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Biopharmaceutical and Diagnostic Solutions (BDS) Segment

Revenue grew 11% (11% on a constant currency basis) to €220.8 million for the first quarter of 2025, compared with the same period last year, driven primarily by growth in high-value syringes, and, to a lesser extent, other product categories.

Revenue from high-value solutions increased to 50% of BDS Segment revenue in the first quarter, driven by strong customer demand, increasing capacity in Latina and Fishers, and a partial recovery in EZ-fill^® vials.

For the first quarter of 2025, gross profit margin increased 420 basis points to 31.3%, driven by the aforementioned improvements from the new facilities in Latina and Fishers, as volumes and revenue begin to scale, and a favorable mix of high-value solutions.

Engineering Segment

Revenue from the Engineering Segment decreased 4% to €35.7 million for the first quarter of 2025, driven by lower revenue in glass conversion and visual inspection manufacturing lines, which was partially offset by growth in assembly and packaging lines, and after-sales services.

For the first quarter of 2025, margins were unfavorably impacted by the mix of projects in the portfolio, as the Company continues to prioritize the completion of its legacy projects in Denmark. This led to gross profit margin of 10.7% and operating profit margin of 4.7%. The Company is focused on executing its business optimization plan and still expects to complete all of the legacy projects in 2025, with the majority expected to be completed by mid-2025.

Balance Sheet and Cash Flow

At March 31, 2025, the Company had cash and cash equivalents of €90.7 million and net debt of €300.2 million. The Company believes that it has available liquidity to fund its strategic priorities over the next twelve months through a combination of cash on hand, available credit lines, cash generated from operations, and the ability to access additional financing.

Capital expenditures totaled €69.7 million for the first quarter of 2025, as the Company continues to ramp-up capacity in response to customer demand for high-value solutions in Fishers, Indiana and Latina, Italy.

In the first quarter of 2025, cash flow from operating activities was €99.8 million. Cash flow used for the purchase of property, plant, and equipment, and intangible assets totaled €71.8 million. The combination of increased cash flow from operations and lower capex helped drive a significant year-over-year improvement in free cash flow, and in the first quarter of 2025, the Company generated free cash flow of €29.7 million.

2025 Guidance

The Company is maintaining its fiscal 2025 revenue guidance, and updating its fiscal 2025 adjusted EBITDA and adjusted diluted earnings per share guidance to include the estimated impact of recently announced tariffs.

Before the impact of tariffs, the Company’s guidance remains consistent with its prior guidance issued in March, of revenue in the range of €1.160 billion to €1.190 billion, adjusted EBITDA in the range of €293 million to €306.3 million, and adjusted diluted earnings per share in the range of €0.51 to €0.55.

The Company estimates a tariff-related impact of approximately €4.5 million on operating profit, or approximately one cent of adjusted diluted earnings per share in fiscal 2025, which considers the effects of rounding.

The estimated tariff impact is based on information available on the current tariff programs implemented as of May 2, 2025. The Company’s updated guidance assumes the current tariffs in place today, including a 10% tariff on European goods destined for the U.S., and the absorption of price increases from suppliers.

The Company has implemented mitigation strategies aimed to further reduce its exposure in 2025, and these efforts will continue. The ongoing ramp-up in Fishers, Indiana, is expected to help mitigate potential impacts in the future.

As a result, the Company continues to expect revenue in the range of €1,160 million to €1,190 million.

The Company now expects

• Adjusted EBITDA in the range of €288.5 million to €301.8 million; and

• Adjusted diluted EPS in the range of €0.50 to €0.54.

Franco Stevanato concluded, "We continue to deliver organic growth driven by solid demand for high-value solutions, and we exited the first quarter with positive momentum in the BDS Segment. We expect continued improvements in Latina and Fishers as these facilities scale and mature, and we see ongoing stabilization in vial demand, as destocking gradually fades. The team is laser focused on executing our key priorities and achieving our long-term objectives. We believe that the fundamentals of our business are strong, as we operate in growing end markets with favorable secular tailwinds. We remain committed to returning the business to double-digit growth, expanding margins, and building long-term shareholder value."

