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Press Release: Tecan raises forecast for the full year of 2020 based on continued extraordinary demand for COVID-19 related products

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Sales growth now expected to be in the low to mid-teens percentage range
in local currencies

Reported EBITDA margin now forecasted above 20.5% of sales


Männedorf, Switzerland, 1 December, 2020 Based on the strong
business performance year to date, as well as on the high order backlog
and the continued elevated demand for COVID-19 related products, the
Tecan Group (SIX Swiss Exchange: TECN) once again raised its outlook for
full-year sales and reported EBITDA margin. These updated projections
continue to be based on the assumptions that also for the remainder of
the year supply chains and freight logistics remain undisrupted and all
production sites stay fully operational.

Based on continued strong demand for a number of product lines to help
in the global fight against the coronavirus pandemic, Tecan now
forecasts sales growth for full-year 2020 to be in the low to mid-teens
percentage range in local currencies (latest guidance from August 12,
2020: "high single-digit percentage range").

At the same time, Tecan now expects a reported EBITDA margin in fiscal
year 2020 of more than 20.5% of sales (latest guidance from August 12,
2020: "reported EBITDA margin closer to 20% of sales"). The increase in
reported EBITDA will mainly be driven by benefits of scale due the
significantly higher volumes. Additionally, it will benefit from
extraordinary effects as well as from a positive impact of an overall
cost base which is not yet fully adjusted to the significantly higher
sales volumes. The revised expectation regarding profitability also
reflects the current currency environment, leading to an updated
full-year exchange rate forecast of one US dollar equaling CHF 0.93
(previously CHF 0.95) and one euro equaling CHF 1.08 (unchanged). This
negative foreign exchange rate impact is already factored into the
revised outlook.

The original guidance for the fiscal year 2020 provided on March 17,
2020 called for sales growth to be in the mid- to high single-digit
percentage range in local currencies and a reported EBITDA margin of
around 19.6% of sales (at one US dollar equaling CHF 0.98 and one euro
equaling CHF 1.08).

About Tecan

Tecan (www.tecan.com) is a leading global provider of laboratory
instruments and solutions in biopharmaceuticals, forensics and clinical
diagnostics. The company specializes in the development, production and
distribution of automation solutions for laboratories in the life
sciences sector. Its clients include pharmaceutical and biotechnology
companies, university research departments, forensic and diagnostic
laboratories. As an original equipment manufacturer (OEM), Tecan is also
a leader in developing and manufacturing OEM instruments and components
that are then distributed by partner companies. Founded in Switzerland
in 1980, the company has manufacturing, research and development sites
in both Europe and North America and maintains a sales and service
network in 52 countries. In 2019, Tecan generated sales of CHF 637
million (USD 643 million; EUR 574 million). Registered shares of Tecan
Group are traded on the SIX Swiss Exchange (TECN; ISIN CH0012100191).

For further information:

Tecan Group

Martin Brändle

Senior Vice President, Corporate Communications & IR

Tel. +41 (0) 44 922 84 30

Fax +41 (0) 44 922 88 89

investor@tecan.com

www.tecan.com

Attachment


Press Release
https://ml-eu.globenewswire.com/Resource/Download/5f4bb27d-3aad-4a2b-acb4-fe3054f170e3








(END) Dow Jones Newswires

December 01, 2020 12:02 ET ( 17:02 GMT)
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