Qiagen N.v. · NYSE:QGEN
Qiagen — Goldman Sachs European Medtech-Healthcare Conference 2024
57 slides from Qiagen's conference presentation, Sep 5, 2024
Slide 1: Committed to solid profitable growth
Committed to solid profitable growth Investor Introduction Q3 2024
Slide 2: Forward looking and intended use statements
Forward looking and intended use statements Safe Harbor Statement: Certain statements contained in this presentation may be considered 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 1
Slide 3: The value of biology has never been stronger
The value of biology has never been stronger Crucial to Improving Direct impact advancing healthcare on your science for all lives Q3 2024 Investor Introduction 3
Slide 4: 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 Q3 2024 Investor Introduction 4
Slide 5: Leveraging a trusted brand known for quality
Leveraging a trusted brand known for quality Pharma / CROs Academia / hospitals Serving >500,000 customers from basic research to Clinical labs / test facilities Public agencies clinical testing CRO – Contract Research Organization Q3 2024 Investor Introduction 5
Slide 6: QIAGEN more focused and stronger than ever
QIAGEN more focused and stronger than ever QIAGEN Life Molecular customers Sciences Diagnostics ~$13-14 bn QIAGEN addressable product Sample technologies market groups ~4-6% (2028) Enhancing PCR CAGR growth and Genomics / NGS ~$11 bn value addressable Diagnostic solutions market (2024) +7% >85% >60,
Slide 7: Well-balanced across key market dimensions
Well-balanced across key market dimensions 2023 net sales: ~$2 bn Balanced portfolio Diversified product base Strong recurring revenues Global presence 12% 16% 34% 32% 36% 47% Product Product Customers 53% Regions groups types 3% 15% 88% 52% 12% Molecular Diagnostics Sample technologies Consumables
Slide 8: Delivering solid growth since 2019
// Sustain profitable growth Delivering solid growth since 2019 Strong non-COVID growth Improved profitability Healthy cash generation Total net sales Adjusted diluted EPS Operating cash flow +7% +10% +9% CAGR(1) CAGR CAGR ~$2.0 bn $2.07 ~$460 mn ~$1.5 bn ~$330 mn $1.43 2019 2023 2019 2023 2019 2023
Slide 9: Strong global presence in developed and emerging markets
Strong global presence in developed and emerging markets Our global and regional headquarters Direct sales in >30 countries Shipping products to >170 countries Germantown Venlo Hilden Maryland Netherlands Germany Singapore Shanghai Americas HQ Global HQ EMEA HQ Asia-Pacific HQ China HQ Q3 2024 Inves
Slide 10: From academia to clinical labs, a continuum of differentiated solutions
From academia to clinical labs, a continuum of differentiated solutions Samples Sample preparation Detection Insights PCR Any Sample Genomics / NGS biological technologies sample Diagnostic solutions Life Sciences customers Molecular Diagnostics customers Academic labs Hospitals / Decentralized heal
Slide 11: Focusing on attractive opportunities
Focusing on attractive opportunities Product PCR / Nucleic acid Sample technologies Diagnostic solutions NGS / Genomics groups amplification 2023 sales ~$663 m ~$698 m ~$300 m ~$239 m Accelerate investments for growth Build on proven leadership QIAcuity #2 QIAstat-Dx #3 QIAGEN #1 Sample #1 QuantiFER
Slide 12: QIAcuity dPCR
QIAcuity dPCR Quantitative PCR QIAcuity dPCR Next-generation (qPCR) Enabling novel applications sequencing (NGS) e.g., Cell and Gene Therapy e.g., liquid biopsy Lower sensitivity High sensitivity and precision In-depth insights and precision More accurate than qPCR and high precision dPCR – Capturin
Slide 13: Targeting research to clinical healthcare
