Stevanato Group Delivers 8% Revenue Growth for the Third Quarter of Fiscal 2026

Lower expected GLP-1 volumes and revenue temper the company's 2027 growth outlook, while its 2026 guidance remains unchanged.

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The Company Maintains Fiscal Year 2026 Guidance

PIOMBINO DESE, Italy--(BUSINESS WIRE)-- Stevanato Group S.p.A. (NYSE: STVN), a leading global provider of drug containment, drug delivery, and diagnostic solutions to the pharmaceutical, biotechnology, and life sciences industries, today announced its financial results for the third quarter of 2026.

Third Quarter of 2026 Highlights (comparisons to prior-year period)

• Revenue increased 8% to €326.1 million, and on an organic basis* revenue increased 8%.
• Revenue from high-value solutions represented 46% of total revenue.
• Gross profit was €95.0 million and gross profit margin was 29.1%.
• Adjusted EBITDA margin increased 150 basis points to 27.2%.
• Diluted earnings per share grew 15% to €0.15 and adjusted diluted earnings per share grew 14% to €0.16.
• The Company is maintaining its fiscal 2026 guidance and continues to expect revenue in the range of €1.260 billion to €1.280 billion, adjusted EBITDA of €335.0 million to €345.2 million, and adjusted diluted EPS of €0.60 to €0.62.

*Organic revenue is defined as reported revenue excluding the effects from divestments and/or acquisitions, and the impacts of foreign currency translation. Please refer to the financial table titled "Reconciliation of Revenue to Organic Revenue" included in the Non-GAAP Financial Information provided in this press release.

Third Quarter 2026 Results

For the third quarter of 2026, revenue increased 8% to €326.1 million, and 8% organically, compared to the same period last year. This was driven by an 11% revenue increase, on an organic basis, from the Company's Biopharmaceutical and Diagnostic Solutions (BDS) Segment, which offset a 12% revenue decline from the Engineering Segment. Revenue from high-value solutions increased 1%, year-over-year, to €149.4 million, and 1% on an organic basis, and represented 46% of total revenue for the third quarter of 2026. In the third quarter of 2026, revenue from GLP-1 therapies represented approximately 17% to 18% of total revenue.

In the third quarter of 2026, gross profit margin decreased 10 basis points to 29.1% primarily due to increased utility costs, the expected higher depreciation, and lower gross profit from the Engineering Segment, which were partially offset by the expected combined margin improvements in Latina and Fishers and a better mix compared to the same period last year.

Operating profit margin increased by 110 basis points to 18.5% and adjusted operating profit margin increased by 90 basis points to 19.4%. Net profit increased 16% to €41.8 million, with diluted earnings per share of €0.15. For the third quarter of 2026, adjusted net profit increased 14% to €44.0 million and adjusted diluted earnings per share increased to €0.16, compared with €0.14 for the same period last year.

For the third quarter of 2026, adjusted EBITDA increased 14% to €88.8 million, and adjusted EBITDA margin improved 150 basis points to 27.2%, compared with the same period last year.

Franco Stevanato, Chairman and Chief Executive Officer, commented, “Third-quarter results were in line with our expectations, with 8% organic revenue growth and a 150-basis-point expansion in adjusted EBITDA margin. Solid growth in our Biopharmaceutical and Diagnostics Solutions Segment and continued demand in non-GLP-1 biologics, which grew over 30% in the third quarter, helped offset lower GLP-1 revenue and softer performance in the Engineering Segment. Looking to next year, we now anticipate lower volumes and revenue from GLP-1s than previously expected which we believe will temporarily moderate growth in 2027. We have already made meaningful progress in backfilling the expected lower revenue and we remain confident in our ability to grow low single digits next year, based on what we know today.”

Biopharmaceutical and Diagnostic Solutions (BDS) Segment

Revenue of €294.0 million, grew 10% and increased 11% organically, compared with the same period last year, driven by growth in high-value solutions and other containment and delivery solutions.

In the third quarter of 2026, revenue from high-value solutions increased 1% to €149.4 million, and also grew 1% organically, and represented 51% of BDS Segment revenue, driven predominantly by EZ-fill^® syringes and EZ-fill^® cartridges. Revenue from other containment and delivery solutions of €144.6 million, grew 22% and increased 23% organically, compared with the same period last year, driven by growth in bulk syringes and cartridges, and variable compensation tied to lower GLP-1 volumes.

