Qiagen N.v. · NYSE:QGEN
Qiagen — Q4 2019 Earnings Presentation
25 slides from Qiagen's earnings presentation, Feb 5, 2020
Slide 1: Fourth quarter and full year 2019 results
Hannah Asha Palat Wardill, and Brandon University Mistretta, Medical University Center Groningen, of Houston Netherlands in Texas Fourth quarter and full year 2019 results February 5, 2020 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 differentiate and protect our products from competitors' products; market acceptance of statements. All statements other than statements of historical fact are, or may be
Slide 3: Agenda
Agenda Introduction John Gilardi VP Corporate Communications and IR Business and financial update Thierry Bernard Interim CEO Roland Sackers CFO Q&A session Hannah Wardill, University Medical Center Groningen Netherlands Sample to Insight Q4 2019 results 3
Slide 4: Q4 and full-year 2019: Summary
Q4 and full-year 2019: Summary 1 Q4 2019 results exceed outlook Q4 and FY net sales Q4 and FY adjusted EPS(1) • $413.5 million net sales (+3% actual, +4% CER vs. ~+3% CER outlook) (In $ millions, at actual rates) (In $ per share) +9% CER • Diluted EPS $0.19; adjusted EPS $0.48 ($0.48 CER vs. ~$0.45-
Slide 5: Q4 and full-year 2019: Financial review
Q4 and full-year 2019: Financial review Fourth quarter Full year (In $ millions, unless indicated) (Diluted EPS in $ per share) 2019 2018 Change 2019 2018 Change Net sales(1) 413.5 403.2 3% / 4% CER 1,526.4 1,501.8 2% / 4% CER Operating income (loss) 80.0 88.3 -9% (26.1) 266.6 NM Adjusted operating
Slide 6: Q4 and full-year 2019: Sales by product type, customer class and region
Q4 and full-year 2019: Sales by product type, customer class and region Q4 2019 net sales: $413.5 million FY 2019 net sales: $1.526 billion Sales % % CER % Sales % % CER % Sales by product type (In $ m) change change of sales (In $ m) change change of sales Consumables and related revenues $364 6% 7
Slide 7: Q4 2019: Sample to Insight portfolio update
Q4 2019: Sample to Insight portfolio update Partnerships Portfolio expansion Instrument milestones FDA approval of QIAstat-Dx approaching Launch of novel QIAseq 1,000 cumulative global QuantiFERON-TB Gold Plus panels for DNA and RNA latent TB test on placements sequencing DiaSorin LIAISON systems Co
Slide 8: Full-year 2020: Launching new digital PCR technology to build on Life Sciences leadership
Full-year 2020: Launching new digital PCR technology to build on Life Sciences leadership QIAcuity: Differentiated new scalable digital PCR platforms QIAGEN digital • On track for mid-2020 launch PCR technology • Cost-effective technology allows conversion of any lab to dPCR addressing • Pre-launch
Slide 9: Full-year 2020: Driving global expansion of QIAGEN solutions in Molecular Diagnostics
Full-year 2020: Driving global expansion of QIAGEN solutions in Molecular Diagnostics QIAstat-Dx: Additional CE-IVD and FDA approved tests QuantiFERON-TB Access (QFT-Access) • Gastrointestinal panel submitted to FDA in late Q4 2019 • Expanding modern TB testing to low-resource, high-burden areas ◦ C
Slide 10: Q1 and full-year 2020: Outlook and assumptions
Q1 and full-year 2020: Outlook and assumptions (As of February 4, 2020) Q1 2020 outlook FY 2020 outlook ~+2-3% CER ~+3-4% CER Net sales (Prior year: $348.7 m) (Prior year: $1,526 m) ~$0.28-0.29 CER ~$1.52-1.54CER Adjusted EPS(1) (Prior year: $0.27) (Prior year: $1.43) Adjustments to operating income
Slide 11: Summary
Summary • Exceeded Q4 and full-year 2019 sales outlook, and exceeded adjusted EPS +9% CER in full-year 2019 • Improved profitability through NGS portfolio decisions and efficiency measures • Commitment to disciplined capital deployment • Taking a balanced approach to 2020 sales opportunities and ris
Slide 12: Appendix
George Mason University in Fairfax, Virginia Appendix Sample to Insight
Slide 13: Significant progress on profitability towards value creation
Significant progress on profitability towards value creation 2015-2019: Adjusted diluted EPS trends in $ per share $1.43 ($1.46 CER) 1.34 1.27 1.06 1.11 2015 2016 2017 2018 2019 Sample to Insight Q4 2019 results 13
Slide 14: Q4 2019: Consolidated Statements of Income (unaudited)
