Stevanato Group S.p.A. (NYSE: STVN), a leading global provider
of drug containment, drug delivery, and diagnostic solutions to the
pharmaceutical, biotechnology, and life sciences industries, today
announced its financial results for the third quarter of 2024.
Third Quarter 2024 Highlights
- Revenue for the third quarter of 2024 increased 2% to €277.9
million, compared with the same period last year, and high-value
solutions represented 36% of total revenue.
- For the third quarter, diluted earnings per share were €0.11
and adjusted diluted earnings per share were €0.12.
- Adjusted EBITDA margin for the third quarter was 22.9%.
- The Company is maintaining its fiscal year 2024 revenue
guidance and continues to expect revenue in the range of €1,090
million to €1,110 million. The Company is lowering its adjusted
EBITDA guidance to a range of €257 million to €263 million, and its
adjusted diluted EPS guidance to a range of €0.47 to €0.49.
Third Quarter 2024 Results
For the third quarter of 2024, revenue increased 2% (3% on a
constant currency basis) compared with the same period last year,
to €277.9 million, driven by a 6% increase in the Biopharmaceutical
and Diagnostic Solutions (BDS) Segment, which offset a 15% decline
in the Engineering Segment.
Revenue from high-value solutions increased to 36% of total
revenue in the third quarter of 2024, compared with 32% for the
same period last year, driven primarily by increased customer
demand for high-performance syringes, and to a lesser extent, other
products. As expected, lower revenue from EZ-fill® vials
unfavorably impacted the mix within high-value solutions for the
third quarter of 2024.
Gross profit margin for the third quarter of 2024 decreased to
26.8%, compared with 30.5% for the same period last year, primarily
due to (i) the effects of vial destocking, including
underutilization of vial lines, as well as lower revenue from more
accretive EZ-fill® vials, (ii) the ongoing temporary inefficiencies
related to the start-up of the Company's new U.S. manufacturing
facility as well as higher costs as the Company increases its
validation activities, and (iii) higher costs in the Engineering
Segment as the Company advances its business optimization plan.
For the third quarter of 2024, operating profit margin decreased
to 14.8%, compared with 18.8% for the same period last year, driven
primarily by the reduction in gross profit.
Franco Stevanato, Chief Executive Officer, stated, "While we are
maintaining our revenue guidance, we are lowering our adjusted
EBITDA and adjusted diluted EPS guidance to reflect higher costs
predominantly in the Engineering Segment as we advance our business
optimization plan, and to a lesser extent higher costs as we
increase our validation activities. We remain focused on execution,
and we are making progress on many fronts. Our growth investments
are currently ramping, and in the third quarter our Latina project
was profitable at the gross profit level, while in Fishers, we
launched commercial production and generated our first commercial
revenue. In Engineering, the actions we have taken have helped us
to complete a handful of highly complex projects for key customers
that were previously delayed. The effects of destocking are
expected to gradually improve into 2025, as we are starting to see
some signs of stabilization in vial demand as customers work down
inventories."
Biopharmaceutical and Diagnostic Solutions Segment
(BDS)
For the third quarter of 2024, revenue from the BDS Segment grew
6% to €233.0 million (7% on a constant currency basis), compared
with the same period last year, driven primarily by growth in
high-value syringes and other products, which was offset by a 38%
decline in revenue attributable to vials. The decline was more
pronounced in more accretive EZ-fill® vials.
Revenue from high-value solutions increased 17% to €100.4
million, while revenue from other containment and delivery
solutions was €132.6 million and consistent with the same period
last year.
Gross profit margin for the BDS Segment decreased to 28% for the
third quarter of 2024, mostly due to the expected temporary effects
from (i) vial destocking, and (ii) inefficiencies and higher costs
tied to the start-up phase of the Company's new manufacturing
facility in the United States.
Engineering Segment
For the third quarter of 2024, revenue from the Engineering
Segment decreased 15% to €44.8 million, compared with the same
period last year.
The Company remains focused on executing a large volume of work
currently in progress and implementing its business optimization
plan, which is designed to address the current challenges, improve
the overall health of the business and return the business to
profitable growth.
For the third quarter of 2024, gross profit margin decreased to
15.6%, compared with 18.5% for the same period last year, driven by
higher costs related to certain highly complex projects and
expenses tied to our business optimization plan.
