Post on 06-Jul-2020
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W W W . Q I A G E N . C O MSlide: 1
Dr. Michael Collasius
Vice President Instrumentation
CA Cheuvreux 4th German Corporate Conference
Kronberg, January 17, 2005
W W W . Q I A G E N . C O MSlide: 2
Certain of the statements contained in this presentation may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. To the extent that any of the statements contained herein relating to QIAGEN's products and markets and operating results are forward-looking, such statements are based on current expectations that involve a number of uncertainties and risks. Such uncertainties and risks include, but are not limited to, risks associated with management of growth and international operations (including the effects of currency fluctuations), variability of operating results, the commercial development of the DNA sequencing, genomics and synthetic nucleic acid-related markets, as well as the nucleic acid-based molecular diagnostics and genetic vaccination and gene therapy markets, competition, rapid or unexpected changes in technologies, fluctuations in demand for QIAGEN's products (including seasonal fluctuations), difficulties in successfully adapting QIAGEN’s products to integrated solutions and producing such products, the ability of QIAGEN to identify and develop new products and to differentiate its products from competitors, and the integration of acquisitions of technologies and businesses. For further information, refer to the discussion in reports that QIAGEN has filed with the U.S. Securities and Exchange Commission (SEC).
Forward Looking Statements
2
W W W . Q I A G E N . C O MSlide: 3
Our Mission
As the innovative market and technology leader, QIAGEN creates indispensable solutions that set standards in enabling access to content from any biological sample.
Our mission is to enable our customers to achieve outstanding success and breakthroughs in research, applied markets, drug development and molecular diagnostics. We thereby make improvements in life possible.
Our commitment to the markets we serve drives our innovation and leadership in all areas where solutions such as sample collection, stabilization, separation, purification, storage, handling and processing are required.
The exceptional talent, skill and passion of our employees are key to QIAGEN’s excellence, success and value.
We create indispensable solutionsthat enable access to content from any biological sample
W W W . Q I A G E N . C O MSlide: 4
Revenues: 2003: $ 351.4 million 96–03 CAGR: 31%Net income: 2003: $ 46.4* million 96–03 CAGR: 36%*EPS: 2003: $ 0.32* 96–03 CAGR: 35%*
Product range: Approx. 320 consumable productsInstrumentation for certain applications
IP: 321 issued patents, 252 pending patentsOver 500 patents under license
Customers: >400,000 customers inAcademiaIndustrial (Pharma/Biotech)Diagnostics
Employees: 1,350 people based in 15 subsidiaries* excluding restructuring and relocation costs as well as one-time charges related to the acquisition of GenoVision A.S.
QIAGEN at a Glance
3
W W W . Q I A G E N . C O MSlide: 5
Technology Leadership Sales Strength
CUSTOMER
ResearchPharma KAM
Clinical
MDX
Inside Sales
E-commerce
Forensic
QIAGEN Sets Standards for Pre-Analytical Solutions Intro
Growth Drivers
0
20.000
40.000
60.000
80.000
100.000
120.000
140.000
160.000
180.000
200.000
220.000
240.000
260.000
280.000
1993 1994 1995 1996 1997 1998 1999 2000 2001
Financials
W W W . Q I A G E N . C O MSlide: 6
Sales Strength
CUSTOMER
ResearchPharma KAM
Clinical
MDX
Inside Sales
E-commerce
Forensic
Growth Drivers
0
20.000
40.000
60.000
80.000
100.000
120.000
140.000
160.000
180.000
200.000
220.000
240.000
260.000
280.000
1993 1994 1995 1996 1997 1998 1999 2000 2001
Financials
QIAGEN Sets Standards in Nucleic Acid Processing Intro
Technology Leadership
4
W W W . Q I A G E N . C O MSlide: 7
Blood is a Complex Biological Sample
Nucleolus, Polymerases, Ceramides, Chromosomes, Chromatin, mRNA, Cytoplasm, Leucocytes, Sugars, Lipids, Salts, Urea, Carbonic acids, Cofactors, Precursors, Hemoglobins, Erythrocytes, Monocytes, Smooth endoplasmatic reticulum, Macrophages, Thrombocytes, Platelets, Lymphocytes, Basophils, Eosinophils, Neutrophils, Megacaryocytes, Plasma, Clotting factors, Actin, Microfilaments, Serum, Fibrin, Lysosomes, Ezrin, DNA, Hemaglobins, Heptaglobins, Transferrin, Fibrinogen, Serum albumin, tRNA, Salts, Polymerases, Centrioles, Immunoglobulins, Carrier proteins, Cytokines, Angiotensins, Chemokines, Bradykines, Plasma membranes, Ribosomes, Actin, Vesicles, Complement components, Nuclei, Rough endoplasmatic reticulum, Nucleoli, Golgi apparatus, Glycoproteins, Microtubules, Mitochondria, Mitochondrial nucleic acids, Vacuoles, Talin, ...