For the third quarter of 2026, gross profit grew €8.9 million to €94.6 million, and gross profit margin increased by 10 basis points to 32.1%, compared to the prior-year period. This was primarily driven by higher revenue, the combined improvements in Fishers and Latina as we continue to scale operations and gain efficiencies, and a better portfolio mix, which was partially offset by increased utility costs and the expected higher depreciation.

Engineering Segment

Revenue from the Engineering Segment decreased 12% to €32.0 million for the third quarter of 2026, compared with the same period last year, driven primarily by lower revenue from pharma visual inspection, and assembly and packaging, which offset growth in after sales services.

For the third quarter of 2026, gross profit margin for the Engineering Segment decreased 20 basis points to 10.2%, compared with the same period last year, due to lower revenue, the timing of order intake, and project execution.

Balance Sheet and Cash Flow

As of September 30, 2026, the Company had cash and cash equivalents of €114.9 million, and net debt of €353.7 million.

For the third quarter of 2026, capital expenditures totaled €44.8 million, primarily related to the new plants in Italy and Indiana, and the device programs in Germany. For the three-months ended September 30, 2026, net cash flow from operating activities was €57.6 million and cash used for the purchase of property, plant, and equipment, and intangible assets totaled €36.3 million. In the third quarter of 2026, the Company generated free cash flow of €21.7 million.

The Company believes that it has adequate liquidity to fund its strategic priorities over at least the next twelve months through a combination of cash on hand, cash generated from operations, available credit lines, and the ability to access additional financing.

Full Year 2026 Guidance

The Company is maintaining its full-year 2026 guidance and still expects revenue to range between €1.260 billion and €1.280 billion, adjusted EBITDA of €335.0 million to €345.2 million, and adjusted diluted EPS of €0.60 to €0.62.

Franco Stevanato, concluded, "The demand environment for injectable biologics remains structurally strong, supported by scientific innovation, the expansion of biosimilars and the shift toward self-administered therapies. We continue to invest with discipline in high-value containment and delivery solutions, expand capacity across our global network, and advance differentiated platforms such as our groundbreaking Alba^® syringes to our integrated device platforms such as our Alina^® pen injector. These capabilities position Stevanato Group to support customers across the drug lifecycle and deliver sustainable, profitable long-term growth."

Conference call: The Company will host a conference call and webcast at 8:30 a.m. (ET) on Tuesday, November 3, 2026, 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 Q3 2026 earnings webcast.

Webcast: A live, listen-only webcast of the call will be available at the following link: STVN Q3 2026 webcast.

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

Italy:		+39 02 802 09 11
United Kingdom:		+44 1 212 818004
United States:		+1 718 705 8796
United States Toll Free:		+1 855 265 6958

Questions during the call: Participants who wish to ask questions during the call should use the HD webphone link: STVN Q3 2026 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 "expects," "scale," "driving," "increase," "begins," "are starting," "remains," "continues," "believes," "expect," "position," "accelerating," "drive," "anticipate," "confident," "guidance," "maintain," and other 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; 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 and domestic economic and political conditions, inflation, trade war and global tariff policies, the impact of the conflict between Russia and Ukraine, the evolving events in Israel and Gaza, the Iran regional conflict (including U.S. participation), 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, and our most recent filings with the U.S. 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, Organic Revenue and Change in Organic 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.

Consolidated Income Statement
(Amounts in € millions, except per share data)
		For the three months																For the nine months
		ended September 30,																ended September 30,
		2026				%				2025				%				2026				%				2025				%
Revenue			326.1				100.0	%			303.2				100.0	%			901.6				100.0	%			839.8				100.0	%
Costs of sales			231.1				70.9	%			214.7				70.8	%			644.7				71.5	%			602.8				71.8	%
Gross Profit			95.0				29.1	%			88.5				29.2	%			256.9				28.5	%			237.0				28.2	%
Other operating Income			3.0				0.9	%			2.7				0.9	%			6.9				0.8	%			4.8				0.6	%
Selling and Marketing Expenses			8.1				2.5	%			7.1				2.3	%			22.9				2.5	%			20.3				2.4	%
Research and Development Expenses			6.1				1.9	%			7.6				2.5	%			18.2				2.0	%			19.6				2.3	%
General and Administrative Expenses			23.5				7.2	%			23.8				7.8	%			72.4				8.0	%			73.1				8.7	%
Loss on sale of subsidiary and related transaction costs			—				0.0	%			—				0.0	%			12.2				1.4	%			—				0.0	%
Operating Profit			60.3				18.5	%			52.7				17.4	%			138.1				15.3	%			128.7				15.3	%
Finance Income			1.8				0.5	%			0.5				0.2	%			6.2				0.7	%			13.9				1.7	%
Finance Expense			2.6				0.8	%			4.1				1.3	%			7.4				0.8	%			19.3				2.3	%
Profit Before Tax			59.6				18.3	%			49.1				16.2	%			136.9				15.2	%			123.3				14.7	%
Income Taxes			17.7				5.4	%			13.1				4.3	%			44.1				4.9	%			31.1				3.7	%
Net Profit			41.8				12.8	%			36.1				11.9	%			92.8				10.3	%			92.3				11.0	%
Earnings per share
Basic earnings per ordinary share			0.15								0.13								0.34								0.34
Diluted earnings per ordinary share			0.15								0.13								0.34								0.34
Average shares outstanding			273.1								273.0								273.1								272.9
Average shares assuming dilution			273.1								273.0								273.1								272.9

