Qiagen N.v. · NYSE:QGEN
Qiagen — Shareholder Meeting (June 2022)
54 slides from Qiagen's shareholder meeting presentation, Jun 23, 2022
Slide 1: 2022 Annual General Meeting
2022 Annual General Meeting Venlo, Netherlands June 23, 2022
Slide 2: Opening
1 Opening Lawrence A. Rosen Chair of the Supervisory Board June 23, 2022 Annual General Meeting 2
Slide 3: Managing Board Report for the year ended December 31, 2021
2 Managing Board Report for the year ended December 31, 2021 (“Calendar year 2021”) Thierry Bernard Chief Executive Officer Roland Sackers Chief Financial Officer June 23, 2022 Annual General Meeting 3
Slide 4: Managing Board Report - Strategy
Managing Board Report - Strategy Thierry Bernard Chief Executive Officer Annual General Meeting
Slide 5: Forward looking statements
Forward looking 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. Securities Act of
Slide 6: QIAGEN at a glance
QIAGEN at a glance Our products support scientists and clinicians to advance scientific discovery and improve patient outcomes A global company with scale Balanced customer markets $2.2 bn ~50% ~50% >500,000 (2021 sales) Molecular customers Life Diagnostics Sciences worldwide Diverse global presence
Slide 7: Strong global presence with focus on the most attractive markets
Our Life Molecular QIAGEN Sustainability Leadership Appendix Company Sciences Diagnostics Digital Insights Strong global presence with focus on the most attractive markets Aarhus Manchester Gdansk 14% of sales Wroclaw Distribution in 2021 from Venlo Hilden partners top emerging Paris in >60 markets
Slide 8: Focus on areas to build and maintain leading positions
Focus on areas to build and maintain leading positions Expanding on solid leadership Early commercialization phases with strong growth potential Sample technologies QuantiFERON for QIAstat-Dx for NeuMoDx for Leading the way as key first step in immune response near-patient syndromic mid- to high-thr
Slide 9: Strategy to action
Strategy to action Where we play Our focus: Grow in a $11 billion Build our global Make meaningful Cross-fertilize novel market, especially our presence by “going investments in portfolio across Life Our strategy five pillars local” R&D Sciences and Molecular of growth Diagnostics Leverage our exper
Slide 10: Delivering on our promises: 2021 accomplishments
Delivering on our promises: 2021 accomplishments Empowered teams achieved our goals Sample technologies • 2021: +19% CER sales growth with >20% CER growth of non-COVID • QIAprep& for high-throughput COVID testing sales, Adj EPS $2.63 CER, free cash flow $449 million • EZ2 Connect instruments • Se
Slide 11: We are COVID relevant – but not COVID dependent
We are COVID relevant – but not COVID dependent >750 million COVID-19 tests in 2021 relied on QIAGEN products Testing Surveillance • RNA sample preparation • Immune level testing • PCR testing solutions • NGS variant monitoring • OEM components • Wastewater testing for other suppliers June 23, 2022
Slide 12: Five pillars of growth: Expected trends in 2022 and beyond
Five pillars of growth: Expected trends in 2022 and beyond 2021 Cumulative 2022 sales goals placements sales goals Mid-term goals (CER) (As of Jan 2022) (CER) QIAsymphony >3,000 Sustainable low- to mid- Sample technologies >$750 m QIAcube >13,000 >$750 m EZ1 and EZ2 >4,800 single-digit CER growth Su
Slide 13: Q1 2022: Strong start to the year
Q1 2022: Strong start to the year High-performing Expanding Dynamic operating 2022 outlook updated core business portfolio value cash flow for strong Q1 Q1 2022 Record instrument placements Operating cash flow +61% Sales: >$2.12 billion CER accelerate installed base to $207 million while Sales : +15
Slide 14: 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 15: 2021 ESG goals met or exceeded