Balance Sheet and Cash Flow
As of September 30, 2024, the Company had cash and cash
equivalents of €78.0 million and net debt of €284.3 million. The
Company believes that it has available liquidity to fund its
strategic priorities over the next twelve months through a
combination of cash on hand, available credit, cash generated from
operations, and the ability to access additional financing.
As expected, capital expenditures for the third quarter of 2024
totaled €58.8 million, as the Company continues to ramp-up capacity
in response to customer demand for high-value solutions in Fishers,
Indiana and Latina, Italy.
For the third quarter of 2024, cash flow from operating
activities was €18.3 million. For the third quarter of 2024, cash
flow used for the purchase of property, plant, and equipment, and
intangible assets totaled €47.8 million, driven primarily by
capital expenditures supporting strategic initiatives. This
resulted in negative free cash flow of €28.4 million for the third
quarter of 2024.
Updated 2024 Guidance
The Company is maintaining its full year 2024 revenue guidance
and continues to expect revenue in the range of €1,090 million to
€1,110 million.
The Company is lowering its guidance for adjusted EBITDA and for
adjusted diluted earnings per share to reflect higher costs and now
expects:
- Adjusted EBITDA in the range of €257 million to €263 million,
and
- Adjusted diluted EPS in the range of €0.47 to €0.49.
Franco Stevanato, concluded, "Our long-term prospects remain
bright and there is much to be excited about. We operate in growing
end markets and we continue to deliver organic growth, primarily
driven by high-value solutions, the main pillar of our long-range
construct. This confirms our strategy that we are investing in the
right areas to meet growing customer demand for high-value
solutions, driven by strong secular tailwinds. We aim to capitalize
on favorable demand trends and set the path to durable organic
growth and expanding margins which will drive shareholder
value."
Conference call: The Company will host a conference call
and webcast at 8:30 a.m. (ET) on Tuesday, November 5, 2024, to
discuss financial results. During the call, management will refer
to a slide presentation which will be available on the morning of
the call on the “Financial Results” page under the Investor
Relations section of the Company's website.
Pre-registration: Participants who pre-register will be
given a conference passcode and unique PIN to gain immediate access
to the call and bypass the live operator. We encourage participants
to pre-register for the conference call using the following link:
STVN conference call pre-registration.
Webcast: A live, listen-only webcast of the call will be
available at the following link: STVN webcast.
Dial in: Those who are unable to pre-register may dial in
by calling:
Italy:
+39 02 802 09 11
United Kingdom:
+44 1 212 818004
United States:
+1 718 705 8796
United States Toll Free:
+1 855 265 6958
Questions during the call: Participants who wish to ask
questions during the call should use the HD webphone link:
https://hditalia.choruscall.com/?$Y2FsbHR5cGU9MiZpbmZvPWNvbXBhbnk=.
Replay:
The webcast will be archived for three months on the Company’s
Investor Relations section of its website.
Forward-Looking Statements
This press release may include forward-looking statements. The
words "continues,” “expect,” “ongoing,” “advances,” "increase,"
“remain,” “are making,” “are ramping,” “remains,” “believes,”
“increases,” "aim," “maintaining,” “growing,” “durable,”
“expanding,” “drive,” "currently", and similar expressions (or
their negative) identify certain of these forward-looking
statements. These forward-looking statements are statements
regarding the Company's intentions, beliefs or current expectations
concerning, among other things, the Company's future financial
performance, including revenue, operating expenses and ability to
maintain profitability and operational and commercial capabilities;
the Company's expectations regarding the development of the
industry and the competitive environment in which it operates; the
expansion of the Company's plants and its expectations to increase
production capacity; the global supply chain and the Company's
committed orders; customer demand and customers' ability to destock
higher inventories accumulated during the COVID-19 pandemic; the
success of the Company's initiatives to optimize the industrial
footprint, harmonize processes and enhance supply chain and
logistics strategies; the Company's geographical and industrial
footprint; and the Company's goals, strategies and investment
plans. The forward-looking statements in this press release are
based on numerous assumptions regarding the Company’s present and
future business strategies and the environment in which the Company
will operate in the future. Forward-looking statements involve
inherent known and unknown risks, uncertainties and contingencies
because they relate to events and depend on circumstances that may
or may not occur in the future and may cause the actual results,
performance or achievements of the Company to be materially
different from those expressed or implied by such forward looking
statements. Many of these risks and uncertainties relate to factors
that are beyond the Company's ability to control or estimate
precisely, such as conditions in the U.S. capital markets, negative
global economic conditions, inflation, the impact of the conflict
between Russia and the Ukraine, the evolving events in Israel and
Gaza, supply chain and logistical challenges and other factors such
as the Company's ability to continue to obtain financing to meet
its liquidity needs, changes in the geopolitical, social and
regulatory framework in which the Company operates or in economic
or technological trends or conditions. For a description of the
risks that could cause the Company’s future results to differ from
those expressed in any such forward looking statements, refer to
the risk factors discussed in our most recent annual report on Form
20-F filed and our most recent filings with the U.S. Securities and
Exchange Commission. Readers should therefore not place undue
reliance on these statements, particularly not in connection with
any contract or investment decision. Except as required by law, the
Company assumes no obligation to update any such forward-looking
statements.
