2 Summary of significant accounting policies


2.1 Basis of preparation

The financial statements of Tecan Group Ltd. (the ‘Company’) have been prepared in accordance with the provisions on ­accounting and financial reporting of the Swiss Code of Obligations (32nd title) introduced on January 1, 2013. They are a supplement­ to the consolidated financial statements prepared in accordance with International Financial Reporting Standards (IFRS). While the consolidated financial statements reflect the economic situation of the Group as a whole, the information reported in the Company’s financial statements relates to the ultimate parent company alone. The retained earnings disclosed in these financial statements provide the basis for the decision regarding the distribution of earnings to be made during the Annual General Meeting of Shareholders.


Subsidiaries include all legal entities which are directly or indirectly owned and controlled by the Company.


As consolidated financial statements are provided, the Company is exempt from the disclosure of a management report, a cash flow statement and extended information in the notes.

2.2 Accounting and valuation principles


2.2.1 Loans

Loans are valued at historical costs adjusted for foreign ­currency translation differences and less any impairment of value.


2.2.2 Investments in subsidiaries

Investments are valued at historical costs less any impairment of value, applying the single-asset-valuation principle.


2.2.3 Provisions

Provisions are recognized when the Company has a present legal or constructive obligation as a result of past events, it is probable that the outflow of resources will be required to settle the obligation, and a reliable estimate of the amount can be made.