Tecan"s Capital Markets Day highlights strategic growth drivers, groundbreaking innovation and product launches
Männedorf, Switzerland, October 22, 2024 - The Tecan Group (SIX Swiss Exchange: TECN) is hosting a Capital Markets Day, including a live webcast, today in Männedorf, Switzerland, providing investors with an in-depth view of the company"s solid foundations for continued growth and profitability improvements. The strategic growth drivers that enable the company to capitalize on industry megatrends will be in focus, including groundbreaking innovation and product launches.
Following a site visit and product demonstrations at Tecan"s laboratory facilities in Hombrechtikon, guests will meet with Tecan"s CEO and key team members in the company"s Männedorf headquarters. Tecan CEO, Dr. Achim von Leoprechting commented: «Despite a more challenging 2024, Tecan has a proven track record of outpacing the growth of our underlying end markets over the past decade. Today, I"m pleased to give our investors a closer look at the factors that enable us to continue this trajectory over the coming years. In challenging market conditions, highlighting the strong fundamentals of our business provides a valuable opportunity. Tecan operates in an industry poised for notable future growth, and we"re uniquely positioned within this, offering a full range of products and services that meet and anticipate customer needs.»
At the Capital Markets Day Tecan reaffirms its mid-term financial outlook, expecting to continue outperforming the average growth rate of the underlying end markets in normal market conditions while at the same time further expanding profitability. Key strategic growth drivers for the company include commercial expansion through an increased footprint and channels in key regions, as well as Tecan"s primary capital deployment strategy of further inorganic expansion through M&A, in addition to:
High-Growth Applications: Tecan is addressing the high growth segments of the genomics, cell and tissue, and proteomics markets, with products that unlock bottlenecks in key workflows to accelerate reliable, scalable processes and deliver reproducible results. Through its Partnering Business, Tecan is also addressing fast-growing segments of the medtech market, such as soft tissue and orthopedic robotic surgery, as well as products for cardiovascular applications.
Rapid Innovation: At Tecan"s Capital Markets Day, the company will demonstrate how it is leveraging the modularity of its powerful software and hardware platforms to redefine lab automation. Shared hardware and software platforms serve the company"s Life Sciences Business and Partnering Business divisions, with modularity accelerating the timely and cost-effective development of new systems. The Capital Markets Day event will include a first look at Tecan"s groundbreaking new multiomics platform.
Tecan has established a leading open digital ecosystem for laboratories. Its modular approach enables fast-paced innovation. With user-friendly interfaces for operators, managers and systems, Tecan"s digital building blocks accelerate the development of robust, tailored solutions for high-performance applications. These digital tools and flexible, ready-to-use automation technologies are key drivers of growth that facilitate even the cutting edge of AI-driven analytics and drug discovery.
Strategic Partnerships: Tecan is uniquely positioned to partner with life science, lab diagnostics and medtech companies to accelerate market adoption of their innovative healthcare solutions. At Capital Markets Day, Tecan will provide additional details about the high-value long-term partnerships, including a number of new relationships, which make the company"s Partnering Business an essential contributor to its financial success and able to outperform growth in the underlying end markets.
Financial Outlook
Tecan will continue to pursue margin expansion based on a proven track record of volume growth, scalability and rigorous cost discipline. At the Capital Markets Day, Tecan"s CFO Tania Micki will present a selection of the company"s programs and drivers for further EBITDA expansion, including leveraging economies of scale, vertical integration, modularity in R&D, and process improvements, leading to an average annual increase in the adjusted EBITDA margin of +30-50 basis points, based on the original 2024 outlook of around 20%.
Tecan"s demonstrated track record of above-market growth, margin expansion, strong cash conversion, and CAPEX-light requirements, have created a healthy basis from which to continue pursuing an accretive M&A strategy. Supported by a range of strategic growth drivers, Tecan anticipates returning to average organic growth rates in the mid to high single-digit percentage range in local currencies under normal market conditions.
Webcast details
Date: October 22, 2024
Time: 2 p.m. CEST
Link: Access the webcast here
This link can also be found at Tecan.com/investor-overview
Key upcoming dates
- The 2024 Annual Report will be published on March 12, 2025
- The Annual General Meeting of Tecan"s shareholders will take place on April 10, 2025
About Tecan
Tecan (www.tecan.com) improves people"s lives and health by empowering customers to scale healthcare innovation globally from life science to the clinic. Tecan is a pioneer and global leader in laboratory automation. As an original equipment manufacturer (OEM), Tecan is also a leader in developing and manufacturing OEM instruments, components and medical devices that are then distributed by partner companies. Founded in Switzerland in 1980, the company has more than 3,500 employees, with manufacturing, research and development sites in Europe, North America and Asia, and maintains a sales and service network in over 70 countries. In 2023, Tecan generated sales of CHF 1,074 million (USD 1,194 million; EUR 1,108 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/94d5a2bf-271a-459b-80ea-fa96b8f16c60)
