Qiagen N.v. · NYSE:QGEN
Qiagen — Q4 2021 Earnings Presentation
33 slides from Qiagen's earnings presentation, Feb 9, 2022
Slide 1: Q4 and full-year 2021 results
Q4 and full-year 2021 results Exceeded outlook with strong performance from non-COVID product groups Sample to Insight Q4 and Full-year 2021 results
Slide 2: Forward looking and intended use statements
Forward looking and intended use statements Safe Harbor Statement: This presentation contains both historical and forward-looking statements. All statements other than statements of historical fact are, or may be, deemed to be forward looking statements within the meaning of Section 27A of the U.S.
Slide 3: Q4 and FY 2021: Proven commitment to execute and exceed targets
Q4 and FY 2021: Proven commitment to execute and exceed targets Net sales (CER) Q4 2021: +4% vs. ~-9% outlook +10% non-COVID products FY 2021: +19% vs. ≥+15% outlook +22% non-COVID products Adj. EPS Q4 2021: $0.75 CER vs. ≥ $0.60 outlook FY 2021: $2.63 CER vs. ≥ $2.48 outlook CER - Constant Exchange
Slide 4: FY 2021: Strong performance laying foundation for future growth
FY 2021: Strong performance laying foundation for future growth High-performing Strengthening key Strong Solid core business portfolios cash flow 2022 outlook +22% CER growth in Rapidly growing 40% rise in operating cash Sales: >$2.07 billion FY 2021 in non-COVID installed base of systems flow to $6
Slide 5: FY 2021: Solid growth beyond COVID in all product groups
FY 2021: Solid growth beyond COVID in all product groups Non-COVID / COVID split By product group (In $ millions at actual rates) (In $ millions at actual rates) +19% CER +19% CER $2,252 $2,252 $1,870 $1,870 851 Sample technologies +4% CER 1,547 Non-COVID 804 product groups 1,252 Diagnostic +22% CER
Slide 6: FY 2021: Strong trends across all regions
FY 2021: Strong trends across all regions Americas • Solid gains in non-COVID product group sales • U.S. delivers 25% CER growth Europe / Middle East / Africa • Double-digit CER growth in non-COVID product groups • Austria, UK, Italy and Switzerland with double-digit CER growth • France and Germany
Slide 7: FY 2021: Investing in the business while creating value
FY 2021: Investing in the business while creating value Adj. operating income Adjusted EPS Operating cash flow (In $ millions) (In $ per share) (In $ millions) Targeted investments into key drivers $639 ~65% of R&D spending focused on five pillars of growth 190 $458 $755 $2.65 Disciplined operating
Slide 8: Five pillars of growth: Driving sustainable post-pandemic expansion
Five pillars of growth: Driving sustainable post-pandemic expansion Sample QIAstat-Dx NeuMoDx QIAcuity QuantiFERON technologies digital PCR QIAwave product line of QuantiFERON-TB Gold CE-IVD registration EU menu now consists 70% of states in U.S. environmentally friendly completed for of 15 CE-IVD m
Slide 9: Five pillars of growth: Expected trends in 2022 and beyond
Five pillars of growth: Expected trends in 2022 and beyond 2021 Cumulative 2022 sales goals placements sales goals Mid-term goals (CER) (As of Jan 2022) (CER) QIAsymphony >3,000 • Sustainable low- to mid- Sample technologies >$750 m QIAcube >13,000 >$750 m EZ1 and EZ2 >4,800 single-digit CER growth
Slide 10: QIAstat-Dx: Expanding menu in U.S. and Europe
QIAstat-Dx: Expanding menu in U.S. and Europe Broadening the addressable market with QIAstat-Dx Rise Growing test menu CE-IVD FDA Gastrointestinal Small hospitals Medium-sized hospitals National reference labs, Public health labs Regional reference labs Large IDNs Respiratory Single test run Runs 4
Slide 11: QIAcuity: Capturing opportunities in digital PCR
QIAcuity: Capturing opportunities in digital PCR Partnerships to broaden the reach of QIAcuity Application Partner Assay technology SARS-CoV-2 Wastewater Surveillance assay • Highly accurate ultrasensitive viral RNA analysis Wastewater testing • U.S. CDC compliant workflow NEW iSAFE™ NIPT Kit for us
