Stevanato Group S.p.a. · NYSE:STVN
Stevanato — Q1 2023 Earnings Presentation
24 slides from Stevanato's earnings presentation, May 4, 2023
Slide 1: Stevanato Group Q1 2023 Financial Results
Stevanato Group Q1 2023 Financial Results May 4th, 2023
Slide 2: Safe Harbor Statement
Safe Harbor Statement Forward-Looking Statements This presentation may include forward-looking statements. The words "expect,” “growing”, “driving,” “remain,” “favorable” “advance,” “rising,” “durable,” “strong,” “increasing,” “well-positioned,” “sustained,” “continued,” “expected,” “creating,” “eme
Slide 3: First Quarter 2023 Financial Results Earnings Call
Stevanato Group First Quarter 2023 Financial Results Earnings Call Q1 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
Q1 2023 Financial Results Franco Stevanato Executive Chairman 4
Slide 5: Successfully Executing on Multi-Year Strategic Plan
Successfully Executing on Multi-Year Strategic Plan Driving sustainable, long-term, organic growth • Solid first quarter results confirm the positive momentum exiting 2022. Fundamentals of our business remain strong as we advance our strategic priorities to capitalize on rising demand to drive durab
Slide 6: Franco Moro, Chief Executive Officer
Q1 2023 Financial Results Franco Moro Chief Executive Officer 6
Slide 7: A Solid Start to 2023
A Solid Start to 2023 First Quarter 2023 Key Performance Indicators Q1 2023 Financial Results € 238M 12% 32% Revenue from High Revenue Revenue Growth Value Solutions (HVS) ~€ 955M ~€ 236M € 0.11 Backlog at end of Q1 23 New Order Intake Diluted EPS € 61.9M 26.0% € 0.11 Adj. EBITDA* Adj. EBITDA Margin
Slide 8: Leveraging Strategic Collaborations
Leveraging Strategic Collaborations Working with market leaders to advance drug delivery programs Q1 2023 Financial Results • Collaboration offers a complete, end-to-end supply chain • Partnering to develop and manufacture high-performing solution around our proprietary on-body delivery system Alba®
Slide 9: Continued Advancements in Biologics Driving Demand
Continued Advancements in Biologics Driving Demand Landscape Q1 2023 Financial Results • The self-administration of medicine and GLP1s have been an established treatment for pharmaceutical innovation are creating diabetes, and they are demonstrating remarkable demand for Stevanato’s products results
Slide 10: Diabetes & Obesity Treatment Delivery Mechanism
Diabetes & Obesity Treatment Delivery Mechanism Leading franchise supporting diabetes management anchors STVN as one of the primary suppliers in emerging GLP1 market for obesity treatments Q1 2023 Financial Results Pen Injectors Auto-injectors • Doses can be modulated • Fixed dosing • Multiple doses
Slide 11: Global Capacity Expansion Plan Update
Global Capacity Expansion Plan Update Fishers, IN Latina, Italy RENDERING RENDERING Q1 2023 Financial Results • First production lines onsite • Validation expected in Q3 2023 • Onboarding staff • Commercial production expected in Q4 2023 • Validation activities to commence in Q4 2023 __________ All
Slide 12: Substantial Progress in Building Durable Organic Growth
Substantial Progress in Building Durable Organic Growth Successfully shifting revenue mix toward High Value Solutions Q1 2023 Financial Results Strategic collaborations to leverage STVN strengths to meet growing demand Well positioned to capitalize on favorable industry trends, such as the expected
Slide 13: Marco Dal Lago, Chief Financial Officer
Q1 2023 Financial Results Marco Dal Lago Chief Financial Officer 13
Slide 14: Q1 2023: Financial Highlights
Q1 2023: Financial Highlights Revenue increase driven by growth in both segments, shift toward HVS (on constant currency basis, +11% yoy) Q1 2023 Revenue • Revenue from Covid-19 decreased 57% and represented ~4% of Revenue (€ Million) HVS non-HVS • Revenue from HVS increased 25% to € 76.7M; driven b
Slide 15: Q1 2023 Segment Trends
Q1 2023 Segment Trends Biopharmaceutical and Diagnostic Segment (BDS) +13% Q4 revenue increased 13% yoy to € 195.5M (12% on a constant currency basis) Q1 2023 Financial Results REVENUE* 172 196 • Growth driven by 25% increase in High Value Solutions and 7% increase from (€ Million) other containment
Slide 16: Balance Sheet with Financial Flexibility
Balance Sheet with Financial Flexibility Quarter Ended March 31, 2023 Q1 2023 Financial Results € 46.5M € 158.8M Net Debt* Total Cash and Cash Equivalents (€ 91M) € 37.1M € 113.2M Free Cash Flow* Net Cash Generated CapEx* from Operations We believe that our cash on hand, coupled with our loan agreem
Slide 17: Reiterating 2023 Guidance
Reiterating 2023 Guidance 2023 Guidance Revenue € 1.085Bn - € 1.115Bn Q1 2023 Financial Results Implied Growth 10% - 13% Adjusted DEPS* € 0.58 - € 0.62 Adjusted EBITDA* € 290.5M - € 302.5M Weighted Avg. Shares Outstanding 265.3M 2023 Guidance assumes: • For Q2 2023, we are forecasting mid-to-high-si
Slide 18: Franco Moro, Chief Executive Officer
Q1 2023 Financial Results Franco Moro Chief Executive Officer 18
Slide 19: Continuing To Execute Against Our Strategic and Operational Priorities
Continuing To Execute Against Our Strategic and Operational Priorities to Capitalize on Rising Demand Trends Q1 2023 Financial Results Advance on the global Grow our mix of Invest in R&D to Build a multi-year expansion plan for our high value solutions accelerate our market- pipeline of new industri
Slide 20: 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- Q1 2023 Financial Results GAAP measures. Management monitors and evaluates our operating and financial performance using
Slide 21: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Reconciliation of Revenue to Constant Currency Revenue (Amounts in € millions) (Unaudited) Q1 2023 Financial Results Biopharmaceutical and Three months ended March 31, 2023 Diagnostic Solutions Engineering Reported Revenue (IFRS GAAP) 195.5 42.4 Effect o
Slide 22: 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) Q1 2023 Financial Results Operating Income Three months ended March 31, 2023 EBITDA Net
Slide 23: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Free Cash Flow Capital Expenditures (Amounts in € millions) (Amounts in € millions) (Unaudited) (Unaudited) Q1 2023 Financial Results For the three months For the three months Change ended March 31, ended March 31, 2023 2022 2023 2022 € Cash Flow from Op
Slide 24: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Q1 2023 Financial Results 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) Operating Revenue EBITDA Profit Net Profit D