- The Stories
- Investor Relations
- Corporate Governance
- 1 Group structure and shareholders
- 2 Capital structure
- 3 Board of Directors
- 4 Management
- 5 Content and method of determining compensation and stock option plans
- 6 Shareholders’ participation rights
- 7 Change of control and defense measures
- 8 Statutory auditors
- 9 Information policy
- 10 Blackout periods
- Compensation Report
- Financial Report 2023
- Chief Financial Officer’s Report
- Five-year consolidated data
- Consolidated financial statements
- Notes to the consolidated financial statements
- 1 Reporting entity
- 2 Summary of material accounting policies
- 3 Scope of consolidation
- 4 Sales – revenue from contracts with customers
- 5 Sales – income from operating lease arrangements (group as lessor)
- 6 Segment information
- 7 Operating expenses by nature
- 8 Research and development
- 9 Other operating result
- 10 Financial result
- 11 Earnings per share
- 12 Employee benefits
- 13 Income taxes
- 14 Cash and cash equivalents
- 15 Other current financial assets
- 16 Trade accounts receivable
- 17 Inventories
- 18 Non-current financial assets
- 19 Property, plant and equipment
- 20 Right-of-use assets (group as lessee)
- 21 Intangible assets and goodwill
- 22 Financial liabilities
- 23 Contract liabilities
- 24 Government grants
- Statutory Auditor´s Report on the Consolidated Financial Statements
- Balance sheet of Tecan Group Ltd.
- Income statement of Tecan Group Ltd.
- Notes to the financial statements of Tecan Group Ltd.
- 1 Reporting entity
- 2 Summary of significant accounting policies
- 3 Investments in subsidiaries
- 4 Bond
- 5 Provision for general business risks
- 6 Shareholders’ equity
- 7 Number of employees
- 8 Number of shares and share options
- 9 Guarantees in favor of third parties
- 10 Liabilities from lease arrangements not included in the balance sheet
- 11 Subsequent events
- 12 Information according to article 663c of the Swiss code of obligations
- Statutory Auditor`s Report on the Financial Statements of Tecan Group Ltd.
- Performance of the Tecan share in 2023
4 SALES – REVENUE FROM CONTRACTS WITH CUSTOMERS
4.1 DISAGGREGATION OF REVENUE AND RECONCILIATION TO SEGMENT INFORMATION
| Life Sciences Business | Partnering Business | Total 2022 | ||||||
| Revenue contracts with customers | Leases | Sales | Revenue contracts with customers | Leases | Sales
| Revenue contracts with customers | Leases | Total
|
CHF 1,000 |
|
|
|
|
|
|
|
|
|
By regions (location of customer) |
|
|
|
|
|
|
|
|
|
Europe | 161,643 | 1,034 | 162,677 | 216,712 | - | 216,712 | 378,355 | 1,034 | 379,389 |
Americas | 235,011 | - | 235,011 | 342,247 | - | 342,247 | 577,258 | - | 577,258 |
Asia | 82,020 | - | 82,020 | 89,688 | - | 89,688 | 171,708 | - | 171,708 |
Others | 12,592 | - | 12,592 | 3,314 | - | 3,314 | 15,906 | - | 15,906 |
|
|
|
|
|
|
|
|
|
|
Total | 491,266 | 1,034 | 492,300 | 651,961 | - | 651,961 | 1,143,227 | 1,034 | 1,144,261 |
|
|
|
|
|
|
|
|
|
|
By products and services |
|
|
|
|
|
|
|
|
|
Products | 389,408 | - | 389,408 | 587,240 | - | 587,240 | 976,648 | - | 976,648 |
Services | 101,858 | - | 101,858 | 64,721 | - | 64,721 | 166,579 | - | 166,579 |
Leases | - | 1,034 | 1,034 | - | - | - | - | 1,034 | 1,034 |
|
|
|
|
|
|
|
|
|
|
Total | 491,266 | 1,034 | 492,300 | 651,961 | - | 651,961 | 1,143,227 | 1,034 | 1,144,261 |
|
|
|
|
|
|
|
|
|
|
By timing of revenue recognition |
|
|
|
|
|
|
|
|
|
Point in time | 425,645 | - | 425,645 | 309,586 | - | 309,586 | 735,231 | - | 735,231 |
Over time | 65,621 | - | 65,621 | 342,375 | - | 342,375 | 407,996 | - | 407,996 |
