Tecan Group AG (TCHBF,TECN.SW), a Swiss provider of laboratory instruments and solutions, reported Monday a loss in fiscal 2025, compared to prior year's profit, on charges and weak sales. Orders edged down. Further, the company initiated fiscal 2026 2026, and reaffirmed its medium-term outlook.
In fiscal 2025, the company reported a net loss of 110.65 million Swiss francs, compared to net profit of 67.66 million francs last year. Basic loss per share was 8.74 francs, compared to profit of 5.30 francs last year.
The latest results were impacted by non-cash impairment charges of 139.5 million francs from the strategic restructuring of less profitable or loss-making product lines in the Partnering Business.
Adjusted net profit amounted to 87.0 million francs, compared to 103.1 million francs a year ago. Adjusted earnings per share were 6.87 francs, compared to 8.08 francs last year.
Adjusted EBITDA was 142.1 million francs, compared to prior year's 164.4 million francs. Adjusted EBITDA margin of 16.1 percent dropped from 17.6 percent last year, impacted by adverse foreign exchange effects and tariffs, partly offset by cost-reduction measures and underlying improvements.
Group sales for 2025 decreased 5.5 percent to 882.48 million francs from 934.28 million francs last year. Sales fell 1.6 percent in local currencies.
Order entry reached 900.9 million francs for full-year 2025, down 0.3 percent from 903.6 million francs a year ago. Order entry increased by 3.8 percent in local currencies.
Further, the Board of Directors will propose an unchanged dividend of 3.00 francs per share at the Annual General Meeting on April 15.
Looking ahead for 2026, Tecan forecasts an adjusted EBITDA margin of 15.5 percent to 16.5 percent of sales. The forecast reflects an underlying profitability improvement of 50 to 150 basis points as a result of the ongoing transformation program.
Sales are expected to increase in the low single-digit percentage range in local currencies, with the relevant market anticipated to remain broadly flat.
Tecan also reiterated its medium-term outlook, and expects a continued gradual improvement in end markets, with market growth increasing to a range of 1 percent to 3 percent in the years 2027-2028.
Tecan's ambition is to achieve sales of 1 billion francs and a 20 percent adjusted EBITDA margin by 2028, supported by the ongoing transformation program contributing 200-300 basis points.
From 2029 onwards, Tecan assumes a return to normal market conditions, with market growth in the previous range of 3 percent to 5 percent.
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