Tecan climbs on strong H1 results

Tecan AG

17/08/2022 08:00

** Shares of Swiss laboratory instruments maker Tecan Group
AG  TECN.S  are up 6.1% in pre-market after H1 beat and raised
FY sales outlook  urn:newsml:reuters.com:*:nASM000NP7
    ** Tecan's H1 sales grow by 28.6% to 584 million Swiss
francs ($614 million) while adj. EBITDA rises 3.5% to 119.1
million francs, corresponding to a margin of 20.4%
    ** Credit Suisse says H1 sales and adj. EBITDA beat
consensus estimates of 543 million and 106 million francs,
respectively
    ** "H1 order entry solid, up 2% organic," the broker adds
    ** Tecan now sees FY sales growth in a mid- to high-teens
percentage range in local currencies vs. mid-teens previously
    ** CS says the new guidance "looks conservative"

($1 = 0.9515 Swiss francs)

 (Reporting by Anastasiia Kozlova)
 ((Anastasiia.Kozlova@thomsonreuters.com))