Reported Segment Information
(Amounts in € millions)
		For the three months ended September 30, 2026
		Biopharmaceutical and Diagnostic Solutions				Engineering				Adjustments, eliminations and unallocated items				Consolidated
External Customers			294.0				32.0				—				326.1
Inter-Segment			0.3				17.2				(17.5	)			—
Revenue			294.3				49.2				(17.5	)			326.1
Gross Profit			94.6				5.0				(4.6	)			95.0
Gross Profit Margin			32.1	%			10.2	%							29.1	%
Operating Profit			67.7				0.6				(8.0	)			60.3
Operating Profit Margin			23.0	%			1.1	%							18.5	%

		For the three months ended September 30, 2025
		Biopharmaceutical and Diagnostic Solutions				Engineering				Adjustments, eliminations and unallocated items				Consolidated
External Customers			266.7				36.4				—				303.2
Inter-Segment			0.7				26.9				(27.6	)			—
Revenue			267.5				63.3				(27.6	)			303.2
Gross Profit			85.7				6.6				(3.8	)			88.5
Gross Profit Margin			32.0	%			10.4	%							29.2	%
Operating Profit			59.0				(0.7	)			(5.6	)			52.7
Operating Profit Margin			22.1	%			(1.1	)%							17.4	%

		For the nine months ended September 30, 2026
		Biopharmaceutical and Diagnostic Solutions				Engineering				Adjustments, eliminations and unallocated items				Consolidated
External Customers			809.2				92.4				—				901.6
Inter-Segment			0.8				71.4				(72.2	)			—
Revenue			810.0				163.8				(72.2	)			901.6
Gross Profit			247.9				20.6				(11.6	)			256.9
Gross Profit Margin			30.6	%			12.6	%							28.5	%
Operating Profit			154.0				6.0				(21.9	)			138.1
Operating Profit Margin			19.0	%			3.6	%							15.3	%

		For the nine months ended September 30, 2025
		Biopharmaceutical and Diagnostic Solutions				Engineering				Adjustments, eliminations and unallocated items				Consolidated
External Customers			731.1				108.7				—				839.8
Inter-Segment			2.0				97.0				(99.0	)			—
Revenue			733.1				205.7				(99.0	)			839.8
Gross Profit			231.2				19.1				(13.3	)			237.0
Gross Profit Margin			31.5	%			9.3	%							28.2	%
Operating Profit			147.3				2.5				(21.1	)			128.7
Operating Profit Margin			20.1	%			1.2	%							15.3	%

Cash Flow
(Amounts in € millions)
		For the three months ended September 30,								For the nine months ended September 30,
		2026			2025				2026				2025
Cash flow from operating activities			57.6				47.2				165.0				192.0
Cash flow used in investing activities			(32.4	)			(48.2	)			(166.7	)			(178.6	)
Cash flow (used in)/ generated from financing activities			10.3				19.4				(16.5	)			4.9
Net change in cash and cash equivalents			35.5				18.4				(18.2	)			18.3