Technology Leadership
W W W . Q I A G E N . C O MSlide: 8
Blood is a Complex Biological SampleNucleolus, Polymerases, Ceramides, Chromosomes, Chromatin, mRNA, Cytoplasm, Leucocytes, Sugars, Lipids, Salts, Urea, Carbonic acids, Cofactors, Precursors, Hemoglobins, Erythrocytes, Monocytes, Smooth endoplasmatic reticulum, Macrophages, Thrombocytes, Platelets, Lymphocytes, Basophils, Eosinophils, Neutrophils, Megacaryocytes, Plasma, Clotting factors, Actin, Microfilaments, Serum, Fibrin, Lysosomes, Ezrin, DNA, Hemaglobins, Heptaglobins, Transferrin, Fibrinogen, Serum albumin, tRNA, Salts, Polymerases, Centrioles, Immunoglobulins, Carrier proteins, Cytokines, Angiotensins, Chemokines, Bradykines, Plasma membranes, Ribosomes, Actin, Vesicles, Complement components, Nuclei, Rough endoplasmatic reticulum, Nucleoli, Golgi apparatus, Glycoproteins, Microtubules, Mitochondria, Mitochondrial nucleic acids, Vacuoles, Talin, Nucleolus, Polymerases, Ceramides, Chromosomes, Chromatin, mRNA, Cytoplasm, Leucocytes, Sugars, Lipids, Salts, Urea, Carbonic acids, Cofactors, Precursors, Hemoglobins, Erythrocytes, Monocytes, Smooth endoplasmatic reticulum, Macrophages, Thrombocytes, Platelets, Lymphocytes, Basophils, Eosinophils, Neutrophils, Megacaryocytes, Plasma, Clotting factors, Actin, Microfilaments, Serum, Fibrin, Lysosomes, Ezrin, DNA, Hemaglobins, Heptaglobins, Transferrin, Fibrinogen, Serum albumin, tRNA, Salts, Polymerases, Centrioles, Immunoglobulins, Carrier proteins, Cytokines, Angiotensins, Chemokines, Bradykines, Plasma membranes, Ribosomes, Actin, Vesicles, DNA, Complement components, Nuclei, Rough endoplasmatic reticulum, Nucleoli, Golgi apparatus, Glycoproteins, Microtubules, Mitochondria, Mitochondrial nucleic acids, Vacuoles, Talin, Nucleolus, Polymerases, Ceramides, Chromosomes, Chromatin, mRNA, Cytoplasm, Leucocytes, Sugars, Lipids, Salts, Urea, Carbonic acids, Cofactors, Precursors, Hemoglobins, Erythrocytes, Monocytes, Smooth endoplasmaticreticulum, Macrophages, Thrombocytes, Platelets, Lymphocytes, Basophils, Eosinophils, Neutrophils, Megacaryocytes, Plasma, Clotting factors, Actin, Microfilaments, Serum, Fibrin, Lysosomes, Ezrin, DNA, Hemaglobins, Heptaglobins, Transferrin, Fibrinogen, Serum albumin, tRNA, Salts, Polymerases, Centrioles, Immunoglobulins, Carrier proteins, Cytokines, Angiotensins, Chemokines, Bradykines, Plasma membranes, Ribosomes, Actin, Vesicles, Complement components, Nuclei, Rough endoplasmatic reticulum, Nucleoli, Golgi apparatus, Glycoproteins, Microtubules, Mitochondria, Mitochondrial nucleic acids, Vacuoles, Talin, Nucleolus, Polymerases, Ceramides, Chromosomes, Chromatin, mRNA, Cytoplasm, Leucocytes, Sugars, Lipids, Salts, Urea, Carbonic acids, Cofactors, Precursors, Hemoglobins, Erythrocytes, Monocytes, Smooth endoplasmatic reticulum, Macrophages, Thrombocytes, Platelets, Lymphocytes, Basophils, Eosinophils, Neutrophils, Megacaryocytes, Plasma, Clotting factors, Actin, Microfilaments, Serum, Fibrin, Lysosomes, Ezrin, DNA, Hemaglobins, Heptaglobins, Transferrin, Fibrinogen, Serum albumin, tRNA, Salts, Polymerases, Centrioles, Immunoglobulins, Carrier proteins, Cytokines, …
Technology Leadership
5
W W W . Q I A G E N . C O MSlide: 9
