Recent Updates
Recently added Catalysts
STVN Positive Sentiment Score: 75/100

Forward-Looking Statements This presentation may include forward-looking statements. The words "expect," "growth", "drive," "create," "well positioned," "continues," "remain," "estimate," "'deliver", "accelerating", "sus

Key Takeaway: Stevanato Group reported strong financial results for Q4 and FY2022, highlighting a 17% year-over-year revenue growth and an increase in adjusted EBITDA margin. The company is well positioned to capitalize on favorable market demand, especially in high-value solutions, as it continues to expand its manufacturing capacity in the U.S. and Italy. Future investments are aimed at meeting projected growth in biologics and enhancing production capabilities with market-specific innovations.

Market Sentiment Analysis

POSITIVE FACTORS

  • Stevanato Group expecting continuous growth due to favorable market conditions.
  • Projected double-digit revenue growth and improved margins for FY2022.
  • Investments are being made in high-value solutions and product innovation.
  • Strong demand for specialized drug containment expected to drive future success.

Full Press Release Details

Stevanato Group Q4 and Full Year 2022
Financial Results March 2nd, 2023 Exhibit 99.1
Forward-Looking Statements This
presentation may include forward-looking statements. The words "expect," "growth", "drive," "create," "well positioned," "continues," "remain,"
"estimate," "'deliver", "accelerating", "sustained", "building", "believe", "future" 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 investments the Company expects to make, the expansion of manufacturing capacity, the Company's plans regarding its presence in
the U.S., its capital expenditures guidance, business strategies, the Company's capacity to meet future market demands and support preparedness for future public health emergencies, and results of operations. The forward-looking statements in
this presentation 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 future market conditions, currency
fluctuations, the behavior of other market participants, the actions of regulators and other factors such as the Company's ability to continue to obtain financing to meet its liquidity needs, changes in the political, 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 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 presentation contains non-GAAP financial measures. Please refer to the tables
included in this presentation for a reconciliation of non-GAAP financial measures. Management monitors and evaluates its 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 Net Profit, Adjusted Diluted EPS, Capital Employed, Net Cash, 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 its 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. Safe Harbor
Statement Q4 and Full Year 2022 Financial Results
Stevanato Group Q4 and Full Year 2022
Financial Results Earnings Call Franco Stevanato Executive Chairman Franco Moro CEO Marco Dal Lago CFO Lisa Miles SVP IR Q4 and Full Year 2022 Financial Results
Franco Stevanato Executive Chairman Q4
and Full Year 2022 Financial Results
FY 2022: Building Track Record of
Excellence with Bright Outlook for Sustained Future Growth The collective efforts of our employees worldwide led to outstanding execution in 2022, building a track record of consistent delivery Well positioned against a backdrop of favorable demand,
and the fundamentals of our business remain strong Entering 2023, expect to benefit from secular tailwinds in high growth end markets with opportunities across a broad range of therapeutic areas such as GLP1s, monoclonal antibodies and mRNA
applications Seeing trends toward sustained, robust demand for high-performance drug containment: modified our investment plans to maximize this opportunity Management team and board of directors are fully aligned on capitalizing on our future
growth prospects We are investing in the business, people, products, and scientific innovation to deliver durable organic growth and long-term shareholder value __________ *Adjusted EBITDA and adjusted EBITDA margin are non-GAAP
