Qiagen N.v. · NYSE:QGEN
Qiagen — Morgan Stanley European Healthcare Conference (March 2024)
46 slides from Qiagen's conference presentation, March 2024
Slide 1: Making improvements in life possible
Dongmin Lee, Ph.D. International Parasite Resource Biobank Cheongju, South Korea Making improvements in life possible Investor introduction March 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. S
Slide 3: Our Vision and Mission
Our Vision Making improvements in life possible Our Mission Enabling access to valuable insights from molecular research to clinical healthcare Bichat-Claude Bernard Hospital, Paris Investor Introduction 3
Slide 4: QIAGEN at a glance
QIAGEN at a glance A global company with scale ~52% Americas $1.97 billion 2023 sales Sales (2023) ~32% EMEA ~16% Asia-Pacific / Japan Highly recurring revenues Balanced customer markets ~6,000 employees known as QIAGENers ~ 88% 12% ~ ~ 50% 50% ~ Consumables and related revenues Instruments Molecula
Slide 5: QIAGEN solutions are used across the world by researchers
QIAGEN solutions are used across the world by researchers - from young scientists to Nobel laureates - and clinical testing labs Investor Introduction 5
Slide 6: More than 3 billion samples have been processed
More than 3 billion samples have been processed using QIAGEN sample preparation kits Dr. Darren Chooneea Research Scientist, London Natural History Museum Uses QIAGEN’s PowerSoil Pro Kit to explore the evolution of microorganisms as they adapted to changing environmental conditions and identify the
Slide 7: QIAGEN's innovative instrument portfolio tackles a variety of molecular applications
QIAGEN’s innovative instrument portfolio tackles a variety of molecular applications Dr. Johanna Andersson-Assarsson University of Gothenburg Uses QIAGEN’s QIAcuity digital PCR platform to identify gene variations that could help in the development of new therapies Investor Introduction 7
Slide 8: More than 100 million patients screened with latent TB test
More than 100 million patients have been screened with QIAGEN’s latent TB test Dr. Kiyoyasu Fukushima Japan Red Cross Nagasaki Genbaku Isahaya Hospital Employs QuantiFERON TB Plus for latent tuberculosis detection to ultimately reduce Japan‘s high infection rate Investor Introduction 8
Slide 9: QIAGEN is developing companion diagnostics with over 25 pharma companies
QIAGEN is developing companion diagnostics with over 30 Pharma companies Dr. Philippe Taniere Consultant histopathologist Queen Elizabeth Hospital Birmingham Relies on QIAGEN’s standardized, regulatory-approved tests to break the cellular code of cancer and find the right treatment for each patient
Slide 10: More than 4 million samples processed with NGS kits
More than 4 million samples have been processed with QIAGEN’s NGS kits Asha Palat and Brandon Mistretta University of Houston’s Department of Biology and Biochemistry Use QIAGEN’s QIAseq FastSelect RNA Removal Kits with next-generation sequencing (NGS) to develop more effective and more humane cance
Slide 11: Every 10 seconds a crime scene sample is analyzed
Every 10 seconds a crime scene sample is analyzed with QIAGEN kits Rachel Oefelein Chief Scientific Officer at DNA Labs International Helping to bring closure to victims and their families by using QIAGEN’s forensic genetic genealogy tools to enable identification of assailants by matching genetic r
Slide 12: QIAGEN products are known for the highest quality
QIAGEN products are known for the highest quality Investing ~9-10% of sales in R&D and best-in-class manufacturing Investor Introduction 12
Slide 13: In the right place at the right time
In the right place at the right time Leveraging the continuum of research to clinical healthcare to maximize opportunities Life Sciences Molecular Diagnostics Academia Pharma Applied testing Infectious disease Immune response Oncology Addressable market ~$5 billion (1) ~$6 billion(1) • Continuous wa
Slide 14: Providing Sample to Insight solutions to uncover molecular insights
Providing Sample to Insight solutions to uncover molecular insights Sample technologies Assay technologies Discovery research Advancing understanding of life Pharma Faster and better drug R&D Clinical diagnostics Sample to Insight solutions Accurate disease diagnosis Automation systems Bioinformatic
Slide 15: Leveraging leadership from the first step in any laboratory
Leveraging leadership from the first step in any laboratory Sample preparation Detection (DNA / RNA extraction) (Technologies to unlock insights) Top 3 Differentiated solutions for modular and integrated workflows PCR No. 1 No. 1 Sample No. 2 technologies Unmatched time to result, Digital scalabilit
Slide 16: Life Sciences: Working to enable scientific advancements
Life Sciences: Working to enable scientific advancements QIAGEN value Academic research 2023 sales ~$930 million Pharma development Recognized innovator supporting scientific breakthroughs Able to translate innovations Applied testing into commercial products ~$5 billion addressable market Selected
Slide 17: Molecular Diagnostics: Helping to improve outcomes in healthcare