Non-GAAP Financial Information
This press release contains non-GAAP financial measures. Please
refer to the tables included in this press release for a
reconciliation of non-GAAP financial measures.
Management monitors and evaluates our operating and financial
performance using several non-GAAP financial measures, including
Constant Currency Revenue, EBITDA, Adjusted EBITDA, Adjusted EBITDA
Margin, Adjusted Operating Profit, Adjusted Operating Profit
Margin, Adjusted Income Taxes, Adjusted Net Profit, Adjusted
Diluted EPS, Capital Employed, Net Cash/Net Debt, Free Cash Flow,
and CAPEX. The Company believes that these non-GAAP financial
measures provide useful and relevant information regarding its
performance and improve its ability to assess our financial
condition. While similar measures are widely used in the industry
in which the Company operates, the financial measures it uses may
not be comparable to other similarly titled measures used by other
companies, nor are they intended to be substitutes for measures of
financial performance or financial position as prepared in
accordance with IFRS.
About Stevanato Group
Founded in 1949, Stevanato Group is a leading global provider of
drug containment, drug delivery and diagnostic solutions to the
pharmaceutical, biotechnology and life sciences industries. The
Group delivers an integrated, end-to-end portfolio of products,
processes, and services that address customer needs across the
entire drug life cycle at each of the development, clinical and
commercial stages. Stevanato Group’s core capabilities in
scientific research and development, its commitment to technical
innovation, and its engineering excellence are central to its
ability to offer value added solutions to clients. To learn more,
visit: www.stevanatogroup.com.
Consolidated Income
Statement
(Amounts in € millions, except
per share data)
For the three months
For the nine months
ended September 30,
ended September 30,
2024
%
2023
%
2024
%
2023
%
Revenue
277.9
100.0
%
271.4
100.0
%
773.4
100.0
%
764.7
100.0
%
Costs of sales
203.4
73.2
%
188.5
69.5
%
569.3
73.6
%
526.6
68.9
%
Gross Profit
74.4
26.8
%
82.9
30.5
%
204.2
26.4
%
238.1
31.1
%
Other operating Income
1.3
0.5
%
2.2
0.8
%
3.6
0.5
%
7.4
1.0
%
Selling and Marketing Expenses
5.8
2.1
%
5.0
1.8
%
19.0
2.5
%
17.8
2.3
%
Research and Development Expenses
6.6
2.4
%
8.7
3.2
%
26.1
3.4
%
25.6
3.3
%
General and Administrative Expenses
22.3
8.0
%
20.2
7.4
%
68.4
8.8
%
65.4
8.5
%
Operating Profit
41.0
14.8
%
51.2
18.8
%
94.3
12.2
%
136.7
17.9
%
Finance Income
6.8
2.4
%
4.8
1.8
%
13.6
1.8
%
15.9
2.1
%
Finance Expense
7.0
2.5
%
5.6
2.1
%
12.3
1.6
%
21.9
2.9
%
Profit Before Tax
40.8
14.7
%
50.4
18.6
%
95.6
12.4
%
130.7
17.1
%
Income Taxes
