H1 2020

Strong demand for Tecan products to help in the global fight against the coronavirus pandemic

Financial results for the first half of 2020

• Surge in orders; order entry increased to CHF 374.0 million (H1 2019: CHF 310.6 million)
  • Increase of 24.3% in local currencies or 20.4% in Swiss francs
• Sales of CHF 310.0 million (H1 2019: CHF 296.1 million)
  • Growth of 8.0% in local currencies or 4.7% in Swiss francs
  • Both business segments contributing to growth; pronounced headwinds and tailwinds from the coronavirus pandemic
• Reported operating profit before depreciation and amortization (EBITDA) of CHF 60.2 million (H1 2019: CHF 49.3 million)
  • Reported EBITDA margin of 19.4% (H1 2019: 16.6%; including non-recurring costs of around 90 basis points)
• Reported net profit of CHF 36.0 million (H1 2019: CHF 25.3 million)
  • Earnings per share increased by 41.1% to CHF 3.02 (H1 2019: CHF 2.14)
• Outlook for full-year sales and reported EBITDA margin raised

Operating highlights in the first half of 2020

• Health and safety of Tecan employees ensured during the coronavirus pandemic
• Global manufacturing and business operations secured for undisrupted support of customers, particularly for scaled up global COVID-19 testing
• Responded to unprecedented shifts and surge in demand for specific product lines by securing supplies of materials and expanding production capacities
• Launch of DreamPrep NAP to simplify nucleic acid extraction

Männedorf, Switzerland, August 12, 2020 – The Tecan Group (SIX Swiss Exchange: TECN) saw strong demand for a number of its product lines to help in the global fight against the coronavirus pandemic, resulting in a substantial increase in sales and a surge in orders in the first half of 2020.

Tecan CEO Dr. Achim von Leoprechting commented: “Tecan has an important role to play in this unprecedented time, and we recognize the responsibility we have as part of the international effort to turn the tide on COVID-19. Our laboratory automation solutions and our disposable pipette tip business saw a substantial increase in demand, and we took a number of steps to expand the production capacity and supply of those product lines. At the same time, parts of our business faced significant headwinds, largely in non COVID-19 research and diagnostic testing.