Tecan reports significant growth in sales and profits in 2020 based on extraordinary demand for COVID-19 related products
Financial results for the full year 2020 – Highlights
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Surge in orders; order entry increased to CHF 855.2 million (2019: CHF 638.6 million)
- Full-year growth of 38.5% in local currencies or 33.9% in Swiss francs
- Growth trend further accelerated in the second half of the year
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Sales of CHF 730.9 million (2019: CHF 636.8 million)
- Full-year growth of 18.7% in local currencies and 14.8% in Swiss francs
- Double-digit sales growth in both business segments for full year 2020
- H2 sales growth of 27.8% in local currencies or 23.5% in Swiss francs
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Reported operating profit before depreciation and amortization (EBITDA) of
CHF 159.1 million (2019: CHF 122.8 million)- Increase in reported EBITDA margin to 21.8% (2019: 19.3%)
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Reported full-year net profit of CHF 103.7 million (2019: CHF 73.2 million)
- Net profit margin 14.2% (2019: 11.5%)
- Reported earnings per share increased by 40.6% to CHF 8.69 (2019: CHF 6.18)
Operating highlights 2020 and other important information
- Health and safety of Tecan employees prioritized during the coronavirus pandemic
- Global manufacturing and business operations secured for undisrupted support of customers
- Responded to unprecedented shifts and surge in demand for specific product lines by securing supplies of materials and expanding production capacities
- Tecan’s automation technology to enable scaled-up COVID-19 testing globally with existing and new partnerships
- Launch of DreamPrep NAP to simplify nucleic acid extraction
- Good progress made with development projects in both business segments to prepare for important product launches in 2021 and 2022
- Increase in the dividend proposed from CHF 2.20 to CHF 2.30 per share
Outlook 2021
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Full-year sales forecast to increase in the mid single-digit to mid-teens percentage range in local currencies
- Based on high order backlog and continued elevated demand, strong performance expected in first half year; developments in the second half of 2021 subject to greater uncertainty
- Full-year reported EBITDA margin expected to be at least at 2020 level; already reflecting the current more negative currency environment and absence of extraordinary effects
Lesen Sie auch
Männedorf, Switzerland, 16 March 2021 – Based on strong demand for COVID-19-related products, Tecan Group (SIX Swiss Exchange: TECN) reported significant growth in sales and profits in an exceptional and demanding year 2020.
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