Molecular Diagnostics: Helping to improve outcomes in healthcare QIAGEN value Immune response 2022 sales ~$1 billion Infectious diseases Addressing testing areas with high or growing demand Strong automation portfolio Oncology with multi-year assay menu expansion underway ~$6 billion addressable mar
Slide 18: Focusing on attractive opportunities
Focusing on attractive opportunities Expanding on solid leadership Early commercialization phases with strong growth potential Sample QuantiFERON QIAstat-Dx NeuMoDx QIAcuity technologies Leading immune Syndromic testing with Differentiated microfluidic Novel microplate digital Comprehensive portfoli
Slide 19: Sample technologies: Leveraging our leading brand and expertise
Sample technologies: Leveraging our leading brand and expertise Installed base of >28,000 instruments(1) QIAGEN differentiation Industry leader known for highest quality QIAcube family EZ1 / EZ2 QIAsymphony Upgrade in development Stool Tissue Saliva Cells Bone Blood >300 consumable kits Plants Serum
Slide 20: QuantiFERON: Leading the way in modern latent TB testing
QuantiFERON: Leading the way in modern latent TB testing Converting traditional skin testing to modern IGRA blood testing QuantiFERON differentiation QuantiFERON-TB Gold Leading portfolio for latent TB detection ~70-80% market share Modern fourth-generation test Latent TB testing IGRA • >100 million
Slide 21: QIAstat-Dx: Capturing solid market share in syndromic testing
QIAstat-Dx: Capturing solid market share in syndromic testing Focus on menu expansion to accelerate solid placement rate QIAstat-Dx (Low to mid-throughput) QIAstat-Dx differentiation QIAstat-Dx test menu CE-IVD FDA Gastrointestinal Unrivaled ease-of-use Respiratory SARS CoV-2 Respiratory 4plex Menin
Slide 22: QIAcuity: Answering growing market demand with unique technology
QIAcuity: Answering growing market demand with unique technology Digital PCR market opportunity: Rapidly expanding application range QIAcuity differentiation qPCR / RT-PCR QIAcuity digital PCR Proven nanoplate technology Fast and cost-effective Conversion from qPCR, NGS Scalable systems e.g. Cell an
Slide 23: Core portfolios: Investing to accelerate QIAGEN Digital Insights
Core portfolios: Investing to accelerate QIAGEN Digital Insights Offering best-in-class insights for research and clinical customers Research Clinicians Data QIAGEN differentiation scientists scientists Nr. 1 portfolio of trusted platform- agnostic bioinformatics solutions Analysis and Interpretatio
Slide 24: We employ ~6,000 passionate QIAGENers
We employ ~6,000 passionate QIAGENers around the world from diverse backgrounds and locations Investor Introduction 24
Slide 25: Strong global presence in developed and emerging markets
Strong global presence in developed and emerging markets >30 Our global Direct sales in and regional headquarters: Venlo Netherlands Germantown Global HQ countries Maryland Americas HQ Hilden Germany EMEA HQ Shanghai China HQ Singapore >170 Shipping product to Asia-Pacific HQ countries Investor Intr
Slide 26: 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 27: 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 28: Maintaining financial flexibility with appropriate leverage
Maintaining financial flexibility with appropriate leverage Structure as of December 31, 2023 Maturities of debt instruments (In $ millions) $1.53 billion $1.06 billion Convertible Bonds Schuldschein Convertible Cash and 117 Bonds short-term 2024 investments 2027 605 617 105 117 $472 million 500 500
Slide 29: Leveraging strong balance sheet and cash flows to enhance growth
Leveraging strong balance sheet and cash flows to enhance growth Invest in internal growth Strengthening our portfolio ~$300 million return completed to shareholders Enhance value with M&A • Capital return through synthetic Ongoing disciplined approach share repurchase Disciplined capital with focus
Slide 30: Why invest: Well-diversified business spanning attractive markets
Why invest: Well-diversified business spanning attractive markets Diversified Broad Highly customer base geographic reach recurring revenues Well-balanced leadership in ~6,000 QIAGENers ensuring Growing installed base Life Sciences and access to attractive markets with generating demand for Molecula
Slide 31: 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 32: Appendix
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Slide 33: 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 34: 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 35: 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 36: 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 37: 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 38: 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 39: 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 40: Q4 and FY 2023: Reconciliation to adjusted results
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 41: Q4 and FY 2023: Footnotes for reconciliation to adjusted results
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 42: 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 43: 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 44: 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 45: 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 46: 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
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