Qiagen N.v. · NYSE:QGEN
Qiagen — Q1 2022 Earnings Presentation
29 slides from Qiagen's earnings presentation, Apr 26, 2022
Slide 1: Q1 2022 results
Q1 2022 results Exceeded outlook with strong performance across non-COVID and COVID product groups
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: Q1 2022: Strong focus on delivering and exceeding targets
Q1 2022: Strong focus on delivering and exceeding targets Net sales (CER) Q1 2022: +15% vs. ≥ 7% outlook +14% non-COVID products +18% COVID products Adjusted EPS (CER) Q1 2022: $0.83 vs. ≥ $0.72 outlook CER - Constant Exchange Rates. Refer to appendix for reconciliation of reported to adjusted figur
Slide 4: Q1 2022: Execution of strategy driving sustainable growth
Q1 2022: Execution of strategy driving sustainable growth High-performing Expanding Dynamic operating 2022 outlook updated core business portfolio value cash flow for strong Q1 +14% CER growth in Record Q1 2022 instruments Operating cash flow +61% Sales: >$2.12 billion CER non-COVID product placemen
Slide 5: Q1 2022: Solid non-COVID sales in all product groups
Q1 2022: Solid non-COVID sales in all product groups Non-COVID / COVID split By product group (In $ millions at actual rates) (In $ millions at actual rates) +15% CER +15% CER $628 $628 $567 $567 265 Sample +22% CER technologies 400 Non-COVID 227 product groups 364 +14% CER Diagnostic +21% CER 174 s
Slide 6: Q1 2022: EMEA and APAC leading sales growth
Q1 2022: EMEA and APAC leading sales growth Americas • U.S. and Brazil delivered single-digit CER growth Europe / Middle East / Africa • Germany, Spain and Netherlands: Solid double-digit CER gains EMEA APAC / Japan • UK: Single-digit growth Americas $253 m $249 m $126 m 40% of sales 40% of sales 20
Slide 7: Q1 2022: Strong profitability and free cash flow
Q1 2022: Strong profitability and free cash flow Adj. operating income Adj. EPS Operating cash flow (In $ millions) (In $ per share) (In $ millions) Targeted investments into key drivers ~65% of R&D spending focused on five pillars of growth $207 29 $232 Disciplined cost base $195 $0.80 Lower operat
Slide 8: Five pillars: QIAcuity digital PCR continuing to expand applications
Five pillars: QIAcuity digital PCR continuing to expand applications QIAcuity dPCR differentiation Easier Fully automated workflow in one compact instrument Faster Over twice as fast as droplet digital PCR; results in under 2 hours More versatile Scalable throughput and higher multiplexing capabilit
Slide 9: Five pillars: QIAstat-Dx menu driving installed base expansion
Five pillars: QIAstat-Dx menu driving installed base expansion Customer highlight Lancet Laboratories in Johannesburg, South Africa QIAstat-Dx allows them to handle more samples locally and immediately without batching or sending them to the main Johannesburg lab • First lab to detect Omicron COVID-
Slide 10: Core portfolios: Genomics - adding value to NGS solutions through key partnerships
Core portfolios: Genomics - adding value to NGS solutions through key partnerships New partnerships 2022 milestone >2.5 million clinical cases analyzed and interpreted using QIAGEN Digital Insights Validation of QIAGEN products Two-year licensing agreement on the Element AVITI Sequencer for QIAGEN D
Slide 11: Outlook: Q2 and FY 2022
Outlook: Q2 and FY 2022 Q2 2022 outlook FY 2022 outlook > $510 million CER ≥ $2.12 billion CER Net sales Adverse FX impact of ~ -4-5 p.p Adverse FX impact of ~ -4 p.p. Anticipated currency impact (Prior year: $567.2 m) (Prior year: $2,251.7 m) Non-COVID product groups Double-digit CER growth ≥ $0.46
Slide 12: Appendix
Appendix
Slide 13: Q2 and FY 2022: Outlook and assumptions
Q2 and FY 2022: Outlook and assumptions (As of April 26, 2022) Q2 2022 outlook FY 2022 outlook ≥ $510 million CER ≥ $2.12 billion CER Net sales (Prior year: $567.2 m) (Prior year: $2,251.7 m) Anticipated currency impact(1) Adverse impact of ~ -4-5 p.p. Adverse impact of ~ -4 p.p. > $0.46 CER > $2.14
Slide 14: Q1 2022: Consolidated Statements of Income (unaudited)
Q1 2022: Consolidated Statements of Income (unaudited) Three months ended Three months ended (In $ thousands, except share data) March 31, 2022 March 31, 2021 Net sales 628,391 567,206 Cost of sales: Cost of sales 198,118 178,974 Acquisition-related intangible amortization 15,303 17,641 Total cost o
Slide 15: 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% Diagnostic solutions(1) 174 16% 21% Of which QuantiF
Slide 16: 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 17: 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% COVID-19 product groups 229 13% 1
Slide 18: 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 19: 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% revenues
Slide 20: 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 21: Q1 2022: Reconciliation adjusted results (unaudited)
Q1 2022: Reconciliation adjusted results (unaudited) Net Gross Operating Pretax Income Tax Net Diluted (In $ millions, except EPS) sales profit income income tax rate income EPS First quarter 2022 Reported results 628.4 415.0 207.1 195.5 (40.2) 21% 155.3 0.67 Adjustments Business integration, acquis
Slide 22: Q1 2022: Footnotes for reconciliation adjusted results (unaudited)
Q1 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. b) The decrease reflects the full amortization dur
Slide 23: 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 Net sales (CER) 654.1 Gross profit 415.0 Gross profit margin 66.0% Adjusted gross profit 430.9 Adjusted gross profit margin 68
Slide 24: 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 25: Consolidated Balance Sheets
Consolidated Balance Sheets March 31, December 31, March 31, 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 770,515 880,516 Current portion of long-term debt 468,79
Slide 26: Consolidated Statements of Cash Flows (unaudited)
Consolidated Statements of Cash Flows (unaudited) Three months ended March 31, March 31, Three months ended March 31, March 31, (In $ thousands) 2022 2021 (In $ thousands) 2022 2021 Cash flows from operating activities: Cash flows from financing activities: Net income 155,312 129,223 Repayment of lo
Slide 27: Q1 2022: Currency impact
Q1 2022: Currency impact Net sales Net sales Currency exposure Change (In $ millions / Actual) (CER) (As % of CER sales) (In $ millions) Q1 2022 0 U.S. dollar 286.2 286.2 44% 0.0 Euro 166.4 178.7 27% 12.3 British pound 22.8 23.4 4% 0.6 Japanese yen 17.5 19.1 3% 1.7 Other currencies 135.5 146.7 22% 1
Slide 28: Employees as of March 31, 2022
Employees as of March 31, 2022 Europe / Middle Asia Pacific / Total Total Americas East / Africa Japan / ROW Q1 2022 Q4 2021 Change Production 416 1,241 155 1,812 1,818 0% R&D 211 731 55 997 992 1% Sales 578 864 812 2,254 2,237 1% Marketing 77 191 68 336 351 -4% Administration 79 393 159 631 630 0%
Slide 29: Your contacts
Your contacts Phoebe Loh Senior Director Calendar Global Investor Relations Annual General Meeting June 2022 Phone: +49 2103 29 11457 Mobile: +49 152 018 11457 Q2 2022 results July 2022 E-mail: phoebe.loh@qiagen.com Q3 2022 results November 2022 Alexandra Koenig Share information Coordinator Investo