Leases | - | 1,034 | 1,034 | - | - | - | - | 1,034 | 1,034 |
|
|
|
|
|
|
|
|
|
|
Total | 491,266 | 1,034 | 492,300 | 651,961 | - | 651,961 | 1,143,227 | 1,034 | 1,144,261 |
| Life Sciences Business | Partnering Business | Total 2023 | ||||||
| Revenue contracts with customers | Leases | Sales | Revenue contracts with customers | Leases | Sales | Revenue contracts with customers | Leases | Total |
CHF 1,000 |
|
|
|
|
|
|
|
|
|
By regions (location of customer) |
|
|
|
|
|
|
|
|
|
Europe | 133,451 | 923 | 134,374 | 159,188 | - | 159,188 | 292,639 | 923 | 293,562 |
Americas | 232,466 | - | 232,466 | 378,472 | - | 378,472 | 610,938 | - | 610,938 |
Asia | 75,981 | - | 75,981 | 82,018 | - | 82,018 | 157,999 | - | 157,999 |
Others | 8,975 | - | 8,975 | 2,912 | - | 2,912 | 11,887 | - | 11,887 |
|
|
|
|
|
|
|
|
|
|
Total | 450,873 | 923 | 451,796 | 622,590 | - | 622,590 | 1,073,463 | 923 | 1,074,386 |
|
|
|
|
|
|
|
|
|
|
By products and services |
|
|
|
|
|
|
|
|
|
Products | 344,322 | - | 344,322 | 568,056 | - | 568,056 | 912,378 | - | 912,378 |
Services | 106,551 | - | 106,551 | 54,534 | - | 54,534 | 161,085 | - | 161,085 |
Leases | - | 923 | 923 | - | - | - | - | 923 | 923 |
|
|
|
|
|
|
|
|
|
|
Total | 450,873 | 923 | 451,796 | 622,590 | - | 622,590 | 1,073,463 | 923 | 1,074,386 |
|
|
|
|
|
|
|
|
|
|
By timing of revenuerecognition |
|
|
|
|
|
|
|
|
|
Point in time | 380,009 | - | 380,009 | 278,394 | - | 278,394 | 658,403 | - | 658,403 |
Over time | 70,864 | - | 70,864 | 344,196 | - | 344,196 | 415,060 | - | 415,060 |
Leases | - | 923 | 923 | - | - | - | - | 923 | 923 |
|
|
|
|
|
|
|
|
|
|
Total | 450,873 | 923 | 451,796 | 622,590 | - | 622,590 | 1,073,463 | 923 | 1,074,386 |
4.2 Contract balances
| Notes | 31.12.2022 | 31.12.2023 |
CHF 1,000 |
|
|
|
Trade accounts receivable | 16 | 156,835 | 158,677 |
Contract assets |
| 25,280 | 35,490 |
Current contract liabilities | 23 | (100,177) | (82,475) |
Non-current contract liabilities | 23 | (11,149) | (8,482) |
Trade accounts receivable are non-interest bearing and are generally on terms of 30 to 90 days. In 2023, CHF 2.4 million (2022: CHF 3.0 million) was recognized as allowance for expected credit losses.
Contract assets are initially recognized for revenue earned for the installation of complex instruments, contractmanufacturing as well as engineering services without delivery of instruments, if the contracts fulfil the criteria for revenue recognition over time. The amounts recognized as contract assets are reclassified to trade accounts receivable to the extent they can be billed to the customer. There are no allowances for expected credit losses in 2022 and 2023.
Set out below is the amount of revenue recognized from
| 2022 | 2023 |
CHF 1,000 |
|
|
Amounts included in contract liabilities at the beginning of the year | 82,725 | 97,998 |
Performance obligations satisfied in previous years | – | – |
4.3 Performance obligations
The transaction price allocated to the remaining performance obligations (unsatisfied or partially unsatisfied) as of December 31 are as follows:
| 31.12.2022 | 31.12.2023 | ||||
| Contract liabilities | Performance obligations | Total remaining performance obligations | Contract liabilities | Performance | Total remaining |
CHF 1,000 |
|
|
|
|
|
|
Expected to be recognized |
|
|
|
|
|
|
Within one year | 100,177 | 339,839 | 440,016 | 82,475 | 275,946 | 358,421 |
More than one year | 11,149 | 28,051 | 39,200 | 8,482 | 37,391 | 45,873 |
|
|
|
|
|
|
|
Total transaction price allocated | 111,326 | 367,890 | 479,216 | 90,957 | 313,337 | 404,294 |
Follow Tecan