financial measures. Please refer to slides 20-27 for a reconciliation of non-GAAP measures Q4 and Full Year 2022 Financial Results 2022 OBJECTIVE KPI FY 2022 FY 2021 FY 2020 FY 2019 Double-digit revenue growth Revenue ( M) 984 844 662
537 yoy growth +17% +27% +23% - Increasing mix of HVS HVS share of Revenues 30% 25% 22% 17% Expanding margins Gross profit margin 32.5% 31.4% 29.3% 25.7% yoy growth +110 bps +210 bps +360 bps - Adj. EBITDA margin* 26.8% 25.9% 24.2% 20.2%
yoy growth +90 bps +170 bps +400 bps - Capacity expansion well underway Fishers, IN (U.S.) : validation activities exp. in Q4 2023 Piombino Dese (IT) : started comm. production Latina (IT) : comm. production start exp. by Q4 2023
Franco Moro Chief Executive Officer Q4
and Full Year 2022 Financial Results
A Strong Finish in 2022 2022 Key
Performance Indicators 983.7M Revenue 17% Y-o-Y Revenue Growth 263.6M Adj. EBITDA* 26.8% Adj. EBITDA Margin* 0.54 Diluted EPS ~ 237M Q4 2022 New Order Intake ~ 957M Backlog at year-end 2022 ~30% Revenue from HVS
on FY 2022 0.56 Adj. Diluted EPS* ~41% increase in 2022 high value solutions revenue to record 293.3M Committed backlog increased 9% versus prior year, partially offset by drop in Covid-19 orders. Excluding Covid-19, backlog
increased 21% versus last year reflecting favorable demand for new customer programs Q4 and Full Year 2022 Financial Results Double- digit growth, expanding margins, growing mix of high value solutions __________ *Adjusted DEPS, adjusted EBITDA and
adjusted EBITDA margin are non-GAAP financial measures. Please refer to slides 20-27 for a reconciliation of non-GAAP measures
Successful Progression against our
Strategic Pillars in 2022 Multi-Year Pipeline HVS Growth Global Expansion R&D Innovation As we further advance these strategic imperatives in 2023, we expect that our efforts will yield sustainable organic growth in years to come Q4 and
Full Year 2022 Financial Results Advanced buildout of industrial footprint to add capacity in premium products Signed an agreement with BARDA to further expand vial capacity in Fishers (U.S.) Grew mix of High Value Solutions New treatment classes
(biologics) require specialized drug containment to ensure highest integrity and we remain ideally positioned to capitalize on this trend Launched next generation EZ-fill smart vial platform Advanced our portfolio of Drug Delivery Systems
Partnered with Transcoject to expand our syringe portfolio with COC and COP pre-filled syringes Strong multi-year opportunities in high growth end markets like biologics
Refining Capital Spending Plans Amid
Rising Demand: Fishers, IN Q4 and Full Year 2022 Financial Results In U.S. and Europe, future demand has outpaced our expectations Working alongside customers to better address needs; with added visibility, we are accelerating investments in Fishers
to capitalize on elevated demand outlook led by biologics Concurrently, tapping the brakes on China to prioritize projects in U.S. and Italy Updated plan adapts for favorable market trends Adding 60% more syringe capacity compared to initial
plan, including high-performance Alba syringes Doubling site capacity for ready-to-use vials for commercial launch of next generation EZ-fill SMART platform RENDERING as of Feb. 2023 ( Million) Fishers CapEx Crosswalks* - FY
2021-26 Contribution from Barda __________ *Rounded figures
Maximizing Industrial Footprint to
Capitalize on Demand Q4 and Full Year 2022 Financial Results Latina Piombino Dese Fishers, IN New building completed: started first commercial batch production Completed largest cycle of CapEx: commercial production exp. in fall 2023. Exp. temporary
inefficiencies through natural progression of start-up activities 2023 2024 2025 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Zhangjiagang Decelerating Zhangjiagang site project timing while China remains strategically important. Existing operations
sufficient to serve region in near-term We are prioritizing CapEx projects in the U.S. and Europe to match capacity with customers' most pressing needs RENDERING RENDERING Validation activities Commercial production
Marco Dal Lago Chief Financial
Officer Q4 and Full Year 2022 Financial Results
Q4 2022: Financial Highlights Q4