10.8
3.9
%
12.5
4.6
%
26.2
3.4
%
30.3
4.0
%
Net Profit
30.0
10.8
%
37.9
14.0
%
69.4
9.0
%
100.4
13.1
%
Earnings per share
Basic earnings per ordinary share
0.11
0.14
0.26
0.38
Diluted earnings per ordinary share
0.11
0.14
0.26
0.38
Average shares outstanding
272.9
264.9
270.5
264.8
Average shares assuming dilution
272.9
265.0
270.6
264.8
Reported Segment
Information
(Amounts in €
millions)
For the three months ended
September 30, 2024
Biopharmaceutical and
Diagnostic Solutions
Engineering
Adjustments, eliminations and
unallocated items
Consolidated
External Customers
233.0
44.8
—
277.9
Inter-Segment
1.8
48.6
(50.4
)
—
Revenue
234.9
93.4
(50.4
)
277.9
Gross Profit
65.9
14.6
(6.0
)
74.4
Gross Profit Margin
28.0
%
15.6
%
26.8
%
Operating Profit
39.7
9.5
(8.1
)
41.0
Operating Profit Margin
16.9
%
10.1
%
14.8
%
For the three months ended
September 30, 2023
Biopharmaceutical and
Diagnostic Solutions
Engineering
Adjustments, eliminations and
unallocated items
Consolidated
External Customers
218.9
52.5
—
271.4
Inter-Segment
0.6
33.9
(34.5
)
—
Revenue
219.5
86.4
(34.5
)
271.4
Gross Profit
71.8
16.0
(4.9
)
82.9
Gross Profit Margin
32.7
%
18.5
%
30.5
%
Operating Profit
46.6
9.7
(5.1
)
51.2
Operating Profit Margin
21.2
%
11.2
%
18.8
%
For the nine months ended
September 30, 2024
Biopharmaceutical and
Diagnostic Solutions
Engineering
Adjustments, eliminations and
unallocated items
Consolidated
External Customers
654.3
119.1
—
773.4
Inter-Segment
3.0
131.2
(134.2
)
—
Revenue
657.3
250.3
(134.2
)
773.4
Gross Profit
181.6
36.2
(13.7
)
204.2
Gross Profit Margin
27.6
%
14.5
%
26.4
%
Operating Profit
100.2
16.7
(22.6
)
94.3
Operating Profit Margin
15.2
%
6.7
%
12.2
%
For the nine months ended
September 30, 2023
Biopharmaceutical and
Diagnostic Solutions
Engineering
Adjustments, eliminations and
unallocated items
Consolidated
External Customers
619.3
145.4
—
764.7
Inter-Segment
1.4
126.2
(127.6
)
—
Revenue
620.7
271.6
(127.6
)
764.7
Gross Profit
202.7
56.9
(21.5
)
238.1
Gross Profit Margin
32.7
%
20.9
%
31.1
%
Operating Profit
125.9
38.1
(27.4
)
136.7
Operating Profit Margin
20.3
%
14.0
%
17.9
%
Cash Flow
(Amounts in €
millions)
For the three months ended
September 30,
For the nine months ended
September 30,
2024
2023
2024
2023
Cash flow from operating activities
18.3
33.5
112.1
95.0
Cash flow used in investing activities
(47.6
)
(132.2
)
(219.2
)
(328.9
)
Cash flow from financing activities
29.4
101.7
116.9
70.3
Net change in cash and cash
equivalents
0.1
2.9
9.9
(163.6
)
Non GAAP Financial Information
This press release contains non-GAAP financial measures. Please
refer to the "Non-GAAP Financial Information" and the tables
included in this press release for a reconciliation of non-GAAP
financial measures.
