In This Article:
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Revenue Growth: 2% increase for fiscal year 2024, driven by 6% growth in Biopharmaceutical and Diagnostic Solutions segment.
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Fourth Quarter Revenue: EUR330.6 million, a 3% increase year-over-year.
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High-Value Solutions Revenue: 9% growth to EUR131 million in Q4, representing 40% of total revenue.
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Gross Profit Margin: Declined by 210 basis points to 29.7% in Q4 2024.
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Operating Profit Margin: Increased 20 basis points to 20.2% in Q4 2024.
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Net Profit: EUR48.3 million in Q4 2024.
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Adjusted EBITDA: Increased 5% to EUR90.9 million, with a margin increase of 50 basis points to 27.5% in Q4 2024.
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Cash and Cash Equivalents: EUR98.3 million at year-end 2024.
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Net Debt: EUR335 million at year-end 2024.
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Capital Expenditures: EUR286.6 million for full-year 2024, with 89% for growth projects.
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Free Cash Flow: Negative EUR148.5 million for fiscal 2024, improved from negative EUR333.9 million in 2023.
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2025 Revenue Guidance: EUR1.160 billion to EUR1.190 billion.
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2025 Adjusted EBITDA Guidance: EUR293 million to EUR306.3 million.
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2025 Adjusted Diluted EPS Guidance: EUR0.51 to EUR0.55.
Release Date: March 06, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Stevanato Group SpA (NYSE:STVN) reported a 2% revenue growth for 2024, driven by a 6% increase in the Biopharmaceutical and Diagnostic Solutions segment.
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High-value solutions, including syringes, saw a 15% increase, representing 38% of total company revenue for 2024.
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Revenue from injectable biologics increased by 24% year over year, indicating strong demand in this segment.
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The company achieved significant milestones with its Fishers, Indiana facility generating its first commercial revenue and the Latina project in Italy turning profitable.
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Stevanato Group SpA (NYSE:STVN) is strategically positioned to capitalize on the growing demand for biologic treatments and self-administrative medicines.
Negative Points
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The Engineering segment experienced a 7% decline in revenue, impacting overall company performance.
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There was a 34% decline in revenue related to bulk and EZ-fill vials due to industry-wide vial destocking.
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Gross profit margin for the fourth quarter of 2024 declined by 210 basis points to 29.7%, affected by vial destocking and underutilization of vial lines.
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The new manufacturing plants in Fishers and Latina are expected to be dilutive to gross profit margin in the near term.
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Free cash flow remained negative at EUR148.5 million for fiscal 2024, although it showed improvement from the previous year.