Stevanato Group Reports Strong Third Quarter 2021 Revenue and Financial Results and Updates Full Year 2021 Guidance

Stevanato Group Reports Strong Third Quarter 2021 Revenue and Financial Results

and Updates Full Year 2021 Guidance

DESE, Italy November 9, 2021 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 2021.

Third Quarter 2021 Highlights (compared to the same period last year)

Third quarter revenue increased 37% to 214.5 million compared to the same period last year driven by

strong sales in both segments. Gross profit increased 34% to 63.3 million, but gross profit margin of 29.5% was tempered primarily by higher sales in the Engineering Segment which has a

lower margin than the Biopharmaceutical and Diagnostic Solutions Segment.

In the third quarter, the Company awarded a discretionary bonus of 6.7 million to all staff to recognize their efforts over the past 18 months. The bonus was assumed in the Company s 2021 guidance provided in the second quarter of 2021. The bonus adversely

impacted operating profit, net profit, and diluted earnings per share (on a GAAP basis). In the third quarter, adjusted operating profit margin increased 80 basis points to 17%, adjusted net profit increased 39% to 26.4 million, and adjusted diluted EPS were 0.10.

As expected, approximately 16% of third quarter 2021 revenue was attributable to Covid-19. In the third quarter, high

value solutions accounted for approximately 23% of consolidated revenue which was primarily due the rapid increase in revenue. This compares to 24% in the prior-year period. Based on the current backlog, the Company expects a higher revenue

contribution from high value solutions in the fourth quarter of 2021 in terms of overall dollar amounts.

Franco Moro, Chief Executive Officer, stated,

We maintained strong momentum in the third quarter, driven by robust sales, a solid order pipeline and continued progress on our investments, innovation, and capacity expansion plans. Our Engineering Segment delivered better-than-expected

results amid rising client demand, and we are pleased to increase our full year revenue guidance and raise the bottom end of the ranges for adjusted diluted EPS and adjusted EBITDA.

Moro continued, Looking ahead, we remain squarely focused on delivering an integrated

end-to-end product portfolio, supported by our scientific and analytical processes and services, to meet the rising needs of customers across the entire drug life cycle

from pre-clinical development stages to

commercialization. We will continue to invest in the business to deliver sustainable, organic growth to drive long-term shareholder value.

Biopharmaceutical and Diagnostic Solutions Segment (BDS)

Biopharmaceutical and Diagnostic Solutions Segment delivers a broad range of proprietary products, processes, and services for the containment and delivery of pharmaceutical and biotechnology drugs, reagents, and diagnostic consumables.

For the third quarter, BDS Segment revenue grew 31% to 172.8 million (third party sales) compared to

the same period last year. Revenue growth was driven by a 32% increase from other containment and delivery solutions and a 29% increase in high value solutions which includes the Company s proprietary

EZ-Fill syringes, vials, and cartridges. The segment continues to benefit from the favorable tailwind of

Covid-19, and the Company s leading position in the vaccine space. In the third quarter, high value solutions accounted for 28% of BDS Segment revenue, compared to 28.5% in the prior-year period. As a

result of the high level of visibility from its current backlog, the Company expects a higher revenue contribution from its high value solutions in the fourth quarter of 2021.

For the third quarter of 2021, gross profit margin of 31.2% was tempered by product mix. The segment s operating profit margin of 18.1% was impacted

primarily by the out-of-cycle, discretionary bonus awarded to all staff during the third quarter of 2021. For the third quarter, adjusted operating profit margin for

this segment was 21.3% compared to 21.2% in the prior year.

The Engineering Segment develops and manufactures equipment and technology for assembly, visual inspection, packaging, serialization, glass conversion, as well as

comprehensive after-sales support to provide end-to-end solutions to the pharmaceutical, biotechnology and diagnostic manufacturing processes.

For the third quarter, Engineering Segment revenue increased by 67% to 41.8 million (third party

sales) compared to the same period last year, driven by strong sales in its glass conversion and visual inspection machines that helped bolster this segment s margins in the quarter.

For the third quarter, the segment s gross profit margin increased to 15.4% compared to 11.9% last year. The segment s operating profit margin grew to

7.1% and includes the unfavorable impact from the out-of-cycle, discretionary bonus. For the third quarter, adjusted operating profit margin for this segment was 9.0%

compared to 0.6% for the same period last year.

Liquidity and Balance Sheet

The Company believes that it has adequate cash available to appropriately address its current liquidity needs. During the third quarter, the Company completed its

initial public offering, and raised total primary net proceeds, including the overallotment, of approximately 380 million. As a result, the Company had a positive net financial position of 153.9 million and cash and cash equivalents totaled 428 million as of September 30, 2021.

For the third quarter, net cash generated from operating activities was 17.9 million which was

adversely impacted by income tax payments of approximately 13.7 million and increased working capital needs to sustain growth. Cash paid for capital expenditures totaled 28.6 million during the quarter in support of the Company s long-term strategic expansion plans. This resulted in a negative Free Cash Flow of

9.9 million for the third quarter of 2021.

