Qiagen N.v. · NYSE:QGEN
Qiagen — Shareholder Meeting (June 2021)
56 slides from Qiagen's shareholder meeting presentation, Jun 29, 2021
Slide 1: 2021 Annual General Meeting
2021 Annual General Meeting Virtual meeting from Venlo, Netherlands June 29, 2021
Slide 2: Opening
1 Opening Lawrence A. Rosen Chair of the Supervisory Board Sample to Insight QIAGEN | Annual General Meeting | June 29, 2021 2
Slide 3: Managing Board Report for the year ended December 31, 2020
2 Managing Board Report for the year ended December 31, 2020 (“Calendar year 2020”) Mr. Thierry Bernard Chief Executive Officer Mr. Roland Sackers Chief Financial Officer Sample to Insight QIAGEN | Annual General Meeting | June 29, 2021 3
Slide 4: Managing Board Report - Strategy
2021 Annual General Meeting Managing Board Report - Strategy Thierry Bernard Chief Executive Officer
Slide 5: Disclaimer
Disclaimer Safe Harbor Statement: This presentation contains both historical and forward-looking competitors' products; market acceptance of QIAGEN's new products and the integration of statements. All statements other than statements of historical fact are, or may be, deemed to be acquired technolo
Slide 6: QIAGEN at a glance
QIAGEN at a glance 2020 sales Global sales reach $1.87 bn 44% Americas 48% 52% 37% EMEA 19% Asia-Pacific / Japan Molecular Life Diagnostics Sciences >5,600 86% 14% employees Consumables Instruments Innovative cutting-edge portfolios worldwide and related revenues • Trusted brand known for quality an
Slide 7: A stronger company set for solid post-pandemic growth
2020 was a year of stepping up to change • Answering massive pandemic demand • Significant manufacturing capacity ramp-up • Executing continuous product launches Five pillars of growth to drive growth beyond 2020 • COVID-19 has accelerated our growth opportunities A stronger company set for • Invest
Slide 8: QIAGEN teams worldwide have responded to the COVID-19 pandemic
QIAGEN teams worldwide have responded to the COVID-19 pandemic Sample to Insight QIAGEN | Annual General Meeting | June 29, 2021 8
Slide 9: 2020: Key strategic achievements amid a year of unprecedented change
2020: Key strategic achievements amid a year of unprecedented change Exceeded Strategic alignment on five pillars to drive mid-term growth guidance every quarter Significantly scaled up global capacity in COVID-19 products of 2020 >10 new solutions for COVID, all with additional non-COVID applicatio
Slide 10: Unwavering focus on five pillars of growth
Unwavering focus on five pillars of growth Five pillars of growth Sample QIAcuity QIAstat-Dx NeuMoDx QuantiFERON technologies Five pillars of growth supported by core business Core business Genomics / NGS Precision PCR / Nucleic acid Human ID / QIAGEN OEM Medicine amplification Forensics Digital Ins
Slide 11: Five pillars targeting >$6 billion opportunities of our $11 billion total addressable market
Five pillars targeting >$6 billion opportunities of our $11 billion total addressable market Sample technologies QIAcuity QIAstat-Dx NeuMoDx QuantiFERON Strengthen excellence in Enter digital PCR Accelerate Fully integrate Extend leadership in Sample technologies market with QIAcuity QIAstat-Dx adop
Slide 12: 2021: Strategy update - investing in growth pillars to drive post-pandemic growth
2021: Strategy update - investing in growth pillars to drive post-pandemic growth Current status 2021 goals Q1 2021 progress Sample Broadest portfolio with leading • New automation workflows Launched QIAcube Connect MDx instrument technologies brand reputation and specialty applications Launched
Slide 13: Q1 2021: Summary
Q1 2021: Summary 1 Exceeded Q1 outlook: +48% CER sales growth vs. +45% CER Net sales Adjusted EPS(1) (In $ millions, at actual rates) (In $ per share, at actual rates) outlook and $0.65 CER adj. EPS vs. $0.60-0.62 outlook +48% CER +91% CER 2 Executing on our plan: +16% CER growth on faster-than- $0.
