Qiagen N.v. · NYSE:QGEN
Qiagen — Q4 2022 Earnings Presentation
32 slides from Qiagen's earnings presentation, Feb 8, 2023
Slide 1: Q4 and FY 2022 results
Q4 and FY 2022 results Solid performance driven by 14% CER full-year sales growth in non-COVID portfolio
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 full-year 2022: Proven commitment to execution
Q4 and full-year 2022: Proven commitment to execution Net sales (CER) Q4: $531 m vs. ≥ $520 m outlook In $ millions 2022 2021 % (At actual rates) change +15% non-COVID products FY: $2.26 bn vs. ~$2.25 bn outlook(1) Net sales -14% Q4 $498 $582 +14% non-COVID products (-9% CER) -5% Full-Year $2,142 $2
Slide 4: FY 2022: Advancing our Five Pillars of Growth
FY 2022: Advancing our Five Pillars of Growth 2022 Achievements CER sales goal Sample technologies • QIAwave consumables – new environmentally friendly portfolio • EZ2 Connect upgraded instrument launched >$750 m • QIAxcel capillary electrophoresis launched QuantiFERON • Milestone: >100 million pati
Slide 5: FY 2022: Strong performance driven by focus and execution
FY 2022: Strong performance driven by focus and execution High performing Advanced Sample to Strong operating Initiating FY 2023 non-COVID business Insight portfolio cash flow outlook +14% CER growth in Healthy growth in installed $715 m (+12%) in Sales: ≥ $2.05 billion CER non-COVID product groups
Slide 6: Q4 2022: +15% CER growth in non-COVID product groups
Q4 2022: +15% CER growth in non-COVID product groups Non-COVID / COVID split By product group (In $ millions at actual rates) (In $ millions at actual rates) Strong 2021 COVID sales in Sample -14% -14% technologies and (-9% CER) (-9% CER) PCR/NA amplification $582 $582 $498 $498 Non-COVID 218 Sample
Slide 7: FY 2022: +14% CER growth in non-COVID product groups
FY 2022: +14% CER growth in non-COVID product groups Non-COVID / COVID split By product group (In $ millions at actual rates) (In $ millions at actual rates) 2022 headwinds vs. 2021 -5% -5% COVID sales in Sample (+0% CER) (+0% CER) technologies and PCR/NA amplification $2,252 $2,252 $2,142 $2,142 85
Slide 8: FY 2022: Healthy global trends in non-COVID sales
FY 2022: Healthy global trends in non-COVID sales Americas 47% of total sales • Strong non-COVID growth particularly in the U.S. Europe / Middle East / Africa 34% of total sales Americas EMEA Asia-Pacific / Japan • Germany, France, Turkey, Netherlands and UK deliver $998 m $733 m $410 m solid CER no
Slide 9: FY 2022: Leveraging strong cash flow to build sustainable growth
FY 2022: Leveraging strong cash flow to build sustainable growth Operating cash flow Free cash flow (In $ millions) (In $ millions) Targeted investments into five pillars + 12% + 30% High level of R&D investments into menu expansion for QIAstat-Dx, NeuMoDx and QIAcuity $715 $586 586 $639 Proactively
Slide 10: Human ID / Forensics: Driving leadership in NGS workflows
Human ID / Forensics: Driving leadership in NGS workflows Proven leader of forensic NGS and genealogy Private U.S. business acquired in January 2023 • Leveraging an existing distribution partnership started in 2021 • Adds NGS workflow used to help resolve criminal and missing-persons cases • Fastest
Slide 11: Outlook: Q1 and FY 2023
Outlook: Q1 and FY 2023 Q1 2023 outlook FY 2023 outlook Net sales > $490 million CER > $2.05 billion CER Anticipated currency impact Adverse FX impact of ~ -2 p.p. +/- 0 p.p. Double-digit CER growth in non-COVID product groups Adjusted EPS ≥ $0.47 CER ≥ $2.10 CER Anticipated currency impact Adverse