2022 Revenue increase driven by organic growth in both segments, shift toward HVS and positive FX effect (on constant currency basis, +23% yoy) Top-line results better than expected due to the timing of revenue previously forecasted in Q1 2023;
including revenue from certain Engineering projects and Covid-19 Covid represented ~12% of revenue Revenue from HVS increased 31% to 87.2M Q4 2022 Gross Profit Margin increased 290 basis points to 34.3%, due to higher revenue, a favorable
mix, better leverage of fixed costs and the recovery of inflationary costs Q4 2022 Operating Profit Margin increased to 21.6%, (includes benefit of 3M in other income for a joint development project) Excluding start-up costs on new plants,
adjusted operating profit margin* was 22.8% vs. 18.8% in 2021 On the bottom line, this resulted in Better-than-expected Net Profit of 48.3M, or 0.18 of diluted EPS Adjusted Net Profit* of 49.6M, or 0.19 of adjusted
diluted EPS* Adjusted EBITDA* of 81.9M; adjusted EBITDA margin* of 28%, up 270 bps yoy Q4 and Full Year 2022 Financial Results () () () () __________ *Adjusted operating profit margin, adjusted net profit, adjusted DEPS, adjusted EBITDA and
adjusted EBITDA margin are non-GAAP financial measures. Please refer to slides 20-27 for a reconciliation of non-GAAP measures HVS share of Revenue ( Million) Q4 2022 Revenue 29% 30% Q4 2022 Margins Q4 2022 Q4 2021 Gross Profit Margin 34.3%
31.4% Operating Profit Margin 21.6% 18.7%
Full Year 2022: Financial Highlights
2022 Revenue increase driven by organic growth in both segments, shift toward HVS and positive FX effect (on constant currency basis, +13% yoy) Revenue from HVS increased 41% to record 293.2M Covid revenue decreased to 11% of 2022 revenue vs
15% in 2021; successfully backfilling with new projects across a range of therapeutic areas 2022 Gross Profit Margin increased 110 basis points to 32.5%, mostly due to revenue growth, favorable mix shift, and operational efficiencies While
nearly all inflationary costs were recovered through price adjustments, it had a dilutive effect on gross profit margin in 2022 2022 Operating Profit Margin increased 40 bps to 19.6% (including benefit of 3M in other income related to a
joint development project) Excluding start-up costs on new plants, adjusted operating profit margin* was 20.2% vs. 19.2% in 2021 2022 Net Profit, EPS and Adjusted EBITDA Net profit of 143M, or 0.54 of diluted EPS Adjusted net profit*
of 147.7M, or 0.56 of adjusted diluted EPS* Adjusted EBITDA* of 263.69M; adjusted EBITDA margin* was 26.8% Q4 and Full Year 2022 Financial Results () () () () HVS share of Revenue ( Million) Full Year 2022 Revenue 25% 30%
Full Year 2022 Margins 2022 2021 Gross Profit Margin 32.5% 31.4% Operating Profit Margin 19.6% 19.2% __________ *Adjusted operating profit margin, adjusted net profit, adjusted DEPS, adjusted EBITDA and adjusted EBITDA margin are non-GAAP financial
measures. Please refer to slides 20-27 for a reconciliation of non-GAAP measures
Q4 and Full Year 2022 Segment Trends
Q4 and Full Year 2022 Financial Results __________ *Rounded figures Q4 revenue increased 25% yoy to 231.5M (21% on a constant currency basis) Growth driven by 31% increase in high value solutions and 21% increase from other containment and
delivery solutions Gross profit margin of 37.3%, and operating profit margin of 23.7% driven by strong revenue generation, a favorable mix, leverage of fixed costs, and recovery of inflationary costs FY 2022 revenue grew 15% to 799.7M (11%
on a constant currency basis) High value solutions grew 41% (other containment and delivery +4% yoy) Gross profit margin increased 120 basis points to 34.3%, and operating profit margin improved to 22.8%, despite inflationary headwinds
Biopharmaceutical and Diagnostic Segment REVENUE* ( Million) GROSS PROFIT MARGIN (%) Engineering Segment Better than expected results in Q4 and revenue increased 30% to 60.6M mostly due to the timing and progression of projects Gross
profit margin decreased 50 basis points to 21.2% mostly due to project mix; operating profit margin was 12.2% FY revenue increased yoy 23% to 184.0M driven by growth in all business lines Margins benefited from contributions from more