2021 ESG goals met or exceeded: Inspired to build a better future Reducing Fostering Improving Advancing environmental diversity and access to sustainability impact inclusion healthcare at QIAGEN 9.6% 34% > 100m ESG Plastic footprint Women in Women Dedicated reduction leadership screened for leaders
Slide 16: Ambitious goals for 2022: Our ESG journey continues
Ambitious goals for 2022: Our ESG journey continues Environmental 42% reduction in scope 1 & 2 emissions (1.5-degree climate target) 9% reduction of plastic transport packaging by based on 2021 baseline Social Lowest global pricing for Low- and middle-income countries 35% women in leadership positio
Slide 17: Summary
Summary 01 01 Leadership team delivering on commitments and developing EMPOWER culture 02 Focusing on driving growth in non-COVID product groups while fully supporting volatile COVID-19 testing trends 03 Compelling investment case combining highly recurring revenues, broad customer base and geograph
Slide 18: Managing Board Report - Finance
Managing Board Report - Finance Roland Sackers Chief Financial Officer Annual General Meeting
Slide 19: Forward looking statements
Forward looking 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. Securities Act of
Slide 20: 2021: Overview (U.S. GAAP)
2021: Overview (U.S. GAAP) 1 Exceeded full-year 2021 sales and adjusted diluted EPS outlook Net sales Adjusted EPS(1) (In $ millions, at actual rates) (In $ per share) • Full-year 2021: Net sales grow 20% (+19% CER) to $2.25 billion and adjusted diluted EPS rises 23% to $2.65 ($2.63 CER) +22% CER +1
Slide 21: 2021: Financial review (U.S. GAAP)
2021: Financial review (U.S. GAAP) In $ millions (Except EPS and diluted shares) 2021 2020 Change Net sales 2,252 1,870 20% Net sales - CER 2,222 19% Operating income 630 386 63% Adjusted operating income 755 627 20% Net income 513 359 43% Adjusted net income 614 503 22% Diluted EPS $2.21 $1.53 44%
Slide 22: Supporting growth while increasing returns to shareholders
Supporting growth while increasing returns to shareholders Healthy cash flow trends Invest in the business 700 [VALUE]x 1.8 Fuel sustainable and profitable [VALUE]x [VALUE]x [VALUE]x 1.6 growth, especially in the five pillars 600 [VALUE]x 1.4 500 639 1.2 Enhance value with M&A 400 1.0 Ongoing discip
Slide 23: 2021: Sales by product group
2021: Sales by product group (In $ millions at actual rates / FY 2021 change in actual, CER rates) Sales % change % CER % of sales Sample technologies 851 6% 4% 38% Diagnostic solutions(1) 639 39% 37% 28% Of which QuantiFERON 281 48% 47% 12% Of which QIAstat-Dx 75 39% 38% 3% Of which NeuMoDx 105 94%
Slide 24: 2021: Sales by non-COVID and COVID-19 product groups
2021: Sales by non-COVID and COVID-19 product groups (In $ millions at actual rates / FY 2021 change in actual, CER rates) Sales % change % CER % of sales Non-COVID product groups 1,547 24% 22% 69% COVID-19 product groups 704 14% 13% 31% Total 2,252 20% 19% Tables may contain rounding differences. |
Slide 25: 2021: Sales by product type, customer class and region
2021: Sales by product type, customer class and region (In $ millions at actual rates / FY 2021 change in actual, CER rates) Sales % change % CER % of sales Product type Consumables and related revenues 1,986 23% 21% 88% Instruments 265 4% 2% 12% Customer class Molecular Diagnostics 1,144 27% 25% 51
Slide 26: 2021: Reconciliation adjusted results (U.S. GAAP)
2021: Reconciliation adjusted results (U.S. GAAP) (In $ millions, except EPS) Net Gross Operating Pretax Income Tax Net Diluted sales profit income income tax rate income EPS Full-year 2021 Reported results 2,251.7 1,450.8 630.1 625.8 (113.2) 18% 512.6 2.21 Adjustments Business integration, acquisit
Slide 27: 2021: Review of U.S. GAAP and IFRS results
2021: Review of U.S. GAAP and IFRS results Consolidated Income Statements for the year ended December 31, 2021 In $ millions U.S. GAAP IFRS Difference (Except per share data) 2021 2021 (U.S. GAAP vs. IFRS) Net sales 2,251.7 2,251.7 Gross profit 1,450.8 1,446.5 (4.3) Income from operations 630.1 635.
