Qiagen N.v. · NYSE:QGEN
Qiagen — Q1 2024 Earnings Presentation
24 slides from Qiagen's earnings presentation, Apr 30, 2024
Slide 1: Q1 2024 results
Q1 2024 results On track to achieve 2024 goals April 29, 2024
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 2024: On track to achieve 2024 goals
Q1 2024: On track to achieve 2024 goals Growth Q1 2024 sales and adj. EPS ahead of outlook • Double-digit CER growth for QuantiFERON, QIAstat-Dx and QIAcuity • Diagnostics leads with +5% CER growth Value Improved adj. operating income margin despite lower sales • Q1 2024 adj. operating margin at 25.
Slide 4: Net sales and adjusted EPS ahead of outlook
Q1 2024: Net sales and adjusted EPS ahead of outlook Full-year 2024 outlook reaffirmed Q1 2024 Q1 2024 results outlook Net sales1 $462 m CER ≥$455 m CER ≥$2.0 bn Net CER sales Adjusted diluted EPS(1) $0.47 CER ≥$0.44 CER ≥$2.10 Adj. diluted CER EPS CER – Constant exchange rates 1) Q1: Net sales $459
Slide 5: Sales performance and key developments
Q1 2024: Sales performance and key developments Sales by product group Key developments (In $ millions at actual rates) -5% 485 (-5% CER) 459 Sample • Growth in automated consumables kits and placements technologies • Low-single-digit CER sales decline for non-COVID products Sample 173 155 technolog
Slide 6: QuantiFERON: Proven leadership in fight against deadly TB
QuantiFERON: Proven leadership in fight against deadly TB Majority of latent TB market still to convert Tuberculin skin test vs. QuantiFERON (IGRA) Tuberculin QuantiFERON skin test TB blood test ~70-80 million tests / year Complete workflow Number of automation annual tests ~3-4% annual growth High
Slide 7: QuantiFERON: Modern gold standard for latent TB detection
QuantiFERON: Modern gold standard for latent TB detection QuantiFERON TB has leading profile among IGRA tests Why QuantiFERON for TB detection QuantiFERON-TB Gold Plus Efficient Globally adopted Workflow automation Complete automation Complete workflow >100 million patients tested automation for tes
Slide 8: New product developments
Q1 2024: New product developments QIAcuity: QIAstat-Dx: Gain valuable Enhancing patient care insights into cancer QIAstat-Dx Analyzer 2.0 • New cloud architecture to enable remote access QIAcuity PanCancer • Streamlined connectivity between labs and healthcare panels professionals • Detect simultane
Slide 9: Liquid biopsy and QIAcuity: Enabling better lung cancer research
Liquid biopsy and QIAcuity: Enabling better lung cancer research “Not only does digital PCR provide the sensitivity we need, it also enables decentralized testing to serve the widest patient communities and advance our fight against the deadliest cancer.” Dr. Ratislav Horos, D.V.M, Ph.D. Chief Techn
Slide 10: Solid start for operating profitability
Q1 2024: Solid start for operating profitability Adj. operating income margin Adj. EPS ahead of Q1 2024 outlook +0.1 pp Adj. SG&A improvements vs. Q1 2023 operating while continuing R&D investments 25.7% income 25.6% Non- 20% adj. tax rate at high end of outlook operating income Adj. EPS (1) $0.47 C
Slide 11: Strong cash generation
Q1 2024: Strong cash generation Maturities of debt instruments (in $ millions / As of December 31, 2023) Free cash In $ millions Q1 2023 Q1 2024 605 617 flow(1) Operating cash flow 72 133 105 117 As % of sales 15% 29% Purchases of PP&E 33 37 As % of sales 7% 8% Free cash flow 39 97 500 500 154 Lever
Slide 12: 2024: Reaffirming full-year outlook
2024: Reaffirming full-year outlook Q2 2024 outlook FY 2024 outlook Invitation to Capital Markets Day 2024 Net sales >$495 million CER >$2.0 billion CER Anticipated currency impact Neutral FX impact Neutral FX impact Date: Monday, June 17, 2024 Adjusted diluted EPS >$0.52 CER >$2.10 CER Anticipated
