Qiagen N.v. · NYSE:QGEN
Qiagen — Q3 2022 Earnings Presentation
33 slides from Qiagen's earnings presentation, Nov 8, 2022
Slide 1: Q3 2022 results
Q3 2022 results Exceeded outlook with 18% CER sales growth in non-COVID portfolio
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: Q3 2022: Double-digit CER growth in non-COVID portfolio
Q3 2022: Double-digit CER growth in non-COVID portfolio Net sales (CER)(1) Q3 2022: $533 million vs. ≥ $510 million outlook + 18% non-COVID products - 43% COVID-19 products Adjusted EPS (CER)(2) Q3 2022: $0.55 CER vs. ≥ $0.48 CER outlook 1) Net sales: $500 million, -7% at actual rates, 0% at CER vs.
Slide 4: Q3 2022: Solid performance with clear strategy execution
Q3 2022: Solid performance with clear strategy execution Ongoing strong trends Executing on key Strong operating Increasing 2022 in non-COVID business 2022 objectives cash flow full-year outlook +18% CER growth in 13 new biopharma assays +34% rise to $591 million in Sales: ~ $2.25 billion CER non-CO
Slide 5: Q3 2022: +18% CER growth in non-COVID product groups
Q3 2022: +18% CER growth in non-COVID product groups Non-COVID / COVID split By product group (In $ millions at actual rates) (In $ millions at actual rates) -7% -7% (0% CER) (0% CER) $535 $535 $500 $500 Sample - 2% CER Non-COVID 202 technologies product groups 183 376 + 18% CER 417 Diagnostic + 4%
Slide 6: Q3 2022: Solid demand for non-COVID products
Q3 2022: Solid demand for non-COVID products Americas • US: +7% CER non-COVID growth absorbed lower COVID sales • Brazil: Double-digit CER gains • Canada: Single-digit CER growth Europe / Middle East / Africa Americas EMEA Asia-Pacific / • Germany, Austria and Netherlands: Japan Strong double-digit
Slide 7: Q3 2022: Maintaining strong cash flow and healthy balance sheet
Q3 2022: Maintaining strong cash flow and healthy balance sheet Operating cash flow Free cash flow Leverage (In $ millions) (In $ millions) (Net debt / adj. EBITDA) Targeted investments into Five Pillars + 40% + 34% High level of R&D investments into menu expansion for QIAstat-Dx, NeuMoDx and 591 $5
Slide 8: QIAstat-Dx: Viral vesicular panel to address monkeypox detection
QIAstat-Dx: Viral vesicular panel to address monkeypox detection RUO panel for research and epidemiological surveillance Pathogens differentiated by the QIAstat-Dx Viral Vesicular Panel Monkeypox virus (MPXV) clade 1 MPXV clade 2 Herpes simplex virus 1 Human herpes virus 6 Herpes simplex virus 2 Ent
Slide 9: NeuMoDx: Expanding CE-IVD menu to 16 tests
NeuMoDx: Expanding CE-IVD menu to 16 tests CE-IVD Hepatitis B Blood-borne viruses Hepatitis C Human Immunodeficiency Virus Cytomegalovirus Epstein Barr Virus 2.0 BK Virus Transplant Herpes Simplex Virus 1/2 Adenovirus Human Herpes Virus 6 Chlamydia / Gonorrhea Guillain–Barré syndrome Woman’s health
Slide 10: QIAcuity: Capturing attractive biopharma growth opportunities
QIAcuity: Capturing attractive biopharma growth opportunities 13 new kits and and custom assays to serve Biopharma customers Biopharma customer preference: QIAcuity Eight • 10 QIAcuity Cell and Gene Therapy (CGT) dPCR Assays • 3 QIAcuity Residual DNA Quantification Kits • Custom assay design provide
Slide 11: Leveraging a comprehensive Liquid Biopsy portfolio
Leveraging a comprehensive Liquid Biopsy portfolio Addressing opportunities in research and clinical applications to unlock insights from blood Liquid Non-Invasive Cancer Growing Transplant Biopsy Prenatal research and monitoring market trends applications Testing (NIPT) oncology • Expansion of cfDN
Slide 12: Committed to building a sustainable business
Committed to building a sustainable business QIAGEN 2021 Sustainability Report Published in August 2022 https://www.qiagen.com/sustainability Environment Social Governance Visible progress in lowering Committed to leaving Ensuring responsible business greenhouse gas intensity no one behind conduct f
Slide 13: Outlook: Q4 and FY 2022
Outlook: Q4 and FY 2022 Q4 2022 outlook Updated FY 2022 outlook ~ $2.25 billion CER Net sales > $520 million CER Adverse FX impact of ~ -6 p.p. Anticipated currency impact Adverse FX impact of ~ -7 p.p (Previously: ≥ $2.2 bn CER) Non-COVID product groups Double-digit CER growth Double-digit CER grow
Slide 14: Key messages
Key messages Q3 2022: Solid results exceeded outlook, driven by 18% CER sales growth 01 in non-COVID portfolio FY 2022 outlook: Increased sales and adj. EPS due to Q3 performance, 02 reaffirming double-digit CER non-COVID sales growth 03 Making progress on advancing strategy focused on 5 Pillars of