Slide 14: Fostering a culture of empowerment driven by a focus on achieving targets
Fostering a culture of empowerment driven by a focus on achieving targets Decentralizing decision-making Setting ambitious, but realistic, targets Creating a culture of “doers” • Giving teams at all levels greater influence • Appropriately balance opportunity and risk • Foster a stronger culture of
Slide 15: 2020: Dedicated to sustainability and diversity in our operations and teams
2020: Dedicated to sustainability and diversity in our operations and teams Environmental Social Governance 1.5-degree Celsius climate target Community Service Committee Recognizing importance of clear rules • Reduced scope 1 and 2 CO2 organizing volunteers and funds on corporate governance emission
Slide 16: Integrating sustainability throughout the value chain
Integrating sustainability throughout the value chain Examples of sustainability in product design • Avoiding materials that cause a lot of damage when they are mined, cannot be recycled or do not decompose • Improving repairability, longevity, and allowing for reuse • Designing products to use less
Slide 17: Remaining committed to diversity and inclusion
Remaining committed to diversity and inclusion Diverse teams strengthen our organization through the variety of ideas, perspectives and approaches Executive Council on Equal Opportunity (ECEO) • Created to drive change within QIAGEN around diversity and inclusion Diversity and Inclusion Ambassador P
Slide 18: New Supervisory Board members complement and enhance Board experience
New Supervisory Board members complement and enhance Board experience Thomas Ebeling Dr. Toralf Haag • Appointed in February 2021 • Appointed in January 2021 • Former CEO of Germany’s ProSiebenSat.1 Media SE • CEO and Chairman of the Corporate Board of Management of Voith GmbH & Co. KGaA • Prior rol
Slide 19: New Scientific Advisory Board to evaluate market and technology developments
New Scientific Advisory Board to evaluate market and technology developments Chair Members Dr. Peter Kaspar Dr. Neville Sanjana Leadership positions at Roche Core Faculty Member at the New Diagnostics and bioMérieux during York Genome Center and career in diagnostics, Life Sciences and Assistant Pro
Slide 20: Summary
Summary 1 2020: Delivering on our commitments under exceptional conditions 2 Relentless focus on five pillars of growth to capture most attractive opportunities 3 Addressing evolving pandemic challenges while delivering strong growth in non-COVID products 4 2021 and beyond: Positioned for sustainabl
Slide 21: Managing Board Report - Finance
2021 Annual General Meeting Managing Board Report - Finance Roland Sackers Chief Financial Officer
Slide 22: Disclaimer
Disclaimer Safe Harbor Statement: This presentation contains both historical and forward-looking competitors' products; market acceptance of QIAGEN's new products and the integration of statements. All statements other than statements of historical fact are, or may be, deemed to be acquired technolo
Slide 23: 2020: Overview (U.S. GAAP)
2020: Overview (U.S. GAAP) Net sales Adjusted EPS(1) 1 Exceeded full-year 2020 sales and adjusted diluted EPS outlook (In $ millions, at actual rates) (In $ per share) • $1.87 billion net sales (+23% actual, +23% CER vs. ~+22% CER outlook) +23% CER +52% CER • $2.15 adjusted diluted EPS ($2.17 CER vs
Slide 24: 2020: Financial review (U.S. GAAP)
2020: Financial review (U.S. GAAP) (In $ millions, unless indicated) (Diluted EPS in $ per share) 2020 2019 Change Net sales(1) 1,870.3 1,526.4 23% / 23% CER Operating income (loss) 386.4 (26.1) NM Adjusted operating income 626.8 421.8 49% Net income (loss) 359.2 (41.5) NM Adjusted net income 502.8
Slide 25: Sales reporting in new product groups
Sales reporting in new product groups Five pillars of growth Sample QIAcuity QIAstat-Dx NeuMoDx QuantiFERON QIAGEN product groups technologies(1) digital PCR(3) Consumables and instruments used in sample collection, stabilization, storage, Sample technologies(1) purification and quality control incl
Slide 26: 2020: Sales by product groups
2020: Sales by product groups Sales % % CER % (in $ m) change change of sales Sample technologies $804 47% 47% 43% Diagnostic solutions(1) $461 -1% -1% 25% Of which QuantiFERON $190 -21% -21% 10% Of which QIAstat-Dx $54 271% 269% 3% Of which NeuMoDx $54 NM NM 3% Of which Other $163 -22% -21% 9% PCR