Slide 12: Leveraging a strong core portfolio to drive Five Pillars of Growth
Leveraging a strong core portfolio to drive Five Pillars of Growth Expanding on solid leadership Early commercialization phases with strong growth potential Sample QuantiFERON QIAstat-Dx NeuMoDx QIAcuity Five technologies Leading immune response monitoring Syndromic testing Differentiated Novel nano
Slide 13: Summary
Summary Delivering on our commitments Exceeded Q4 and FY 2022 outlook driven by double-digit non-COVID sales growth Initiating our 2023 outlook Continuing trend of full-year double-digit CER sales growth in non-COVID product groups Strong cash flow supports disciplined capital deployment Increasing
Slide 14: Appendix
Appendix
Slide 15: Q1 and FY 2023: Outlook and assumptions
Q1 and FY 2023: Outlook and assumptions (As of February 7, 2023) Q1 2023 outlook FY 2023 outlook Net sales > $490 million CER > $2.05 billion CER Anticipated currency impact(1) Adverse impact of ~ -2 p.p. +/- 0 p.p. Adjusted EPS(2) > $0.47 CER > $2.10 CER Anticipated currency impact(1) Adverse impac
Slide 16: Sample Technologies: Continuing to build on strong leadership
Sample Technologies: Continuing to build on strong leadership Why we win Ongoing automation upgrade program Comprehensive portfolio >300 consumables kits and range of automation systems QIAcube Connect Upgrade launched 2021 >14,000 cumulative placements Any sample type Instruments for low Any analyt
Slide 17: QuantiFERON: Expanding leadership of the gold-standard TB test
QuantiFERON: Expanding leadership of the gold-standard TB test Over 100 million patients Increasing volumes for latent TB testing tested with QuantiFERON Why we win • Healthcare worker screening Leading portfolio for detection of latent TB • Back-to-school testing Latent TB testing market • Senior l
Slide 18: QIAstat-Dx: Capturing share amid syndromic testing demand growth
QIAstat-Dx: Capturing share amid syndromic testing demand growth Why we win QIAstat-Dx test menu CE-IVD FDA Unrivaled ease-of-use More than a “yes/no” answer for deeper clinical insights Gastrointestinal Respiratory SARS CoV-2 Respiratory 4plex 1 2 3 4 5 Transfer Press Run Scan Insert View results s
Slide 19: NeuMoDx: Driving new generation of integrated clinical PCR testing
NeuMoDx: Driving new generation of integrated clinical PCR testing Why we win NeuMoDx test menu CE-IVD U.S. Offering the ease of clinical chemistry for molecular testing HBV 2025 Blood-borne HCV 2025 viruses HIV 2025 Easier Faster More versatile Simple three-step First results in ~1 hour Laboratory-
Slide 20: QIAcuity: Enabling wide access to valuable digital PCR insights
QIAcuity: Enabling wide access to valuable digital PCR insights Why we win Integrated instrument offering sample in, result out ease >1,300 cumulative placements (1) Scalable Easier Faster QIAcuity One QIAcuity Four QIAcuity Eight Greater flexibility Fully automated Over twice as fast workflow time-
Slide 21: Q4 2022: Consolidated Statements of Income (unaudited)
Q4 2022: Consolidated Statements of Income (unaudited) Three months ended Three months ended (In $ thousands, except share data) December 31, 2022 December 31, 2021 Net sales 497,984 582,398 Cost of sales: Cost of sales 165,462 193,143 Acquisition-related intangible amortization 14,998 15,431 Total
Slide 22: 2022: Consolidated Statements of Income (unaudited)
2022: Consolidated Statements of Income (unaudited) Twelve months ended Twelve months ended (In $ thousands, except share data) December 31, 2022 December 31, 2021 Net sales 2,141,518 2,251,657 Cost of sales: Cost of sales 696,472 733,719 Acquisition-related intangible amortization 60,483 67,118 Tot