Conference call: The Company will host a conference call and webcast at 8:30 a.m. (ET) on Thursday, May 8, 2025, to discuss financial results. During the call, management will refer to a slide presentation which will be available on the morning of the call on the "Financial Results" page under the Investor Relations section of the Company's website.

Pre-registration: Participants who pre-register will be given a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. We encourage participants to pre-register for the conference call using the following link: Pre-registration for STVN Q1 2025 earnings webcast.

Webcast: A live, listen-only webcast of the call will be available at the following link: STVN Q1 2025 webcast.

Dial in: Those who are unable to pre-register may dial in by calling:

Questions during the call: Participants who wish to ask questions during the call should use the HD webphone link: STVN Q1 2025 Link for Questions.

Replay: The webcast will be archived for three months on the Company’s Investor Relations section of its website.

Forward-Looking Statements

This press release may include forward-looking statements. The words "begin," "ongoing," "continues," "growth," "aim," "growing," "assumes," "are making," "advance," "potential," "expects," "expected," "believes," "continue," "expect," "continued," "see," "gradually," "achieving," "remain," "believe," "expanding," "building," and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, the Company's future financial performance, including revenue, operating expenses and ability to maintain profitability and operational and commercial capabilities; the Company's expectations regarding the development of the industry and the competitive environment in which it operates; the expansion of the Company's plants and sites, and our expectations related to our capacity expansion; the global supply chain and the Company's committed orders; customer demand and customers' ability to destock higher inventories accumulated during the COVID-19 pandemic; the success of the Company's initiatives to optimize the industrial footprint, harmonize processes and enhance supply chain and logistics strategies; the Company's geographical and industrial footprint; and the Company's goals, strategies and investment plans. The forward-looking statements in this press release are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely, such as conditions in the U. S. capital markets, negative global economic conditions, inflation, trade war and global tariff policies, the impact of the conflict between Russia and the Ukraine, the evolving events in Israel and Gaza, supply chain and logistical challenges and other factors such as the Company's ability to continue to obtain financing to meet its liquidity needs, changes in the geopolitical, social and regulatory framework in which the Company operates or in economic or technological trends or conditions. For a description of the risks that could cause the Company’s future results to differ from those expressed in any such forward looking statements, refer to the risk factors discussed in our most recent annual report on Form 20-F filed and our most recent filings with the . Securities and Exchange Commission. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements.

Non-GAAP Financial Information

This press release contains non-GAAP financial measures. Please refer to the tables included in this press release for a reconciliation of non-GAAP financial measures.

Management monitors and evaluates our operating and financial performance using several non-GAAP financial measures, including Constant Currency Revenue, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Operating Profit, Adjusted Operating Profit Margin, Adjusted Income Taxes, Adjusted Net Profit, Adjusted Diluted EPS, CAPEX, Free Cash Flow, Net Cash/(Debt), and Capital Employed. The Company believes that these non-GAAP financial measures provide useful and relevant information regarding its performance and improve its ability to assess our financial condition. While similar measures are widely used in the industry in which the Company operates, the financial measures it uses may not be comparable to other similarly titled measures used by other companies, nor are they intended to be substitutes for measures of financial performance or financial position as prepared in accordance with IFRS.

About Stevanato Group

Founded in 1949, Stevanato Group is a leading global provider of drug containment, drug delivery and diagnostic solutions to the pharmaceutical, biotechnology and life sciences industries. The Group delivers an integrated, end-to-end portfolio of products, processes, and services that address customer needs across the entire drug life cycle at each of the development, clinical and commercial stages. Stevanato Group’s core capabilities in scientific research and development, its commitment to technical innovation, and its engineering excellence are central to its ability to offer value added solutions to clients. To learn more, visit: www.stevanatogroup.com.

Non GAAP Financial Information

This press release contains non-GAAP financial measures. Please refer to "Non-GAAP Financial Information" on page 4 and the tables included in this press release for a reconciliation of non-GAAP financial measures.

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Contacts

Media
Stevanato Group
media@stevanatogroup.com

Investor Relations
Lisa Miles
lisa.miles@stevanatogroup.com