Capital expenditures for fiscal 2021 are now expected to be lower than previously forecasted as some spending

is expected to shift into fiscal 2022. Despite this shift, the Company s investment plans remain on track.

Subsequent to September 30, 2021, the Company paid approximately 7.0 million to purchase the

remaining 35% minority interest in Denmark-based SVM Automatik A/S which specializes in assembly, packaging machines, and serialization solutions to meet the needs of the bio-pharmaceutical and contract

manufacturing industries.

Additionally, the Company sold its remaining minority holdings in Swissfillon, a provider of fill and finish services to the

pharmaceutical and contract manufacturing industries, for a net profit of approximately 12.3 million, or 0.05 of diluted earnings per

share which will be recognized in the fourth quarter. This non-recurring gain will be excluded from the Company s 2021 guidance for adjusted diluted earnings per share.

The Company intends to reinvest the net proceeds into the business to support its long-term strategic growth platform.

Full Year 2021 Guidance

Based on the Company s year-to-date financial results and the high level of visibility from backlog, the Company is increasing its revenue guidance and raising the bottom end of its ranges for

adjusted diluted EPS and adjusted EBITDA for 2021.

The Company now expects:

The Company intends to provide 2022 guidance when it issues year-end results in March 2022.

Conference Call and Webcast

The Company will host a conference call to discuss the financial results at 8:30 a.m. Eastern Time (14:30 CET) on November 9, 2021. Management will refer to

a slide presentation during the call, which will be made available on the day of the call. To view the presentation, please visit the Financial Results page, under the Financial Information tab of the Company s Investor Relations

section of its website. To participate on the call please dial:

United States: 855 979 6654

United Kingdom: 0800 640 6441

International: +44 20 3936 2999

Listeners are encouraged to

preregister for the call via the following link:

https://www.incommglobalevents.com/registration/client/8953/stevanato-q3-earnings-call/, whereupon you will be provided with a unique dial-in number and access code.

For Participants that do not preregister:

A live broadcast of the conference call will also be available online at the following link:

(access code 659819).

An online archive of

the broadcast will be available at the website shortly after the live call and will be available through Tuesday 23 November 2021. The recording will be accessible via the following link: https://www.incommglobalevents.com/replay/6910/stevanato-q3-earnings-call/ (access code 889042).

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.

For more information, please visit www.stevanatogroup.com

Forward-Looking Statements

This press release contains

certain forward-looking statements which include, or may include, words such as raising , believe , potential , increased , future , remain , growing , expect ,

foreseeable , expected , to be , includes , estimated , assumes , would provide , and other similar terminology. Forward-looking statements contained in this prospectus

include, but are not limited to, statements about: our future financial performance, including our revenue, operating expenses, and our ability to maintain profitability and operational and commercial capabilities; our expectations regarding the

development of our industry and the competitive environment in which we operate; and our goals, strategies, and investment plans. The following are some of the factors that could cause our actual results to differ materially from those expressed in

or underlying our forward-looking statements : (i) our product offerings are highly complex, and, if our products do not satisfy applicable quality criteria, specifications and performance standards, we could experience lost sales, delayed or

reduced market acceptance of our products, increased costs and damage to our reputation; (ii) we must develop new products and enhance existing products, adapt to significant technological and innovative changes and respond to introductions of

new products by competitors to remain competitive; (iii) our backlog might not accurately predict our future revenue, and we might not realize all or any part of the anticipated revenue reflected in our backlog; (iv) if we fail to maintain

and enhance our brand and reputation, our business, results of operations and prospects may be materially and adversely affected; (v) we are highly dependent on our management and employees. Competition for our employees is intense, and we may

not be able to attract and retain the highly skilled employees that we need to support our business and our intended future growth; (vi) our business, financial condition and results of operations depend upon maintaining our relationships with

suppliers and service providers; (vii) our business, financial condition and results of operations depend upon the availability and price of high-quality materials and energy supply and our ability to contain production costs;

(viii) significant interruptions in our operations could harm our business, financial condition and results of operations; (ix) our manufacturing facilities are subject to operating hazards which may lead to production curtailments or

shutdowns and have an adverse effect on our business, results of operations, financial condition or cash flows; (x) our business may be harmed if our customers discontinue or spend less on research, development, production or other scientific

endeavors; and (xi) we may face significant competition in implementing our strategies for revenue growth in light of actions taken by our competitors. This list is not exhaustive.

These forward-looking statements speak only as at their dates. The Company undertakes no obligation to update any forward-looking statement or statements to

reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time, and it is not possible to predict all of these factors. Further, the Company

cannot assess the impact of each such factor on our business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statements. This press release

also contains certain estimates regarding the Company s future prospects and performance, including, but not limited to, future revenues and earnings per share, capital deployment. All such statements and projections are based upon current

expectations of the Company and involve a number of business risks and uncertainties. The Company disclaimers any current intention to update such guidance, except as required by law.

For a description of certain additional factors that could cause the Company s future results to differ from those expressed in any such forward-looking

statements, see Part II, Item 1A. entitled Risk Factors in the Company s Quarterly Report on Form 6-K for the quarterly period ended June 30, 2021 and Risk Factors in our