Reconciliation of Revenue to
Constant Currency Revenue
(Amounts in €
millions)
Three months ended September 30,
2024
Biopharmaceutical and
Diagnostic Solutions
Engineering
Reported Revenue (IFRS GAAP)
233.0
44.8
Effect of changes in currency translation
rates
1.7
—
Organic Revenue (Non-IFRS GAAP)
234.7
44.8
Nine months ended September 30,
2024
Biopharmaceutical and
Diagnostic Solutions
Engineering
Reported Revenue (IFRS GAAP)
654.3
119.1
Effect of changes in currency translation
rates
2.7
0.1
Organic Revenue (Non-IFRS GAAP)
657.0
119.2
Reconciliation of
EBITDA
(Amounts in €
millions)
For the three months ended
September 30,
Change
For the nine months ended
September 30,
Change
2024
2023
%
2024
2023
%
Net Profit
30.0
37.9
(20.8
)%
69.4
100.4
(30.9
)%
Income Taxes
10.8
12.5
(13.9
)%
26.2
30.3
(13.6
)%
Finance Income
(6.8
)
(4.8
)
41.1
%
(13.6
)
(15.9
)
(14.5
)%
Finance Expenses
7.0
5.6
26.1
%
12.3
21.9
(43.8
)%
Operating Profit
41.0
51.2
(19.8
)%
94.3
136.7
(31.0
)%
Depreciation and Amortization and
Impairment of PPE
18.4
20.5
(10.2
)%
60.9
58.4
4.3
%
EBITDA
59.5
71.7
(17.1
)%
155.2
195.1
(20.5
)%
Calculation of Net Profit
margin, Operating Profit Margin, Adjusted EBITDA Margin and
Adjusted Operating Profit Margin
(Amounts in €
millions)
For the three months ended
September 30,
For the nine months ended
September 30,
2024
2023
2024
2023
Revenue
277.9
271.4
773.4
764.7
Net Profit Margin (Net Profit/
Revenue)
10.8
%
14.0
%
9.0
%
13.1
%
Operating Profit Margin (Operating Profit/
Revenue)
14.8
%
18.8
%
12.2
%
17.9
%
Adjusted EBITDA Margin (Adjusted EBITDA/
Revenue)
22.9
%
27.5
%
21.8
%
26.8
%
Adjusted Operating Profit Margin (Adjusted
Operating Profit/ Revenue)
16.3
%
20.0
%
13.9
%
19.1
%
Reconciliation of Reported and
Adjusted EBITDA, Operating Profit, Income Taxes,
Net Profit, and Diluted
EPS
(Amounts in € millions, except
per share data)
Three months ended September 30,
2024
EBITDA
Operating Profit
Income Taxes (4)
Net Profit
Diluted EPS
Reported
59.5
41.0
10.8
30.0
0.11
Adjusting items:
Start-up costs new plants (1)
3.5
3.5
1.0
2.6
0.01
Restructuring and related charges (2)
0.5
0.5
0.1
0.4
0.00
Other severance costs (3)
0.2
0.2
0.1
0.2
0.00
Adjusted
63.7
45.2
11.9
33.1
0.12
Adjusted Margin
22.9
%
16.3
%
Three months ended September 30,
2023
EBITDA
Operating Profit
Income Taxes (4)
Net Profit
Diluted EPS
Reported
71.7
51.2
12.5
37.9
0.14
Adjusting items:
Start-up costs new plants (1)
2.8
2.8
0.7
2.1
0.01
Restructuring and related charges (2)
0.2
0.2
0.0
0.1
0.00
Adjusted
74.7
54.2
13.3
40.1
0.15
Adjusted Margin
27.5
%
20.0
%
Nine months ended September 30,
2024
EBITDA
Operating Profit
Income Taxes (4)
Net Profit
Diluted EPS
Reported
155.2
94.3
26.2
69.4
0.26
Adjusting items:
Start-up costs new plants (1)
9.2
9.2
2.5
6.7
0.02
Restructuring and related charges (2)
3.6
3.6
0.9
2.7
0.01
Other severance costs (3)
0.2
0.2
0.1
0.2
0.00
Adjusted
168.3
107.3
29.6
79.1
0.29
Adjusted Margin
21.8
%
13.9
%
Nine months ended September 30,
2023
EBITDA
Operating Profit
Income Taxes (4)
Net Profit
Diluted EPS
Reported
195.1
136.7
30.3
100.4
0.38
Adjusting items:
Start-up costs new plants (1)
9.4
9.4
2.5
6.9
0.03
Restructuring and related charges (2)
0.3
0.3
0.1
0.2
0.00
Adjusted
204.8
146.4
32.9
107.5
0.41
Adjusted Margin
26.8
%
19.1
%
(1) During the three and nine months ended September 30, 2024,
the Group recorded €3.5 million and €9.2 million, respectively, of
start-up costs for the new plants in Fishers, Indiana, United
States, and in Latina, Italy. During the three and nine months
ended September 30, 2023, the Group recorded €2.8 million and €9.4
million, respectively, of start-up costs for the new plants in
Fishers, Indiana, United States, and in Latina, Italy. These costs
are primarily related to labor costs incurred prior to the
commencement of commercial operations that are associated with
recruiting, hiring, training and travel expenses of personnel.
(2) During the three and nine months ended September 30, 2024,
the Group recorded €0.5 million and €3.6 million, respectively, of
restructuring and related charges among general and administrative
expenses and research and development expenses. During the three
and nine months ended September 30, 2023, the Group recorded €0.2
million and €0.3 million, respectively, of restructuring and
related charges among general and administrative expenses. These
charges are mainly employee costs related to the reorganization of
certain business functions.