accretive business lines and ongoing business optimization efforts Gross profit margin increased 230 basis points to 21.6% and operating profit margin improved to 13.8% REVENUE* ( Million) GROSS PROFIT MARGIN (%) +230bps +120bps -50bps
Balance Sheet with Financial
Flexibility Year Ended December 31, 2022 302.6M CapEx* 103.3M Net Cash Generated from Operations 228.7M Total Cash and Cash Equivalents 46M Net Financial Position ( 137M) Free Cash Flow* Secured two loans
totaling 130M (February 2023) to support ongoing capital investments in growth platforms 70M, 5-year loan financed through BNP Paribas 60M financed through Cassa Depositi e Prestiti Both loans have a two-year draw down to
allow for accessing capital when needed. The loans shore up our balance sheet and provide us with added flexibility for capital deployment Our balance sheet is healthy, and we believe we have adequate liquidity to fund future growth Q4 and Full Year
2022 Financial Results __________ * Free Cash Flow and CapEx are non-GAAP financial measures. Please refer to slides 20-27 for a reconciliation of non-GAAP measures
CapEx Plan: Investing to Drive
Durable, Organic Growth Q4 and Full Year 2022 Financial Results ~70 35% to 40% of 2023 Revenue ( Million) CapEx Crosswalks For FY 2022, Capital Expenditures were 302.6M as we continued to invest in our strategic
global expansion Focusing efforts on priority projects in the U.S. and Italy, to capitalize on rising demand For FY 2023, forecasted Capital Expenditures of 35% to 40% of 2023 Revenue of which,
approximately 70M is carry-over from FY 2022 due to projects timing and progression Approximately 90% of our exp. CapEx tied to growth platforms, and the remaining balance for all other
activities including R&D approx. 90% tied to growth
Introducing 2023 Guidance Q4 and
Full Year 2022 Financial Results __________ *Adjusted DEPS and Adjusted EBITDA are non-GAAP financial measures. Please refer to slides 20-27 for a reconciliation of non-GAAP measures 2023 Guidance assumes various headwinds and tailwinds, and we
expect: H2 results will be stronger than H1 2023 and growth will be linear Double-digit growth in the BDS Segment, and high single-digit growth in the Engineering Segment Step-down in Q1 2023 revenue compared with Q4 2022 Assumes HVS will represent
32% to 34% of 2023 forecasted revenue Covid expected to decrease by ~ 80M, and est. 2% to 3% of revenue Currency headwind of approximately 13M to 14M 2023 Guidance Revenue 1.085Bn - 1.115Bn Implied Growth 10% -
13% Adjusted DEPS* 0.58 - 0.62 Adjusted EBITDA* 290.5M - 302.5M Weighted Avg. Shares Outstanding 265.3M
Franco Moro Chief Executive Officer
Q4 and Full Year 2022 Financial Results
Summary FY 2022 results demonstrate
that we have the right strategy Operating in an environment of strong demand, growing end markets and multi-year secular drivers Capital allocation priorities designed to meet current and future customer demand trends Timing of demand requires
investment years in advance of commercial production to seize opportunities in front of us Strong momentum entering 2023: we are well positioned to drive durable organic growth and increase shareholder value Q4 and Full Year 2022 Financial
Reconciliation of Non-GAAP Financial
Measures (Unaudited) This presentation contains non-GAAP financial measures. Please refer to the tables included in this presentation for a reconciliation of non-GAAP 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 Net Profit, Adjusted Diluted EPS,

Frequently Asked Questions

What were Stevanato Group's FY 2022 revenue figures?

Stevanato Group achieved a revenue of $983.7 million in FY 2022.

How much did the adjusted EBITDA margin grow in 2022?

The adjusted EBITDA margin grew by 90 basis points, reaching 26.8%.

What was the year-on-year revenue growth for Stevanato Group?

The company experienced a year-on-year revenue growth of 17%.

What market trends is Stevanato Group capitalizing on?

The group is capitalizing on robust demand in high-value solutions and biologics.

When is the commercial production expected to start in Latina, IT?

Commercial production in Latina, IT is expected to start by Q4 2023.

Last updated: Mar 2, 2023