Non-GAAP Financial Information

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

Reconciliation of Revenue to Organic Revenue
(Amounts in € millions)
		(Amounts in EUR million, except as indicated otherwise)
		Biopharmaceutical and Diagnostic Solutions												Engineering				Consolidated
Change in Organic Revenue for the three months ended September 30, 2026		High-Value Solutions				Other containment and delivery solutions				Total Biopharmaceutical and Diagnostic Solutions				Total Engineering				Total Consolidated
Revenue for the three months ended September 30, 2026			149.4				144.6				294.0				32.0				326.1
Effect of changes in currency translation rates			(0.5	)			(1.4	)			(1.9	)			0.0				(1.9	)
Constant Currency/ Organic Revenue for the three months ended September 30, 2026 (*)			148.9				143.2				292.1				32.1				324.1
Revenue for the three months ended September 30, 2025			147.9				118.8				266.7				36.4				303.2
Less: Impact from the sale of Balda C. Brewer Inc.			(0.9	)			(2.7	)			(3.6	)			—				(3.6	)
Revenue for the three months ended September 30, 2025, excluding impact from divestments			147.0				116.1				263.1				36.4				299.6
Change in Organic Revenue			1.9				27.1				28.9				(4.4	)			24.6
% Change in Organic Revenue			1.3	%			23.3	%			11.0	%			(11.9	)%			8.2	%
(*) As no acquisition-related adjustments were required for the three months ended September 30, 2026, Constant Currency Revenue and Organic Revenue were equal for the period.

		(Amounts in EUR million, except as indicated otherwise)
		Biopharmaceutical and Diagnostic Solutions												Engineering				Consolidated
Change in Organic Revenue for the nine months ended September 30, 2026		High-Value Solutions				Other containment and delivery solutions				Total Biopharmaceutical and Diagnostic Solutions				Total Engineering				Total Consolidated
Revenue for the nine months ended September 30, 2026			414.0				395.2				809.2				92.4				901.6
Effect of changes in currency translation rates			6.9				—				6.9				0.2				7.1
Constant Currency / Organic Revenue for the nine months ended September 30, 2026 (*)			420.9				395.2				816.1				92.6				908.7
Revenue for the nine months ended September 30, 2025			375.0				356.1				731.1				108.7				839.8
Less: Impact from the sale of Balda C. Brewer Inc.			(0.9	)			(2.7	)			(3.6	)			—				(3.6	)
Revenue for the nine months ended September 30, 2025, excluding impact from divestments			374.1				353.4				727.5				108.7				836.2
Change in Organic Revenue			46.8				41.8				88.6				(16.1	)			72.5
% Change in Organic Revenue			12.5	%			11.8	%			12.2	%			(14.8	)%			8.7	%
(*) As no acquisition-related adjustments were required for the nine months ended September 30, 2026, Constant Currency Revenue and Organic Revenue were equal for the period.

Reconciliation of EBITDA
(Amounts in € millions)
		For the three months ended September 30,								Change				For the nine months ended September 30,								Change
		2026			2025					%			2026				2025					%
Net Profit			41.8				36.1				16.0	%			92.8				92.3				0.6	%
Income Taxes			17.7				13.1				35.7	%			44.1				31.1				41.9	%
Finance Income			(1.8	)			(0.5	)			280.2	%			(6.2	)			(13.9	)			(55.6	)%
Finance Expense			2.6				4.1				(37.1	)%			7.4				19.3				(61.7	)%
Operating Profit			60.3				52.7				14.5	%			138.1				128.7				7.3	%
Depreciation and Amortization			25.6				21.8				17.5	%			74.4				64.0				16.3	%
EBITDA			85.9				74.5				15.3	%			212.6				192.7				10.3	%

Calculation of Net Profit Margin, Operating Profit Margin, Adjusted EBITDA Margin and Adjusted Operating Profit Margin
(Amounts in € millions)
		For the three months ended September 30,								For the nine months ended September 30,
		2026			2025				2026				2025
Revenue			326.1				303.2				901.6				839.8
Net Profit Margin (Net Profit/ Revenue)			12.8	%			11.9	%			10.3	%			11.0	%
Operating Profit Margin (Operating Profit/ Revenue)			18.5	%			17.4	%			15.3	%			15.3	%
Adjusted EBITDA Margin (Adjusted EBITDA/ Revenue)			27.2	%			25.7	%			25.8	%			23.8	%
Adjusted Operating Profit Margin (Adjusted Operating Profit/ Revenue)			19.4	%			18.5	%			17.6	%			16.2	%