Nucleic acids are of significant interestNucleolus, Polymerases, Ceramides, Chromosomes, Chromatin, mRNA, Cytoplasm, Leucocytes, Sugars, Lipids, Salts, Urea, Carbonic acids, Cofactors, Precursors, Hemoglobins, Erythrocytes, Monocytes, Smooth endoplasmatic reticulum, Macrophages, Thrombocytes, Platelets, Lymphocytes, Basophils, Eosinophils, Neutrophils, Megacaryocytes, Plasma, Clotting factors, Actin, Microfilaments, Serum, Fibrin, Lysosomes, Ezrin, DNA, Hemaglobins, Heptaglobins, Transferrin, Fibrinogen, Serum albumin, tRNA, Salts, Polymerases, Centrioles, Immunoglobulins, Carrier proteins, Cytokines, Angiotensins, Chemokines, Bradykines, Plasma membranes, Ribosomes, Actin, Vesicles, Complement components, Nuclei, Rough endoplasmatic reticulum, Nucleoli, Golgi apparatus, Glycoproteins, Microtubules, Mitochondria, Mitochondrial nucleic acids, Vacuoles, Talin, Nucleolus, Polymerases, Ceramides, Chromosomes, Chromatin, mRNA, Cytoplasm, Leucocytes, Sugars, Lipids, Salts, Urea, Carbonic acids, Cofactors, Precursors, Hemoglobins, Erythrocytes, Monocytes, Smooth endoplasmatic reticulum, Macrophages, Thrombocytes, Platelets, Lymphocytes, Basophils, Eosinophils, Neutrophils, Megacaryocytes, Plasma, Clotting factors, Actin, Microfilaments, Serum, Fibrin, Lysosomes, Ezrin, DNA, Hemaglobins, Heptaglobins, Transferrin, Fibrinogen, Serum albumin, tRNA, Salts, Polymerases, Centrioles, Immunoglobulins, Carrier proteins, Cytokines, Angiotensins, Chemokines, Bradykines, Plasma membranes, Ribosomes, Actin, Vesicles, DNA, Complement components, Nuclei, Rough endoplasmatic reticulum, Nucleoli, Golgi apparatus, Glycoproteins, Microtubules, Mitochondria, Mitochondrial nucleic acids, Vacuoles, Talin, Nucleolus, Polymerases, Ceramides, Chromosomes, Chromatin, mRNA, Cytoplasm, Leucocytes, Sugars, Lipids, Salts, Urea, Carbonic acids, Cofactors, Precursors, Hemoglobins, Erythrocytes, Monocytes, Smooth endoplasmaticreticulum, Macrophages, Thrombocytes, Platelets, Lymphocytes, Basophils, Eosinophils, Neutrophils, Megacaryocytes, Plasma, Clotting factors, Actin, Microfilaments, Serum, Fibrin, Lysosomes, Ezrin, DNA, Hemaglobins, Heptaglobins, Transferrin, Fibrinogen, Serum albumin, tRNA, Salts, Polymerases, Centrioles, Immunoglobulins, Carrier proteins, Cytokines, Angiotensins, Chemokines, Bradykines, Plasma membranes, Ribosomes, Actin, Vesicles, Complement components, Nuclei, Rough endoplasmatic reticulum, Nucleoli, Golgi apparatus, Glycoproteins, Microtubules, Mitochondria, Mitochondrial nucleic acids, Vacuoles, Talin, Nucleolus, Polymerases, Ceramides, Chromosomes, Chromatin, mRNA, Cytoplasm, Leucocytes, Sugars, Lipids, Salts, Urea, Carbonic acids, Cofactors, Precursors, Hemoglobins, Erythrocytes, Monocytes, Smooth endoplasmatic reticulum, Macrophages, Thrombocytes, Platelets, Lymphocytes, Basophils, Eosinophils, Neutrophils, Megacaryocytes, Plasma, Clotting factors, Actin, Microfilaments, Serum, Fibrin, Lysosomes, Ezrin, DNA, Hemaglobins, Heptaglobins, Transferrin, Fibrinogen, Serum albumin, tRNA, Salts, Polymerases, Centrioles, Immunoglobulins, Carrier proteins, Cytokines, …
Technology Leadership
W W W . Q I A G E N . C O MSlide: 10
QIAGEN Purification Technologies for Best Results
DNA
Technology Leadership
6
W W W . Q I A G E N . C O MSlide: 11
BacteriaCells Tissue Blood
Roche, Abbott etc.Applied BiosystemsGEAffymetrix…
Fisher ScientificRocheInvitrogenSigmaPromegaGE…
Biologicalsample
Sample - collection- pretreatment- purification- handling
Bioassay Detection
Hundreds of Life Science Applications – One Need Technology Leadership
W W W . Q I A G E N . C O MSlide: 12
Bio
logi
cal
sam
ples
Nucleic Acids/Genetic Target
Assays/Application
Bacteria
Tissue
Blood
gDN
A
SequencingSNP-Genotyping
Microarrays
tRN
A
pDN
A
Vira
l NA
mR
NA
mt
DN
A
Oth
ers
Expression Profiling
Plants
Animal
Viruses
Others (Cloning, PCR...)