Q4 2019: Consolidated Statements of Income (unaudited) Three months ended Three months ended (In $ thousands, except share data) December 31, 2019 December 31, 2018 Net sales 413,472 403,173 Cost of sales: Cost of sales 117,698 125,311 Acquisition-related intangible amortization 16,209 13,108 Total
Slide 15: FY 2019: Consolidated Statements of Income (unaudited)
FY 2019: Consolidated Statements of Income (unaudited) Twelve months ended Twelve months ended (In $ thousands, except share data) December 31, 2019 December 31, 2018 Net sales 1,526,424 1,501,848 Cost of sales: Cost of sales 449,651 444,165 Acquisition-related intangible amortization 71,511 56,723
Slide 16: Q4 and FY 2019: Reconciliation adjusted results
Q4 and FY 2019: Reconciliation adjusted results Operating Pretax Net Net Gross Income Tax Diluted In $ millions (Except EPS) Income income Income sales profit tax rate EPS(1) (Unaudited) (loss) (loss) (loss) Fourth quarter 2019 Reported results 413.5 279.6 80.0 68.9 (24.0) 35% 44.9 0.19 Adjustments
Slide 17: Q4 and FY 2019: Currency impact
Q4 and FY 2019: Currency impact Net sales Net sales Currency exposure Change (In $ millions) (CER) (As % of CER sales) (In $ millions) Fourth quarter 2019 U.S. dollar 184.8 184.8 44% 0.0 Euro 96.5 99.0 24% -2.5 British pound 16.1 16.0 4% 0.1 Japanese yen 13.7 13.2 3% 0.5 Other currencies 102.4 104.9
Slide 18: 2019: Quarterly and full-year income statement summary
2019: Quarterly and full-year income statement summary (In $ millions, unless indicated) (Diluted EPS in $ per share) Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 Net sales 348.7 381.6 382.7 413.5 1,526.4 Net sales (CER) 364.5 394.5 388.6 417.9 1,565.5 Gross profit 224.8 245.9 254.9 279.6 1,005.3 Gross p
Slide 19: 2018: Quarterly and full-year income statement summary
2018: Quarterly and full-year income statement summary (In $ millions, unless indicated) (Diluted EPS in $ per share) Q1 2018 Q2 2018 Q3 2018 Q4 2018 FY 2018 Net sales 343.6 377.2 377.9 403.2 1,501.8 Gross profit 225.7 253.8 256.8 264.8 1,001.0 Gross profit margin 66% 67% 68% 66% 67% Adjusted gross
Slide 20: 2019: Total net sales overview
2019: Total net sales overview Net sales by customer class (In $ millions at actual rates / Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 change in actual, CER rates) Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Sales Act. CER Molecular Diagnostics 168 4% 10% 188 1% 5% 183 -3% -2% 198 2% 3%
Slide 21: Consolidated Balance Sheets
Consolidated Balance Sheets December 31, December 31, December 31, December 31, (In $ thousands, except par value) 2019 2018 (In $ thousands, except par value) 2019 2018 Assets (unaudited) Liabilities and Equity (unaudited) Current assets: Current liabilities: Current portion of long-term debt 285,2
Slide 22: Consolidated Statements of Cash Flows (unaudited)
Consolidated Statements of Cash Flows (unaudited) Twelve months ended Twelve months ended December 31, December 31, December 31, December 31, (In $ thousands) 2019 2018 (In $ thousands) 2019 2018 Cash flows from operating activities: Cash flows from financing activities: Net (loss) income (41,455) 1
Slide 23: Employees as of December 31, 2019
Employees as of December 31, 2019 Europe / Asia Pacific / Total Total Americas Middle East / Africa Japan / ROW Q4 2019 Q4 2018 Change Production 252 777 135 1,164 1,067 9% R&D 188 718 47 953 1,056 -10% Sales 540 798 732 2,070 1,990 4% Marketing 69 161 79 309 308 0% Administration 83 366 151 600 531
Slide 24: Abbreviations
Abbreviations Adj Adjusted EBV Epstein-Barr virus JPY Japan Yen R&D Research & Development AIV Avian influenza virus EGFR Epidermal Growth Factor Receptor KRAS Kirsten rat Sarcoma Viral Oncogene RoW Rest of World ALK Anaplastic Lymphoma Kinase EGM Emerging Growth Markets Homolog RGQ Rotor-Gene Q AML
Slide 25: Your contacts
Your contacts John Gilardi Vice President Calendar Corporate Communications and IR Phone: +49 2103 29 11711 Q1 2020 results May 2020 +1 240 686 2222 Mobile: +49 152 018 11711 Annual General Meeting June 2020 E-mail: john.gilardi@qiagen.com Q2 2020 results July 2020 Phoebe Loh Share information Assoc