Qiagen N.v. · NYSE:QGEN
Qiagen — Q2 2021 Earnings Presentation
30 slides from Qiagen's earnings presentation, Jul 29, 2021
Slide 1: Q2 and H1 2021 full results
Q2 and H1 2021 full results July 29, 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: Summary
Summary 1 Q2 2021 results exceeded outlook • $567.3 m net sales (+28% actual, +24% CER vs. ~20% CER outlook) • $0.67 adj. diluted EPS ($0.66 CER vs. ~$0.62-0.64 CER outlook) 2 Very strong Q2 2021 non-COVID product group sales • +52% CER growth to $408 m, 72% of total sales, vs. $259 m in Q2 2020 • G
Slide 4: Q2 2021: Key figures at a glance
Q2 2021: Key figures at a glance Net sales Adjusted EPS(1) Adj. gross margin – Q2 2021 (In $ millions, at actual rates) (In $ per share, at actual rates) 68.7% 69.9% Q2 2020 +39% / +49% / +35% CER +47% CER 1,135 +22% / Adj. operating income margin – Q2 2021 $1.33 +28% / +20% CER +24% CER 815 $0.89 3
Slide 5: Q2 and H1 2021: Sales by product groups
Q2 and H1 2021: Sales by product groups (In $ million at actual rates / change in actual, CER rates) Q2 2021 Q2 2020 Actual CER H1 2021 H1 2020 Actual CER Sample technologies 203 200 1% -3% 430 354 21% 16% Diagnostic solutions(1) 154 87 76% 71% 304 183 66% 61% Of which QuantiFERON 72 33 114% 109% 12
Slide 6: Q2 and H1 2021: Sales by non-COVID and COVID-19 product groups
Q2 and H1 2021: Sales by non-COVID and COVID-19 product groups (In $ million at actual rates / change Q2 2021 Q2 2020 Actual CER % of sales H1 2021 H1 2020 Actual CER % of sales and % of 2021 sales in actual, CER rates) Non-COVID product groups 408 259 57% 52% 72% 772 562 37% 33% 68% COVID-19 produc
Slide 7: Q2 and H1 2021: Sales by geographic regions
Q2 and H1 2021: Sales by geographic regions (In $ million at actual rates / change Q2 2021 Q2 2020 Actual CER % of sales H1 2021 H1 2020 Actual CER % of sales and % of 2021 sales in actual, CER rates) Americas 257 177 45% 44% 45% 501 351 43% 42% 44% Europe / Middle East / Africa 202 164 23% 15% 36%
Slide 8: Five pillars update: Investing to drive solid post-pandemic business expansion
Five pillars update: Investing to drive solid post-pandemic business expansion 2021 CER Updated 2021 CER expectations expectations Post-COVID dynamics Q2 2021 update (December 2020) (July 2021) Sample • Sustainable low- to • Workflow Configurator launched to simplify >$750 m >$750 m technologies mid
Slide 9: 2021 sales outlook: Updated perspectives
2021 sales outlook: Updated perspectives (As of July 12, 2021) (In $ at CER) At least 12% CER ~$2.2 bn ~$2.1 bn ~ -$110 m ~ -$200 m ~ +$90 m ~ -$70 m Antigen testing ~ +$30 m Sample tech (DNA) ~ -$60 m QIAstat-Dx ~ +$25 m QuantiFERON ~ -$40 m NeuMoDx ~ +$35 m Rest of portfolio ~ -$30 m Sample tech (
Slide 10: Q3 and FY 2021: Outlook and assumptions
Q3 and FY 2021: Outlook and assumptions (As of July 12, 2021) Q3 2021 outlook FY 2021 outlook ~0% CER ≥ +12% CER Net sales (Prior year: $483.8 m) (Prior year: $1,870.3 m) Anticipated currency impact(1) ~ +1-2 p.p. ~ +2-3 p.p. ~$0.52-0.53 CER ≥ $2.42 CER Adjusted EPS(2) (Prior year: $0.58) (Prior yea
Slide 11: Summary FY 2021 outlook
Summary 1 Exceeded Q2 2021 outlook: 24% CER sales growth and $0.66 CER adj. EPS 1 2 Very strong non-COVID product group sales: +52% CER in Q2 2021, represented 72% of sales 2 3 Faster-than-expected vaccination success leading to reduced COVID-19 testing demand 4 FY 2021 outlook: ≥ 12% CER sales grow
Slide 12: Appendix
Appendix Sample to Insight
Slide 13: 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 14: 2021: Quarterly sales by product group
2021: Quarterly sales by product group Q1 2021 Q2 2021 Q3 2021 Q4 2021 H1 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 Sample technologies 227 47% 42% 203 1% -3% 430 21% 16% Diagnostic solutions(1) 150 5
Slide 15: 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 16: 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 H1 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 products 364 20% 16% 408 57% 52% 772 37% 33% COVID-19 relate
Slide 17: 2020: Sales by non-COVID and COVID-19 product groups
2020: Sales by non-COVID and COVID-19 product groups 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% 320 -8% -8% 371 0% -2% 1,
