Slide 1: Q4 and FY 2023 results
Dongmin Lee, Ph.D. International Parasite Resource Biobank Cheongju, South Korea Q4 and FY 2023 results Strong performance achieving outlook for net sales and adjusted EPS February 6, 2024
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 2023: Strong performance driven by non-COVID growth
Q4 and FY 2023: Strong performance driven by non-COVID growth Delivering top-tier growth in a challenging environment 2023 Q4: $503 million CER(1) • +8% CER growth in non-COVID sales FY 2023 vs outlook of ≥ $500 m CER net sales FY: $1.97 billion CER(1) Executing on our Pillars of Growth vs outlook o
Slide 4: Q4 2023: +8% CER growth from non-COVID product groups
Q4 2023: +8% CER growth from non-COVID product groups Non-COVID / COVID split By product group (In $ millions at actual rates) (In $ millions at actual rates) +2% +2% (+1% CER) (+1% CER) $498 $509 $498 $509 Sample 171 164 technologies -5% CER Non-COVID product groups 432 472 +8% CER Diagnostic 170 1
Slide 5: FY 2023: +8% CER growth from non-COVID product groups
FY 2023: +8% CER growth from non-COVID product groups Non-COVID / COVID split By product group (In $ millions at actual rates) (In $ millions at actual rates) -8% -8% (-8% CER) (-8% CER) $2,142 $2,142 $1,965 $1,965 797 Sample 663 technologies -16% CER Non-COVID 1,672 product groups 1,805 +8% CER 661
Slide 6: FY 2023: Solid non-COVID growth trends in Americas and EMEA
FY 2023: Solid non-COVID growth trends in Americas and EMEA Americas • U.S. led by strong double-digit CER growth in QuantiFERON EMEA • Double-digit CER non-COVID $625 million sales trends in U.S., Brazil and Mexico Americas +10% CER non-COVID $1.02 billion Europe / Middle East / Africa +10% CER non
Slide 7: FY 2023: Maintaining strong profitability amid COVID headwinds
FY 2023: Maintaining strong profitability amid COVID headwinds Adj. operating income Adj. diluted EPS Operating cash flow (In $ millions) (In $ per share) (In $ millions) $2.38 $656 $2.07 $715 ($2.09 CER) $529 $459 30.6% 26.9% 2022 2023 2022 2023 2022 2023 Adjusted operating income margin Refer to a
Slide 8: 2023: Advancing our portfolio
2023: Advancing our portfolio 2023 goal (CER sales) Core portfolio launches Sample technologies • Consumables: Expansion of QIAwave (environmentally friendly kits) QIAGEN Digital Insights and microbiome workflows >$685 m • QIAGEN Clinical Insight (QCI) Interpret • Instruments: EZ2 Connect MDx and Ti
Slide 9: Accelerating QIAGEN Digital Insights with targeted investments
Accelerating QIAGEN Digital Insights with targeted investments Offering best-in-class insights for research and clinical customers Research Clinicians Data QIAGEN differentiation scientists scientists No. 1 portfolio of trusted platform- agnostic bioinformatics solutions Analysis and Interpretation
Slide 10: Welcoming two new Supervisory Board members
Welcoming two new Supervisory Board members New members will stand for election at the Annual General Meeting in June 2024 Eva van Pelt Bert van Meurs Joining in March 2024 Joining in April 2024 • Most recently Co-CEO and member of the management board of • Currently a member of the Executive Commit
Slide 11: Outlook: Q1 and FY 2024
Outlook: Q1 and FY 2024 Q1 2024 outlook FY 2024 outlook Net sales >$455 million CER >$2.0 billion CER Anticipated currency impact Neutral FX impact Neutral FX impact Adjusted diluted EPS >$0.44 CER >$2.10 CER Anticipated currency impact Adverse impact of ~ -$0.01 Adverse impact of ~ -$0.01 Adjusted
Slide 12: 2024: Leveraging a strong core portfolio to drive Pillars of Growth
2024: Leveraging a strong core portfolio to drive Pillars of Growth Expanding on solid leadership Early commercialization phases with strong growth potential Sample QuantiFERON QIAstat-Dx NeuMoDx QIAcuity Pillars technologies Leading immune response monitoring Syndromic testing Differentiated Novel
Slide 13: 2024: Outlook perspectives
2024: Outlook perspectives (As of February 6, 2024) Net sales Adj. operating income margin Adj. EPS ≥+3% CER non-COVID growth Adj. gross margin Adj. operating income margin gains ~-1 ppt COVID-19 headwinds from 2023 R&D Synthetic share repurchase in January 2024 SG&A Lower interest income ~ -$0.10 C
Slide 14: Summary
Summary Strong 2023 performance in a challenging macro-environment E Achieved FY 2023 outlook for sales and exceeded outlook for adj. diluted EPS Top-tier growth driven by non-COVID sales Driven by +8% CER growth in non-COVID product groups Managing an attractive profitability profile with disciplin
Slide 15: Appendix
Appendix
Slide 16: Supervisory Board and Executive Committee
Supervisory Board and Executive Committee Supervisory Board Executive Committee Chair Chief Executive Officer Chief Financial Officer Lawrence A. Rosen Metin Colpan Thierry Bernard Roland Sackers Joined 2013 Co-founder of QIAGEN Joined 2015 Joined 1999 Molecular Diagnostics Life Sciences Toralf Haag
