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W W W . Q I A G E N . C O MSlide: 1
Dr. Joachim Schorr
Managing Director and SVP Global R&D
SG Cowen 6th Annual Global Health Care Conference
Barcelona, November 10, 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).
The following slides may contain certain summary information about QIAGEN N.V.’s operating income, net income, and earnings per share, which information is presented on a “non-GAAP financial measures”basis rather than in accordance with U.S. generally accepted accounting principles (“GAAP”). Please review QIAGEN’s recent press releases for information on the company’s operating income, net income, and earnings per share for specific periods presented on a GAAP basis. Such GAAP-basis information will also be contained in the company’s reports on Form 20-F and 6-K to be filed with or furnished to the U.S. Securities and Exchange Commission and which are available on QIAGEN’s homepage under www.QIAGEN.com.
Forward Looking Statements Intro
W W W . Q I A G E N . C O MSlide: 3
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 solutions that enable access to content from any biological sample Intro
W W W . Q I A G E N . C O MSlide: 4
Revenues: 2004: $ 380.6 million 96–04 CAGR: 27%1
Net income: 2004: $ 57.32million 96–04 CAGR: 35%2
EPS: 2004: $ 0.392 96–04 CAGR: 33%2
Product Range:
Approx. 320 consumable products to separate and purify nucleic acids and proteinsInstrumentation for certain applicationsMolecular diagnostics and research test kits
IP: 315 issued patents, 263 pending patentsOver 500 patents under license
Customers: >400,000 customers in Academia,Industrial (Pharma/Biotech), and Diagnostics
Employees: 1.527 people based in 15 subsidiaries
1 excluding synthetic DNA business unit sold in Q2 20042 excluding acquisition, restructuring and related charges as well as amortization on acquired IP
QIAGEN at a Glance Intro
W W W . Q I A G E N . C O MSlide: 5
Technology Leadership Sales Strength
CUSTOMER
Research
Pharma KAM
Clinical
MDX
Inside Sales
E-commerce
Forensic
QIAGEN: Standards which Enable Access to the Content of Any Biological Sample
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
Intro
W W W . Q I A G E N . C O MSlide: 6
Sales Strength
CUSTOMER
Research
Pharma 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: Standards which Enable Access to the Content of Any Biological Sample
Technology Leadership
Technology Leadership
W W W . Q I A G E N . C O MSlide: 7
Blood - 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 - 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
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 Preanalytical Technologies for Best Results Technology
Leadership
DNA
W W W . Q I A G E N . C O MSlide: 11
Bio
logi
cal
sam
ples
Nucleic Acids/Genetic Target
Assays/Application
Bacteria
Tissue
BloodgD
NA
SequencingSNP-Genotyping
Microarrays
RN
A
pDN
A
Pro
tein
s
vNA
Co-
purif
.
Oth
ers
Expression Profiling
Plants
Animal
Viruses
Others (Cloning, PCR...)
QIAGEN Product Dimensions Technology Leadership
W W W . Q I A G E N . C O MSlide: 12
QIAGEN’s Leadership in Pre-analytical Tools Technology Leadership
Unparalleled range of applications
Standardizes processes
Time savings
Highest purity
Automation
Up-scaling
Non- toxic reagents used
Highest convenience
Ease of use
Compatible with down-stream applications
Easiest integration into already existing platforms
Mar
ket s
hare
100%
Home Brew
Competitors
W W W . Q I A G E N . C O MSlide: 13
QIAGEN has Significant Marketing and Sales Power
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
Research
Pharma KAM
Clinical
MDX
Inside Sales
E-commerce
Forensic
Sales strength
W W W . Q I A G E N . C O MSlide: 14
Strong Sales and Marketing Force
Americas < 50% of Sales: Sales and Marketing Force: 210Mid-teens growth in 05
Europe Approx 40% of SalesSales and Marketing Force: 270Low-teens growth in 05Mixed, some much faster
Asia Approx 10% of SalesSales and Marketing Force: 50Low-teens growth in 05
530 sales and marketing professionals – on one clear and focused mission
MARKETS
Research
Pharma KAM
Clinical
MDX
Inside Sales
E-commerce
Forensic
SPECIALISTS
Channels
Sales strength
W W W . Q I A G E N . C O MSlide: 15
Third Quarter 2005 Revenue Distribution
Consumables15% growthQ1-Q4 launch campaigns withstrong performance
Instruments-14% growth yoystrong growth in major BioRobotproduct linesOEM still delayed
10%
Japan8% of salesFlat, outlook improving
RoW2% of sales
North America48% of sales
8% growth
Europe 42% of sales13% growth
89%
Other (1%)Focusing companyReducing servicebusiness (e.g. contract manufacturing)
W W W . Q I A G E N . C O MSlide: 16
QIAGEN‘s Brand Equity
Standard & 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: 17
Technology Leadership Sales Strength
CUSTOMER
Research
Pharma KAM
Clinical
MDX
Inside Sales
E-commerce
Forensic
Financials
QIAGEN is Addressing Key Growth Markets Growth Drivers
Growth Drivers
0
20.000
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60.000
80.000
100.000
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240.000
260.000
280.000
1993 1994 1995 1996 1997 1998 1999 2000 2001
W W W . Q I A G E N . C O M
Standardization& Integration
Standardization& Integration
SystemsBiology
SystemsBiologyDisseminationDissemination
3
1
Discovery Clinical phases
Plasmid
Cells
2
gDNA
RNA
Executing on our MissionCatalytic Acquisitions
Molecular Diagnostics
Applied Markets
Academic research
BiomedicalResearch
Pharma
Personalized Medicine
Proteins
Routine use
- Separate Diagnostics sales force - Separate Applied Testing sales focus
- Forensics- Veterinary- Manufacturing/PAT
- Pharmacogenomics sales initiative- Personalized Medicine Coalition
- QProteome – protein fractionation- Haplotype specific extraction- Epigenomics alliance
- Alliances in DX- Roche, J&J, Beckman etc.
