W W W . Q I A G E N . C O MW W W . Q I A G E N . C O M- 1 -
NASDAQ18th Investor Program
London, December 07, 2006
Roland SackersChief Financial Officer
W W W . Q I A G E N . C O MW W W . Q I A G E N . C O M- 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
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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.
QIAGEN Mission 2006
MarketLeader
AttractiveMarkets
FocusedPortfolio
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Revenues: 2005: $ 398 million 96–05 CAGR: 25%Net income: 2005: $ 69 million 96–05 CAGR 33%1
EPS: 2005: $ 0.46 96–05 CAGR: 31%1
Product Range:>500 consumable products to collect, separate, purify, stabilize, store, amplify target analytes in samples (DNA, RNA, proteins, etc.) Instrumentation for above consumablesMolecular diagnostics and research test kits
IP (12/05):409 issued patents, 321 pending patentsOver 500 patents under license
Customers >400,000 customers :Research: academia, industry (pharma/biotech)Applied Testing (vet., forensics, biodefense etc.)Molecular Diagnostics
Employees: >1.800 employees based in 19 subsidiaries1 excluding acquisition, restructuring and related charges as well as amortization on acquired IP
QIAGEN at a Glance
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Sales Strength
CUSTOMER
Research
Pharma KAM
Clinical
MDX
Inside Sales
E-commerce
Forensic
QIAGEN: Standards which EnableAccess 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
Technology Leadership
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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 EnableAccess to the Content of Any Biological Sample Technology
Leadership
Technology Leadership
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Sample & Assay Technologies
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 endoplasmatic reticulum, Macrophages, Thrombocytes, Platelets,
Lymphocytes, Basophils, Eosinophils, Neutrophils, Megacaryocytes, Plasma, Clotting factors, Actin, Microfilaments, Serum, Fibrin, Lysosomes, Ezrin, Hemaglobins, Heptaglobins,
Transferrin, Fibrinogen, Serum albumin, tRNA, Salts, Polymerases, Centrioles, DNA, 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, 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, Talin, ...
Complexsample
DNAPure
Analyte
InformationAssay
Technologies
Target Dectected
Yes
No
Technology Leadership
High-TechDevice
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 endoplasmatic reticulum, Macrophages, Thrombocytes, Platelets,
Lymphocytes, Basophils, Eosinophils, Neutrophils, Megacaryocytes, Plasma, Clotting factors, Actin, Microfilaments, Serum, Fibrin, Lysosomes, Ezrin, Hemaglobins, Heptaglobins,
Transferrin, Fibrinogen, Serum albumin, tRNA, Salts, Polymerases, Centrioles, DNA, 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, 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, Talin, ...
W W W . Q I A G E N . C O MW W W . Q I A G E N . C O M- 8 -
Any content
Enabling Access to the Content ofAny Biological Sample
AnyApplication
AnyBiologicalSample
Technology Leadership
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QIAGEN Technology and Innovation Leader
Consumable Technologies
Standardized technologies addressing morethan 80 different applications
Engineering – Automation
Hardware design perfectionSoftware development platformsElectronic engineering – PDL systems
Comprehensive IP Estate
409 patents321 pending applicationsOver 500 patents under license
R&D
Approx. 10% of sales300 employees
Technology Leadership
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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
Technology Leadership Sales Strength
CUSTOMER
Research
Pharma KAM
Clinical
MDX
Inside Sales
E-commerce
Forensic
QIAGEN has SignificantMarketing and Sales Power Sales Strength
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Strong Sales and Marketing Force
Americas Approx 45% of Sales: Sales and Marketing Force: 258
Europe Approx 45% of SalesSales and Marketing Force: 365
Asia Approx 10% of SalesSales and Marketing Force: 186
~ 800 Sales and Marketing Professionals – One Clear and Focused Mission
MARKETS
Research
Pharma KAM
Biomedical
MDX
Inside Sales
E-commerce
Appl. Testing
SPECIALISTS
Channels
Sales Strength
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QIAGEN –One of the Strongest Brands in the Industry