Slide 17: Q1 and FY 2024: Outlook and assumptions
Q1 and FY 2024: Outlook and assumptions (As of February 6, 2024) Q1 2024 outlook FY 2024 outlook Net sales >$455 million CER >$2 billion CER Anticipated currency impact(1) Neutral FX impact Neutral FX impact Adjusted diluted EPS(2) >$0.44 CER >$2.10 CER Anticipated currency impact(1) Adverse impact
Slide 18: 2024: Key assumptions
2024: Key assumptions As of February 6, 2024 2024 outlook Business integration, acquisition-related and restructuring items ~$13 million Capital expenditures (PP&E) ~7% of sales Capital expenditures (Intangibles, excluding acquired intellectual property) ~1% of sales Depreciation and amortization (E
Slide 19: Q4 2023: Consolidated Statements of Income (unaudited)
Q4 2023: Consolidated Statements of Income (unaudited) Three months ended Three months ended (In $ thousands, except share data) December 31, 2023 December 31, 2022 Net sales 509,162 497,984 Cost of sales: Cost of sales 177,018 165,462 Acquisition-related intangible amortization 16,044 14,998 Total
Slide 20: 2023: Consolidated Statements of Income (unaudited)
2023: Consolidated Statements of Income (unaudited) Twelve months ended Twelve months ended (In $ thousands, except share data) December 31, 2023 December 31, 2022 Net sales 1,965,311 2,141,518 Cost of sales: Cost of sales 667,425 696,472 Acquisition-related intangible amortization 64,198 60,483 Tot
Slide 21: 2023: Quarterly sales by product group
2023: Quarterly sales by product group (In $ millions at actual rates / Q1 2023 Q2 2023 Q3 2023 Q4 2023 FY 2023 change in actual, CER rates) Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sample technologies 173 -35% 32% 165 -7% -7% 160 -12% -13% 164 -4% -5% 663 -17% -16%
Slide 22: 2023: Sales by non-COVID and COVID-19 product groups
2023: Sales by non-COVID and COVID-19 product groups (In $ millions at actual rates / Q1 2023 Q2 2023 Q3 2023 Q4 2023 FY 2023 change in actual, CER rates) Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Non-COVID product groups 434 8% 12% 457 8% 9% 442 6% 5% 472 9% 8% 1,80
Slide 23: 2023: Quarterly sales by product type, customer class and region
2023: Quarterly sales by product type, customer class and region (In $ millions at actual rates / Q1 2023 Q2 2023 Q3 2023 Q4 2023 FY 2023 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 431 -23% -21% 434 -4%
Slide 24: Q4 and FY 2023: Reconciliation to adjusted results (unaudited)
Q4 and FY 2023: Reconciliation to adjusted results (unaudited) (In $ millions, except EPS) Net Gross Operating Pre-tax Income Tax Net Diluted sales profit income income tax rate income EPS* Fourth quarter 2023 Reported results 509.2 316.1 110.6 118.9 (21.2) 18% 97.7 0.42 Adjustments Business integra
Slide 25: Footnotes for reconciliation to adjusted results (unaudited)
Q4 and FY 2023: Footnotes for reconciliation to adjusted results (unaudited) a) Results for 2023 include costs for acquisition projects, including the acquisition of Verogen Inc. completed on January 4, 2023. Results for 2022 include acquisition projects including continued integration activities at
Slide 26: 2023: Quarterly income statement summary
2023: Quarterly income statement summary (In $ millions, unless indicated) (Diluted EPS in $ per share) Q1 2023 Q2 2023 Q3 2023 Q4 2023 FY 2023 Net sales 485.4 494.9 475.9 509.2 1,965.3 Net sales (CER) 501.6 497.4 469.9 502.9 1,971.8 Gross profit 307.5 312.1 298.0 316.1 1,233.7 Gross profit margin 6
Slide 27: Consolidated Balance Sheets
Consolidated Balance Sheets December 31, December 31, December 31, December 31, (In $ thousands, except par value) 2023 2022 (In $ thousands, except par value) 2023 2022 Assets (unaudited) Liabilities and Equity (unaudited) Cash and cash equivalents 668,084 730,669 Current portion of long-term debt
Slide 28: Q4 and FY 2023: Currency impact
Q4 and FY 2023: Currency impact Net sales Net sales Currency exposure Change (In $ millions / Actual) (CER) (As % of CER sales) (In $ millions) Q4 2023 0 U.S. dollar 264.0 264.0 52% 0.0 Euro 113.1 107.6 21% -5.5 British pound 18.7 17.6 3% -1.1 Japanese yen 11.9 12.5 2% 0.6 Other currencies 101.5 101
Slide 29: 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) 2023 2022 (In $ thousands) 2023 2022 Cash flows from operating activities: Cash flows from financing activities: Net income 341,303 423,211 P
Slide 30: Your contacts
Your contacts Phoebe Loh Senior Director Calendar Global Investor Relations Q1 2024 results April 2024 Phone: +49 2103 29 11457 Mobile: +49 152 018 11457 Analyst and Investor Day June 2024 E-mail: phoebe.loh@qiagen.com (New York) Annual General Meeting June 2024 Alexandra Koenig Share information Co