-510ks, CE-markings
Growth Drivers
W W W . Q I A G E N . C O MSlide: 19
Molecular Diagnostics
Executing on strategy during 2005:
Expanding portfolio with diagnostic assays (artus, PG Biotech)
Standards in sample preparation – linking with tests (assays)
CE and FDA regulated products
Numerous strategic alliances
Impressive pipeline with >12 new assays to come in next 4 months
QIAGEN’s Core Activities in MDx:
Direct selling (80% of MDx revenues) we control
OEM products (15% of MDx revenues) less predictable(QIAGEN products shipped to partners)
OEM development (5% of MDx revenues) less predictable(development of solutions for partners)
IVD - facilitate diagnosis – influence therapy decisions
W W W . Q I A G E N . C O MSlide: 20
Total Diagnostics Markets
Diagnostics is changing – we are in the right position.
Diabetes Care21%
ClinicalChemistry
14% Near PatientTesting
11%
Immunochemistry25%
Other IVD23%
Molecular Diagnostics6%,
$ 2 billion market
Source: company estimates for 2006, various industry research reports
W W W . Q I A G E N . C O MSlide: 21
QIAGEN Molecular Diagnostics MarketsSubsegments
Estimated market volume: > US$ 2 billion (2006)Estimated no. of tests per year: > 65 millionEstimated market growth: > 15%
Pathogen testing is growing into a multi billion US$ market
Viral Infections39%
Non-Viral Infections12%
Genetic Testing13%
Oncology11%
Blood banksOthers25%
Source: company estimates, various industry research reports
W W W . Q I A G E N . C O MSlide: 22
QIAGEN Molecular Testing MarketsApplied Testing Markets
Applied testing markets provide > US$5 bill. by 2008Vast opportunities with conversion to molecular testing
Estimated molecular market volume: > US$ 500 million (2008)Estimated no. of tests per year: > 25 million (2008)Estimated market growth: > 20%
QC Pharma
Biosecurity
Veterinary
Food Pathogens
Pharmacogenomics
Food GMO
Human ID
Source: company estimates, various industry research reports
W W W . Q I A G E N . C O MSlide: 23
QIAGEN and Avian FluComplete Technology Portfolio
1) Screening (animals, food)
PG Biotech: Avian influenza Virus FQ-PCR Detection Kit,first and only PCR based, SFDA approved avian flu test worldwide (launched 2004)
QIAGEN (prev. artus): artus™ Influenza LC RT-PCR Kitfor influenza A/B, also detects H5N1
2) IVD
QIAGEN (prev. artus): artus™ Influenza/H5 LC RT-PCR Kit, a specific, sensitive and fast nucleic acids (RNA) test of the avian flu (H5N1) virus in humans
3) QIAGEN components standard in homebrew test solutions
E.g.: WHO/CDS/CSR/NCS/2005 – WHO Animal Influenza Manual www.who.int/csr/resources/publications/influenza/whocdscsrncs20025rev.pdf
E.g.: WHO-Recommended laboratory tests to identify avianinfluenza A virus in specimens from humans
www.who.int/csr/disease/avian_influenza/guidelines/avian_labtests2.pdf
QIAGEN – speed and innovation in molecular diagnosticsLeading supplier in avian flu testing
W W W . Q I A G E N . C O MSlide: 24
QIAGEN and Avian FluH5N1 Test
1) Direct detection:
2) Two layer detection
Speed and innovation in molecular diagnostics
- Highly sensitive
- Captures moremutations
- Broad screening, yet specific
- Fast
- Economical
- Needs stableregions in targetnucleic acid
W W W . Q I A G E N . C O MSlide: 25
Chinese Biotech Market Today
Life science grants to reach US$ 2.6 bn/year
Commercialization and R&D encouraged by government
Two main segments:
Biomedical- world‘s largest pharmaceutical market by 2020- Biotech to be a key driver- Focus on Dx, pharmacogenomics
Agricultural Biotech:- Building largest Ag-biotech capacity outside
North America
Today: largest biology student population;One of three scientific publications with Chinese co-authors
Chinese biotech still small – but exciting growth opportunities
W W W . Q I A G E N . C O MSlide: 26
QIAGEN Activities in China
QIAGEN
Established focused, local marketing presence and office in Shanghai
Strengthened distribution channels
Local Brand: Acquisition of TianWei Times in Beijing provided network and operational base to address specific local sample preparation needs of research community
Diagnostics
PG Biotech leading MDx company, gaining share
Substantial sales channel
Development and manufacturing
Regulatory base
Expanding in – and – from China!