The QIAGEN name is synonymous withsuperior performanceinnovative productshighest quality and reliabilitytrust
QIAGEN built this powerful brand with hard workmarket and technology competencespirit of innovationpassion for qualityfriendliness & commitment to customers
The QIAGEN brand is one of its most valuable company assets - it helps to attract new customersenter new markets keep the ones we havesell new products obtain premium pricesincrease barriers of entries
QIAGEN: Sample Technology and Assay Competence
Sales Strength
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ConsumablesReported growth 17%18% growth CER
Instruments7% growth CER13% growth CERin Q3 2006
Other (1%)
First Nine Months 2006 Revenue Distribution
Asia37% growth CER66% growth CERin Q3 2006(driven by China)
RoW (2%)
North America11% growthEurope
19% growth CER
90%
9%
CER = Constant exchange rates
Sales Strength
90%
9%
10%
43%
45%
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Academia (approx. 40% of revenues)
QIAGEN’s home turf
Source of innovative products and technologies
Pharma/Biotech (approx. 25% of revenues)
Focus on biomedical research
Pharmacogenomics
Diagnostics (approx. 25% of revenues)
QIAGEN’s growth area
Addressing future opportunities:
panel approach in MDx and
active in many biomarker initiatives
Applied Testing (approx. 10% of revenues)
Today: Forensics
Tomorrow: Veterinarian, food testing
Focus on Growth – Momentum
Markets by Customer Groups
AppliedTesting
10%Research
40%
Pharma25%
25%
MolecularDiagnostics
Sales Strength
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Sales Strength
CUSTOMER
Research
Pharma KAM
Clinical
MDX
Inside Sales
E-commerce
Forensic
Financials
Technology Leadership
QIAGEN is Addressing Key Growth MarketsGrowth 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
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Workflow in Life Sciences
CollectionStabilization
Identical Workflows in All Areas of Life SciencesApplied Testing
Molecular Diagnostics
Life Science Research
SamplePreparation
AssayTechnology
DetectionPlatform
Growth Drivers
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Leveraging Core Competencies
Research Applied Testing Molecular Diagnostics
“Prepare Sample”
(Preanalytical Solutions)
“Make Analyte Visible”
(Assay/Test)
“Detect”Open detection platforms
Different Markets – Same Core Competence
“Detect”Open detection platforms
Growth Drivers
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Disseminating Technologies Into New Markets
Life ScienceResearch Markets
Applied TestingMarkets
Molecular DiagnosticsMarkets
QIAGEN Sample and Assay Technologies
Common Core Addressing 3 Markets
Growth Drivers
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Total Diagnostics Markets
Diagnostics is changing – we are in the right position.
Diabetes Care21%
ClinicalChemistry
14% Near PatientTesting
11%
Immunochemistry25%
Other IVD23%
Molecular Diagnostics 6%,$ 2 billion market
Source: company estimates for 2006, various industry research reports
Growth Drivers
Estimated market:> US$ 30 billion (2006)
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QIAGEN – a Leader in Molecular Diagnostics
Estimated market:> US$ 2 billion (2006)Source: company estimates, various industry research reports
USD Sales inMolecular
Company Diagnostics
Roche 550Genprobe 300Bayer 120QIAGEN 115Digene 115Abbott 110Others
CepheidBiomerieuxBecton DickinsonCelera DxBeckmanInnogeneticsVeridexNanogenThird WaveExactetc.
QIAGEN is a Leading Player in Molecular Diagnostics
Source: company estimates, various industry research reports
Viral Infections39%
Non-Viral Infections12%
Genetic Testing13%
Oncology11%
Blood banksOthers25%
!
Growth Drivers
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Molecular Diagnostics Growth Strategy
Multiple, Synergistic Channels – Focused Direct Sales Resources
Direct sales
OEM developmentOEM sales
Direct Sales
Growing direct sales force > 40
No instrument dependency
Focus on pathogens
Market leader in developing countries
OEM Products
Integrated solutions, CE and FDA
Assays, preanalytical, automation
> 15 Partners
>100 clinical trials using QIAGEN
> 50 clinical trials using PreAnalytiX
OEM development
Developing solutions for partners
Growth Drivers
W W W . Q I A G E N . C O MW W W . Q I A G E N . C O M- 22 -
2005LumiCyte,
Inc.
2005Nextal
Biotech-nologies
2005artus
GmbH
2005SuNyxGmbH
2005TianweiTimes
2005PG Biotech
Co. Ltd.