Slide 28: Maintaining financial flexibility with appropriate leverage
Maintaining financial flexibility with appropriate leverage Structure as of December 31, 2021 Maturities of debt instruments $2.02 billion $1.06 billion (In $ millions) Cash and short-term U.S. Private Placement Schuldschein Convertible Bonds Convertible investments Bonds 117 2023 2024 635 2027 $957
Slide 29: Employees as of December 31, 2021
Employees as of December 31, 2021 Europe / Middle Asia Pacific / Total Total Americas East / Africa Japan / ROW Q4 2021 Q4 2020 Change Production 431 1,229 158 1,818 1,566 16% R&D 215 721 56 992 902 10% Sales 583 859 795 2,237 2,192 2% Marketing 77 189 85 351 330 6% Administration 78 391 161 630 620
Slide 30: 2021: QIAGEN joined the DAX
2021: QIAGEN joined the DAX Investor Relations activities The largest and most liquid • Institutional conferences: ~30 events German companies trading on the Frankfurt Exchange • Individual meetings: >150 meetings The largest German companies from the technology sector IR industry awards 2021 Best I
Slide 31: QIAGEN share price development – Frankfurt Stock Exchange
2021-2022 YTD: QIAGEN share price development – Frankfurt Stock Exchange (euros) June 17, 2022: EUR 41.39 30% 25% 20% 15% 10% 5% (2)% 0% (5%) (10%) (12)% (15%) Jän Mär Jun Sep Dez Mär Jun Qiagen (Frankfurt) TecDax January 1, 2021 – June 17, 2022 June 23, 2022 Annual General Meeting 31
Slide 32: QIAGEN share price development – NYSE
2021-2022 YTD: QIAGEN share price development – NYSE (U.S. dollars) 20% June 17, 2022: $43.69 15% 10% 5% 0% (5%) (10%) (15%) (17)% (20%) (25%) (26)% (30%) (35%) Jän Mär Jun Sep Dez Mär Jun Qiagen (NYSE) NASDAQ Biotech Index January 1, 2021 – June 17, 2022 June 23, 2022 Annual General Meeting 32
Slide 33: Summary
Summary 01 01 Exceeded 2021 outlook for net sales and adjusted EPS 02 Strong profitability throughout 2021 further reflects the strength of our business 03 Using strong cash flow trends to reinvest in business and increase returns 04 Disciplined capital allocation strategy to strengthen business and
Slide 34: Supervisory Board Report on the Company's Annual Accounts
3 Supervisory Board Report on the Company’s Annual Accounts (the “Annual Accounts”) for Calendar Year 2021 June 23, 2022 Annual General Meeting 34
Slide 35: Adoption of the Annual Accounts for Calendar Year 2021
4 Adoption of the Annual Accounts for Calendar Year 2021 (voting item) June 23, 2022 Annual General Meeting 35
Slide 36: Advisory Vote on the Remuneration Report 2021
5 Advisory Vote on the Remuneration Report 2021 (advisory voting item) June 23, 2022 Annual General Meeting 36
Slide 37: Reservation and dividend policy
6 Reservation and dividend policy June 23, 2022 Annual General Meeting 37
Slide 38: Discharge of Managing Directors from liability
7 Discharge from liability of the Managing Directors for the performance of their duties during Calendar Year 2021 (voting item) June 23, 2022 Annual General Meeting 38
Slide 39: Discharge of Supervisory Directors from liability
8 Discharge from liability of the Supervisory Directors for the performance of their duties during Calendar Year 2021 (voting item) June 23, 2022 Annual General Meeting 39
Slide 40: Appointment and reappointment of eight Supervisory Directors
9 Appointment and reappointment of the following eight Supervisory Directors of the Company for a term running up to and including the date of the Annual General Meeting in 2023 (voting items): a. Dr. Metin Colpan b. Mr. Thomas Ebeling c. Dr. Toralf Haag d. Prof. Dr. Ross L. Levine e. Prof. Dr. Elai
