Qiagen N.v. · NYSE:QGEN
Qiagen — Q1 2021 Earnings Presentation
32 slides from Qiagen's earnings presentation, May 5, 2021
Slide 1: First quarter 2021 results
First quarter 2021 results May 4, 2021 Sample to Insight
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 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 b
Slide 3: Agenda
Agenda Introduction John Gilardi VP Corp Communications and IR Business and financial update Thierry Bernard Chief Executive Officer Roland Sackers Chief Financial Officer Q&A session Sample to Insight Q1 2021 results 3
Slide 4: Q1 2021: Summary
Q1 2021: Summary 1 Exceeded Q1 outlook: +48% CER sales growth vs. +45% CER outlook and $0.65 CER adj. EPS vs. $0.60-0.62 outlook 2 Executing on our plan: +16% CER growth on faster-than-expected ramp of non-COVID sales 3 Ongoing high COVID-19 sales: +186% CER vs. Q1 2020 and at a similar level to Q4
Slide 5: Q1 2021: Key figures at a glance
Q1 2021: Key figures at a glance Net sales Adjusted EPS(1) (In $ millions, at actual rates) (In $ per share, at actual rates) Adj. gross margin 69% 70% Q1 2020 +48% CER +91% CER $0.66 567.2 Adj. operating income margin 372.1 34% 27% Q1 2020 $0.34 Free cash flow $82.3 million -$4.1 million Q1 2020 20
Slide 6: Sales by product groups
Sales by product groups (in $ million at actual rates / change in actual, CER rates) Q1 2021 Q1 2020 Actual CER Sample technologies 227 154 47% 42% Diagnostic solutions(1) 150 96 56% 52% Of which QuantiFERON 57 45 25% 22% Of which QIAstat-Dx 22 7 229% 218% Of which NeuMoDx 32 3 NM NM Of which Other(
Slide 7: Sales by non-COVID and COVID-19 product groups
Sales by non-COVID and COVID-19 product groups Q1 2021: Sales split of COVID-19 product groups (in $ million at actual rates / change Q1 2021 Q1 2020 Actual CER % of sales and % of 2021 sales in actual, CER rates) Non-COVID products 364 303 20% 16% 64% ~27% OEM components COVID-19 related products 2
Slide 8: Sales by geographic regions
Sales by geographic regions Q1 2021: Sales by geographic region (in $ million at actual rates / change Q1 2021 Q1 2020 Actual CER % of sales and % of 2021 sales in actual, CER rates) 18% Americas 244 174 41% 41% 43% APAC / Japan Europe / Middle East / Africa 219 128 70% 60% 39% 39% EMEA Asia-Pacific
Slide 9: Strategy update: Investing in growth pillars to drive post-pandemic growth
Strategy update: Investing in growth pillars to drive post-pandemic growth Current status 2021 goals Q1 2021 updates Sample Broadest portfolio with leading • New automation workflows Launched QIAcube Connect MDx instrument technologies brand reputation and specialty applications Launched artus®
Slide 10: Sample technologies: Building on sustainable differentiated market leadership
Sample technologies: Building on sustainable differentiated market leadership NEW NEW NEW QIAcube Connect MDx artus SARS-CoV-2 Prep&Amp EZ2 Connect First launches in H2 2021 QIAcube technology for low-thoughput Combining liquid-based sample EZ2 Connect: Research and automated sample processing prepa
Slide 11: QuantiFERON: Addressing growing opportunity for early detection of Lyme Disease
QuantiFERON: Addressing growing opportunity for early detection of Lyme Disease LIAISON® LymeDetect ® assay Lyme Disease in western Europe • Allows for earlier detection than existing tests • Fully automated on DiaSorin LIAISON platforms Estimated cases(1) Potential testing market ~$400-600 million
Slide 12: QuantiFERON: Versatile low- to high-throughput automation capabilities for latent TB testing
QuantiFERON: Versatile low- to high-throughput automation capabilities for latent TB testing Proven gold standard QuantiFERON technology with full automation flexibility • Attractive market: Only 25% of ~70 million annual latent TB tests converted to IGRA blood tests • >8,000 LIAISON platforms world
Slide 13: Appointment of new Supervisory Board member
Appointment of new Supervisory Board member Complements and enhances Board expertise Supervisory Board Thomas Ebeling Lawrence A. Rosen Chair Toralf Haag • Appointed in February 2021 • Former CEO of Germany’s ProSiebenSat.1 Media SE Stéphane Bancel Ross Levine • Prior roles at Novartis as CEO of Pha
Slide 14: Q2 and FY 2021: Outlook and assumptions
Q2 and FY 2021: Outlook and assumptions FY 2021 outlook Q2 2021 outlook (Announced February 2021) ~+20% CER ~+18-20% CER Net sales (Prior year: $443.3 m) (Prior year: $1,870.3 m) ~$0.62-0.64 CER ~$2.42-2.46 CER Adjusted EPS(1) (Prior year: $0.55) (Prior year: $2.15) Adjustments to operating income (
Slide 15: Summary
Summary 1 Strong Q1 2021 results: Exceeded outlook for sales growth and adjusted EPS 2 +16% CER growth in non-COVID product groups vs. Q1 2020 3 Positioning QIAGEN for sustainable and profitable post-pandemic growth Reaffirming FY 2021 outlook: ~+18-20% CER sales growth, ~$2.42-2.46 CER adj. EPS 4 Q
Slide 16: Appendix
Appendix
Slide 17: QIAGEN sales reporting in new product groups
QIAGEN 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 contr
Slide 18: 2021: Quarterly sales by product group