Slide 23: 2022: Quarterly sales by product group
2022: Quarterly sales by product group (In $ millions at actual rates / Q1 2022 Q2 2022 Q3 2022 Q4 2022 FY 2022 change in actual, CER rates) Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sample technologies 265 17% 22% 178 -12% -7% 183 -10% -2% 171 -22% -16% 797 -6% -1%
Slide 24: 2022: Sales by non-COVID and COVID-19 product groups
2022: Sales by non-COVID and COVID-19 product groups (In $ millions at actual rates / Q1 2022 Q2 2022 Q3 2022 Q4 2022 FY 2022 change in actual, CER rates) Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Non-COVID product groups 400 10% 14% 423 4% 10% 417 11% 18% 432 8% 15%
Slide 25: 2022: Quarterly sales by product type, customer class and region
2022: Quarterly sales by product type, customer class and region (In $ millions at actual rates / Q1 2022 Q2 2022 Q3 2022 Q4 2022 FY 2022 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 561 13% 17% 453 -9% -
Slide 26: Q4 and FY 2022: Reconciliation adjusted results (unaudited)
Q4 and FY 2022: Reconciliation adjusted results (unaudited) (In $ millions, except EPS) Net Gross Operating Pretax Income Tax Net Diluted sales profit income income tax rate income EPS Fourth quarter 2022 Reported results 498.0 317.5 104.6 105.8 (17.0) 16% 88.8 0.39 Adjustments Business integration,
Slide 27: Q4 and FY 2022: Footnotes for reconciliation adjusted results
Q4 and FY 2022: Footnotes for reconciliation adjusted results (unaudited) a) Results for 2022 include costs for acquisition projects, including the acquisition of Verogen completed on January 4, 2023, and the acquisition of BLIRT S.A. in Q2 2022. It also includes the ongoing integration activities f
Slide 28: 2022: Quarterly income statement summary
2022: Quarterly income statement summary (In $ millions, unless indicated) (Diluted EPS in $ per share) Q1 2022 Q2 2022 Q3 2022 Q4 2022 FY 2022 Net sales 628.4 515.5 499.6 498.0 2,141.5 Net sales (CER) 654.1 543.8 533.5 531.0 2,262.3 Gross profit 415.0 331.0 321.1 317.5 1,384.6 Gross profit margin 6
Slide 29: Consolidated Balance Sheets
Consolidated Balance Sheets December 31, December 31, December 31, December 31, (In $ thousands, except par value) 2022 2021 (In $ thousands, except par value) 2022 2021 Assets (unaudited) Liabilities and Equity (unaudited) Cash and cash equivalents 730,669 880,516 Current portion of long-term debt
Slide 30: Consolidated Statements of Cash Flows (unaudited)
Consolidated Statements of Cash Flows (unaudited) Twelve months ended December 31, December 31, Twelve months ended December 31, December 31, (In $ thousands) 2022 2021 (In $ thousands) 2022 2021 Cash flows from operating activities: Cash flows from financing activities: Net income 423,211 512,599 P
Slide 31: Q4 and FY 2022: Currency impact
Q4 and FY 2022: Currency impact Net sales Net sales Currency exposure Change (In $ millions / Actual) (CER) (As % of CER sales) (In $ millions) Q4 2022 0 U.S. dollar 252.7 252.7 48% 0.0 Euro 109.0 122.1 23% 13.1 British pound 14.6 17.3 3% 2.7 Japanese yen 13.5 16.6 3% 3.1 Other currencies 108.2 122.
Slide 32: Your contacts
Your contacts Phoebe Loh Senior Director Calendar Global Investor Relations Q1 2023 results May 2023 Phone: +49 2103 29 11457 Mobile: +49 152 018 11457 Annual General Meeting June 2023 E-mail: phoebe.loh@qiagen.com Q2 2023 results August 2023 Alexandra Koenig Share information Coordinator Investor R