Qiagen N.v. · NYSE:QGEN
Qiagen — Q4 2024 Earnings Presentation
29 slides from Qiagen's earnings presentation, Feb 6, 2025
Slide 1: Q4 and FY 2024 results
Q4 and FY 2024 results Exceeding outlook for net sales and adjusted EPS February 5, 2025
Slide 2: Forward looking and intended use statements
Forward looking and intended use statements Safe Harbor Statement: Certain statements in this press release may constitute forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amen
Slide 3: Q4 and FY 2024: Exceeded outlook for net sales and adjusted EPS
Q4 and FY 2024: Exceeded outlook for net sales and adjusted EPS Growth Solid sales growth exceeding outlook FY: $1.978 bn ($1.991 bn CER) • Q4: +3% CER growth and +4% CER core growth(1) Net sales • Q4: Double-digit CER growth from QIAstat-Dx, QuantiFERON and QIAcuity Q4: $521 mn ($525 mn CER) • FY:
Slide 4: Q4 2024: Sales performance and key developments
Q4 2024: Sales performance and key developments Sales by product group Key developments (In $ millions at actual rates) +4% core Sample • Solid growth for automated kits on QIAGEN instruments CER(1) technologies • Lower instrument sales due to cautious instrument spend 509 521 Sample • +14% CER grow
Slide 5: Q4 2024: Portfolio developments
Q4 2024: Portfolio developments Sample technologies: QIAcuity: QIAGEN Digital Insights: Advancing laboratory automation Transforming dPCR with multiplexing Enhancing data-driven solutions >1,000 cumulative EZ2 Connect placements Multiplexing of up to 12 targets Expanding AI-powered tools • Versatile
Slide 6: FY 2024: Sales performance and key developments
FY 2024: Sales performance and key developments Sales by product group Key achievements (In $ millions at actual rates) Sample • Launch of two microbiome and liquid biopsy sample kits +2% core technologies • ~29,900 cumulative instrument placements CER(1) 1,965 1,978 • New U.S. guidelines enable use
Slide 7: 2024: Strong year for operating profitability
2024: Strong year for operating profitability Adj. operating income margin Adj. EPS ahead of Q4 and FY 2024 outlook +2.6 ppt +1.8 ppt Adj. Q4: +12% to $159 million 30.6% FY: +7% to $567 million operating on efficiency gains and NeuMoDx 28.7% income benefits 28.0% 26.9% Non- Adj. net interest income:
Slide 8: Q4 and FY 2024: Significant improvement in cash flow generation
Q4 and FY 2024: Significant improvement in cash flow generation Cash flow(1) Debt maturity overview(2) (in $ millions) In $ millions Q4 2024 Q4 2023 Change Operating cash flow 192 151 +27% 610 Purchases of PP&E - 49 -52 -5% 110 500 Free cash flow 142 100 +43% Likely repayment in 2025(3) 500 145 In $
Slide 9: Capital allocation: Proven value-creating approach
Capital allocation: Proven value-creating approach Synthetic share Organic Profitable targeted investments repurchase investments Into growth pillars and digitization to fuel profitable business expansion Additional ~$300 mn repurchase completed in January 2025 Builds on return of ~$300 mn in Focuse
Slide 10: Outlook: Q1 and FY 2025
Outlook: Q1 and FY 2025 As of February 5, 2025 Outlook Q1 2025 FY 2025 Net sales ~+3% CER / ~+4% CER / ~+4% CER core portfolio(1) ~+5% CER core portfolio(1) Anticipated currency impact Adverse impact of ~-2 ppt Adverse impact of ~-2 ppt Adjusted diluted EPS >$0.50 CER >$2.28 CER Anticipated currency
Slide 11: FY 2025: Adj. operating income margin and adj. EPS perspectives
FY 2025: Adj. operating income margin and adj. EPS perspectives Adjusted operating income margin Adjusted diluted EPS outlook ~+9% ≥150 bps >30% 28.7% ~+$0.19 ~$2.37 ~-$0.05 CER CER CER ~-$0.04 CER ≥$2.28 CER $2.18 CER FY 2024 FY 2025 2024 Operational 2025 Adj. Adj. tax rate 2025 adj. EPS business u
Slide 12: 2025: Leveraging a strong core portfolio to drive growth
2025: Leveraging a strong core portfolio to drive growth QIAcuity QIAstat-Dx QDI Sample tech QuantiFERON Expanding CGT and New panel submissions: Converting customers to Shift to growth, led by Convert remaining 60% pathogen research assays U.S. (2) and EU (1) SaaS from license deals automation cons
Slide 13: Leveraging a strong portfolio to drive growth
Leveraging a strong portfolio to drive growth QIAcuity QIAstat-Dx QDI Sample tech QuantiFERON Growth pillars total sales (CER) 2024 $80 mn $109 mn $100 mn $646 mn $455 mn $1.39 bn Achieved: 99.3% CER sales (Target: >$90 mn) (Target: >$100 mn) (Target: >$110 mn) (Target: >$650 mn) (Target: >$450 mn)
Slide 14: Delivering sustainable growth
Delivering sustainable growth Reaffirming Accelerate profitable sales growth with focus 2028 targets Menu expansion and installed base growth of key platforms ~7% Net sales CER CAGR Leverage continuum of research to clinical testing (2024-28) Convert research market success into clinical solutions ≥