2021: Quarterly sales by product group Q1 2021 (In $ millions at actual rates / change in actual, CER rates) Sales Act. CER Sample technologies 227 47% 42% Diagnostic solutions(1) 150 56% 52% Of which QuantiFERON 57 25% 22% Of which QIAstat-Dx 22 229% 218% Of which NeuMoDx 32 NM NM Of which Other 39
Slide 19: 2020: Quarterly sales by product group
2020: Quarterly sales by product group Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 (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 154 22% 24% 200 46% 49% 214 57% 56% 236 59% 55% 804 47% 47% Diag
Slide 20: 2021: Sales by non-COVID and COVID-19 product groups
2021: Sales by non-COVID and COVID-19 product groups Net sales by product group Q1 2021 (In $ millions at actual rates / change in actual, CER rates) Sales Act. CER Non-COVID products 364 20% 16% COVID-19 related products 203 194% 186% Total 567 52% 48% Sales figures and sales contributions at actua
Slide 21: 2020: Sales by non-COVID and COVID-19 product groups
2020: Sales by non-COVID and COVID-19 product groups Net sales by product group Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 (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 products 303 -5% -4% 259 -25% -23
Slide 22: 2021: Quarterly sales by product type, customer class and region
2021: Quarterly sales by product type, customer class and region Q1 2021 (In $ millions at actual rates / Product type change in actual, CER rates) Sales Act. CER Consumables and related revenues 498 53% 48% Instruments 69 49% 43% Customer class Molecular Diagnostics 279 59% 54% Life Sciences 288 47
Slide 23: 2020: Quarterly sales by product type, customer class and region
2020: Quarterly sales by product type, customer class and region Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 (In $ millions at actual rates / Product type change in actual, CER rates) Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Consumables and related revenues 326 4% 6% 37
Slide 24: Q1 2021: Consolidated Statements of Income (unaudited)
Q1 2021: Consolidated Statements of Income (unaudited) Three months ended Three months ended (In $ thousands, except share data) March 31, 2021 March 31, 2020 Net sales 567,206 372,097 Cost of sales: Cost of sales 178,974 113,447 Acquisition-related intangible amortization 17,641 15,112 Total cost o
Slide 25: Q1 2021: Reconciliation adjusted results
Q1 2021: Reconciliation adjusted results Net Gross Operating Pretax Income Tax Net Diluted In $ millions (Except EPS) profit income income tax rate income EPS (Unaudited) sales First quarter 2021 Reported results 567.2 370.6 163.8 159.1 (29.9) 19% 129.2 0.56 Adjustments Business integration, acquisi
Slide 26: Q1 2021: Currency impact
Q1 2021: Currency impact Net sales Net sales Currency exposure Change (In $ millions/Actual) (CER) (As % of CER sales) (In $ millions) First quarter 2021 U.S. dollar 276.6 276.6 50% 0.0 Euro 136.9 125.1 23% 11.8 British pound 21.4 20.0 4% 1.4 Japanese yen 20.5 19.9 3% 0.6 Other currencies 111.8 107.
Slide 27: 2021: Quarterly income statement summary
2021: Quarterly income statement summary (In $ millions, unless indicated) (Diluted EPS in $ per share) Q1 2021 Net sales 567.2 Net sales (CER) 549.5 Gross profit 370.6 Gross profit margin 65% Adjusted gross profit 389.7 Adjusted gross profit margin 69% Operating income 163.8 Operating margin 29% Ad
Slide 28: 2020: Quarterly and full-year income statement summary
2020: Quarterly and full-year income statement summary (In $ millions, unless indicated) (Diluted EPS in $ per share) Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 Net sales 372.1 443.3 483.8 571.2 1,870.3 Gross profit 243.5 295.0 320.8 373.4 1,232.7 Gross profit margin 65% 67% 66% 65% 66% Adjusted gross
Slide 29: Consolidated Balance Sheets
Consolidated Balance Sheets March 31, December 31, March 31, December 31, (In $ thousands, except par value) 2021 2020 (In $ thousands, except par value) 2021 2020 Assets (unaudited) Liabilities and Equity (unaudited) Cash and cash equivalents 787,786 597,984 Current portion of long-term debt − 42,5
Slide 30: Consolidated Statements of Cash Flows (unaudited)
Consolidated Statements of Cash Flows (unaudited) Three months ended Three months ended March 31, March 31, March 31, March 31, (In $ thousands) 2021 2020 (In $ thousands) 2021 2020 Cash flows from operating activities: Cash flows from financing activities: Net income 129,223 39,829 Repayment of lon
Slide 31: Employees as of March 31, 2021
Employees as of March 31, 2021 Europe / Asia Pacific / Total Total Americas Middle East / Africa Japan / ROW Q1 2021 Q1 2020 Change Production 416 1,062 146 1,624 1,204 35% R&D 213 692 52 957 870 10% Sales 578 846 792 2,216 2,073 7% Marketing 71 182 86 339 317 7% Administration 81 382 157 620 595 4%
Slide 32: Your contacts
Your contacts John Gilardi Vice President Calendar Corporate Communications and IR Phone: +49 2103 29 11711 Annual General Meeting June 2021 +1 240 686 2222 Mobile: +49 152 018 11711 Q2 2021 results July 2021 E-mail: john.gilardi@qiagen.com Q3 2021 results November 2021 Phoebe Loh Share information