QIAGEN Product Dimensions Technology Leadership
7
W W W . Q I A G E N . C O MSlide: 13
Mar
ket s
hare
100%
Home Brew
Competitors
QIAGEN is Substituting Traditional Methods Technology Leadership
W W W . Q I A G E N . C O MSlide: 14
QIAGEN’s Pre-analytical Sample Preparationis Standard Technology
Leadership
Unparalleled range of applications Standardizes processesTime savingsHighest purityAutomationUp-scalingNon- toxic reagents usedHighest convenienceEase of useCompatible with down-stream applicationsEasiest integration into already existing platforms
8
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QIAGEN Technology and Innovation Leader
Consumable TechnologiesNumerous standardizedtechnologies addressing morethan 80 different applications
Engineering - AutomationHardware design perfectionSoftware development platformsElectronic engineering –PDL systems
Comprehensive Intellectual Property Estate
Over 321 patentsOver 252 pending applicationsOver 500 patents under license
Technology Leadership
W W W . Q I A G E N . C O MSlide: 16
Chromatography technologiesSelective adsorption technologiesFiltration technologiesMagnetic bead technologiesThin membrane technologiesHybrid capture technologiesEndotoxin removal technologiesCationic detergent technologiesTransfection technologiesAutomation technologies…
QIAGEN Technologies Technology Leadership
Chemistry
BiologyPhysics
Engineering
Application knowledge
Ergonomics
9
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EZ1$28,000
BR M48 - M96BR 3000
$40,000-80,000
BR 8000 and UHT systems$70,000 and up
1 6 48 96 samples (manual)
BioRobot Product line Technology Leadership
Approx 85%
of Sales
1 6 48 96 (>20,000) samples (autom)
Approx 15%
of Sales
W W W . Q I A G E N . C O MSlide: 18
QIAGEN has Significant Marketing and Sales Power Intro
Technology Leadership
Growth Drivers
0
20.000
40.000
60.000
80.000
100.000
120.000
140.000
160.000
180.000
200.000
220.000
240.000
260.000
280.000
1993 1994 1995 1996 1997 1998 1999 2000 2001
Financials
Sales Strength
CUSTOMER
ResearchPharma KAM
Clinical
MDX
Inside Sales
E-commerce
Forensic
10
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Leveraging a Leading Sales Force
Structure
About 600 employees in marketing and sales
Global reach
Well-educated individuals – Ph.D. MSc. etc.
Key Account Management – Pharma, Vet etc.
Specialists: Automated Solutions, Diagnostics etc.
Sales force fully integrated in CRM tools
Global reach
Sales force controlling with CRM
Sales strength
Multiple Sales channels
CUSTOMER
ResearchPharma KAMClinical
MDXInside SalesE-commerce
Forensic
W W W . Q I A G E N . C O MSlide: 20
Leveraging a Leading Sales Force
Performance
Outstanding reputation, award-winning
Accustomed to high growth rates
