Stevanato Group S.p.a. · NYSE:STVN
Stevanato — Q2 2023 Earnings Presentation
22 slides from Stevanato's earnings presentation, Jul 28, 2023
Slide 1: Stevanato Group Q2 2023 Financial Results
Exhibit 99.1 Stevanato Group Q2 2023 Financial Results July 28th, 2023
Slide 2: Safe Harbor Statement
Safe Harbor Statement Forward-Looking Statements This presentation may include forward-looking statements. The words "expect,” "reiterating,” “durable,” “continue,” “shifting,” “expand,” “believe,” “continued,” “assumes," “continuing,” "rising," “well positioned,” "strong," "increase," "benefitting,
Slide 3: Second Quarter 2023 Financial Results Earnings Call
Stevanato Group Second Quarter 2023 Financial Results Earnings Call Q2 2023 Financial Results Franco Franco Marco Lisa Stevanato Moro Dal Lago Miles Executive Chairman CEO CFO SVP IR 3
Slide 4: Franco Stevanato, Executive Chairman
Q2 2023 Financial Results Franco Stevanato Executive Chairman 4
Slide 5: Substantial Progress in Building Durable Organic Growth
Substantial Progress in Building Durable Organic Growth Continue to achieve high-single digit to low double-digit growth Q2 2023 Financial Results Successfully responding to market demand, which in turn, is shifting our revenue mix toward High-Value Solutions Investments in growth platforms are goin
Slide 6: Franco Moro, Chief Executive Officer
Q2 2023 Financial Results Franco Moro Chief Executive Officer 6
Slide 7: Second Quarter 2023 Highlights
Second Quarter 2023 Highlights Second Quarter 2023 Key Performance Indicators € 255M 9% 33% Q2 2023 Financial Results Revenue from High Revenue Revenue Growth Value Solutions (HVS) ~€ 939M € 240M € 0.13 Backlog at end of Q2 23 New Order Intake Diluted EPS € 68.2M 26.7% € 0.14 Adj. EBITDA* Adj. EBITD
Slide 8: High-Value Solutions Address Unique Storage & Packaging Requirements for Biologics
High-Value Solutions Address Unique Storage & Packaging Requirements for Biologics • Pharmaceutical innovation is driving advancements in more complex biologics • In 2021, ~28% of FDA approvals were biologics. This rose to ~40% in 20221. Stevanato Group is present in three of the four potential bloc
Slide 9: Global Capacity Expansion Plan Update
Global Capacity Expansion Plan Update Fishers, IN Latina, Italy Q2 2023 Financial Results • Staffing plans on track. Technical and managerial staff returned to Indiana after immersive training in Italy • Staffing plans are progressing as expected • Started initial performance qualifications for the
Slide 10: Sustainability Report 2022 At a Glance
Sustainability Report 2022 At a Glance We measure our progress through Q2 2023 Financial Results Global Reporting Initiative (GRI) Standards as a framework for transparency and accountability 10
Slide 11: Marco Dal Lago, Chief Financial Officer
Q2 2023 Financial Results Marco Dal Lago Chief Financial Officer 11
Slide 12: Q2 2023: Financial Highlights
Q2 2023: Financial Highlights Q2 2023 Revenue Revenue increase driven by growth in both segments (on CC basis, +10% yoy) • HVS represented 33% of total revenue (€ Million) HVS non-HVS • Revenue from Covid-19 decreased 89% and represented ~1% of total revenue • Excluding Covid-19 and effects of curre
Slide 13: Q2 2023 Segment Trends
Q2 2023 Segment Trends Biopharmaceutical and Diagnostic Segment (BDS) +9% Q2 revenue increased 9% (9% on CC basis) Q2 2023 Financial Results REVENUE* 189 205 • Growth driven by 20% increase in High-Value Solutions and 2% increase from (€ Million) other containment and delivery solutions Q2 2022 Q2 2
Slide 14: Balance Sheet with Financial Flexibility
Balance Sheet with Financial Flexibility At Quarter Ended June 30, 2023 Q2 2023 Financial Results € 120.4M € 61.2M Net Debt* Total Cash and Cash Equivalents In Second Quarter 2023 (€ 69.1M) € 24.4M € 138M Free Cash Flow* Net Cash Generated CapEx* from Operations __________ * Free Cash Flow, Net Debt
Slide 15: 2023 Guidance
2023 Guidance Reiterating Revenue and Adjusted DEPS; Raising Adjusted EBITDA Q2 2023 Financial Results 2023 Guidance Updated 2023 Guidance Revenue € 1.085B - € 1.115B Implied Growth 10% - 13% We realized improvements in utilities Adjusted DEPS* € 0.58 - € 0.62 which are coming in lower than forecast
Slide 16: Franco Moro, Chief Executive Officer
Q2 2023 Financial Results Franco Moro Chief Executive Officer 16
Slide 17: Continuing To Execute Against Our Strategic and Operational Priorities
Continuing To Execute Against Our Strategic and Operational Priorities to Capitalize on Rising Demand Trends Q2 2023 Financial Results Complete current Meet demand & Invest in R&D to Build a multi-year phase of global Grow mix of HVS accelerate our market- pipeline of new expansion plans leading pos
Slide 18: Notes to Non-GAAP Financial Measures
Notes to 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- Q2 2023 Financial Results GAAP measures. Management monitors and evaluates our operating and financial performance using
Slide 19: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Reconciliation of Revenue to Constant Currency Revenue (Amounts in € millions) (Unaudited) Q2 2023 Financial Results Biopharmaceutical and Three months ended June 30, 2023 Diagnostic Solutions Engineering Reported Revenue (IFRS GAAP) 204.8 50.5 Effect of
Slide 20: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Reconciliation of Reported and Adjusted EBITDA, Operating Profit, Income Taxes, Net Profit and Diluted EPS (Unaudited) (Amounts in € millions, except per share data) Q2 2023 Financial Results Operating Income Operating Income Three months ended June 30,
Slide 21: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Free Cash Flow Net Cash / (Net Debt) (Amounts in € millions) (Amounts in € millions) (Unaudited) (Unaudited) For the three months For the six months ended June 30, ended June 30, Q2 2023 Financial Results As of June 30, As of December 31, 2023 2022 2023
Slide 22: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Reconciliation of 2023 Guidance for Adjusted EBITDA, Adjusted Operating Profit, Adjusted Net Profit and Adjusted Diluted EPS (Amounts in € millions, except per share data) (Unaudited) Q2 2023 Financial Results Updated reconciliation Operating Revenue EBI