W W W . Q I A G E N . C O MSlide: 27
QIAGEN‘s Leadership
strong leadership in nucleic acidsexpanding leadership in proteinscomplete portfolio for all markets and segments
leadership in research markets with PCR and other bioassay technologies
5th largest molecular diagnostics company –a leader in PCR assays
Growth Drivers
W W W . Q I A G E N . C O MSlide: 28
Technology Leadership Sales Strength
CUSTOMER
Research
Pharma 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: 29
QIAGEN Third Quarter 2005 at a Glance
Exceeded
In line
1 excluding acquisition, restructuring, integration and related charges2 excluding acquisition, restructuring, integration and related charges as well as
amortization on acquired IP3 computed using cash from operations divided by number of fully diluted shares
Soft OEM instrumentation business and contract research business generates lower revenue,US$2mill. revenue shortfall
Exceeded operating income margin
In line with EPS guidanceWell on track to make FY guidance of US$ 0.44 – 0.47
Soft due to OEMIn US$ millions unless indicated Guidance
Guidance CERFebruary 2005 Achieved Growth
Net sales 105-107 101.8 98.7 13%
Operating income1 24-26% 27% 10%
EPS (US$)1 0.11-0.13 0.12 20%
Adjusted EPS (US$)2 0.12Cash EPS3 0.13
W W W . Q I A G E N . C O MSlide: 30
QIAGEN Third Quarter 2005 Revenue Growth
Consumables: Sustainable growth rate of 15%
Instruments: QIAGEN BioRobots solid 9% growth YTD
OEM weak due to delayed product launches ofsome of our partners in molecular diagnostics
Others: Focusing the companyReducing revenues(mainly services and OEM contract research)Exercising strategy to grow
Q3 2005
Consumables 15%Instruments -14%Others -56%
Total 9%
W W W . Q I A G E N . C O MSlide: 31
Operating margin: Exceeded guidance
Managed S&M and G&A costs
Focus on high gross margin consumables
Good base going forward
66%
27%
16%
70%
28%
19%
Gross margin Operating incomemargin*
Net income margin*
Q3 2004
Q3 2005
* excluding acquisition, restructuring, integration and related charges as well as amortization onacquired IP
QIAGEN Margin Development - the Driver for Profitability
W W W . Q I A G E N . C O M
Already achieved in Q3 2005
Adjusted Guidance
No impact on EPS!!
- 32 -
* based on foreign exchange rates used for guidance communicated on February 15, 2005
1 excluding acquisition, restructuring, integration and related charges
9M 2005CER to
guidance*Guidance
Nov 8, 2005
Revenues (in mio US$) 294,1 298,7 405 - 407
Operating margin1 25% 25% 25% - 26%
EPS (US$)1 US$ 0.32 US$ 0.32 US$ 0.44 - 0-47
*
W W W . Q I A G E N . C O MSlide: 33
US/Can Europe Asia RoWTotal
Q3 05Total
Q2 05 Growth
Production 76 267 21 364 354 3%R&D 18 282 3 303 305 -1%Sales 218 249 56 15 538 519 4%Marketing 24 71 24 1 120 113 6%Admin 50 143 9 4 206 204 1%
Total 386 1012 113 20 1531 1495 2%
Employees September 30, 2005
Further strengthened
Sales & Marketing
W W W . Q I A G E N . C O MSlide: 34
Positive Outlook on 2005
Solid third quarter – strong growth in core business
Good financial performance
Operating margin already achieved FY guidanceFurther improvement possible
Cash > $210 million
EPS first nine months 2005 achieved $0.32 (excl.)Well on track to achieve FY guidance
Strong strategic momentum
Positioning QIAGEN as a leading Dx company
Expanding market leadership in Asia
Three accretive acquisitions in Q3 2005
Exciting new product launches
Leveraging operational strength to further improve margins
Successful integrations of acquired businesses
Executing on Plans – Expanding – Setting Standards