Tecan Group AG / Tecan issues H2 2014 trading update . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.
- Good sales growth trend in the second half of 2014: mid single-digit organic growth in local currencies expected
- Strong recovery in the Partnering Business with anticipated double-digit sales growth in local currencies
- IBL International integration going well; expected to exceed sales outlook
- Organic sales outlook for financial year 2014 adjusted to low single-digit percentage growth in local currencies
- Confirming target for total Group operating profitability
- Reconfirming strongly accelerated growth in 2015
Männedorf, Switzerland, December 1, 2014 - The Tecan Group (SIX Swiss Exchange: TECN) today issued a trading update for the second half of 2014.
Tecan CEO David Martyr commented: "After a difficult first half with declining sales and our Partnering Business suffering from delays in order placement from two large customer accounts, it is good to see the growth trend in the second half is supported by the Partnering Business recouping the shortfall from the beginning of the year. We are now on a trajectory we had anticipated for the full year and with the planned ramping up of major Partnering Business projects we expect strongly accelerated growth in 2015."
Tecan sees a good trend in sales and expects to generate organic sales growth in the mid single-digit percentage range in the second half of 2014. After recording declining sales in the first half of the year, the Partnering Business recovered strongly and is anticipated to post double-digit sales growth in the second half. The Life Sciences Business, as already reported for the first half-year, has been progressing well in the established markets in North America and Europe compared to 2013. However, as reported before, the business environment in China remains challenging. Although sales in the region have been improving in the second half compared to the beginning of the year, a return to normal trends in China is only expected in the course of 2015.
The integration of IBL International, included in the consolidated financial statements of the Tecan Group since August 1, 2014, is progressing well and sales for the five months period are expected to exceed the initial outlook of a mid single-digit million Swiss franc sales contribution.
Momentum of order flow has been particularly strong for the Partnering Business in recent weeks. However, not all orders can be converted to sales in fiscal year 2014 due to the late timing of some of those orders. Therefore, the organic sales outlook for the financial year 2014 is adjusted to low single-digit percentage growth in local currencies compared to in the mid single-digit percentage range previously communicated.
Tecan is confirming the outlook for the total Group operating profitability, including IBL International, which was given at the half-year reporting on August 13, 2014.
Tecan is also reconfirming the expectation of strongly accelerated sales growth during 2015. Total Group sales are anticipated to increase with a double-digit rate in local currencies. This strong growth will be driven by a continued ramp up of major Partnering Business platforms and further supported by additional product introductions in both divisions.
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 automated workflow solutions for laboratories in the life sciences sector. Its clients include pharmaceutical and biotechnology companies, university research departments, and 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 2013, Tecan generated sales of CHFÂ 388Â million (USDÂ 419Â million; EURÂ 316Â million). Registered shares of Tecan Group are traded on the SIX Swiss Exchange (TECN; ISIN CH0012100191).
For further information:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
                                                                    Â
| Tecan Group | Â |
| Dr. Rudolf Eugster | Martin Brändle |
| Chief Financial Officer | Head of Corporate Communications & |
| Â | Investor Relations |
| investor@tecan.com (mailto:investor@tecan.com) | Tel. +41 (0) 44 922 84 30 |
| www.tecan.com (http://www.tecan.com/) | Fax +41 (0) 44 922 88 89 |
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Tecan Group AG via Globenewswire
--- End of Message ---
Tecan Group AG
Seestrasse 103 Maennedorf Switzerland
ISIN: CH0012100191;
