Qiagen N.v. · NYSE:QGEN
Qiagen — Q3 2023 Earnings Presentation
25 slides from Qiagen's earnings presentation, Oct 31, 2023
Slide 1: Q3 2023 results
Q3 2023 results Exceeded outlook for net sales and adjusted EPS October 30, 2023
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: Q3 2023: Exceeded outlook driven by non-COVID growth
Q3 2023: Exceeded outlook driven by non-COVID growth Delivering a solid performance in a volatile market Net $470 million CER(1) • Q3 2023 sales and adj. EPS above outlook sales +5% CER non-COVID • +8% CER growth in non-COVID product groups for 9M 2023 vs outlook of ≥ $465 m CER Advancing our Pillar
Slide 4: Q3 2023: +5% CER growth in non-COVID product groups
Q3 2023: +5% CER growth in non-COVID product groups Non-COVID / COVID split By product group (In $ millions at actual rates) (In $ millions at actual rates) -5% -5% (-6% CER) (-6% CER) $500 $500 $476 $476 Non-COVID product groups 183 160 Sample technologies -13% CER +5% CER 417 442 160 179 Diagnosti
Slide 5: Q3 2023: Solid non-COVID CER growth in Americas and EMEA
Q3 2023: Solid non-COVID CER growth in Americas and EMEA Americas • U.S. led by QuantiFERON and QIAcuity EMEA • Strong non-COVID sales $145 m trends in Mexico and Canada Americas +10% CER non-COVID $254 m Europe / Middle East / Africa • Among top performing countries: +4% CER non-COVID Q3 2023 Franc
Slide 6: Q3 2023: Leveraging our leading margins to invest in QIAGEN
Q3 2023: Leveraging our leading margins to invest in QIAGEN Adj. operating income Adj. diluted EPS Operating cash flow (In $ millions) (In $ per share) (In $ millions) ~10% of sales invested into R&D in 9M 2023 $591 $144 $126 $0.50 $0.53 ($0.50 CER) $308 28.7% 26.6% Q3 2022 Q3 2023 Q3 2022 Q3 2023 9
Slide 7: Outlook: Q4 and FY 2023
Outlook: Q4 and FY 2023 Q4 2023 outlook FY 2023 outlook (As of October 30, 2023) Net sales >$500 million CER >$1.97 billion CER Anticipated currency impact Neutral FX impact ~1 percentage point headwind Adjusted diluted EPS >$0.53 CER >$2.07 CER Anticipated currency impact Neutral FX impact At least
Slide 8: Sample technologies: Expanding leadership with new launches
Sample technologies: Expanding leadership with new launches QIAwave kits: Executing on our sustainability targets Tissue Lyser III: Modern upgrade to trusted technology • Eco-friendlier versions of best-selling • Replacing Tissue Lyser II which is cited in over 14,000 publications sample preparation
Slide 9: QuantiFERON: Leading the way in modern latent TB testing
QuantiFERON: Leading the way in modern latent TB testing QuantiFERON-TB Gold leader with strong differentiation QFT-TB Gold ~70-80% • Unparalleled automation workflow market share Only test with fully automated low- to high-throughput options • Setting the clinical standard for blood-based TB testin
Slide 10: Leadership changes in Executive Committee
Leadership changes in Executive Committee Jean-Pascal Viola Fernando Beils • Appointed Senior Vice President, Corporate • Joins November 1 as Senior Vice President, Strategy & Business Development and member Head of Molecular Diagnostics Business Area of the Executive Committee and member of the Exe
Slide 11: Summary
Summary Delivering solid performance in a volatile market Q3 2023: Above outlook with $470 million CER net sales, $0.50 CER adj. diluted EPS Q3 2023: +5% CER sales growth in non-COVID portfolio with above-market growth Driven by ongoing steady demand from diversified portfolio; +8% CER sales growth
Slide 12: Appendix
Appendix
Slide 13: Q4 and FY 2023: Outlook and assumptions
Q4 and FY 2023: Outlook and assumptions (As of October 30, 2023) Q4 2023 outlook FY 2023 outlook Net sales >$500 million CER >$1.97 billion CER Anticipated currency impact(1) Neutral FX impact ~1 percentage point headwind Adjusted diluted EPS(2) >$0.53 CER >$2.07 CER Anticipated currency impact(1) N
Slide 14: Q3 2023: Consolidated Statements of Income (unaudited)
Q3 2023: Consolidated Statements of Income (unaudited) Three months ended Three months ended (In $ thousands, except share data) September 30, 2023 September 30, 2022 Net sales 475,894 499,631 Cost of sales: Cost of sales 161,864 163,511 Acquisition-related intangible amortization 16,070 15,069 Tota
Slide 15: 9M 2023: Consolidated Statements of Income (unaudited)
9M 2023: Consolidated Statements of Income (unaudited) Nine months ended Nine months ended (In $ thousands, except share data) September 30, 2023 September 30, 2022 Net sales 1,456,149 1,643,534 Cost of sales: Cost of sales 490,407 531,010 Acquisition-related intangible amortization 48,154 45,485 To
Slide 16: 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% 499 -20% -19% Diagnostic
Slide 17: 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% 1,333 8% 8% CO
Slide 18: 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 19: Q3 and 9M 2023: Reconciliation to adjusted results (unaudited)
Q3 and 9M 2023: Reconciliation to adjusted results (unaudited) (In $ millions, except EPS) Net Gross Operating Pretax Income Tax Net Diluted sales profit income income tax rate income EPS Third quarter 2023 Reported results 475.9 298.0 97.2 99.8 (22.0) 22% 77.8 0.34 Adjustments Business integration,
Slide 20: Q3 and 9M 2023: Footnotes for reconciliation to adjusted results
Q3 and 9M 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 21: 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 1,456.1 Net sales (CER) 501.6 497.4 469.9 1,468.9 Gross profit 307.5 312.1 298.0 917.6 Gross profit margin 63.3% 63.1% 62.6% 63.
Slide 22: Consolidated Balance Sheets
Consolidated Balance Sheets September 30, December 31, September 30, 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 579,935 730,669 Current portion of long-term deb
Slide 23: Consolidated Statements of Cash Flows (unaudited)
Consolidated Statements of Cash Flows (unaudited) Nine months ended September 30, September 30, Nine months ended September 30, September 30, (In $ thousands) 2023 2022 (In $ thousands) 2023 2022 Cash flows from operating activities: Cash flows from financing activities: Net income 243,639 334,367 P
Slide 24: Q3 and 9M 2023: Currency impact
Q3 and 9M 2023: Currency impact Net sales Net sales Currency exposure Change (In $ millions / Actual) (CER) (As % of CER sales) (In $ millions) Q3 2023 0 U.S. dollar 262.2 262.2 56% 0.0 Euro 88.1 81.6 17% -6.5 British pound 19.2 17.8 4% -1.3 Japanese yen 10.1 10.6 2% 0.5 Other currencies 96.4 97.7 2
Slide 25: Your contacts
Your contacts Phoebe Loh Senior Director Calendar Global Investor Relations Q4 and FY 2023 results February 2024 Phone: +49 2103 29 11457 Mobile: +49 152 018 11457 Q1 2024 results April 2024 E-mail: phoebe.loh@qiagen.com June 2024 Annual General Meeting Share information Alexandra Koenig Coordinator