• The return of capital to be carried out through synthetic share repurchase ” combines a rapid direct payment of capital to shareholders with a reverse stock split that improves EPS

• The return of up to $300 million “maximum approved by shareholders” is set to be completed by late January 2025

• Building on approximately $300 million returned to shareholders in early 2024 as part of a commitment to return at least $1 billion by the end of 2028

VENLO, Netherlands–(BUSINESS WIRE)–QIAGEN NV (NYSE: QGEN; Frankfurt Prime Standard: QIA) today announced a new return plan of approximately $300 million (maximum EUR 281 million) to to shareholders through a synthetic share repurchase that combines a direct capital payment with a reverse stock split.

This new buyback comes after QIAGEN returned approximately $300 million to shareholders in early 2024 through a synthetic share buyback. Together, these two programs represent $600 million in a commitment to return at least $1 billion to shareholders by the end of 2028 (excluding M&A opportunities).

QIAGEN decided to implement the maximum $300 million value of the mandate given at the Annual General Meeting in June 2024, where shareholders gave almost unanimous approval for the relevant resolutions.

This approach is designed to return cash to shareholders in a faster and more efficient manner than a traditional open market repurchase program. It will also improve earnings per share (EPS) by reducing outstanding shares.

QIAGEN has a proven track record of delivering on our commitments from our diverse portfolio, and this includes using our healthy balance sheet to grow our business while increasing shareholder returns, said Thierry Bernard, CEO of QIAGEN. This new purchase marks an important step in creating value for our shareholders and other stakeholders as we implement our 2028 ambitions to deliver strong profitable growth.

Roland Sackers, Chief Financial Officer of QIAGEN, said: Our synthetic share repurchase structure is a well-known and proven method to increase value used by many Dutch companies. QIAGEN will continue to have a strong investment grade profile following this repurchase in early 2025. We are exploring various targeted M&A opportunities and organic growth investments that will help us achieve ot our commitments for strong profitable growth.

This type of share repurchase involves three steps:

The synthetic share repurchase will be effective on January 28, 2025, and will be settled in accordance with the market convention in the following days. More information about this process will be announced before implementation.

About QIAGEN

QIAGEN NV, a holding company based in the Netherlands, is the leading global provider of Sample to Insight solutions that enable customers to gain valuable molecular insights from samples containing the building blocks of life. Our sampling technologies isolate and process DNA, RNA and proteins from blood, tissue and other materials. Assay technologies make these biomolecules visible and ready for analysis. Bioinformatics software and knowledge bases interpret data to report relevant, actionable insights. Automation solutions combine these with seamless and cost-effective workflows. QIAGEN provides solutions to more than 500,000 customers worldwide in Molecular Diagnostics (human healthcare) and Life Sciences (academia, pharma R&D and industrial applications, primarily forensics). As of September 30, 2024, QIAGEN employs more than 5,800 people in more than 35 locations worldwide. More information can be found at https://www.qiagen.com.

Forward-Looking Statement

Certain statements contained in this news release may be considered forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933, as amended, and Section 21E of the US Securities Exchange Act of 1934, as amended. To the extent that any statements contained herein relate to QIAGEN products, including products used in response to the COVID-19 pandemic, timing of launch and development, marketing approval and/or regulation, financial and operational outlook, growth and expansion. , collaborations, markets, strategy or operating results, including without limitation expected adjusted net sales and adjusted diluted earnings results, are forward-looking, such statements are based on current expectations and assumptions that involve many uncertainties and risks. Such uncertainties and risks include, but are not limited to, risks related to managing growth and international operations (including the effects of currency fluctuations, regulatory processes and trust in logistics), diversity of operating results and allocations between customer types, the commercial development of markets for our products to customers in academia, pharma, applied testing and molecular diagnostics ; changing relationships with customers, suppliers and strategic partners; competition; rapid or unexpected changes in technologies; fluctuations in demand for QIAGEN products (including fluctuations due to general economic conditions, the level and timing of customer financing, budgets and other factors); our ability to obtain regulatory approval of our products; difficulties in successfully adapting QIAGEN products into integrated solutions and manufacturing such products; QIAGEN’s ability to identify and develop new products and to differentiate and protect our products from competitors’ products; market acceptance of QIAGEN’s new products and the integration of acquired technologies and businesses; actions of governments, global or regional economic development, weather or transportation delays, natural disasters, political or public health crises, including the extent and duration of the COVID-19 pandemic and its impact on demand for our products and other aspects of our business, or other force majeure events; as well as the possibility that anticipated benefits related to new or pending acquisitions may not materialize as anticipated; and the other factors discussed under the heading Risk Factors contained in Item 3 of our most recent Annual Report on Form 20-F. For more information, please see the discussions in the reports filed by QIAGEN with, or provided to, the US Securities and Exchange Commission.

Source: QIAGEN NV
Category: Financial

See the original version on businesswire.com: https://www.businesswire.com/news/home/20250112318507/en/

QIAGEN:

IInvestor relations
John Gilardi +49 2103 29 11711
Domenica Martorana +49 2103 29 11244
e-mail: [email protected]

Public Relations
Thomas Theuringer +49 2103 29 11826
Lisa Specht +49 2103 29 14181
e-mail: [email protected]

Source: QIAGEN NV