STVN

Never miss an important update on your stock portfolio and cut through the noise. Over 7 million investors trust Simply Wall St to stay informed where it matters for FREE. Stevanato Group (STVN) has been in focus after its early August 2026 earnings report, which combined higher sales with lower net income, alongside updated full year revenue and earnings guidance. For the second quarter ended June 30, 2026, Stevanato Group reported sales of €302 million compared with €280.04 million a year earlier. Net income for the quarter was €22.96 million compared with €29.7 million in the prior year period. Basic and diluted earnings per share from continuing operations for the quarter were €0.08, compared with €0.11 a year earlier. For the first six months of 2026, sales were €575.58 million compared with €536.63 million a year ago. Net income for the half year was €50.99 million compared with €56.22 million in the prior year period. On the same day, the company updated its full year 2026 guidance. Stevanato Group now expects revenue between €1.260 billion and €1.280 billion, compared with the prior range of €1.260 billion to €1.290 billion. It forecasts operating profit between €209.6 million and €219.8 million, net profit between €143.3 million and €150.3 million, and diluted EPS between €0.53 and €0.55. See our latest analysis for Stevanato Group. Following these earnings and guidance updates, Stevanato Group’s share price of $20.58 sits against a 1-month share price return of 5.05% and a 3-month share price return of 12.83%, while the 1-year total shareholder return has declined 5.47% and the 3-year total shareholder return has declined 33.6%. This suggests that shorter-term momentum has picked up even as longer-term performance has been weaker. If you are considering how Stevanato Group fits alongside other opportunities in healthcare delivery and devices, it can be useful to see what else is gaining attention. One place to start is with a focused set of 43 healthcare AI stocks Stevanato Group now trades at $20.58 while analyst targets and intrinsic value estimates sit meaningfully higher. How wide is that gap in practice, and what does the current price imply about fair value today? Stevanato Group’s most followed narrative sees fair value at $24.39, above the current $20.58 share price, and frames that gap around long term earnings power. Read the complete narrative. Want to see what sits behind that valuation gap? The narrative focuses on rising earnings, richer margins, and a future profit multiple that assumes sustained demand. It also highlights specific growth and margin paths that are used to support that fair value. Result: Fair Value of $24.39 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, Stevanato Group’s story can change quickly if capital spending keeps free cash flow under pressure, or if key biopharma customers reduce orders or switch suppliers. Find out about the key risks to this Stevanato Group narrative. The first narrative points to Stevanato Group looking 15.6% undervalued against a fair value of $24.39. On earnings multiples, the picture is less generous. STVN trades on a P/E of 36.2x versus a fair ratio of 24.8x, which implies the market is already pricing in a lot of future success. That P/E also sits slightly below the Global Life Sciences average of 37x yet below the peer average of 50.1x, so the stock looks cheaper than similar companies but richer than its own fair ratio suggests. For investors, the key question is whether that gap represents paid-up optimism or a margin of safety waiting to emerge. See what the numbers say about this price — find out in our valuation breakdown. After weighing both the earnings picture and the valuation gap, do you feel optimistic or cautious about Stevanato Group? Take a closer look at the specific positives that current investors are focused on by reviewing the 4 key rewards Do not stop your research with Stevanato Group. The next stock that fits your goals could already be on a short list waiting for you to review it. Spot potential value plays before others by checking a focused set of 51 high quality undervalued stocks that pair quality fundamentals with attractive pricing. Secure your downside first by reviewing 83 resilient stocks with low risk scores that score well on resilience and financial strength. Get ahead of the crowd by scanning a screener containing 21 high quality undiscovered gems that screens for quality companies still flying under most investors' radar. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include STVN. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide. Stevanato Group stock has declined 34.6% over the past three years, and current checks send mixed valuation signals, with an intrinsic value estimate suggesting the shares trade at a discount while market multiples point to a richer price tag. Stevanato Group has fallen 34.6% over three years, which puts extra focus on whether the current share price still reflects the long term potential of its drug delivery and packaging business. Commercial progress for the Alina pen injector platform in European diabetes and weight management therapies can support cash flow expectations, while any disappointment in demand for injectable treatments may weigh on how much investors are willing to pay for the stock. The company screens as undervalued in 5 of 6 checks, which means the broader valuation work leans cheap even though earnings based multiples suggest the shares are overvalued relative to the intrinsic value estimate. The key question is whether Stevanato Group’s current price offers enough margin of safety when the Discounted Cash Flow (DCF) analysis points to meaningful upside, while the earnings multiples send a more cautious message. Find out why Stevanato Group's -6.9% return over the last year is lagging behind its peers. The Discounted Cash Flow (DCF) model estimates what Stevanato Group could be worth based on its future cash generation. For the latest twelve months the company reported free cash flow of about €86 million in outflows, so the current valuation work leans on a recovery path that moves from recent investment heavy years to positive free cash flow over time. On that basis, the DCF model points to an intrinsic value of about $27.50 per share, which sits roughly 26.3% above the current market price. The recent marketing authorizations for liraglutide products using the Alina pen injector in several European countries help explain why the cash flow projections factor in ongoing demand for injectable therapies, even if the market price still lags the model output. Putting it together, the Discounted Cash Flow view suggests Stevanato Group stock currently screens as undervalued. Our Discounted Cash Flow (DCF) analysis suggests Stevanato Group is undervalued by 26.3%. Track this in your watchlist or portfolio, or discover 52 more high quality undervalued stocks. Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Stevanato Group. P/E is usually one of the clearest ways to compare Stevanato Group with other profitable medical technology and life sciences companies. It links what you pay today to the earnings the business is already generating. Stevanato Group currently trades on a P/E of about 35.6x. That sits slightly below the life sciences industry average of 37.0x and also below the peer group average of 49.9x. On the surface, the stock appears cheaper than many listed peers on earnings, which can catch the eye if you focus only on raw multiples. The fair P/E ratio implied by the broader model is 24.8x. This is the level that would better fit Stevanato Group once factors such as its size, margins and risk profile are taken into account. The current P/E sits comfortably above that fair multiple, which indicates a richer price tag than the tailored benchmark suggests. Overall, Stevanato Group stock appears overvalued on its current P/E multiple relative to the modelled fair level. See what the numbers say about this price — find out in our valuation breakdown. Simply Wall St Narratives pick up where the Stevanato Group valuation puzzle leaves off. They spell out the specific assumptions on growth, margins and earnings that would need to be true for Stevanato Group's stock to be worth materially more or less than today’s price, and rather than focusing on a single multiple or model, each narrative lays out its own fair value assumptions so you can compare them with the company’s actual results over time on the Community page. Community views on Stevanato Group sit quite far apart, with one side focused on biologics driven upside and the other on regulatory and competitive pressure. Bull case: 17% undervalued Read the full Bull Case to see why Stevanato Group could be undervalued Bear case: roughly fairly valued Read the full Bear Case to see why Stevanato Group could be overvalued Do you think there's more to the story for Stevanato Group? Head over to our Community to see what others are saying! For Stevanato Group, the Discounted Cash Flow (DCF) work points to meaningful upside, while the current P/E suggests the stock already carries a premium to its modelled fair multiple. The broader valuation checks still lean strong. This keeps the intrinsic value signal in play even though earnings based comparisons look less generous. That split reflects different weight on funding needs and future cash generation versus what peers and sentiment currently imply. The key question from here is whether demand and pricing for Stevanato Group’s drug delivery platforms are strong and durable enough to turn today’s DCF discount into realised value rather than a value trap. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include STVN. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Interested in Stevanato Group S.p.A.? Here are five stocks we like better. Q2 revenue rose 8% to €302 million, driven by 9% growth in Biopharmaceutical and Diagnostic Solutions and a 16% increase in high-value solutions. Adjusted EBITDA grew 21% to €78.7 million, expanding the margin to 26%. Stevanato completed the divestiture of Balda C. Brewer, incurring €12.2 million in one-time costs but refocusing the portfolio on higher-value biologics and integrated drug-delivery products, including its Alina pen platform and new Deora injector. The company lowered its 2026 revenue forecast to €1.260 billion–€1.280 billion to reflect the divestiture, while maintaining adjusted EBITDA guidance of €335 million–€345.2 million and adjusted EPS guidance of €0.60–€0.62. 3 Newly Public Stocks Notching Solid 2021 Growth Stevanato Group (NYSE:STVN) reported second-quarter 2026 revenue growth of 8% as demand for higher-value drug containment and delivery products helped lift profitability, while the company updated its full-year outlook to reflect the divestiture of its California-based Balda C. Brewer subsidiary. Revenue for the quarter reached €302 million, up 8% both on a reported and constant-currency basis. The Biopharmaceutical and Diagnostic Solutions, or BDS, segment grew 9% to €266.2 million, offsetting a 2% decline in Engineering segment revenue to €35.8 million. → No Hangover: Revisiting Microsoft One Week After Earnings Chairman and Chief Executive Officer Franco Stevanato said the results were broadly in line with the company’s expectations and reflected the continued shift toward more complex, differentiated products. Revenue from high-value solutions rose 16% to €135.9 million, representing 45% of total revenue and about 51% of BDS revenue. “Demand for injectable biologics remains strong,” Stevanato said, pointing to more than 9,000 injectable assets in the global drug pipeline, with biologics accounting for more than 60% of those assets. The company said biologics revenue grew 30% during the quarter, while GLP-1-related revenue represented approximately 22% to 23% of company revenue. → MarketBeat Week in Review – 08/03 - 08/07 Gross profit margin increased 60 basis points to 28.7%, supported by operational improvements at the company’s Latina, Italy, and Fishers, Indiana, facilities, as well as a greater contribution from high-value solutions and better Engineering profitability. Those gains were partly offset by higher depreciation, utility costs and currency