Targeting research to clinical healthcare Key achievements Scalable systems Low- to high- throughput capabilities QIAcuity One QIAcuity Four QIAcuity Eight >2,000 cumulative placements since launch Academia Overcoming entry barrier vs. qPCR Translational and Ease of use Fully integrated cancer resea
Slide 14: Significant investments into QIAcuity dPCR
Significant investments into QIAcuity dPCR ≥$250 mn QIAcuity net sales CER target (2028) Target Extend Accelerate commercialization new applications into clinical use >3x increase NEW Add >100 assays NEW QIAcuity-Dx NEW of sales specialists for market menu expansion for CGT, version for Launch 2024
Slide 15: QIAstat-Dx
QIAstat-Dx Use case: 3-year-old with severe but unspecific GI symptoms Traditional testing Syndromic testing Slow diagnosis and treatment Fast diagnosis enabling better decisions can lead to complexities treatment decisions Identifying unknown diseases at speed One test within and ease Day 1 Day 1 o
Slide 16: QIAstat-Dx offers differentiated features
QIAstat-Dx offers differentiated features Key achievements Strong product capabilities Key differentiators Specification QIAstat-Dx Competition Workflow Additional >4,000 cumulative placements efficiency pathogens since launch Hands-on time ~1 min >5 min and safety on panels for for broader robust r
Slide 17: Expanding global presence and differentiated menu
Expanding global presence and differentiated menu ≥$200 mn QIAstat-Dx net sales CER target (2028) Grow installed Small hospitals Medium hospitals Large hospital networks customer Public health labs Regional reference labs National reference labs base FDA submission 2024 Low-throughput High-throughpu
Slide 18: QIAGEN Digital Insights unlocking the power of genomics
QIAGEN Digital QIAGEN unlocking the power of genomics Insights Development Genomic data In 2003, the first Today, any human human genome took genome can be read in 13 years 5 hours Sequencing Powerful analytics costs $100 / to understand >$1 bn / genome sequencing run 2000 2010 2020 2030 genomics Th
Slide 19: #1 leading from research to clinical customers
#1 leading from research to clinical customers Key achievements Addressing large customer base Delivering QDI software solutions for NGS workflow #1 Research – in bioinformatics software for research and clinical Scientific discovery Pharma / Biotech Academia Government research Sample prep Library
Slide 20: Case study: Research Advancing drug development
Case study: Research Advancing drug development Pharma challenge QDI pivotal to drug discovery Over 50,000 scientific publications cite our software Key to understanding disease pathways, targets and measure changes 24 of the Top 25 Pharma companies use QDI Significant number of failures without the
Slide 21: Case study: Clinical Enhancing patient outcomes
Case study: Clinical Enhancing patient outcomes Patient situation QDI-enhanced patient outcome Mutation identification and recommendation by QDI Profile Male (early 70s) Targeted therapy leading to life-saving disease remission Diagnosis QIAGEN Clinical Leukemia linked to rare gene mutation Insights
Slide 22: QIAGEN Offering uniquely profitable software-as-a-service
QIAGEN Offering uniquely profitable software-as-a-service Digital portfolio Insights Data analysis Data interpretation ~$100 mn Research Share of net sales QIAGEN CLC #1 QIAGEN IPA #1 QDI net sales (2023) ~60% OmicSoft #1 COSMIC #1 Human Gene Mutation #1 >80% annual recurring from subscription-based
Slide 23: Investing to extend market leadership
Investing to extend market leadership ≥$200 mn QDI net sales CER target (2028) Extend leadership in curated Deepen global Invest in new AI and other knowledge commercial reach technologies Expand QIAGEN knowledge base into Adopt SaaS go-to-market NEW Continue advancing software NEW spatial, proteomi
Slide 24: Sample technologies