Focused on building standards inpre-analytics
Focused on selling solutions
Fast growing consumable stream
High growth momentum
Sales strength
CAGR: 31%
Coordinated sales approach
96 97 98 99 00 01 02 03
2000 2001 2002 2003 2004
Inside Sales VET Field Sales VET
11
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QIAGEN‘s Brand EquityStandard & Poor's - Report July 16th, 2004
“In less than two decades, QIAGEN has become the world's leading provider of "enabling technologies for the separation purification and handling of nucleic acids" - addressing applications in four key markets: research, gene therapy, molecular diagnostics and genomics & drug discovery. Key to the success of the company is the brand image as well as the strong technological investment“
Frost & Sullivan - Innovation Award 2003
A comprehensive end-user study conducted by Frost & Sullivan entitled “U.S. Nucleic Acid Isolation Markets” identified QIAGEN as the market-leading provider of innovative and cost-effective products for the purification of nucleic acids. In an analysis entitled The World Robotics in Biology: Liquid Handling Markets, Frost & Sullivan identified QIAGEN as the undisputed leader in product innovation in this area and highlighted QIAGEN for product innovation in various automation solutions targeting molecular diagnostics and research.
Sales strength
W W W . Q I A G E N . C O MSlide: 22
Technology Leadership Sales Strength
CUSTOMER
ResearchPharma KAM
Clinical
MDX
Inside Sales
E-commerce
Forensic
Financials
QIAGEN is Addressing Key Growth Markets Growth Drivers
Growth Drivers
0
20.000
40.000
60.000
80.000
100.000
120.000
140.000
160.000
180.000
200.000
220.000
240.000
260.000
280.000
1993 1994 1995 1996 1997 1998 1999 2000 2001
12
W W W . Q I A G E N . C O MSlide: 23
Basic/Applied Research Molecular Diagnostics
Growth Drivers
Innovation Standardization
Clinical Research
Molecular biologyCell biologySystem biologyGene interactionRegulatory processesSignalingGenomicsProteomicsMetabolomicsGlycomics
Drug metabolismPre-selection of patientsExcluding patientsDose selectionPharmacokineticsEntry criteria to clinical trialsSafety monitoringSubject stratificationResults to support scientific argumentsValidation of biomarkers
Viral infectionsBacterial infectionsHLAForensicsBiobankingPharmacogeneticsGMO/FoodVetOncologyPaternity testing
MolecularBiology concepts
moving into new areas of research
NewFDA guidelines
accelerating use of molecular biology in clinical research
and trials
Growing menuof tests and automation
fuelling growth
Growth Drivers
W W W . Q I A G E N . C O MSlide: 24
Molecular Biology Yesterday and todayMolecular Biology
Yesterday and todayMolecular Biology
TomorrowMolecular Biology
Tomorrow ??