Reconciliation of Reported and Adjusted EBITDA, Operating Profit, Income Taxes,
Net Profit, and Diluted EPS
(Amounts in € millions, except per share data)
Three months ended September 30, 2026		EBITDA				Operating Profit				Income Taxes (4)				Net Profit				Diluted EPS (EUR)
Reported			85.9				60.3				17.7				41.8				0.15
Adjusting items:
Start-up costs new plants (1)			2.4				2.4				0.6				1.8				0.01
Restructuring and related charges (2)			0.5				0.5				0.1				0.4				0.00
Adjusted			88.8				63.2				18.5				44.0				0.16
Adjusted Margin			27.2	%			19.4	%

Three months ended September 30, 2025		EBITDA				Operating Profit				Income Taxes (4)				Net Profit				Diluted EPS (EUR)
Reported			74.5				52.7				13.1				36.1				0.13
Adjusting items:
Start-up costs new plants (1)			2.4				2.4				0.7				1.8				0.01
Restructuring and related charges (2)			0.9				0.9				0.2				0.7				0.00
Adjusted			77.8				56.1				14.0				38.5				0.14
Adjusted Margin			25.7	%			18.5	%

Nine months ended September 30, 2026		EBITDA				Operating Profit				Income Taxes (4)				Net Profit				Diluted EPS (EUR)
Reported			212.6				138.1				44.1				92.8				0.34
Adjusting items:
Start-up costs new plants (1)			6.7				6.7				1.7				5.0				0.02
Restructuring and related charges (2)			1.5				1.5				0.4				1.1				0.00
Loss on sale of subsidiary and related transaction costs (3)			12.2				12.2				—				12.2				0.04
Adjusted			233.0				158.5				46.2				111.1				0.41
Adjusted Margin			25.8	%			17.6	%

Nine months ended September 30, 2025		EBITDA				Operating Profit				Income Taxes (4)				Net Profit				Diluted EPS (EUR)
Reported			192.7				128.7				31.1				92.3				0.34
Adjusting items:
Start-up costs new plants (1)			4.5				4.5				1.2				3.3				0.01
Restructuring and related charges (2)			3.1				3.1				0.8				2.3				0.01
Adjusted			200.3				136.3				33.0				97.9				0.36
Adjusted Margin			23.8	%			16.2	%

(1) During the three and the nine months ended September 30, 2026, the Group recorded EUR 2.4 million and EUR 6.7 million, respectively, of start-up costs for the new plants in Fishers, Indiana, United States, and in Latina, Italy. These costs are primarily related to labor costs for training and travel of personnel who are in the learning and development phase and not active in the manufacturing of products. During the three and the nine months ended September 30, 2025, the Group recorded EUR 2.4 million and EUR 4.5 million, respectively, of start-up costs for the new plants in Fishers, Indiana, United States, and in Latina, Italy.

(2) During the three and the nine months ended September 30, 2026, the Group recorded EUR 0.5 million and EUR 1.5 million, respectively, of restructuring and related charges among cost of sales, and selling and marketing and general and administrative expenses. These charges mainly relate to (i) employee costs arising from the reorganization of certain business functions across the Group and (ii) employee costs associated with a business reorganization and optimization plan in Denmark. During the three and the nine months ended September 30, 2025, the Group recorded EUR 0.9 million and EUR 3.1 million, respectively, of restructuring and related charges among cost of sales, general and administrative expenses. These are mainly employee costs related to the reorganization of some business functions.

(3) During the nine months ended September 30, 2026, the Group recorded EUR 12.2 million loss on sale of the subsidiary Balda C. Brewer Inc. and related transaction costs.

(4) The income tax adjustment is calculated by multiplying the applicable nominal tax rate to the adjusting items.

Capital Employed
(Amounts in € millions)
		As of September 30, 2026				As of December 31, 2025
- Goodwill and intangible assets			91.7				86.8
- Right of use assets			10.6				12.4
- Property, plant, and equipment			1,493.9				1,391.5
- Financial assets - investments FVTPL			0.1				0.2
- Other non-current financial assets			1.1				5.5
- Deferred tax assets			108.9				103.9
Non-current assets excluding FV of derivative financial instruments and receivable for the sale of subsidiary			1,706.3				1,600.3
- Inventories			301.6				268.2
- Contract assets			161.4				180.5
- Trade receivables			314.9				302.7
- Trade payables			(244.4	)			(263.3	)
- Advances from customers			(23.3	)			(33.4	)
- Non-current advances from customers			(96.4	)			(98.8	)
- Contract liabilities			(12.4	)			(10.4	)
Trade working capital			401.2				345.4
- Tax receivables and other receivables			55.3				50.6
- Current financial receivables - rent to buy agreement			8.5				8.6
- Tax payables and other current liabilities			(141.0	)			(100.8	)
- Current provisions			(3.2	)			(4.4	)
Net working capital			320.7				299.3
- Deferred tax liabilities			(14.3	)			(13.3	)
- Employees benefits			(6.4	)			(6.8	)
- Non-current provisions			(1.1	)			(3.2	)
- Other non-current liabilities			(57.5	)			(52.1	)
Total non-current liabilities and provisions			(79.3	)			(75.4	)
Capital employed			1,947.7				1,824.2
Net (debt) /cash			(353.7	)			(337.7	)
Total Equity			(1,594.0	)			(1,486.5	)
Total equity and net (debt)/ cash			(1,947.7	)			(1,824.2	)