Sample technologies Laboratory workflow Differentiated solutions for PCR Valuable Biological Sample modular, integrated workflows molecular sample technologies insights Fast time to result, scalability Critical step in and ease of use dPCR High-quality molecular sample prep key to workflows Platform
Slide 25: Leader in the first step of lab workflows
Leader in the first step of lab workflows Key achievements Comprehensive Any >350 DNA / RNA consumables portfolio biological sample different sample kits target analytes >120 mn QIAGEN preparations e.g., tissue, cells, blood, for manual and sold per year including variations serum, wastewater automa
Slide 26: Focused strategy to drive mid-term growth
Focused strategy to drive mid-term growth ≥$750 mn Sample technologies Liquid Pathogen net sales CER target Expand in state-of-the-art Microbiome biopsy detection (2028) applications with new consumables Extend #1 position with improved handling through new consumables kits Enter high-throughput QIA
Slide 27: QuantiFERON Tuberculosis: A highly contagious and lethal bacterial infection
QuantiFERON Tuberculosis: A highly contagious and lethal bacterial infection 1 in 4 Broad health risk Global relevance people have a latent TB bacterial infection High risk of ion to activ ress e og TB pr 1 in 10 EMEA of these people will develop an Immunocompromised ~10 mn active TB bacterial infec
Slide 28: Best-positioned latent tuberculosis test
Best-positioned latent tuberculosis test QuantiFERON Tuberculin Key achievements Advantages to Specification blood test skin test skin test Customizable automated workflow High accuracy and specificity $408 mn 2023 net sales (+70% vs. 2019) Only one patient visit Electronic results Quality-assured l
Slide 29: Driving skin test conversion with unrivaled automation
Driving skin test conversion with unrivaled automation ≥$600 mn QuantiFERON Leading automation advantage net sales CER target (2028) Automated Automated Increase liquid handling assay and result customer base Partnership with Diasorin to expand into Lyme disease Large potential in skin test conversi
Slide 30: Initiatives to fuel growth investments and achieve ≥31% adjusted operating income margin in 2028
Initiatives to fuel growth investments and achieve ≥31% adjusted operating income margin in 2028 Operational excellence Digitization Positioning QIAGEN for stronger profitable growth Accelerating growth and efficiency across QIAGEN Organizational design Portfolio streamlining >6 million ~30 website
Slide 31: Executing our strategy with empowered QIAGENers
Executing our strategy with empowered QIAGENers Great Great Great Great Great Great Place Place Place Place Place Place ~6,000 To Work ® Certified NOV 2023–NOV 2024 USA To Work ® Certificada DEC 202 2–DEC 202 3 MEXICO To Work ® Certificada OCT 202 3–OCT 202 4 BRASIL To Work ® Certified NOV 2021–NOV
Slide 32: Embracing ESG for all stakeholders
Embracing ESG for all stakeholders Top ESG ratings Environmental responsibility Net zero carbon emission target (2050) Investing in people 36% female leadership (2023) ≥40% target (2027) Serving society >50 public health partnerships (2023) Business with integrity ~8,000 compliance trainings complet
Slide 33: Reinvigorated leadership team dedicated to deliver
Reinvigorated leadership team dedicated to deliver Supervisory Board Executive Committee Lawrence A. Rosen Metin Colpan Chair Co-founder of QIAGEN Thierry Bernard Roland Sackers Joined in 2013 Chief Executive Officer Chief Financial Officer Joined EC in 2015 Joined EC in 2004 Toralf Haag Ross Levine
Slide 34: Leveraging strong balance sheet and cash flows to enhance growth
