Qiagen N.v. · NYSE:QGEN
Qiagen — Q2 2022 Earnings Presentation
30 slides from Qiagen's earnings presentation, Jul 28, 2022
Slide 1: Q2 2022 results
Q2 2022 results Solid results with 10% CER sales growth in non-COVID portfolios
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: Q2 2022: Non-COVID product groups outperformed expectations
Q2 2022: Non-COVID product groups outperformed expectations Net sales (CER) Q2 2022: $544 million(1) vs. ≥ $510 million outlook + 10% non-COVID products - 39% COVID-19 products Adjusted EPS (CER) Q2 2022: $0.53 vs. ≥ $0.46 outlook CER - Constant Exchange Rates. 1) $516 million, -9% at actual rates R
Slide 4: Q2 2022: Strong performance from non-COVID portfolio
Q2 2022: Strong performance from non-COVID portfolio High-performing non- Expanding portfolio Strong operating cash Increasing 2022 full- COVID business value flow year outlook +10% CER growth in >1,000 cumulative H1 2022 operating cash flow Sales:>$2.2 billion CER non-COVID product groups, placemen
Slide 5: Q2 2022: Solid non-COVID sales growth in key product groups
Q2 2022: Solid non-COVID sales growth in key product groups Non-COVID / COVID split By product group (In $ millions at actual rates) (In $ millions at actual rates) - 4% CER - 4% CER $567 $567 $516 $516 203 Sample - 7% CER Non-COVID 178 technologies product groups 408 423 + 10% CER(1) 154 Diagnostic
Slide 6: Q2 2022: Growth in non-COVID product groups across all regions
Q2 2022: Growth in non-COVID product groups across all regions Americas • Strong double-digit growth in QuantiFERON sales • U.S.: Sales level similar to Q2 2021 • Canada: Double-digit CER growth Europe / Middle East / Africa • Germany, Spain and Netherlands: Americas EMEA APAC / Japan Double-digit C
Slide 7: Q2 2022: Investing in the business with strong operating cash flow
Q2 2022: Investing in the business with strong operating cash flow Adj. operating income Adj. EPS Operating cash flow (In $ millions) (In $ per share) (In $ millions) Targeted investments into key drivers $379 Continued R&D investments on menu expansion for QIAstat-Dx and NeuMoDx, 61 as well as QIAc
Slide 8: QIAstat-Dx Rise: Unique automated loading for high-volume testing
QIAstat-Dx Rise: Unique automated loading for high-volume testing NEW For laboratories processing > 5,000 samples annually Connectivity for remote monitoring First fully-automated high-volume syndromic testing platform Connecting to Walk-away efficiency and random access QIAsphere app Automatic load
Slide 9: QIAxcel Connect: Fully automated quality control and end-point detection
QIAxcel Connect: Fully automated quality control and end-point detection NEW Gel electrophoresis for DNA and RNA analysis For PCR and NGS workflows New upgrade of QIAxcel Advanced Higher sensitivity and new level of connectivity Simplicity and convenience “Plug and play” with ready-to-use gel cartri
Slide 10: Five pillars of growth: Reaffirming our goals for 2022 and beyond
Five pillars of growth: Reaffirming our goals for 2022 and beyond 2022 sales goals Post-COVID dynamics (CER) (CER) Sample technologies >$750 m Sustainable low- to mid-single-digit growth QuantiFERON >$310 m Sustainable low-double-digit growth QIAstat-Dx >$85 m Sustainable double-digit growth NeuMoDx
Slide 11: Outlook: Q3 and FY 2022
Outlook: Q3 and FY 2022 Q3 2022 outlook Updated FY 2022 outlook > $510 million CER ≥ $2.2 billion CER Net sales Adverse FX impact of ~ -6 p.p Adverse FX impact of ~ -5 p.p. Anticipated currency impact (Prior year: $534.7 m) (Prior year: $2,251.7 m) Non-COVID product groups Double-digit CER growth ≥
Slide 12: Appendix
Appendix
Slide 13: Q3 and FY 2022: Outlook and assumptions
Q3 and FY 2022: Outlook and assumptions (As of July 26, 2022) Q3 2022 outlook Updated FY 2022 outlook > $510 million CER ≥ $2.2 billion CER Net sales (Prior year: $534.7 m) (Prior year: $2,251.7 m) Anticipated currency impact(1) Adverse impact of ~ -6 p.p. Adverse impact of ~ -5 p.p. > $0.48 CER > $
Slide 14: Q2 2022: Consolidated Statements of Income (unaudited)
Q2 2022: Consolidated Statements of Income (unaudited) Three months ended Three months ended (In $ thousands, except share data) June 30, 2022 June 30, 2021 Net sales 515,512 567,308 Cost of sales: Cost of sales 169,381 180,388 Acquisition-related intangible amortization 15,113 17,732 Total cost of
Slide 15: H1 2022: Consolidated Statements of Income (unaudited)
H1 2022: Consolidated Statements of Income (unaudited) Six months ended Six months ended (In $ thousands, except share data) June 30, 2022 June 30, 2021 Net sales 1,143,903 1,134,514 Cost of sales: Cost of sales 367,499 359,362 Acquisition-related intangible amortization 30,416 35,373 Total cost of
Slide 16: 2022: Quarterly sales by product group