Slide 13: Appendix
Appendix
Slide 14: Q2 and FY 2024: Outlook and assumptions
Q2 and FY 2024: Outlook and assumptions (As of April 26, 2024) Q2 2024 outlook FY 2024 outlook Net sales >$495 million CER >$2 billion CER Anticipated currency impact(1) Neutral FX impact Neutral FX impact Adjusted diluted EPS(2) >$0.52 CER >$2.10 CER Anticipated currency impact(1) Adverse impact of
Slide 15: Consolidated Statements of Income (unaudited)
Q1 2024: Consolidated Statements of Income (unaudited) (In $ thousands, except share data) Three months ended Three months ended March 31, 2024 March 31, 2023 Net sales 458,796 485,398 Cost of sales: Cost of sales 151,734 161,906 Acquisition-related intangible amortization 16,073 16,016 Total cost o
Slide 16: 2024: Quarterly sales by product group
2024: Quarterly sales by product group Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 (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 155 -11% -10% Diagnostic solutions(1) 170 5% 5% Of which QuantiF
Slide 17: 2024: Quarterly sales by product type, customer class and region
2024: Quarterly sales by product type, customer class and region Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 (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 Product type Consumables and related 409 -5% -4% revenues
Slide 18: Reconciliation to adjusted results (unaudited)
Q1 2024: Reconciliation to adjusted results (unaudited) (In $ millions, except EPS) Net Gross Operating Pre-tax Income Tax Net Diluted sales profit income income tax rate income EPS* First quarter 2024 Reported results 458.8 291.0 94.9 102.3 (21.6) 21 % 80.7 0.36 Adjustments Business integration, ac
Slide 19: Footnotes for reconciliation to adjusted results (unaudited)
Q1 2024: Footnotes for reconciliation to adjusted results (unaudited) a. Results for 2024 include costs for acquisition projects, including continued integration activities at Verogen Inc. Results for 2023 include acquisition projects including continued integration activities at BLIRT S.A. and the
Slide 20: 2024: Quarterly income statement summary
2024: Quarterly income statement summary (In $ millions, unless indicated) (Diluted EPS in $ per share) Q1 2024 Q2 2024 Q3 2024 Q4 2024 FY 2024 Net sales 458.8 Net sales (CER) 461.7 Gross profit 291.0 Gross profit margin 63.4% Adjusted gross profit 307.8 Adjusted gross profit margin 67.1% Operating
Slide 21: Consolidated Balance Sheets
Consolidated Balance Sheets March 31, December 31, March 31, December 31, (In $ thousands, except par value) 2024 2023 (In $ thousands, except par value) 2024 2023 Assets (unaudited) Liabilities and Equity (unaudited) Cash and cash equivalents 513,670 668,084 Current portion of long-term debt 590,52
Slide 22: 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) 2024 2023 (In $ thousands) 2024 2023 Cash flows from operating activities: Cash flows from financing activities: Net income 80,673 85,035 Capital repayment
Slide 23: Currency impact
Q1 2024: Currency impact Net sales Net sales Currency exposure Change (In $ millions / Actual) (CER) (As % of CER sales) (In $ millions) Q1 2024 U.S. dollar 249.2 249.2 54% 0.0 Euro 88.7 87.6 19% -1.1 British pound 18.8 18.0 4% -0.8 Japanese yen 12.1 13.6 3% 1.5 Other currencies 90.0 93.3 20% 3.4 To
Slide 24: Your contacts
Your contacts Dr. Domenica Martorana Associate Director Calendar Global Investor Relations Analyst and Investor Day Phone: +49 2103 29 11244 June 17, 2024 (New York) E-mail: domenica.martorana@qiagen.com Annual General Meeting June 21, 2024 Phoebe Loh Q2 2024 results July 2024 Senior Director Global