Slide 12: QIAwave: New eco-friendly versions of best-selling kits
QIAwave: New eco-friendly versions of best-selling kits NEW QIAwave RNA Mini Kit / QIAwave DNA Blood & Tissue Kit / QIAwave Plasmid Miniprep Kit • Waste tubes made from 100% post-consumer recycled plastic Up to 63% less plastic • 86% reduction in concentrated buffers plastic materials • No printed p
Slide 13: Committed to building a sustainable business
Committed to building a sustainable business We have set ambitious goals By 2050: Goal: Goal: Carbon neutral 35% women in 100% 2030 interim goal: 40% leadership in 2022 reduction in Scope 1 and 2, Suppliers committed to 10% reduction in Scope 3 2021 level: 33% sustainable improvement goals by 2023 M
Slide 14: Outlook: Q1 and FY 2022
Outlook: Q1 and FY 2022 Q1 2022 outlook FY 2022 outlook > 7% CER ≥ $2.07 billion Net sales Adverse FX impact of ~ -3 p.p Adverse FX impact of ~ -2 p.p. Anticipated currency impact (Prior year: $567.2 m) (Prior year: $2,251.7 m) Non-COVID product groups Double-digit CER growth ≥ $0.72 CER ≥ $2.05 CER
Slide 15: Appendix
Appendix Sample to Insight Q4 and Full-year 2021 results
Slide 16: Q1 and FY 2022: Outlook and assumptions
Q1 and FY 2022: Outlook and assumptions (As of February 8, 2022) Q1 2022 outlook FY 2022 outlook > 7% CER growth > $2.07 billion Net sales (Prior year: $567.2 m) (Prior year: $2,251.7 m) Anticipated currency impact(1) Adverse impact of ~ -3 p.p. Adverse impact of ~ -2 p.p. > $0.72 CER > $2.05 Adjust
Slide 17: Q4: Consolidated Statements of Income (unaudited)
Q4: Consolidated Statements of Income (unaudited) Three months ended Three months ended (In $ thousands, except share data) December 31, 2021 December 31, 2020 Net sales 582,398 571,234 Cost of sales: Cost of sales 193,143 180,383 Acquisition-related intangible amortization 15,431 17,418 Total cost
Slide 18: FY: Consolidated Statements of Income (unaudited)
FY: Consolidated Statements of Income (unaudited) Twelve months ended Twelve months ended (In $ thousands, except share data) December 31, 2021 December 31, 2020 Net sales 2,251,657 1,870,346 Cost of sales: Cost of sales 733,719 574,467 Acquisition-related intangible amortization 67,118 63,164 Total
Slide 19: 2021: Quarterly sales by product group
2021: Quarterly sales by product group (In $ millions at actual rates / Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 change in actual, CER rates) Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sample technologies 227 47% 42% 203 1% -3% 202 -5% -6% 218 -7% -5% 851 6% 4% Diagnos
Slide 20: 2020: Quarterly sales by product group
2020: Quarterly sales by product group (In $ millions at actual rates / Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 change in actual, CER rates) Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sample technologies 154 22% 24% 200 46% 49% 214 57% 56% 236 59% 55% 804 47% 47% Diag
Slide 21: 2021: Sales by non-COVID and COVID-19 product groups
2021: Sales by non-COVID and COVID-19 product groups (In $ millions at actual rates / Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 change in actual, CER rates) Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Non-COVID product groups 364 20% 16% 408 57% 52% 376 18% 17% 400 8% 10
Slide 22: 2020: Sales by non-COVID and COVID-19 product groups
2020: Sales by non-COVID and COVID-19 product groups (In $ millions at actual rates / Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 change in actual, CER rates) Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Non-COVID product groups 303 -5% -4% 259 -25% -23% 320 -8% -8% 371 0%
Slide 23: 2021: Quarterly sales by product type, customer class and region
