-- 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)