Stevanato Group (STVN) Jefferies Global Healthcare Conference summary

Business overview and market position

• Holds a leading global position in pen cartridges, EZ-fill vials, and prefillable syringes, with strong growth in these segments.

• Serves over 700 customers worldwide, including major biopharma and diagnostic companies.

• Celebrating 75 years in business, with 50 years focused on the pharmaceutical industry.

• Operates 16 sites in 9 countries, providing security of supply and scientific services.

• Biopharma Diagnostic Solutions (BDS) accounts for 81% of revenue, Engineering for 19%.

Strategic investments and expansion

• Significant investments in new facilities in Indiana, USA, and expanded capacity in Italy and China.

• Fishers, Indiana facility is the largest investment, aiming to replicate European capabilities for the US market.

• Capital investments are demand-driven, focused on high-value solutions like EZ-fill, Nexa, and Alba.

• Targeting a 1:1 revenue-to-investment ratio and ROI above 20% for new projects.

• IPO in 2021 enabled capital raising for global expansion and innovation.

Product innovation and customer solutions

• Offers integrated solutions from early-stage development to commercial scale, including custom packaging and automated assembly.

• High-value solutions represented 34% of revenue in 2023 and are expected to grow.

• Biologics, GLP-1s, and ready-to-fill cartridges are key growth drivers.

• Focus on innovation in glass, device, engineering, and process automation.

• Partnerships with strategic and emerging biotech customers to develop new programs.