2006
2005Eppendorf
5-Prime
2005RNAture
QIAGEN’s M&A Strategy
Sta
ndar
diza
tion
of
Pre
anal
ytic
al S
ampl
e P
repa
ratio
n
Creating Preanalytical Solutions
for Systems B
iology
Disseminating Reach ofCore Capabilities
2006Gentra
Growth Drivers
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Multiplexing Workflow Steps in Diagnostics
CollectionStabilization
Providing a Complete Workflow for Our CustomersApplied Testing
Molecular Diagnostics
Life Science Research
SamplePreparation
AssayTechnology
DetectionPlatform
Growth Drivers
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Market leadership in preanalytical solutions
Technology leadership in preanalytical solutions
Expanding leadership in protein sample preparation
Complete portfolio for all markets and segments
Leadership in research markets with PCR and other bioassay technologies
Leading in assays in molecular diagnostics
QIAGEN 2006
Sample and Assay Technology Leadership
Growth Drivers
AssayTechnology
DetectionPlatform
CollectionStabilization
SamplePreparation
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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
Technology Leadership
QIAGEN Strong Financial Base – Exciting Model Financials
Financials
W W W . Q I A G E N . C O MW W W . Q I A G E N . C O M- 26 -
200
250
300
350
400
450
500
2001 2002 2003 2004 2005 2006E
QIAGEN Revenue Recognition 2001 – 2006E
5-year CAGR* = 13%
* CAGR 2001-2005
US$ millions
QIAGEN – Continuous Double Digit Revenue Growth Rates
Financials
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QIAGEN Operating Margins 2001 – 2006E
QIAGEN – Strong Operating Margin Improvement
15
17
19
21
23
25
27
29
2001 2002 2003 2004 2005 2006E
% of revenues
26%-28%
All figures excluding acquisition, integration and relocation related charges as well as amortizationof acquired IP and equity-based compensation (SFAS 123R)
Financials
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QIAGEN Net Income 2001 – 2006E
30
40
50
60
70
80
90
2001 2002 2003 2004 2005 2006E
5-year CAGR* = 24%
* CAGR 2001-2005
US$ millions
QIAGEN – Strong Earnings Engine
US$ 0.46EPS US$ 0.52-US$ 0.56
US$ 0.39US$ 0.32US$ 0.23US$ 0.25
All figures excluding acquisition, integration and relocation related charges as well as amortizationof acquired IP and equity-based compensation (SFAS 123R)
Financials
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0.30Cash EPS2
exceeded0.400.36-0.39EPS, adj. (US$)3
In line26%25-27%Operating margin, adj.2exceeded340324-333Net sales
ReportedTarget1In US$ millions unless indicated
QIAGEN Well on Track to Achieve Full Year Guidance
QIAGEN First Nine Months 2006 at a Glance
1 based on quarterly guidance communicated by the company on May 9th
2 excluding acquisition, integration and relocation related charges as well as amortization ofacquired IP and equity-based compensation (SFAS 123R)
3 computed using net cash provided by operating activities divided by number of fully diluted shares
Financials
W W W . Q I A G E N . C O MW W W . Q I A G E N . C O M- 30 -
250
300
350
Revenues9M 2005*
Price Volume Newproducts
Acquisitions/Divestments
Exchangerates
Revenues9M 2006
0
Organic Growth 10%
~ 2%
~ 4%
~ 4%
~ 16%~ 7%
US$M
Organic Growth Drivers in the First Nine Months
Outperforming the IndustryAverage Organic Growth Rate of 5%* in Q3.
* Industry including.: Beckman, Bruker, Strategene, BioRad, Mettler, ABI, Affymetrix, Fisher, Walers, Thermo, Techne,Invitrogen, Sigma, QIAGEN, Millipore, Roche Applied Science, Tecan
Source: Company data, Analyst reports
Financials
~ 1%
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68%
25%
17%
70%
26%
18%
Gross margin* Operating incomemargin*
Net income margin*
9M 2005
9M 2006
Gross margin driven by increasing high margin consumable business
* excluding acquisition, integration and relocation related charges as well as amortization ofacquired IP and equity-based compensation (SFAS 123R)
QIAGEN Margin DevelopmentDriving Profitability
+19%
+17%+23%
Financials
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Free cash flow computed using cash from operations less capital expendituresCash EPS computed using cash from operations divided by number of fully diluted shares
Inventory Days: 148Receivables – DSO: 62
0.130.15Cash EPS in US$ per share
16.6315.98Free cash flow
(2.60)(7.67)Capital expenditures
19.2323.65Operating cash flow
(4.72)(3.61)Others0.03-Non cash items related to acquisitions6.287.90Depreciation & amortization
17.6419.36Net income
Q3 2005Q3 2006In US$ millions unless indicated
Cash Flow StatementFinancials
W W W . Q I A G E N . C O MW W W . Q I A G E N . C O M- 33 -
No Impact on Net Income or EPSDue to a Complete Natural Hedge
Currency Impact on Third Quarter Ratios
1 excluding acquisition, integration and relocation related charges as well as amortization ofacquired IP and equity-based compensation (SFAS 123R)
115.8117.9Net sales (US$ millions)
69%69%Gross margin1
0.140.14EPS, adj. in US$ per share1
19%19%Net income margin1
26%26%Operating income margin1
Constant Currency(Q3 2005 €/US$ 1.22)
Reported(€/US$ 1.27)
2006 Q32006 Q3
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Executing on Plans – Expanding – Setting Standards
Summary
Strong first nine months 2006
Exceeded 9M revenue targets
EPS YTD 21% growth compared to 2005
Operating income margin (adj.) 26%
Well on track to achieve full year guidance
Strategic positioning and momentum strong
Molecular Diagnostics
Applied testing
Focused on core competencies
Present in key markets directly (i.e. 2005/06 Asia expansion)
Strong growth engine
Developed: 53 new products in first nine months 2006,approx. 4-5% of sales from new products
Partnered: >50 academic, >50 commercial partnerships
Acquired:
Gentra Systems – Large volume sample preparation (Q2 06)
Genaco Biomedical Products – Multiplexing PCR-testing (Q4 06)
Summary