Slide 18: 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 / change in actual, CER rates) Q1 2021 Q2 2021 Q3 2021 Q4 2021 H1 2021 Product type Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Consumables and related revenues 498 53% 48%
Slide 19: 2020: Quarterly sales by product type, customer class and region
2020: Quarterly sales by product type, customer class and region (In $ millions at actual rates / change in actual, CER rates) Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 Product type Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Consumables and related revenues 326 4% 6% 37
Slide 20: Q2: Consolidated Statements of Income (unaudited)
Q2: Consolidated Statements of Income (unaudited) Three months ended Three months ended (In $ thousands, except share data) June 30, 2021 June 30, 2020 Net sales 567,308 443,252 Cost of sales: Cost of sales 180,388 133,340 Acquisition-related intangible amortization 17,732 14,942 Total cost of sales
Slide 21: H1: Consolidated Statements of Income (unaudited)
H1: Consolidated Statements of Income (unaudited) Six months ended Six months ended (In $ thousands, except share data) June 30, 2021 June 30, 2020 Net sales 1,134,514 815,349 Cost of sales: Cost of sales 359,362 246,787 Acquisition-related intangible amortization 35,373 30,054 Total cost of sales 3
Slide 22: 2021: Quarterly income statement summary
2021: Quarterly income statement summary (In $ millions, unless indicated) (Diluted EPS in $ per share) Q1 2021 Q2 2021 Q3 2021 Q4 2021 H1 2021 Net sales 567.2 567.3 1,134.5 Net sales (CER) 549.5 547.7 1,097.2 Gross profit 370.6 369.2 739.8 Gross profit margin 65.3% 65.1% 65.2% Adjusted gross profit
Slide 23: 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 65.5% 66.5% 66.3% 65.4% 65.9% Adjus
Slide 24: Q2 and H1 2021: Reconciliation adjusted results (unaudited)
Q2 and H1 2021: Reconciliation adjusted results (unaudited) (In $ millions, except EPS) Net Gross Operating Pretax Income Tax Net Diluted Second quarter 2021 sales profit income income tax rate income EPS Reported results 567.3 369.2 161.3 149.9 (28.8) 19% 121.1 0.52 Adjustments Business integration
Slide 25: Q2 and H1 2021: Footnotes for reconciliation adjusted results (unaudited)
Q2 and H1 2021: Footnotes for reconciliation adjusted results (unaudited) (a) Results for 2021 include continued integration-related activities for the NeuMoDx acquisition completed in September 2020. Results for 2020 include expenses associated with the public takeover offer for QIAGEN. A restructu
Slide 26: Q2 and H1 2021: Currency impact
Q2 and H1 2021: Currency impact Net sales Net sales Currency exposure Change (In $ millions/Actual) (CER) (As % of CER sales) (In $ millions) Second quarter 2021 U.S. dollar 292.2 292.2 53% 0.0 Euro 125.6 114.9 21% -10.7 British pound 22.4 19.9 4% -2.5 Japanese yen 13.8 14.0 3% 0.3 Other currencies
Slide 27: Consolidated Balance Sheets
Consolidated Balance Sheets June 30, December 31, June 30, 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 759,047 597,984 Current portion of long-term debt − 42,539
Slide 28: Consolidated Statements of Cash Flows (unaudited)
Consolidated Statements of Cash Flows (unaudited) Six months ended Six months ended June 30, June 30, June 30, June 30, (In $ thousands) 2021 2020 (In $ thousands) 2021 2020 Cash flows from operating activities: Cash flows from financing activities: Net income 250,274 129,593 Repayment of long-term
Slide 29: Employees as of June 30, 2021
Employees as of June 30, 2021 Europe / Asia Pacific / Total Total Americas Middle East / Africa Japan / ROW Q2 2021 Q2 2020 Change Production 435 1,217 153 1,805 1,270 42% R&D 219 670 50 939 880 7% Sales 574 865 801 2,240 2,127 5% Marketing 77 184 84 345 320 8% Administration 82 388 162 632 594 6% T
Slide 30: Your contacts
Your contacts John Gilardi Vice President Corporate Communications and IR Calendar Phone: +49 2103 29 11711 Q3 2021 results November 2021 +1 240 686 2222 Mobile: +49 152 018 11711 Q4 2021 results February 2022 E-mail: john.gilardi@qiagen.com Phoebe Loh Senior Director Share information Global Invest