Slide 15: Appendix
QIAGEN Appendix
Slide 16: Q1 and FY 2025: Outlook and assumptions
Q1 and FY 2025: Outlook and assumptions (As of February 5, 2025) Q1 2025 outlook FY 2025 outlook Net sales ~+3% CER / ~+4% CER core portfolio(1) ~+4% CER / ~+5% CER core portfolio(1) Anticipated currency impact(2) Adverse impact of ~-2 ppt Adverse impact of ~-2 ppt Adjusted diluted EPS(3) >$0.50 CER
Slide 17: Organization: Adapting to evolving customer needs
Organization: Adapting to evolving customer needs Organizational design Creating relevant and 2 new EC functions: Thierry Bernard Roland Sackers Chief Executive Officer Chief Financial Officer sustainable ecosystems Replace 3 Business Areas Two new functions Portfolio streamlining Fernando Beils Nit
Slide 18: Q4 2024: Consolidated Statements of Income (unaudited)
Q4 2024: Consolidated Statements of Income (unaudited) (In $ thousands, except share data) Three months ended Three months ended December 31, 2024 December 31, 2023 Net sales 521,202 509,162 Cost of sales: Cost of sales 174,401 177,018 Acquisition-related intangible amortization 13,511 16,044 Total
Slide 19: FY 2024: Consolidated Statements of Income (unaudited)
FY 2024: Consolidated Statements of Income (unaudited) (In $ thousands, except share data) Twelve months ended Twelve months ended December 31, 2024 December 31, 2023 Net sales 1,978,214 1,965,311 Cost of sales: Cost of sales 952,323 667,425 Acquisition-related intangible amortization 58,541 64,198
Slide 20: 2024: Quarterly sales by product group
2024: Quarterly sales by product group Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 (In $ millions at actual rates / change in actual, CER rates) Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sample technologies 155 -11% -10% 164 -1% 1% 162 1% 1% 162 -2% -1% 642 -3% -3% Diagn
Slide 21: 2024: Quarterly sales by product type and region
2024: Quarterly sales by product type and region Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 (In $ millions at actual rates / 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 409 -5% -4% 442 2% 3% 448 7% 8% 461 4
Slide 22: Q4 and FY 2024: Reconciliation to adjusted results (unaudited)
Q4 and FY 2024: 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(1) Fourth quarter 2024 Reported results 521.2 333.2 119.1 125.8 (37.5) 30% 88.3 0.39 Adjustments Business integ
Slide 23: Q4 and FY 2024: Footnotes for reconciliation to adjusted results
Q4 and FY 2024: Footnotes for reconciliation to adjusted results (unaudited) (a) Includes costs incurred in connection with streamlining operations and improving overall efficiency as well as costs related to various contemplated and completed acquisition projects and their subsequent integration. (
Slide 24: 2024: Quarterly income statement summary
2024: Quarterly income statement summary (In $ millions, unless indicated) (Diluted EPS in $ per share) Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Net sales 458.8 496.3 501.9 521.2 1,978.2 Net sales (CER) 461.7 502.0 502.2 524.6 1,990.5 Gross profit 291.0 34.8 308.3 333.3 967.3 Gross profit margin 63.4
Slide 25: Consolidated Balance Sheets
Consolidated Balance Sheets December 31, December 31, December 31, December 31, (In $ thousands, except par value) 2024 2023 (In $ thousands, except par value) 2024 2023 Assets (unaudited) Liabilities and Equity (unaudited) Cash and cash equivalents 663,555 668,084 Current portion of long-term debt
Slide 26: Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows Twelve months ended December 31, December 31, Twelve months ended December 31, December 31, (In $ thousands) 2024 2023 (In $ thousands) 2024 2023 Cash flows from operating activities: u (unaudited) Cash flows from financing activities: (unaudited) Net income 83,
Slide 27: Q4 and FY 2024: Currency impact
Q4 and FY 2024: Currency impact Net sales Net sales Currency exposure Change (In $ millions / Actual) (CER) (As % of CER sales) (In $ millions) Q4 2024 U.S. dollar 279.6 279.6 53% 0.0 Euro 107.7 108.9 21% 1.2 British pound 19.3 18.5 4% -0.8 Japanese yen 11.5 12.0 2% 0.5 Other currencies 103.0 105.6
Slide 28: Employees as of December 31, 2024
Employees as of December 31, 2024 Europe / Middle Asia Pacific / Total Total Americas East / Africa Japan / ROW Q4 2024 Q3 2024 Change Production 360 1,138 138 1,636 1,684 -3% R&D 185 761 55 1,001 1,039 -4% Sales 567 839 741 2,147 2,149 0% Marketing 65 190 69 324 327 -1% Administration 81 418 158 65
Slide 29: Your contacts
Your contacts Dr. Domenica Martorana Associate Director Calendar Global Investor Relations Q1 2025 results May 2025 Phone: +49 2103 29 11244 E-mail: domenica.martorana@qiagen.com Annual General Meeting June 2025 Alexandra Koenig Coordinator Share information Investor Relations NYSE: QGEN Phone: +49