Incompatibility of systems
Very high complexity
Expertise/Skill/Training needed
Laborious manual procedures
Centralized application
Sizable instruments
Dissemination• Decreasing complexity• Ease of use• Automated solution• Decentralization• Design & Ergonomics
Standardization
Systems Biology
Ubiquitous application
One standard – highest compatibility
Very low complexity
Maximized ease-of-use
Miniaturization
Design & Ergonomics
Point-of-care
Emerging new business models
Life Science ResearchApplied & Regulated Markets
Life Science Research Markets
Molecular Biology is in the Process of ChangingMolecular Biology is in the Process of Changing
Mass-markets
Molecular Biology: Change in Process Growth Drivers
13
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Posttranslational modifications (PTMs)QIAGEN PhosphoProtein Kit
New QproteomeTM Total Glycoprotein Kit
New QproteomeTM Mannose Glycoprotein Kit
New QproteomeTM Sialic Glycoprotein Kit
New QproteomeTM O-Glycan Glycoprotein Kit
Physicochemical propertiesNew QproteomeTM Soluble Protein Separation Kit
LocalizationNew QproteomeTM Cell Compartment Kit
New QproteomeTM Nuclear Subfractionation Kit
Depletion of irrelevant proteins New QproteomeTM Albumin/IgG Depletion Kit
Positions Q
IAGEN as Leading Provid
er
for Proteomic S
ample Fractionatio
n Kits
Reducing the Complexity of the Proteome:Qproteome Kits for Fractionation Growth Drivers
W W W . Q I A G E N . C O MSlide: 26
QProteome: Reducing Complexity! Growth Drivers
14
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Reduction of sample complexityaccording to specific separation criteria —efficient isolation of a targeted subsetof proteins for easier analysis
Simple, easy-to-use kit formats —automated version for QIAGEN BioRobots
Highly reproducible, standardized separation —reliable results, time after time
Intact, native-conformation proteins —suitable for activity assays and other downstream applications
QProteome: Features and Benefits Growth Drivers
W W W . Q I A G E N . C O MSlide: 28
Emerging market with approx 50% growth
2005 market size : 35 M US$ ww
Market dominated by home-brew,no major kit supplier established yet
Products fit perfectly to QIAGEN's excellent reputation for sample prep
From Jan 2005, QIAGEN offers the leading portfolio for protein fractionation !
QProteome Market Opportunities Growth Drivers
15
W W W . Q I A G E N . C O MSlide: 29
Translating Knowledge Into ProductsExample Pharma Product Development
Translational Medicine
Research ClinicalDevelopment Approval Market
ProductsProductsKnowledgeKnowledge
Increasing Need For Common Methods & Standards Throughout Development Pipeline & On Market
Growth Drivers
W W W . Q I A G E N . C O MSlide: 30
Translating Knowledge Into ProductsExample Pharma Product Development
Translational Medicine
Research ClinicalDevelopment Approval Market
ProductsProductsKnowledgeKnowledge
Research is increasingly required to innovate in manner that increases speed to market
-> They need to have visibility that their tools can link or carry into regulated use!
Growth Drivers
16
W W W . Q I A G E N . C O MSlide: 31
Standardized Innovation for Molecular Diagnostics
QIAGEN launched the worldwidefirst CE-marked stand aloneautomated Sample Preparation Systemfor Viral Nucleic acids.