(3) During the three and the nine months ended September 30,
2024, the Group recorded €0.2 million related to personnel
expenses, including other severance costs.
(4) The income tax adjustment is calculated by multiplying the
applicable nominal tax rate to the adjusting items.
Capital Employed
(Amounts in €
millions)
As of September 30,
2024
As of December 31,
2023
- Goodwill and intangible assets
83.1
81.0
- Right of Use assets
16.8
18.2
- Property, plant and equipment
1,157.7
1,028.5
- Financial assets - investments FVTPL
0.2
0.7
- Other non-current financial assets
5.5
4.5
- Deferred tax assets
87.0
76.3
Non-current assets excluding FV of
derivative financial instruments
1,350.3
1,209.2
- Inventories
286.6
255.3
- Contract Assets
166.0
172.6
- Trade receivables
268.1
301.8
- Trade payables
(246.1
)
(277.8
)
- Advances from customers
(7.0
)
(22.9
)
- Non-current advances from customers
(51.0
)
(39.4
)
- Contract Liabilities
(23.2
)
(22.3
)
Trade working capital
393.3
367.2
- Tax receivables and Other
receivables
62.3
58.2
- Tax payables and Other current
liabilities
(123.2
)
(107.0
)
- Current provisions
(1.9
)
(1.1
)
Net working capital
330.4
317.4
- Deferred tax liabilities
(10.8
)
(9.6
)
- Employees benefits
(7.2
)
(7.4
)
- Non-current provisions
(3.9
)
(4.0
)
- Other non-current liabilities
(52.2
)
(48.5
)
Total non-current liabilities and
provisions
(74.1
)
(69.5
)
Capital employed
1,606.6
1,457.1
Net (debt) /cash
(284.3
)
(324.4
)
Total Equity
(1,322.3
)
(1,132.6
)
Total equity and net (debt)/
cash
(1,606.6
)
(1,457.1
)
Free Cash Flow
(Amounts in €
millions)
For the three months ended
September 30,
For the nine months ended
September 30,
2024
2023
2024
2023
Net cash flow from operating
activities
18.3
33.5
112.1
95.0
Interest paid
1.5
1.0
3.8
2.4
Interest received
(0.5
)
(0.1
)
(1.7
)
(0.7
)
Purchase of property, plant and
equipment
(44.6
)
(131.3
)
(213.7
)
(351.2
)
Proceeds from sale of property, plant and
equipment
0.1
0.1
3.1
0.1
Purchase of intangible assets
(3.2
)
(1.0
)
(8.7
)
(3.6
)
Free Cash Flow
(28.4
)
(97.8
)
(105.0
)
(257.9
)
Net (Debt) / Net Cash
(Amounts in €
millions)
As of September 30,
As of December 31,
2024
2023
Non-current financial liabilities
(289.4
)
(255.6
)
Current financial liabilities
(75.6
)
(143.3
)
Other non-current financial assets - Fair
value of derivatives financial instruments
—
0.6
Other current financial assets
2.6
4.4
Cash and cash equivalents
78.0
69.6
Net (Debt)/ Cash
(284.3
)
(324.4
)
CAPEX
(Amounts in €
millions)
For the three months ended
September 30,
Change
For the nine months ended
September 30,
Change
2024
2023
€
2024
2023
€
Addition to Property, plants and
equipment
55.6
106.2
(50.6
)
197.9
355.0
(157.1
)
Addition to Intangible Assets
3.2
1.0
2.2
8.7
3.6
5.1
CAPEX
58.8
107.2
(48.4
)
206.6
358.5
(152.0
)
Reconciliation of 2024
Guidance (Updated)
Reported and Adjusted EBITDA,
Operating Profit, Net Profit, Diluted EPS
(Amounts in € millions, except
per share data)
Revenue
EBITDA
Operating Profit
Net Profit *
Diluted EPS
Reported
1,090.0 - 1,110.0
239.9 - 245.9
155.8 - 161.8
115.0 - 119.4
0.42 - 0.44
Adjusting items
—
17.1
17.1
12.7
0.05
Adjusted
1,090.0 - 1,110.0
257.0 - 263.0
172.9 - 178.9
127.6 - 132.1
0.47 - 0.49
*Amounts may not add due to rounding
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241105298990/en/
Media Stevanato Group media@stevanatogroup.com
Investor Relations Lisa Miles
lisa.miles@stevanatogroup.com
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