Free Cash Flow
(Amounts in € millions)
		For the three months ended September 30,							For the nine months ended September 30,
		2026			2025				2026				2025
Net cash flow from operating activities			57.6				47.2				165.0				192.0
Interest paid			0.4				1.4				3.0				4.9
Interest received			(0.3	)			(0.2	)			(1.0	)			(1.2	)
Purchase of property, plant, and equipment			(33.3	)			(46.4	)			(157.2	)			(174.4	)
Proceeds from sale of property, plant, and equipment			0.3				0.2				0.8				1.6
Refund of capitalized costs of property, plant, and equipment			—				—				0.1				—
Purchase of intangible assets			(3.0	)			(2.0	)			(15.5	)			(6.0	)
Free Cash Flow			21.7				0.3				(4.8	)			16.9

Net (Debt) / Net Cash
(Amounts in € millions)
		As of September 30,			As of December 31,
		2026			2025
Non-current financial liabilities			(343.4	)			(347.4	)
Current financial liabilities			(130.1	)			(123.5	)
Other non-current financial assets - Fair value of derivatives financial instruments			1.2				0.3
Other non-current financial assets - Receivable related to the sale of a subsidiary			1.2				—
Other current financial assets other than financial receivables for rent to buy agreement			2.2				2.2
Other current financial assets - Receivable related to the sale of a subsidiary			0.3				—
Cash and cash equivalents			114.9				130.6
Net (Debt)/ Cash			(353.7	)			(337.7	)

CAPEX
(Amounts in € millions)
		For the three months ended September 30,							Change					For the nine months ended September 30,							Change
		2026			2025				€					2026			2025				€
Addition to Property, plant, and equipment			40.3				52.9				(12.6	)			150.6				187.7				(37.1	)
Addition to Intangible Assets			4.5				2.0				2.5				13.7				6.0				7.7
CAPEX			44.8				54.9				(10.1	)			164.3				193.7				(29.4	)

Reconciliation of 2026 Guidance*
Reported and Adjusted EBITDA, Operating Profit, Net Profit, Diluted EPS
(Amounts in € millions, except per share data)
		Revenue				EBITDA		Operating Profit		Net Profit		Diluted EPS (EUR)
Reported		1,260.0 - 1,280.0				311.5 - 321.7		209.6 - 219.8		143.3 - 150.3		0.53 - 0.55
Adjusting items:
Start-up costs new plants and Restructuring charges			—			11.3		11.3		8.2		0.03
Loss on sale of subsidiary and related transaction costs			—			12.2		12.2		12.2		0.04
Adjusted		1,260.0 - 1,280.0				335.0 - 345.2		233.1 - 243.3		163.6 - 170.8		0.60 - 0.62
*Amounts may not add due to rounding

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20261103982812/en/

Media
Caterina Tripepi
caterina.tripepi@stevanatogroup.com

Investor Relations
Lisa Miles
lisa.miles@stevanatogroup.co
Giacomo Guiducci
giacomo.guiducci@stevanatogroup.com

Source: Stevanato Group S.p.A.

Key Terms

ebitda financial

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

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glp-1 medical

GLP-1 (glucagon-like peptide-1) is a natural hormone in the body that helps regulate blood sugar levels and appetite. Its significance to investors lies in its role as the basis for a class of medications that address conditions like type 2 diabetes and obesity, which are large and growing markets. Advances or investments in GLP-1-based treatments can signal opportunities in healthcare innovation and potentially impact pharmaceutical companies’ growth.

non-gaap financial

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

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free cash flow financial

Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.

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