Tecan rises as 2024 sales beat market expectations
09/01/2025 08:44
** Shares of Tecan Group TECN.S rise 8.4% after the Swiss
life science equipment maker posted FY24 sales that Vontobel
says were "just ahead of market expectations"
** It reports 2024 sales of 934.3 million Swiss francs
($1.02 billion) late on Wednesday, which the broker says is
above both its 912 million franc estimate and consensus
** "Tecan reported FY24 sales that were slightly better than
estimated, driven by a less deteriorated Partnering Business in
challenging markets," Vontobel says
** The group also says it met 2024 sales outlook, which it
cut in October, and reaffirms its mid-term outlook
** The shares are on track for their best day since June
2021 if the gains hold
($1 = 0.9117 Swiss francs)
(Reporting by Anastasiia Kozlova)
((Anastasiia.Kozlova@thomsonreuters.com))