Slide 27: 2020: Sales by non-COVID-19 and COVID product groups
2020: Sales by non-COVID-19 and COVID product groups Sales % % CER % (in $ m) change change of sales Non-COVID-19 products $1,252 -9% -9% 67% COVID-19 related products $618 331% 332% 33% Total $1,870 23% 23% 100% Sequentially stronger growth throughout 2020 for both non-COVID and COVID products Sale
Slide 28: 2020: Sales by product type, customer class and region
2020: Sales by product type, customer class and region Sales % % CER % Product type (in $ m) change change of sales Consumables and related revenues $1,615 19% 20% 86% Instruments $255 48% 48% 14% Customer class Molecular Diagnostics $904 23% 24% 48% Life Sciences $966 22% 22% 52% Geographic region
Slide 29: 2020: Reconciliation adjusted results (U.S. GAAP)
2020: Reconciliation adjusted results (U.S. GAAP) Net Gross Operating Pretax Income Tax Net Diluted In $ millions (Except EPS) sales profit income income tax rate income EPS(1) Full-year 2020 Reported results 1,870.3 1,232.7 386.4 439.5 (80.3) 18% 359.2 1.53 Adjustments Business integration, acquisi
Slide 30: 2020: Review of U.S. GAAP and IFRS results
2020: Review of U.S. GAAP and IFRS results Consolidated Income Statements for the year ended December 31, 2020 In $ millions U.S. GAAP IFRS Difference (Except per share data) 2020 2020 (U.S. GAAP vs. IFRS) Net sales 1,870.3 1,870.3 Gross profit 1,232.7 1227.8 4.9 Income from operations 386.4 383.9 2
Slide 31: 2020: Debt composition and maturity profile
2020: Debt composition and maturity profile Structure as of December 31, 2020 Maturities of debt instruments $2.1 billion $715 billion (In $ millions) 700 644 Cash and 27 short-term 600 518 Convertible investments 117 Bonds 500 481 18 2021 $1.370 billion 400 2023 400 2024 300 2027 300 39 500 500 Net
Slide 32: 2020: Employees as of December 31, 2020
2020: Employees as of December 31, 2020 Europe / Asia Pacific / Total Total Americas Middle East / Africa Japan / ROW Q4 2020 Q4 2019 Change Production 392 1,030 144 1,566 1,164 35% R&D 210 642 50 902 953 -5% Sales 575 825 792 2,192 2,070 6% Marketing 71 177 82 330 309 7% Administration 80 385 155 6
Slide 33: 2020: Investor Relations
2020: Investor Relations IR Activities Reduced activities March-August 2020 due to pending Thermo Fisher acquisition • Virtual Investor Deep Dive: >300 participants • Institutional conferences: ~15 events • Individual meetings: ~120 meetings IR Industry awards Analyst ratings Category: EU medtech sm
Slide 34: 2020-2021 YTD: QIAGEN share price development – Frankfurt Stock Exchange (euros)
2020-2021 YTD: QIAGEN share price development – Frankfurt Stock Exchange (euros) June 25, 2021: EUR 40.47 60% 50% 40% 34% 30% 20% 18% 10% 0% (10%) (20%) QIAGEN (Frankfurt) TecDax (30%) Jan Apr Jul Oct Jan Apr Jun January 1, 2020 – June 25, 2021 Sample to Insight QIAGEN | Annual General Meeting | Jun
Slide 35: 2020-2021 YTD: QIAGEN share price development – NYSE (U.S. dollars)
2020-2021 YTD: QIAGEN share price development – NYSE (U.S. dollars) June 25, 2021: $48.55 70% 60% 50% 44% 40% 35% 30% 20% 10% 0% (10%) (20%) QIAGEN (NYSE) NASDAQ Biotech Index (30%) Jan Apr Jul Oct Jan Apr Jun January 1, 2020 – June 25, 2021 Sample to Insight QIAGEN | Annual General Meeting | June 2
Slide 36: A big milestone: 25 years as a publicly-traded company
A big milestone: 25 years as a publicly-traded company IPO launched on NASDAQ on June 28, 1996 Sample to Insight QIAGEN | Annual General Meeting | June 29, 2021 36
Slide 37: Summary
Summary 1 2020: Exceeded outlook for net sales and adjusted EPS 2 Enhanced transparency on sales reporting and five pillars of growth 3 Using strong cash flow trends to reinvest in business and increase returns 4 Ongoing strong commitment to increasing returns and disciplined capital deployment Samp
Slide 38: Supervisory Board Report on the Company’s Annual Accounts
3 Supervisory Board Report on the Company’s Annual Accounts (the “Annual Accounts”) for Calendar Year 2020 Sample to Insight QIAGEN | Annual General Meeting | June 29, 2021 38
Slide 39: Adoption of the Annual Accounts for Calendar Year 2020
4 Adoption of the Annual Accounts for Calendar Year 2020 (voting item) Sample to Insight QIAGEN | Annual General Meeting | June 29, 2021 39
