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Stevanato Group (STVN) investor relations material
Stevanato Group Jefferies London Healthcare Conference 2025 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Company overview and strategy
Over 70 years in the industry, with the last 25 years focused on becoming a global leader in mission-critical products for pharmaceuticals, especially injection-related solutions.
Provides an integrated platform for biopharmaceutical customers, offering vials, syringes, cartridges, and advanced devices like auto-injectors and wearable devices.
Built a global footprint and invested several billion dollars over 25 years to mirror pharma clients' global supply chains and ensure a robust, safe supply chain.
Raised $1.1 billion in a 2021 IPO, reinvesting proceeds to boost R&D and expand capacity in Europe and the US, aiming for $0.5 billion in revenue from new US facilities by 2028.
Focused on being a comprehensive partner for pharma companies, handling all aspects of injection supply chain globally.
Product and market trends
Market leader in cartridges and vials, second in syringes, and leading in glass forming, with a strong presence in high-value products.
High-value product revenue has grown faster than expected, with ongoing capacity expansions in Italy and the US to meet robust demand, especially for biologics.
GLP-1 drugs are a major growth driver, but the company maintains a balanced portfolio across originators and biosimilars to avoid overdependence.
Biosimilar launches, especially in GLP-1, are expected to increase revenue, as biosimilars often replicate originator packaging, facilitating rapid validation.
Analytical services support clients from early drug development, with several hundred molecules filed jointly with clients.
Financial performance and outlook
Revenue doubled in the last five years, with high-value product revenue and EBITDA more than doubling in the last year.
2025 vial segment revenue expected to be up 12% over 2024, with normalization and 1-2% growth in bulk vials and low double-digit growth in easy fill vials by 2026.
Shift in investment and capacity toward high-value products, with strategic focus on biologics and advanced delivery systems.
Engineering segment underwent operational upgrades, rebalancing sites in Italy and Denmark, and expanding capacity to support future growth.
Temporary headwinds in engineering order conversion, but operational performance and pipeline remain healthy.
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