Stevanato Group, a 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 second quarter of 2025.
In Q2 2025, Stevanato Group reported an 8% year-over-year revenue increase (10% at constant currency), reaching €280m.
This growth was primarily driven by a 10% rise in the Biopharmaceutical and Diagnostic Solutions (BDS) Segment, which offset a 2% decline in the Engineering Segment.
Revenue from high-value solutions rose to €116.8m (42% of total revenue), supported by strong demand for high-value syringes and, to a lesser extent, EZ-fill cartridges and vials.
Gross profit margin improved by 210 basis points to 28.1%, thanks to operational scale at the Latina and Fishers facilities and a more profitable product mix.
Operating profit margin rose by 400 basis points to 14.8%, with adjusted operating margin reaching 15.5%, aided by cost management efforts.
Segment highlights
BDS Segment
- Revenue increased 10% (12% at constant currency) to €243.5m.
- High-value solutions made up 48% of BDS revenue, driven by strong syringe demand and expansion at key facilities.
- Other containment and delivery solutions grew 6% to €126.7m.
- Gross profit margin rose 350 basis points to 31.2%, and operating margin improved by 460 basis points to 19.1%.
Engineering segment
- Revenue declined 2% to €36.5 million due to reduced demand in glass converting.
- Gross margin fell to 6.6%; operating margin turned negative at -0.8%, impacted by an unfavourable project mix and delays in new orders.
- Legacy projects are nearly complete, with remaining ones expected to finish by year-end.
Financial position and cash flow
- Cash and equivalents: €94.2m: net debt: €312.4m.
- * Recently secured €200m in financing to support growth initiatives in Italy and the US.
- * Capital expenditures were €69.1m, aimed at expanding high-value solution capacity.
- * Operating cash flow was €44.9m; free cash flow improved to -€13m (versus -€46.1m in Q2 2024).
2025 Outlook
The company reaffirmed its 2025 guidance.
- Revenue: €1.160–€1.190bn
- Adjusted EBITDA: €288.5–€301.8m
- Adjusted diluted EPS: €0.50–€0.54
CEO Franco Stevanato emphasised the company’s focus on disciplined execution, innovation and meeting rising demand driven by pharmaceutical advancements and biologics, reinforcing its long-term value creation strategy.