Slide 1: Stevanato Group Q2 2024 Financial Results
Stevanato Group Q2 2024 Financial Results August 6, 2024
Slide 2: Safe Harbor Statement
Safe Harbor Statement Forward-Looking Statements This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect the current views of Stevanato Group S.p.A. (“we”, “our”, “us”, “Stevanato Group” or the “Company”) a
Slide 3: Stevanato Group Second Quarter 2024 Financial Results Earnings Call
Stevanato Group Second Quarter 2024 Financial Results Earnings Call Franco Stevanato Marco Lisa Dal Lago Miles Executive Chairman & CEO CFO SVP, IR Q2 2024 Financial Results 3
Slide 4: Franco Stevanato
x Franco Stevanato Executive Chairman & Chief Executive Officer Q2 2024 Financial Results
Slide 5: BDS Segment Driving Growth; Offset by Execution Challenges in Engineering
BDS Segment Driving Growth; Offset by Execution Challenges in Engineering Q2 2024 revenue slightly ahead of our expectations, Execution challenges in our Engineering Segment but margins fell short in the Engineering Segment mostly limited to Denmark operations • BDS Segment grew 9% driven by strong
Slide 6: Ongoing Actions to Drive Improvement; Demand Remains Robust
Ongoing Actions to Drive Improvement; Demand Remains Robust Ongoing initiatives to improve efficiencies across the Eng. Segment • Optimize Engineering footprint Also, we are still navigating through • Harmonize industrial processes among sites market-wide vial destocking. • Enhance supply chain and
Slide 7: Demand-Driven Capacity Expansion Update
Demand-Driven Capacity Expansion Update Fishers (IN), U.S. Latina, Italy China With our focus on the execution in Latina and Fishers, we decided to further postpone potential expansion in China for the coming 12 months. • Validation activities progressing as planned; • Hosted 40 customers for the ne
Slide 8: Durable, Profitable Growth Ahead
Durable, Profitable Growth Ahead YTD Revenue from High Value Solutions (% of Total Revenue) Core fundamentals of our business have not changed 23% 29% 33% 40% • The end-markets we serve are healthy and growing H1 2021 H1 2022 H1 2023 H1 2024 • Demand for our products remains strong • Our integrated
Slide 9: Marco Dal Lago
x Marco Dal Lago Chief Financial Officer Q2 2024 Financial Results
Slide 10: Q2 2024: Financial Highlights
Q2 2024: Financial Highlights Q2 2024 : Revenue Q2 2024 : Margins (€ Million) ILLUSTRATIVE HVS non-HVS Mix (HVS) accretion Temporary headwind +2% 255 260 Base (i) higher 171 business 156 costs in Eng. (ii) vial destocking 103 +23% (iii) startup 84 (40%) inefficiencies (33%) Q2 2023 Q2 2024 Q2 2023 2
Slide 11: Q2 2024 Segment Trends
Q2 2024 Segment Trends Biopharmaceutical and Diagnostic Solutions Segment (BDS) Q2 2024 revenue increased 9%, mostly driven by high-performance syringes REVENUE* • Product diversity helped drive growth, despite a 40% decrease in revenue from vials (€ Million) 205 222 • Revenue from HVS grew 23% to €
Slide 12: Balance Sheet and Cash Flow Items
Balance Sheet and Cash Flow Items At Quarter Ended June 30, 2024 € 78.1M € 238.2M Total Cash and Cash Net Debt* Equivalents In Second Quarter 2024 € 75.9M € 22.3M (€ 46.1M) CapEx* Net Cash Generated Free Cash Flow* from Operations __________ *Adjusted operating profit margin, adjusted net profit, ad
Slide 13: Updating Guidance for Fiscal 2024
Updating Guidance for Fiscal 2024 PRIOR Guidance UPDATED Guidance Future Trajectory Long-term growth construct remains intact, and we Revenue € 1.125B - € 1.155B € 1.090B - € 1.110B believe we have right ingredients to return to LDD growth and expand margins Implied Revenue Growth 4% - 6% 0.4% - 2%
Slide 14: Franco Stevanato
x Franco Stevanato Executive Chairman & Chief Executive Officer Q2 2024 Financial Results
Slide 15: Focus on Execution. Our Fundamentals are Strong and Unchanged.
Focus on Execution. Our Fundamentals are Strong and Unchanged. • Maintaining focus on long-term objectives and we are confident in our strategic direction Robust product portfolio ideally suited to meet customers' needs • Continue to deliver durable organic growth – especially in HVS – despite headw
Slide 16: Thank You
Stevanato Group Q2 2024 Financial Results Thank You
Slide 17: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures 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 f
Slide 18: Reconciliation of Non-GAAP Financial Measures (1/5)
Reconciliation of Non-GAAP Financial Measures (1/5) Reconciliation of Revenue to Constant Currency Revenue Reconciliation of EBITDA (Amounts in € millions) (Amounts in € millions) Biopharmaceutical For the three months For the six months and Change Change Three months ended June 30, 2024 Diagnostic
Slide 19: Reconciliation of Non-GAAP Financial Measures (2/5)
Reconciliation of Non-GAAP Financial Measures (2/5) Reconciliation of Reported and Adjusted EBITDA, Operating Profit, Income Taxes, Net Profit, and Diluted EPS (Amounts in € millions, except per share data) Operating Income Operating Income Three months ended June 30, 2024 EBITDA Net Profit Diluted
Slide 20: Reconciliation of Non-GAAP Financial Measures (3/5)
Reconciliation of Non-GAAP Financial Measures (3/5) Capital Employed (Amounts in € millions) As of June 30, As of December 2024 31, 2023 - Goodwill and intangible assets 82.2 81.0 - Right of Use assets 16.9 18.2 - Property, plant and equipment 1,139.5 1,028.5 - Financial assets - investments FVTPL 0
Slide 21: Reconciliation of Non-GAAP Financial Measures (4/5)
Reconciliation of Non-GAAP Financial Measures (4/5) CAPEX Net (Debt) / Net Cash (Amounts in € millions) (Amounts in € millions) For the three months For the six months As of June 30, As of December 31, Change Change 2024 2023 ended June 30, ended June 30, 2024 2023 € 2024 2023 € Non-current financia
Slide 22: Reconciliation of Non-GAAP Financial Measures (5/5)
Reconciliation of Non-GAAP Financial Measures (5/5) Reconciliation of 2024 Guidance (Updated) Reported and Adjusted EBITDA, Operating Profit, Net Profit, Diluted EPS (Amounts in € millions, except per share data) Operating Revenue EBITDA Net Profit Diluted EPS Profit Reported 1,090.0 - 1,110.0 248.9