Leveraging strong balance sheet and cash flows to enhance growth Organic Profitable targeted investments investments into pillars and digitization to fuel profitable business expansion Strong cash flow and healthy Focused Value-creating transactions M&A to enhance portfolio and maintain leadership b
Slide 35: Why invest: Commitment to solid profitable growth
Why invest: Commitment to solid profitable growth Why invest in QIAGEN Trusted high-quality Differentiated portfolio Specialist sales force >85% highly brand with strong in fast-growing market backed by extensive recurring revenues customer networks segments digital engagement Accelerate Net sales M
Slide 36: Q2 2024 results
Q2 2024 results Solid performance exceeding outlook July 31, 2024
Slide 37: Q2 2024: Solid results ahead of outlook
Q2 2024: Solid results ahead of outlook Growth $496 m ($502 m CER) Solid Q2 2024 net sales and adj. diluted EPS results ahead of outlook Net sales • +2% CER sales growth excluding NeuMoDx +1% CER • Sample technologies (+1% CER), Diagnostic solutions (+5% CER, +8% CER excl. NeuMoDx) vs. Q2 2023 and P
Slide 38: Q2 2024: Sales performance and key developments
Q2 2024: Sales performance and key developments Sales by product group Key developments (In $ millions at actual rates) +1% Sample • Solid sales growth in automated consumables CER(1) technologies • Weaker instrument sales amid cautious customer spending 495 496 • +11% CER growth, another quarter ab
Slide 39: Q2 2024: Strong quarter for operating profitability
Q2 2024: Strong quarter for operating profitability Adj. operating income margin Adj. EPS ahead of Q2 2024 outlook Adj. operating SG&A improvements vs. Q2 2023 +1.0 ppt income 28.4% 27.4% Non- operating 19% adj. tax rate in line with outlook income $0.55 Adj. EPS(1) ($0.55 CER vs. $0.52 CER outlook)
Slide 40: H1 2024: Significant improvement in cash flow generation
H1 2024: Significant improvement in cash flow generation Cash flow Debt maturity overview(1) (in $ millions) In $ millions Q2 2024 Q2 2023 Change Operating cash flow 167 111 +49% 613 Purchases of PP&E -38 -29 +31% 500 113 Free cash flow 129 82 +56% Likely repayment in 2025(2) 500 150 In $ millions H
Slide 41: Q2 2024: Portfolio developments
Q2 2024: Portfolio developments Human ID / Forensics: QIAstat-Dx: Improving public safety Facilitate rapid and informed decisions FBI partnership in the U.S. New U.S. panel launches in July 2024 • Development of QIAcuity assays for improved • Gastrointestinal: New panel for detection of 16 quantific
Slide 42: 2024: Outlook perspectives
2024: Outlook perspectives Net sales outlook (CER) Adj. EPS outlook (CER) Full-year 2024 outlook update ≥$2.0 bn ≥$2.16 ~ +$15 m ≥$1.985 bn Net sales ~ -$30 m ≥$2.10 ~ +$0.04 ≥$1.985 bn CER ~ +$0.02 Adj. diluted EPS ≥$2.16 CER Initial H1 NeuMoDx Updated Initial H1 NeuMoDx Updated 2024 2024 decision(
Slide 43: 2024: Updating full-year outlook
2024: Updating full-year outlook As of July 31, 2024 Q3 2024 outlook FY 2024 outlook Net sales >$495 million CER >$1.985 billion CER Anticipated currency impact Adverse impact of ~ -1 ppt Adverse impact of ~ -1 ppt (Previously ≥$2.0 bn CER) Adjusted diluted EPS >$0.55 CER >$2.16 CER Anticipated curr
Slide 44: Financial information
QIAGEN Financial information
Slide 45: Q3 and FY 2024: Outlook and assumptions
Q3 and FY 2024: Outlook and assumptions (As of July 31, 2024) Q3 2024 outlook FY 2024 outlook Net sales >$495 million CER >$1.985 billion CER Anticipated currency impact(1) Adverse impact of ~ -1 ppt Adverse impact of ~ -1 ppt Adjusted diluted EPS(2) >$0.55 CER >$2.16 CER Anticipated currency impact
Slide 46: Q2 2024: Consolidated Statements of Income (unaudited)
Q2 2024: Consolidated Statements of Income (unaudited) (In $ thousands, except share data) Three months ended Three months ended June 30, 2024 June 30, 2023 Net sales 496,347 494,857 Cost of sales: Cost of sales 446,371 166,637 Acquisition-related intangible amortization 15,212 16,068 Total cost of
