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Männedorf, Switzerland, October 9, 2013 - The Tecan Group (SIX Swiss Exchange: TECN) today announced that the company continues to grow in a challenging business environment. Tecan maintains its outlook for an increased operating profit margin and adjusts its revenue outlook for 2013. As communicated before, the operating profit margin is expected to grow by around 50 basis points in 2013 compared with 2012. In Tecan's Life Sciences Business division, the market developments in North America and Europe continue to be tough and timing of end-customer orders remain hard to predict. Based on stable sales for the Group in the first half of 2013 and a lower than anticipated order entry in the Life Science Business to date, the company now expects moderate growth in local currency terms for fiscal year 2013. Previously, Tecan was targeting sales growth to be in the mid-single-digit percentage range. The Partnering Business continues to grow at a good level.
The current U.S. government shutdown adds additional uncertainty, potentially delaying or putting on hold orders from federal agencies. In case the shutdown continues for a protracted period, Tecan's 2013 results may be further impacted.
Tecan does not see the medium-term targets for 2015 communicated earlier this year as affected by the headwinds in 2013. With important product launches ahead in both divisions and substantial contributions to sales growth from China, the components business and services and consumables, the major organic growth drivers are intact. Therefore, Tecan continues to expect for 2015 at current exchange rates sales of around CHF 500 million and an increased operating profit margin.
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 automated workflow 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 2012, Tecan generated sales of CHF 391 million (USD 416 million; EUR 323 million). Registered shares of Tecan Group are traded on the SIX Swiss Exchange (TECN; ISIN CH0012100191).
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