Instrument: BioRobot MDx DSPSoftware: QIAsoft MDxDSPProtocol: QIAamp DSP 96 Virus MDxConsumable: QIAamp DSP 96 Virus
Growth Drivers
W W W . Q I A G E N . C O MSlide: 32
Standardized and proven solutions
Strong product pipeline
Unparalleled range of applications
Extensive breadth of chemistries and technologies
Strong IP position
Regulatory compliance
Strong brand name
QIAGEN - a Leader for Preanalytical Solutions Growth Drivers
QIAGEN is the market and technology leader for pre-analytical sample preparation by creating indispensable solutions that set standards in enabling access to content from any biological sample.
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Technology Leadership Sales Strength
CUSTOMER
ResearchPharma KAM
Clinical
MDX
Inside Sales
E-commerce
Forensic
Growth Drivers
0
20.000
40.000
60.000
80.000
100.000
120.000
140.000
160.000
180.000
200.000
220.000
240.000
260.000
280.000
1993 1994 1995 1996 1997 1998 1999 2000 2001
QIAGEN - Strong Financial Base – Exciting Model Financials
Financials
W W W . Q I A G E N . C O MSlide: 34
Period
Gro
wth
vs
prio
r yea
r
As reported
Growth by Product Line Financials
-30%
-20%
-10%
0%
10%
20%
30%
40%
50%
60%
Q1
2001
Q2
2001
Q3
2001
Q4
2001
Q1
2002
Q2
2002
Q3
2002
Q4
2002
Q1
2003
Q2
2003
Q3
2003
Q4
2003
Q1
2004
Q2
2004
Q3
2004
ConsumablesInstruments
18
W W W . Q I A G E N . C O MSlide: 35
Worldwide Q3 2004
Japan9% of Sales7% Growth
Europe 40% of Sales22% Growth
Distributors + RoW2% of Sales
North America49% of Sales14% Growth
Geographical Distribution of Net Sales Financials
W W W . Q I A G E N . C O MSlide: 36
Continuous Margin Improvement
All figures excluding relocation and restructuring chargesAll figures calculated at constant currencies.
Financials
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Q2 03 Q3 03 Q4 03 Q1 04 Q2 04 Q3 04
COGS
R&D
S&M
G&A
Oper. margin
19
W W W . Q I A G E N . C O MSlide: 37
13% - 19%0.36 – 0.38EPS (US$)**
18% - 20%~ 24%Operating Income**
15% - 16%376 - 381Net Sales (US$ Mio)*
Growth vsFY 2003
GuidanceFY 2004
* excluding synthetic DNA business unit
Guidance for FY 2004 Financials
Based on Guidance for Q4 2004
** excluding relocation and restructuring charges as well ascharges related to the MBO of synthetic DNA business unit
W W W . Q I A G E N . C O MSlide: 38
QIAGEN Cash Flow Statement
In $ millions unless indicated
1 excluding acquisition of product and technology portfolio of Molecular Staging, Inc.
Financials
YTDSep 2004
YTDSep 2003
Operating Cash Flow 31.0 45.7Investing Cash Flow -79.9 -16.5Purchases ofMarketable Securities 62.7Financing Cash Flow 94.8 -2.1
Net Cash Flow 106.8 30.4
Net Cash Flow Margin 37% 12%
Depreciation & Amortization 18.0 18.9Capital Expenditures1 9.0 16.4
20
W W W . Q I A G E N . C O MSlide: 39
Clear mission – one core focus area
Highest market shares in its core markets
Focus on market penetration- not on breadth of product offerings
Gate keeper position by standing betweenraw sample and purified nucleic acids. While analytical tools change,this challenge always remains.
Very strong in clinical diagnostic markets. Different growth drivers than in research markets.
Large unconverted market.Substitution of traditional methodsprovides additional upside.
Key Investment Considerations Financials