Slide 41: Supervisory Board
Supervisory Board New Supervisory Board member Mr. Lawrence A. Rosen nominee Chair Dr. Eva Pisa Dr. Metin Colpan Prof. Dr. Ross Levine • Experienced industry advisor in life sciences and molecular diagnostics Mr. Thomas Ebeling • Senior leadership at Roche Diagnostics International Prof. Dr. Elaine
Slide 42: Reappointment of two Managing Directors
10 Reappointment of the following two Managing Directors of the Company for a term running up to and including the date of the Annual General Meeting in 2023 (voting items): a. Thierry Bernard b. Roland Sackers June 23, 2022 Annual General Meeting 42
Slide 43: Managing Board
Managing Board Thierry Bernard Roland Sackers Chief Executive Officer Chief Financial Officer June 23, 2022 Annual General Meeting 43
Slide 44: Reappointment of KPMG Accountants N.V. as auditors
11 Reappointment of KPMG Accountants N.V. as auditors of the Company for the calendar year ending December 31, 2022 (voting item) June 23, 2022 Annual General Meeting 44
Slide 45: Authorization to issue shares and grant subscription rights
12a Authorization of the Supervisory Board, until December 23, 2023, to issue a number of ordinary shares and financing preference shares and grant rights to subscribe for such shares, the aggregate par value of which shall be equal to the aggregate par value of fifty percent (50%) of shares issued
Slide 46: Authorization to restrict or exclude pre-emptive rights
12b Authorization of the Supervisory Board, until December 23, 2023, to restrict or exclude the pre-emptive rights with respect to issuing ordinary shares or granting subscription rights, the aggregate par value of such shares or subscription rights shall be up to a maximum of 10% of the aggregate p
Slide 47: Authorization to acquire shares in own share capital
13 Authorization of the Managing Board, until December 23, 2023, to acquire shares in the Company's own share capital (voting item) June 23, 2022 Annual General Meeting 47
Slide 48: Discretionary rights for synthetic share repurchase
14 Discretionary rights for the Managing Board to implement a capital repayment by means of a synthetic share repurchase (voting item) June 23, 2022 Annual General Meeting 48
Slide 49: Synthetic share repurchase: Summary
Synthetic share repurchase: Summary Proposal for shareholders to grant the Managing Board discretionary rights to implement a synthetic repurchase plan, subject to approval of the Supervisory Board • QIAGEN completed return of ~$250 million through procedure in 2016 / 2017 • Established Dutch proces
Slide 50: Synthetic share repurchase: Process overview
Synthetic share repurchase: Process overview 00 01 02 03 Capital repayment Share Premium Reserve Share Premium Reserve per share Share Premium Reserve Share Premium Reserve Par value per share Par value per share Par value per share Par value per share Current situation Increase par value Reverse st
Slide 51: Cancellation of fractional QIAGEN Shares held by the Company
15 Cancellation of fractional QIAGEN Shares held by the Company (voting item) June 23, 2022 Annual General Meeting 51
Slide 52: Questions
16 Questions June 23, 2022 Annual General Meeting 52
Slide 53: Closing
17 Closing June 23, 2022 Annual General Meeting 53
Slide 54: Thank you
Thank you June 23, 2022 Annual General Meeting 54