Stevanato Group S.p.a. · NYSE:STVN
Stevanato — Q2 2021 Earnings Presentation
21 slides from Stevanato's earnings presentation, Aug 19, 2021
Slide 1: Second Quarter 2021 Financial Results
Second Quarter 2021 Financial Results August 19, 2021 Exhibit 99.1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation 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", "woul
Slide 3: Second Quarter 2021 Earnings Call - Speakers
Stevanato Group Second Quarter 2021 Earnings Call - Speakers Franco Stevanato Executive Board Chairman Franco Moro CEO Marco Dal Lago CFO Lisa Miles SVP IR Mauro Stocchi CBO Paolo Patri CTO
Slide 4: First Half 2021 Highlights
PARTNER OF CHOICE SG EZ-fill® pre-sterilized vial market share STRONG 1H 2021 RESULTS; CONSISTENT PERFORMANCE First Half 2021 Highlights Mission-critical containment, delivery and diagnostic solutions for the pharmaceutical, biotechnology and life sciences industries €397M 1H21 Revenue 33% YoY Reven
Slide 5: Our Mission
OUR MISSION To deliver patient-centric solutions in support of our customers’ needs to meet increasing market demand driven by a positive macro environment. Well positioned to grow profitably and capture market share over the next several years. INVEST PROCEEDS FROM IPO TO DRIVE SUSTAINABLE, LONG-TE
Slide 6: Q2 2021 Operating and Financial Results Highlights
Q2 2021 RESULTS; OPERATIONAL AND FINANCIAL PERFORMANCE €204.0M Q2 21 Revenue 26% YoY Revenue Growth €52.4M Q2 21 Adj. EBITDA* 30% YoY Adj. EBITDA Growth 25.7% Q2 21 Adj. EBITDA Margin* €0.14 Diluted EPS Delivered solid YoY Q2 operating and financial results highlighted by double digit revenue growth
Slide 7: Case Study: €220 Million Capex Investment in EZ-Fill Expansion
Key metrics and capacity increases: EZ-Fill® pre-fillable sterile syringes: production output to double from 2016 vs 2021, expected to triple by 2023. EZ-Fill® sterile vials and cartridges: production output increased 11X from 2016 to 2021, expected to be 19X by 2023. CASE STUDY: €220 MILLION CAPEX
Slide 8: Planned CapEx Spend in the U.S. and China
Planned CapEx spend of ~€300 million in the U.S. and China to expand existing footprint and enhance our proximity to customers in attractive end markets UNITED STATES Well-positioned to become a larger player in the sophisticated and rapidly growing biologics market Expect to break ground in Indiana
Slide 9: Current Macro Trends Generate Favorable Tailwinds for Decades to Come
Current Macro Trends Generate Favorable Tailwinds for Decades to Come Need to address major challenges, including: Aging populations Increasing complexity in health conditions and comorbidity rates Significant shift in patients seeking to manage their conditions and access care closer to their home
Slide 10: Financial Overview: Q2 2021 Revenue
Financial Overview: Q2 2021 Revenue REVENUE (In € millions) +26%1 *Revenue growth calculated on a constant currency basis was 28.5% REVENUE SHARE FROM “HIGH-VALUE” SOLUTIONS 2019 ~17% Q1 2021 ~23% ~10% 2016 Q2 2021 ~24% ESTIMATED COVID GROSS REVENUE Estimated Covid Gross Revenue Q2 2021 ~15% FY 2021
Slide 11: Financial Overview: Q2 2021 Accelerating Momentum Across Our Business
Financial Overview: Q2 2021 Accelerating Momentum Across Our Business overall_0_132573506445777536 columns_7_132584762853721572 3_1_132573506445777536 6_1_132573506445777536 9_1_132573506445777536 12_1_132573506445777536 13_1_132573506445777536 14_1_132573506445777536 15_1_132573506445777536 18_1_13
Slide 12: Financial Overview Continued: Q2 2021 Segment Overview
Financial Overview Continued: Q2 2021 Segment Overview BIOPHARMACEUTICAL AND DIAGNOSTIC SEGMENT (BDS) 23% YoY growth (despite unfavorable fx translation) Benefited from +27% revenue increase in high value solutions and 21% increase in other containment and delivery solutions versus Q2 2020 ENGINEERI
Slide 13: Balance Sheet, Cash Flow and Capital Allocation
Balance Sheet, Cash Flow and Capital Allocation Strong liquidity: mix of cash from operations, debt facility capacity and proceeds are ample to address future liquidity needs Capital Allocation Priorities Expand capacity in HVS where demand is high Investments in research and development to maintain
Slide 14: Initiating 2021 Guidance
Initiating 2021 Guidance Establishing 2021 Guidance €820M - €830M Revenue €0.43 - €0.47 Adj. Diluted EPS* €212M - €217M Adj. EBITDA* ~252.7M Weighted Average Shares Outstanding *Adjusted EBITDA and Adjusted Diluted EPS are non-GAAP measures. Please refer to slides 16-20 under the in this presentatio
Slide 15: Notes to Non-GAAP Financial Measures
Notes to Non-GAAP Financial Measures: This presentation contains 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 Oper
Slide 16: Reconciliation of Net Debt and EBITDA
Reconciliation of Non-GAAP Measures (Unaudited) (1) The Financial Receivable granted to the associate Swissfillon AG is included in line "Other non-current financial assets" of the Interim condensed consolidated statements of financial position. Reconciliation of Net Debt and EBITDA
Slide 17: Reconciliation of Reported and Adjusted EBITDA, Operating Profit, Net Profit and EPS
Reconciliation of Non-GAAP Measures (Unaudited) Reconciliation of Reported and Adjusted EBITDA, Operating Profit, Income Taxes, Net Profit and Diluted EPS (2) During the three and the six months ended June 30, 2021, the Group recorded € 0.7 million and € 1.0 million respectively in restructuring and
Slide 18: Reconciliation of Revenue to Constant Currency Revenue
Reconciliation of Non-GAAP Measures (Unaudited) Reconciliation of Constant Currency Three months ended June 30, 2021 Biopharmaceutical and Diagnostic Solutions Engineering Reported Revenue 174.9 29.1 Effect of changes in currency translation rates 4.0 - Constant Currency Revenue 178.9 29.1 Six month
Slide 19: Reconciliation of Free Cash Flow
Reconciliation of Non-GAAP Measures (Unaudited) Reconciliation of Free Cash Flow
Slide 20: Reconciliation of Adjusted Guidance
Reconciliation of Non-GAAP Measures (Unaudited) Reconciliation of Adjusted Guidance Reconciliation of 2021 Guidance for Operating Profit, EBITDA, Adjusted EBITDA, Adjusted Net Profit and Adjusted Diluted (Unaudited) (Amounts in € millions, except per share data) 2021 Guidance Operating Profit Deprec
Slide 21: Contacts
Contacts: Media Stevanato Group media@stevanatogroup.com Investor Relations Lisa Miles Lisa.miles@stevanatogroup.com