Stevanato Group ends 2019 with double-digit growth and revenues of €570M

Italy-based Stevanato Group, a leading producer of pharmaceutical glass containers and integrated provider of drug delivery systems, continued its growth in 2019, recording a positive trend on key financial indicators, with consolidated revenues of €570.3 million, an increase of +10.9% compared to 2018.

In the press release, the company said it’s EBITDA reached € 111.1 million, representing a margin on revenue of 19.5%.

The year was characterized by growth in all business areas and high value-added products. Specifically, there was a good performance in ready-to-fill sterilized glass containers (EZ-fill®). At the same time, from a geographical point of view, the increase was significant in the United States and China; the company recorded the usual positive trend in the European market. Regarding the business segments in which the company operates, there was good growth in the biotechnology sector, among others.

During 2019, the company made significant investments in the construction of the new syringe production plant at the Piombino Dese headquarters, which will operate at full capacity in 2021. Besides, construction works of the Technology Excellence Center – US TEC, in Boston started, and the center will be inaugurated next September. It will offer analytical services that study the container closure integrity and the integration of the closure system into drug delivery systems.

Outlook

Stevanato Group’s industrial plan for the next four years (2020-2023) foresees a sustained growth in terms of margins and turnover, the latter in a percentage significantly higher than that of the pharmaceutical market, which is estimated at around 5% per year. Proprietary products will play an essential role in this growth, which will benefit from the investments made by the Group in recent years in research & development and the acquisition of patents.

The Group will focus on the continuous development of high value-added glass primary packaging such as the EZ-fill® platform, closure and safety systems for syringes – Integrated Tip Cap (ITC) and Integrated Safety System (ISS) respectively, and high-performance syringes (SG Nexa and SG Alba®). It will also focus on plastic systems for diagnostics, proprietary, and licensed drug delivery systems, inspection machines of filled containers, and highly automated assembly equipment for medical devices. Growth continues to be steady in all geographical areas, and the Group’s presence will continue to increase in the field of biological products.

The plan includes a significant investment program of almost €400 million over the four years. More than half will be devoted to expanding production for the EZ-fill® platform. At the same time, significant amounts will be allocated to research and development programs for the manufacture of drug delivery systems – proprietary, licensed, and for third parties. In this framework, there are the exclusive licensing agreements signed in 2019 with two major players in the medical sector, Duoject Medical Systems, and Haselmeier, for the production of Maverick™ (emergency-use auto-injector) and SG Alina™ (pen injector for the diabetes treatment), respectively. Further examples are SG EZ-be POD® (a proprietary wearable device for the diabetes treatment) and ICOCap® (a licensed inhaler for asthma and COPD).

The company will also invest in major digital innovation programs, staff safety, and eco-sustainability programs.

“The results we achieved in 2019 are significant and testify to our offer’s excellence and the high professionalism of our employees”, commented Franco Stevanato, Stevanato Group CEO. “We have launched a major investment plan for the next four years to consolidate and increase our portfolio of quality, high value-added products, technologies, and services to support biopharmaceutical and diagnostic companies. We want to continue on the path of growth and development by working as a trusted partner with our customers globally to improve patients’ lives.”

As a key player in the pharmaceutical and healthcare market, Stevanato Group has recently confirmed its commitment to the fight against Coronavirus. To respond to pharmaceutical companies’ growing manufacturing needs, it has proactively increased its worldwide production capacity. It is also involved in about 30 programs for the supply of glass vials for vaccines and treatments and in about ten programs for the supply of plastic components for diagnostic kits for virus detection. Since the beginning of the pandemic, the company has implemented all safety and health measures to protect the employees in all its operations.