Slide 47: H1 2024: Consolidated Statements of Income (unaudited)
H1 2024: Consolidated Statements of Income (unaudited) (In $ thousands, except share data) Six months ended Six months ended June 30, 2024 June 30, 2023 Net sales 955,143 980,255 Cost of sales: Cost of sales 598,105 328,543 Acquisition-related intangible amortization 31,285 32,084 Total cost of sale
Slide 48: 2024: Quarterly sales by product group
2024: Quarterly sales by product group (In $ millions at actual rates / Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 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% 318 -6% -5% Diagnostic solutions(1) 170
Slide 49: 2024: Quarterly sales by product type, customer class and region
2024: Quarterly sales by product type, customer class and region (In $ millions at actual rates / Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 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%
Slide 50: Q2 and H1 2024: Reconciliation to adjusted results (unaudited)
Q2 and H1 2024: Reconciliation to adjusted results (unaudited) Net Gross Operating Pre-tax Income Tax Net Diluted (In $ millions, except EPS) sales profit income income tax rate income EPS* Second quarter 2024 Reported results 496.3 34.8 (228.4) (223.5) 40.0 18% (183.5) (0.83) Adjustments Business i
Slide 51: Q2 and H1 2024: Footnotes for reconciliation to adjusted results
Q2 and H1 2024: Footnotes for reconciliation to adjusted results (unaudited) a. Results for 2024 include charges for the restructuring program initiated in Q2 2024, as well as acquisition projects, includi ng the continued integration of Verogen Inc. Results for 2023 include acquisition projects inc
Slide 52: 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 458.8 496.3 955.1 Net sales (CER) 461.7 502.0 963.8 Gross profit 291.0 34.8 325.8 Gross profit margin 63.4% 7.0% 34.1% Adjusted gross profit 307.8
Slide 53: Consolidated Balance Sheets
Consolidated Balance Sheets December 31, December 31, (In $ thousands, except par value) June 30, 2024 2023 (In $ thousands, except par value) June 30, 2024 2023 Assets (unaudited) Liabilities and Equity (unaudited) Cash and cash equivalents 533,644 668,084 Current portion of long-term debt 492,699
Slide 54: Consolidated Statements of Cash Flows (unaudited)
Consolidated Statements of Cash Flows (unaudited) Six months ended Six months ended (In $ thousands) June 30, 2024 June 30, 2023 (In $ thousands) June 30, 2024 June 30, 2023 Cash flows from operating activities: Cash flows from financing activities: Net (loss) income (102,787) 165,821 Capital repaym
Slide 55: Q2 and H1 2024: Currency impact
Q2 and H1 2024: Currency impact Net sales Net sales Currency exposure Change (In $ millions / Actual) (CER) (As % of CER sales) (In $ millions) Q2 2024 U.S. dollar 271.3 271.3 54% 0.0 Euro 95.3 96.4 19% 1.1 British pound 19.5 19.4 4% -0.2 Japanese yen 8.9 10.1 2% 1.2 Other currencies 101.3 104.9 21%
Slide 56: Employees as of June 30, 2024
Employees as of June 30, 2024 Europe / Middle Asia Pacific / Total Total Americas East / Africa Japan / ROW Q2 2024 Q1 2024 Change Production 386 1,177 138 1,701 1,710 -1% R&D 220 775 58 1,053 1,056 0% Sales 572 847 743 2,162 2,168 0% Marketing 67 197 68 332 340 -2% Administration 79 420 156 655 660
Slide 57: Your contacts
Your contacts Dr. Domenica Martorana Calendar Associate Director Global Investor Relations Q3 2024 results November 2024 Phone: +49 2103 29 11244 E-mail: domenica.martorana@qiagen.com Q4 2024 results February 2025 Alexandra Koenig Share information Coordinator NYSE: QGEN Investor Relations Frankfurt
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