Qiagen reports a surprisingly strong quarter at the end of the year.
(Photo: dpa)
Frankfurt The diagnostics group Qiagen made a spurt to the end of the year and exceeded its targets. Sales grew in the fourth quarter by two percent to $ 582 million, at constant exchange rates there was an increase of four percent, as the Dax company announced on Tuesday evening. Adjusted earnings per share increased 10 percent to 75 cents. Originally, Qiagen had expected sales to decline by around 9 percent at constant exchange rates and adjusted earnings per share to be at least 60 cents for the quarter. The group benefited from good business in non-Covid-19-related products, while sales of corona test products fell in the fourth quarter.
For the year as a whole, Qiagen exceeded its forecasts and achieved a sales increase of 19 percent at constant exchange rates to 2.2 billion dollars. Adjusted earnings per share rose 22 percent to $2.63, net income increased 43 percent to $513 million. “Qiagen is well positioned for strong medium-term growth,” said CEO Thierry Bernard with confidence. In 2022, however, he expects sales to drop to at least $2.07 billion. Earnings per share will drop to at least $2.05.
While business with non-Covid-related products is likely to see double-digit growth this year, Qiagen expects a significant decline in corona products given the uncertainty about the further course of the pandemic. In the first quarter, however, the group expects overall sales growth of at least seven percent, adjusted earnings per share should amount to at least 72 cents.
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