Stevanato Group S.p.a. · NYSE:STVN
Stevanato — Q1 2024 Earnings Presentation
22 slides from Stevanato's earnings presentation, May 9, 2024
Slide 1: Stevanato Group Q1 2024 Financial Results
Stevanato Group Q1 2024 Financial Results May 9, 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: First Quarter 2024 Financial Results Earnings Call
Stevanato Group First Quarter 2024 Financial Results Earnings Call Franco Franco Marco Lisa Stevanato Moro Dal Lago Miles Executive Chairman CEO CFO SVP IR Q1 2024 Financial Results 3
Slide 4: Franco Stevanato, Executive Chairman
x Franco Stevanato Executive Chairman Q1 2024 Financial Results
Slide 5: Strong Business Fundamentals Remain Unchanged
Strong Business Fundamentals Remain Unchanged Tackling two challenges today and number one Updating 2024 guidance. Mid- and long-term priority is execution growth prospects remain unchanged 1. Industry-wide temporary destocking more pronounced than • Temporary destocking is the main factor for the g
Slide 6: Marco Dal Lago, Chief Financial Officer
x Marco Dal Lago Chief Financial Officer Q1 2024 Financial Results
Slide 7: Q1 2024: Financial Highlights
Q1 2024: Financial Highlights Q1 24 revenue decrease due to lower-than-expected growth in the BDS Segment Q1 2024 Revenue • BDS Segment grew 2%, partially offsetting expected decline in the Engineering Segment (€ Million) HVS non-HVS • Revenue decrease mostly driven by lower revenue attributable to
Slide 8: Q1 2024 Segments Trends
Q1 2024 Segments Trends Biopharmaceutical and Diagnostic Solutions Segment (BDS) Q1 2024 revenue increased 2%. Growth impeded by the industry-wide vial destocking REVENUE* • Revenue from vials decreased 43%, offset mainly by strong growth in syringes and (€ Million) 196 199 other product categories
Slide 9: Balance Sheet and Cash Flow Items
Balance Sheet and Cash Flow Items At Quarter Ended March 31, 2024 € 186.3M € 186.9M Total Cash and Cash Net Debt* Equivalents € 170.5M net proceeds from follow-on public offering of ordinary shares closed in March In First Quarter 2024 The proceeds will be used for our capital investment projects, w
Slide 10: Updating Guidance for Fiscal 2024
Updating Guidance for Fiscal 2024 PRIOR Guidance UPDATED Guidance Guidance Update Mainly driven by the temporary soft vial Revenue € 1.180B - € 1.210B € 1.125B - € 1.155B demand and order postponement from a single customer due to change in the Implied Revenue Growth 9% - 12% 4% - 6% customer's comm
Slide 11: Franco Moro, Chief Executive Officer
x Franco Moro Chief Executive Officer Q1 2024 Financial Results
Slide 12: Business Update
Business Update Slower-than-expected recovery in vials is Engineering: ongoing actions are just starting to tempering BDS performance in FY 2024 yield operational improvements in the business • Slower recovery in vials (particularly EZ-fill® vials) will • Combination of additional resources, ongoing
Slide 13: Capacity Expansion Project Update
Capacity Expansion Project Update Fishers (IN), U.S. Latina, Italy • On track to begin commercial production in H2 2024 • Commercial production launched last year • Customer validation activities ongoing • Ramp-up activities ongoing as we continue installing and continuing into 2026, as planned and
Slide 14: Franco Stevanato, Executive Chairman
x Franco Stevanato Executive Chairman Q1 2024 Financial Results
Slide 15: Focus on Execution. Our Fundamentals are Strong and Unchanged.
Focus on Execution. Our Fundamentals are Strong and Unchanged. Number one priority for 2024 is execution Unique value proposition of integrated solutions • Laser-focused on ramping our new capacity and differentiated products to meet rising customer demand for HVS Attractive end markets with long se
Slide 16: Thank You
Stevanato Group Q1 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 EBITDA Reconciliation of Revenue to Constant Currency Revenue (Amounts in € millions) (Amounts in € millions) For the three months Change ended March 31, 2024 2023 % Biopharmaceutical Net Profit 18.8 28.3 (33.5)% Income Taxes 6.9
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 Three months ended March 31, 2024 EBITDA Net Profit Diluted EPS Profit Taxes
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 March 31, As of December 2024 31, 2023 - Goodwill and intangible assets 81.0 81.0 - Right of Use assets 18.0 18.2 - Property, plant and equipment 1,089.4 1,028.5 - Financial assets - investments FVTPL
Slide 21: Reconciliation of Non-GAAP Financial Measures (4/5)
Reconciliation of Non-GAAP Financial Measures (4/5) CAPEX Free Cash Flow (Amounts in € millions) (Amounts in € millions) For the three months ended March 31, 2024 2023 Net cash flow from operating activities 71.6 37.1 For the three months Interest paid 0.7 0.9 Change ended March 31, Interest receive
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 1,125.0 - 1,155.0 264