Tecan Group (TCGGY) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. Thank you for joining our conference call this morning to discuss the results for the first half of 2024 with you. With me on the call are our Chief Executive Officer, Dr. Achim von Leo Brechting, and our Chief Financial Officer, Tanja Micki. Before we begin, let's quickly go over a few formalities as usual. The corresponding press release Announcing our financial results was issued this morning at 6 a.m. Central European summertime. Both the press release and the 2024 interim report are available on our company website, teken.com, under the investor relations tab. I'd like to remind you that this call has been webcast live on our homepage. And additionally, the PDF of the presentation slides, which we will be discussing during this call, is available for download. With that, let me now turn the call over to Achim von Leo Prechte. Achim von Leo Prechte Thank you very much, Martin. Good morning and welcome to the TECAN 2024 half-year results presentation. Before Tanja will discuss the financial results of the first half of 2024 in detail, I will give you, as always, an overview of the financial and operational highlights. Our results for the first half of 2024 reflect the challenging market environment, with sales decreasing by 11.6% in local currencies compared to the same period last year to 467.2 million Swiss francs. As our profitability is highly dependent on volume, this is reflected in an adjusted net profit for the first half of 2024 of 36.5 million Swiss francs resulting in an adjusted earnings per share of 2.86 Swiss francs. Adjusted EBTA is 67.9 million Swiss francs, with an adjusted EBTA margin of 14.5 percent. The decline in sales is due, in large part, to reduced spending in the biopharma sector, where a reduction of more than 25 ...