second half, supported by a strong market uptake of new products.

Operating profit before interest and taxes (EBIT) in the segment was CHF 45.7 million in the year under review (2015: CHF 45.4 million), corresponding to an operating profit margin of 15.6% of sales (2015: 17.0%).

Partnering Business (OEM business)
Sales in the Partnering Business grew by 14.3% in local currencies as well as in Swiss francs in the second half of 2016. On an organic basis, revenue rose by 7.0% in local currencies.
The Partnering Business generated sales of CHF 226.0 million in financial year 2016 (2015: CHF 187.3 million), which corresponds to an increase of 20.1% in local currencies and 20.7% in Swiss francs. On an organic basis, sales increased by 10.1% in local currencies.