Slide 40: Advisory Vote on the Remuneration Report 2020
5 Advisory Vote on the Remuneration Report 2020 (advisory voting item) Sample to Insight QIAGEN | Annual General Meeting | June 29, 2021 40
Slide 41: Reservation and dividend policy
6 Reservation and dividend policy Sample to Insight QIAGEN | Annual General Meeting | June 29, 2021 41
Slide 42: Discharge from liability of the Managing Directors
7 Discharge from liability of the Managing Directors for the performance of their duties during Calendar Year 2020 (voting item) Sample to Insight QIAGEN | Annual General Meeting | June 29, 2021 42
Slide 43: Discharge from liability of the Supervisory Directors
8 Discharge from liability of the Supervisory Directors for the performance of their duties during Calendar Year 2020 (voting item) Sample to Insight QIAGEN | Annual General Meeting | June 29, 2021 43
Slide 44: Reappointment of seven Supervisory Directors
9 Reappointment of the following seven Supervisory Directors of the Company for a term ending at the close of the Annual General Meeting in 2022 (voting items): a. Dr. Metin Colpan b. Mr. Thomas Ebeling c. Dr. Toralf Haag d. Prof. Dr. Ross L. Levine e. Prof. Dr. Elaine Mardis f. Mr. Lawrence A. Rose
Slide 45: Supervisory Board: Members
Supervisory Board: Members Thank you for your significant Mr. Lawrence A. Rosen contribution to QIAGEN Chair Dr. Metin Colpan Prof. Dr. Ross Levine Mr. Stéphane Bancel Founding CEO of Moderna, Inc. Mr. Thomas Ebeling Prof. Dr. Elaine Mardis • Joined the Supervisory Board in 2013 • Member of the Audi
Slide 46: Reappointment of two Managing Directors
10 Reappointment of the following two Managing Directors of the Company for a term ending at the close of the Annual General Meeting in 2022 (voting items): a. Mr. Roland Sackers b. Mr. Thierry Bernard Sample to Insight QIAGEN | Annual General Meeting | June 29, 2021 46
Slide 47: Managing Board: Members
Managing Board: Members Thierry Bernard Roland Sackers Chief Executive Officer Chief Financial Officer Sample to Insight QIAGEN | Annual General Meeting | June 29, 2021 47
Slide 48: Adoption of the Remuneration Policy with respect to the Managing Board
11 Adoption of the Remuneration Policy with respect to the Managing Board (voting item) Sample to Insight QIAGEN | Annual General Meeting | June 29, 2021 48
Slide 49: Remuneration of the Supervisory Board
12 Remuneration of the Supervisory Board: (voting items) a. Partial amendment of the Remuneration Policy with respect to the Supervisory Board b. Determination of the remuneration of the members of the Supervisory Board Sample to Insight QIAGEN | Annual General Meeting | June 29, 2021 49
Slide 50: Reappointment of KPMG Accountants N.V. as auditors
13 Reappointment of KPMG Accountants N.V. as auditors of the Company for the calendar year ending December 31, 2021 (voting item) Sample to Insight QIAGEN | Annual General Meeting | June 29, 2021 50
Slide 51: Authorization of the Supervisory Board until December 29, 2022
14 Authorization of the Supervisory Board until December 29, 2022 to: a. Issue a number of ordinary shares and financing preference shares and grant rights to subscribe for such shares, the aggregate par value of which shall be equal to the aggregate par value of fifty percent (50%) of shares issued
Slide 52: Authorization of the Managing Board to acquire shares in own share capital
15 Authorization of the Managing Board, until December 29, 2022, to acquire shares in the Company’s own share capital (voting item) Sample to Insight QIAGEN | Annual General Meeting | June 29, 2021 52
Slide 53: Amendment of the Company's articles of association
16 Amendment of the Company's articles of association in connection with changes to Dutch law (voting item) Sample to Insight QIAGEN | Annual General Meeting | June 29, 2021 53
Slide 54: Questions
17 Questions Sample to Insight QIAGEN | Annual General Meeting | June 29, 2021 54
Slide 55: Closing
18 Closing Sample to Insight QIAGEN | Annual General Meeting | June 29, 2021 55
Slide 56: Retail Investor Day
Retail Investor Day Due to COVID restrictions, the Retail Investor Day will not take place in 2021. It is planned to resume this event in the future. Sample to Insight QIAGEN | Annual General Meeting | June 29, 2021 56