Stevanato Group, a leading global provider of drug containment, drug delivery and diagnostic solutions to the pharmaceutical, biotechnology and life sciences industries, has announced its financial results for the first quarter of 2024.
First Quarter 2024 Highlights
- Revenue for the first quarter of 2024 decreased 1 percent to EUR 236.0 million compared with the same period last year, and high-value solutions represented 37 percent of total revenue.
- For the first quarter, diluted earnings per share were EUR 0.07 and adjusted diluted earnings per share were EUR 0.08.
- Adjusted EBITDA margin for the first quarter was 21.4 percent.
- The Company is updating its fiscal year 2024 guidance primarily due to a more pronounced impact from the ongoing industry-wide destocking in the first quarter and a more gradual recovery in vials, as well as the postponement of expected orders from a key customer. The Company now expects revenue in the range of EUR 1,125 million to EUR 1,155 million, adjusted EBITDA in the range of EUR 277.9 million to EUR 292.2 million, and adjusted diluted EPS between EUR 0.51 and EUR 0.55.
The full report is available here.
Prepared comments are available here.
Video of the Latina, Italy, EZ-fill® manufacturing plant