2022: Quarterly sales by product group (In $ millions at actual rates / Q1 2022 Q2 2022 Q3 2022 Q4 2022 FY 2022 change in actual, CER rates) Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sample technologies 265 17% 22% 178 -12% -7% 443 3% 8% Diagnostic solutions(1) 174 1
Slide 17: 2021: Quarterly sales by product group
2021: Quarterly sales by product group (In $ millions at actual rates / Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 change in actual, CER rates) Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sample technologies 227 47% 42% 203 1% -3% 202 -5% -6% 218 -7% -5% 851 6% 4% Diagnos
Slide 18: 2022: Sales by non-COVID and COVID-19 product groups
2022: Sales by non-COVID and COVID-19 product groups (In $ millions at actual rates / Q1 2022 Q2 2022 Q3 2022 Q4 2022 FY 2022 change in actual, CER rates) Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Non-COVID product groups 400 10% 14% 423 4% 10% 823 7% 12% COVID-19 pr
Slide 19: 2021: Sales by non-COVID and COVID-19 product groups
2021: Sales by non-COVID and COVID-19 product groups Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 (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 Non-COVID product groups 364 20% 16% 408 57% 52% 376 18% 17% 400 8% 10
Slide 20: 2022: Quarterly sales by product type, customer class and region
2022: Quarterly sales by product type, customer class and region (In $ millions at actual rates / Q1 2022 Q2 2022 Q3 2022 Q4 2022 FY 2022 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 561 13% 17% 453 -9% -
Slide 21: 2021: Quarterly sales by product type, customer class and region
2021: Quarterly sales by product type, customer class and region (In $ millions at actual rates / Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 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 498 53% 48% 498 33% 2
Slide 22: Q2 2022: Reconciliation adjusted results (unaudited)
Q2 2022: Reconciliation adjusted results (unaudited) (In $ millions, except EPS) Net Gross Operating Pretax Income Tax Net Diluted sales profit income income tax rate income EPS Second quarter 2022 Reported results 515.5 331.0 122.2 115.5 (18.9) 16% 96.7 0.42 Adjustments Business integration, acquis
Slide 23: Q2 2022: Footnotes for reconciliation adjusted results (unaudited)
Q2 2022: Footnotes for reconciliation adjusted results (unaudited) a) Results for 2022 include costs for acquisition projects, including continued integration activities at NeuMoDx, as well as costs and impairments related to our business in Russia, Ukraine and Belarus, and the Q2 2022 acquisition o
Slide 24: 2022: Quarterly and full-year income statement summary
2022: Quarterly and full-year income statement summary (In $ millions, unless indicated) (Diluted EPS in $ per share) Q1 2022 Q2 2022 Q3 2022 Q4 2022 FY 2022 Net sales 628.4 515.5 1,143.9 Net sales (CER) 654.1 543.8 1,197.9 Gross profit 415.0 331.0 746.0 Gross profit margin 66.0% 64.2% 65.2% Adjuste
Slide 25: 2021: Quarterly and full-year income statement summary
2021: Quarterly and full-year income statement summary (In $ millions, unless indicated) (Diluted EPS in $ per share) Q1 2021 Q2 2021 Q3 2021 Q4 2021 FY 2021 Net sales 567.2 567.3 534.7 582.4 2,251.7 Gross profit 370.6 369.2 337.2 373.8 1,450.8 Gross profit margin 65.3% 65.1% 63.1% 64.2% 64.4% Adjus
Slide 26: Consolidated Balance Sheets
Consolidated Balance Sheets June 30, December 31, June 30, December 31, (In $ thousands, except par value) 2022 2021 (In $ thousands, except par value) 2022 2021 Assets (unaudited) Liabilities and Equity (unaudited) Cash and cash equivalents 706,534 880,516 Current portion of long-term debt 460,267
Slide 27: Consolidated Statements of Cash Flows (unaudited)
Consolidated Statements of Cash Flows (unaudited) Six months ended June 30, June 30, Six months ended June 30, June 30, (In $ thousands) 2022 2021 (In $ thousands) 2022 2021 Cash flows from operating activities: Cash flows from financing activities: Net income 251,973 250,274 Repayment of long-term
Slide 28: Q2 and H1 2022: Currency impact
Q2 and H1 2022: Currency impact Net sales Net sales Currency exposure Change (In $ millions / Actual) (CER) (As % of CER sales) (In $ millions) Q2 2022 0 U.S. dollar 267.9 267.9 49% 0.0 Euro 105.8 119.5 22% 13.7 British pound 22.2 24.7 5% 2.4 Japanese yen 11.7 13.9 3% 2.2 Other currencies 107.8 117.
Slide 29: Employees as of June 30, 2022
Employees as of June 30, 2022 Europe / Middle Asia Pacific / Total Total Americas East / Africa Japan / ROW Q2 2022 Q1 2022 Change Production 418 1,274 153 1,845 1,812 2% R&D 207 771 58 1,036 997 4% Sales 600 879 815 2,294 2,254 2% Marketing 73 199 72 344 336 2% Administration 79 419 159 657 631 4%
Slide 30: Your contacts
Your contacts Phoebe Loh Senior Director Calendar Global Investor Relations Q3 2022 results November 2022 Phone: +49 2103 29 11457 Mobile: +49 152 018 11457 Q4 2022 results February 2023 E-mail: phoebe.loh@qiagen.com Alexandra Koenig Share information Coordinator Investor Relations NYSE: QGEN Phone: