Stevanato Group S.p.a. · NYSE:STVN
Stevanato — Q1 2022 Earnings Presentation
27 slides from Stevanato's earnings presentation, May 10, 2022
Slide 1: First Quarter 2022 Financial Results
First Quarter 2022 Financial Results May 10, 2022 Exhibit 99.1
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”).
Slide 3: First Quarter 2022 Earnings Call Speakers
Franco Stevanato Executive Board Chairman Stevanato Group First Quarter 2022 Earnings Call Speakers First Quarter 2022 Financial Results Franco Moro CEO Marco Dal Lago CFO Lisa Miles SVP IR
Slide 4: Franco Stevanato, Executive Chairman
Franco Stevanato Executive Chairman
Slide 5: A Strong Start to FY 2022
A Strong Start to FY 2022 Fostering a track record of consistent performance First Quarter 2022 Financial Results Executing multi-year strategic plan to drive sustainable organic growth, increase penetration of HVS and expand EBITDA margins Building on strong foundation, guided by philosophy that cu
Slide 6: Franco Moro, Chief Executive Officer & Chief Operating Officer
Franco Moro Chief Executive Officer & Chief Operating Officer
Slide 7: Strong First Quarter: Momentum to Achieve FY Guidance
Strong First Quarter: Momentum to Achieve FY Guidance Delivered double-digit revenue growth, grew high value solutions and increased order intake. Favorable demand trends underpin the steady flow of incoming orders First Quarter 2022 Financial Results *Adjusted DEPS, adjusted EBITDA and adjusted EBI
Slide 8: 2022 Strategic and Operational Priorities
First Quarter 2022 Financial Results Regional EZ-fill® hubs in the U.S. and China broaden production footprint, increase capacity of premium products and anchor operations in strategic markets; supplemented by incremental capacity in Italy Advancing Expansions Rapidly responding to customer demand f
Slide 9: Exclusive Partnership with Owen Mumford
Exclusive Partnership with Owen Mumford: A global leader specializing in the design, development, and manufacture of auto-injectors Auto-injectors: one of the fastest growing markets in DDS driven by increasing self-administration trends and new biosimilars entry Aidaptus auto-injector: next generat
Slide 10: Advancing Progress on FY 2022 Industrial Plan
Advancing Progress on FY 2022 Industrial Plan Cornerstone of long-term strategic growth plan is building HVS capacity to meet robust customer demand First Quarter 2022 Financial Results Priority projects expand industrial footprint in some of the fastest growing markets, adding capacity amid rising
Slide 11: Navigating Supply Chain Challenges
Unprecedented demand for electrical components, coupled with lockdowns in China, further impacted tight supply chains; While it created a disruption for manufacturing parts we use, we pivoted efforts to optimize production in HVS where demand is strong Sourcing from multiple suppliers, ordering mate
Slide 12: Marco Dal Lago, Chief Financial Officer
Marco Dal Lago Chief Financial Officer
Slide 13: Q1 2022 Revenue Highlights
Q1 2022 Revenue Highlights First Quarter 2022 Financial Results €212.1 €192.8 Revenue grew 10% Y/Y (~8% on a constant currency basis). Q1 2021 included a €5.5M revenue benefit from a licensing agreement which also bolstered margins, net profit, and earnings in the prior-year period. Excluding €5.5M
Slide 14: Q1 2022 Segment Financial Summary
Q1 2022 Segment Financial Summary BDS & ENGINEERING SEGMENT PERFORMANCE REVENUE in € millions First Quarter 2022 Financial Results +7% +23% BIOPHARMACEUTICAL AND DIAGNOSTIC SEGMENT (BDS) Revenue grew 7% (~5% on a constant currency basis) and Q1 2021 included the €5.5M benefit from the licensing agre
Slide 15: A Healthy Financial Position to Invest in Growth
A Healthy Financial Position to Invest in Growth First Quarter 2022 Financial Results * Free Cash Flow, Capital Expenditures (CAPEX) and Net Cash are non-GAAP measures. Please refer to slides 19-26 for a reconciliation of non-GAAP measures QUARTER ENDED MARCH 31, 2022 €143.3M Net Cash* €53.8M Capita
Slide 16: 2022 CapEx: Growth Platforms Remain Top Priority
2022 CapEx: Growth Platforms Remain Top Priority First Quarter 2022 Financial Results GROWTH Building capacity targeted to expanding HVS. Demand-driven investments create best path to deliver organic, sustainable growth over the long-term OTHER Innovation in operating efficiencies and quality, IT, m
Slide 17: Maintaining 2022 Guidance
Maintaining 2022 Guidance FULL YEAR 2022 GUIDANCE €935M - €945M Revenue €0.49 - €0.51 Adj. Diluted EPS* €248M - €253M Adj. EBITDA* ~264.7M Weighted Average Shares Outstanding *Adjusted DEPS and adjusted EBITDA are non-GAAP measures. Please refer to slides 19-26 for a reconciliation of non-GAAP measu
Slide 18: In Summary
Delivered solid quarter of financial results that were in-line with expectations Building a track record of consistent performance and maintaining guidance Operating in an environment of strong demand Attractive end markets that have durable, secular multi-year drivers Poised to capitalize on favora
Slide 19: Notes to Non-GAAP Financial Measures
Notes to Non-GAAP Financial Measures: This presentation contains non-GAAP measures First Quarter 2022 Financial Results Management monitors and evaluates our operating and financial performance using several non-GAAP financial measures, including Constant Currency Revenue, EBITDA, Adjusted EBITDA, A
Slide 20: Reconciliation of Constant Currency Revenue
Reconciliation of Non-GAAP Measures Reconciliation of Constant Currency First Quarter 2022 Financial Results Reconciliation of Revenue to Constant Currency Revenue (Amounts in € millions)
Slide 21: Reconciliation of EBITDA
Reconciliation of Non-GAAP Measures Reconciliation EBITDA First Quarter 2022 Financial Results Reconciliation of EBITDA (Unaudited) (Amounts in € millions)
Slide 22: Reconciliation of Reported and Adjusted EBITDA, Operating Profit, Net Profit and EPS
Reconciliation of Non-GAAP Measures Reconciliation of Reported and Adjusted EBITDA, Operating Profit, Income Taxes, Net Profit and Diluted EPS (Unaudited) (Amounts in € millions, except per share data) (1) During the three months ended March 31, 2022, the Group recorded €0.9 million of start-up cost
Slide 23: Reconciliation of Free Cash Flow
Reconciliation of Non-GAAP Measures Reconciliation of Free Cash Flow First Quarter 2022 Financial Results Free Cash Flow (Amounts in € millions) For the three months ended March 31, 2022 2021 Cash flow from operating activities 5.2 5.9 Interest paid 0.8 1.1 Interest received (0.2 ) (0.2 ) Purchase o
Slide 24: Reconciliation of Net Cash
Reconciliation of Non-GAAP Measures First Quarter 2022 Financial Results Net Cash (Amounts in € millions)
Slide 25: Reconciliation of Capital Expenditures
(Amounts in € millions, except as indicated otherwise) For the three months ended March 31, Change 2022 2021 € Addition to Property, plant and equipment 51.9 18.4 33.5 1.9 0.7 1.2 CAPEX 53.8 19.1 34.7 Addition to Intangible Assets Reconciliation of Non-GAAP Measures First Quarter 2022 Financial Resu
Slide 26: Reconciliation of Adjusted Guidance
Reconciliation of Non-GAAP Measures Reconciliation of Adjusted Guidance First Quarter 2022 Financial Results Reconciliation of 2022 Guidance for Adjusted EBITDA, Adjusted Operating Profit, Adjusted Net Profit and Adjusted Diluted EPS (Unaudited) (Amounts in € millions, except per share data)
Slide 27: Contacts
Contacts: Media Stevanato Group media@stevanatogroup.com Investor Relations Lisa Miles Lisa.miles@stevanatogroup.com