2021: Quarterly sales by product type, customer class and region (In $ millions at actual rates / Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 change in actual, CER rates) Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Product type Consumables and related 498 53% 48% 498 33% 2
Slide 24: 2020: Quarterly sales by product type, customer class and region
2020: Quarterly sales by product type, customer class and region (In $ millions at actual rates / Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 change in actual, CER rates) Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Product type Consumables and related 326 4% 6% 375 12% 14%
Slide 25: Q4 and FY 2021: Reconciliation adjusted results (unaudited)
Q4 and FY 2021: Reconciliation adjusted results (unaudited) Net Gross Operating Pretax Income Tax Net Diluted (In $ millions, except EPS) sales profit income income tax rate income EPS Fourth quarter 2021 Reported results 582.4 373.8 173.1 165.4 (36.2) 22% 129.2 0.56 Adjustments Business integration
Slide 26: Q4 and FY 2021: Footnotes for reconciliation adjusted results
Q4 and FY 2021: Footnotes for reconciliation adjusted results (unaudited) a) Results for 2021 include integration-related activities for the NeuMoDx acquisition in September 2020. Results for 2020 include expenses associated with the public takeover offer for QIAGEN. A restructuring program was init
Slide 27: 2021: Quarterly and full-year income statement summary
2021: Quarterly and full-year income statement summary (In $ millions, unless indicated) (Diluted EPS in $ per share) Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 Net sales 567.2 567.3 534.7 582.4 2,251.7 Net sales (CER) 549.5 547.7 530.8 593.8 2,221.8 Gross profit 370.6 369.2 337.2 373.8 1,450.8 Gross p
Slide 28: 2020: Quarterly and full-year income statement summary
2020: Quarterly and full-year income statement summary (In $ millions, unless indicated) (Diluted EPS in $ per share) Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 Net sales 372.1 443.3 483.8 571.2 1,870.3 Gross profit 243.5 295.0 320.8 373.4 1,232.7 Gross profit margin 65.5% 66.5% 66.3% 65.4% 65.9% Adjus
Slide 29: Consolidated Balance Sheets
Consolidated Balance Sheets December 31, December 31, December 31, December 31, (In $ thousands, except par value) 2021 2020 (In $ thousands, except par value) 2021 2020 Assets (unaudited) Liabilities and Equity (unaudited) Cash and cash equivalents 880,516 597,984 Current portion of long-term debt
Slide 30: Consolidated Statements of Cash Flows (unaudited)
Consolidated Statements of Cash Flows (unaudited) Twelve months ended Dec 31, Dec 31, Twelve months ended Dec 31, Dec 31, (In $ thousands) 2021 2020 (In $ thousands) 2021 2020 Cash flows from operating activities: Cash flows from financing activities: Net income 512,599 359,188 Proceeds from long-te
Slide 31: Q4 and FY 2021: Currency impact
Q4 and FY 2021: Currency impact Net sales Net sales Currency exposure Change (In $ millions / Actual) (CER) (As % of CER sales) (In $ millions) Q4 2021 U.S. dollar 274.6 274.6 46% 0.0 Euro 152.8 159.6 27% 6.8 British pound 20.9 20.4 4% -0.5 Japanese yen 17.2 18.8 3% 1.5 Other currencies 116.8 120.4
Slide 32: Employees as of December 31, 2021
Employees as of December 31, 2021 Europe / Middle Asia Pacific / Total Total Americas East / Africa Japan / ROW Q4 2021 Q4 2020 Change Production 431 1,229 158 1,818 1,566 16% R&D 215 721 56 992 902 10% Sales 583 859 795 2,237 2,192 2% Marketing 77 189 85 351 330 6% Administration 78 391 161 630 620
Slide 33: Your contacts
Your contacts Phoebe Loh Senior Director Calendar Global Investor Relations Q1 2022 results April 2022 Phone: +49 2103 29 11457 Mobile: +49 152 018 11457 Annual General Meeting June 2022 E-mail: phoebe.loh@qiagen.com Q2 2022 results July 2022 Alexandra Koenig Share information Coordinator Investor R