Slide 15: Appendix
Appendix
Slide 16: Q4 and FY 2022: Outlook and assumptions
Q4 and FY 2022: Outlook and assumptions (As of November 7, 2022) Q4 2022 outlook Updated FY 2022 outlook ~ $2.25 billion CER Net sales > $520 million CER (Previously: ≥ $2.2 bn CER) Anticipated currency impact(1) Adverse impact of ~ -7 p.p. Adverse impact of ~ -6 p.p. ~ $2.40 CER Adjusted EPS(2) > $
Slide 17: Q3 2022: Consolidated Statements of Income (unaudited)
Q3 2022: Consolidated Statements of Income (unaudited) Three months ended Three months ended (In $ thousands, except share data) September 30, 2022 September 30, 2021 Net sales 499,631 534,745 Cost of sales: Cost of sales 163,511 181,214 Acquisition-related intangible amortization 15,069 16,314 Tota
Slide 18: 9M 2022: Consolidated Statements of Income (unaudited)
9M 2022: Consolidated Statements of Income (unaudited) Nine months ended Nine months ended (In $ thousands, except share data) September 30, 2022 September 30, 2021 Net sales 1,643,534 1,669,259 Cost of sales: Cost of sales 531,010 540,576 Acquisition-related intangible amortization 45,485 51,687 To
Slide 19: 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 9M 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% 178 -12% -7% 183 -10% -2% 626 -1% 5% Diagnostic solu
Slide 20: 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 21: 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 9M 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% 423 4% 10% 417 11% 18% 1,240 8% 1
Slide 22: 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 23: 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 9M 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% 453 -9% -
Slide 24: 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 25: Q3 and 9M 2022: Reconciliation adjusted results (unaudited)
Q3 and 9M 2022: Reconciliation adjusted results (unaudited) (In $ millions, except EPS) Net Gross Operating Pretax Income Tax Net Diluted sales profit income income tax rate income EPS Third quarter 2022 Reported results 499.6 321.1 97.7 95.7 (13.3) 14% 82.4 0.36 Adjustments Business integration, ac
Slide 26: Q3 and 9M 2022: Footnotes for reconciliation adjusted results
Q3 and 9M 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, Ukraine and Belarus. Additionally, these co
Slide 27: 2022: Quarterly income statement summary
2022: Quarterly income statement summary (In $ millions, unless indicated) (Diluted EPS in $ per share) Q1 2022 Q2 2022 Q3 2022 Q4 2022 9M 2022 Net sales 628.4 515.5 499.6 1,643.5 Net sales (CER) 654.1 543.8 533.5 1,731.3 Gross profit 415.0 331.0 321.1 1,067.0 Gross profit margin 66.0% 64.2% 64.3% 6
Slide 28: 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 29: Consolidated Balance Sheets
Consolidated Balance Sheets September 30, December 31, September 30, 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 1,271,597 880,516 Current portion of long-term d
Slide 30: Consolidated Statements of Cash Flows (unaudited)
Consolidated Statements of Cash Flows (unaudited) Nine months ended September 30, September 30, Nine months ended September 30, September 30, (In $ thousands) 2022 2021 (In $ thousands) 2022 2021 Cash flows from operating activities: Cash flows from financing activities: Net income 334,367 383,413 P
Slide 31: Q3 and 9M 2022: Currency impact
Q3 and 9M 2022: Currency impact Net sales Net sales Currency exposure Change (In $ millions / Actual) (CER) (As % of CER sales) (In $ millions) Q3 2022 0 U.S. dollar 274.2 274.2 51% 0.0 Euro 102.5 119.9 22% 17.4 British pound 10.5 12.1 2% 1.6 Japanese yen 12.9 16.2 3% 3.3 Other currencies 99.5 111.0
Slide 32: Employees as of September 30, 2022
Employees as of September 30, 2022 Europe / Middle Asia Pacific / Total Total Americas East / Africa Japan / ROW Q3 2022 Q2 2022 Change Production 424 1,277 150 1,851 1,845 0% R&D 214 767 59 1,040 1,036 0% Sales 605 894 816 2,315 2,294 1% Marketing 73 210 75 358 344 4% Administration 78 417 165 660
Slide 33: Your contacts
Your contacts Phoebe Loh Senior Director Calendar Global Investor Relations Q4 / FY 2022 results February 2023 Phone: +49 2103 29 11457 Mobile: +49 152 018 11457 Q1 2023 results May 2023 E-mail: phoebe.loh@qiagen.com Annual General Meeting June 2023 Alexandra Koenig Share information Coordinator Inv