headwinds. Adjusted EBITDA increased 21% to €78.7 million, and adjusted EBITDA margin expanded 180 basis points to 26%. Adjusted operating profit margin rose 250 basis points to 18%. → Why the Landlord of the AI Boom Could Outlast the Chipmakers The company completed the sale of Balda C. Brewer during the quarter, recording €12.2 million in one-time expenses related to the transaction. The California business had been expected to generate about €30 million in fiscal 2026 revenue and had slightly positive EBITDA, according to management. Stevanato said the transaction is expected to improve full-year margins. Reported net profit totaled €23 million, or €0.08 per diluted share, reflecting the divestiture-related expenses and a higher tax rate. Adjusted net profit rose 20% to €37.6 million, while adjusted diluted earnings per share increased to €0.14. Stevanato said the Balda C. Brewer divestiture advances its strategy of concentrating resources on higher-value drug delivery systems and biologics-related applications. The California subsidiary primarily provided contract manufacturing for standard consumables and point-of-care diagnostic applications. Management said it does not currently have another significant divestiture initiative under review, but expects to gradually devote less attention to certain lower-value products and bulk activities. Those may include standard ampoules and some diagnostic plastic components, as the company reallocates capacity toward EZ-fill products and drug delivery systems. The company highlighted a regulatory approval in several European countries for a liraglutide-based therapy using its proprietary Alina variable-dose pen platform. The approval covers diabetes and weight-management applications and incorporates Stevanato’s cartridge technology. Stevanato said Alina revenue is included in its 2026 guidance and expects the platform to deliver double-digit revenue growth in subsequent years. Additional validation is expected in North America during the second half of 2026, management said. The company is expanding manufacturing capacity for Alina at its German facility. The company also introduced Deora, a multi-use fixed-dose pen injector compatible with pre-filled cartridges of up to 3 milliliters. Stevanato said Deora will require time to reach commercial production but represents a future opportunity in treatments requiring precise patient adherence to dosing regimens. Engineering revenue declined as lower sales of pharmaceutical visual-inspection equipment and glass-converting equipment offset growth in assembly lines and after-sales activity. However, segment profitability improved sharply as the company continued to execute an optimization plan. Engineering gross profit margin increased 540 basis points to 12%. Engineering operating profit margin increased 370 basis points to 2.9%. Management cited improved operating results and a favorable project mix in its Danish operations. Stevanato said it is seeing progress in new order wins, particularly for visual-inspection equipment in Europe and Asia and assembly technologies in Europe and the U.S. Still, executives said sales cycles remain longer than in prior years and project timing can affect results. The company’s Engineering organization includes an Italian center focused on visual inspection and customized assembly technology, and a Danish operation focused on sophisticated high-speed assembly lines. At its Fishers facility, Stevanato completed initial performance qualification for its first EZ-fill vial line and expects to begin customer validation shortly. The company remains on track to begin commercial production for its first device program at the site later in 2026. In Latina, syringe production is continuing to ramp as the company validates new customers. Its next-generation RT400 cartridge line is expected to be installed within the next several months, with commercial production anticipated in 2027. Chief Financial Officer Marco Dal Lago said Fishers is planned to reach full ramp-up by the end of 2028. The company is maintaining some available capacity at both facilities to support customer sampling and future validation programs. Stevanato ended the quarter with €78.6 million in cash and cash equivalents and €360.3 million in net debt. Capital expenditures totaled €52 million, largely tied to growth investments, the Alina device program in Germany and contract manufacturing activities. Operating cash flow was €31.9 million, while free cash flow was negative €32 million. Stevanato lowered its fiscal 2026 revenue outlook to a range of €1.260 billion to €1.280 billion, incorporating an approximately €15 million reduction from the Balda C. Brewer divestiture. The company said better-than-expected currency translation and stronger organic growth in its core operations partly offset the revenue reduction. The company now expects adjusted EBITDA of €335 million to €345.2 million and adjusted diluted EPS of €0.60 to €0.62. High-value solutions are expected to account for 47% to 48% of total revenue, while free cash flow is projected in a range from breakeven to positive €20 million. For the year, Stevanato expects reported BDS revenue to grow at a high-single-digit rate, though Dal Lago said organic BDS growth remains double digit after accounting for the divestiture and currency effects. Engineering revenue is expected to decline by a mid-single-digit to low-double-digit percentage. Stevanato Group is a global provider of primary packaging solutions and related services for the pharmaceutical and biotech industries. The company specializes in the design, development and manufacturing of glass drug containers such as vials, cartridges and pre-fillable syringes, as well as advanced inspection systems and assembly equipment. Its integrated offerings cover the entire packaging supply chain, from component production to bespoke filling lines and serialization technology. In addition to its core glass business, Stevanato Group delivers engineering services and process validation support to pharmaceutical customers. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Stevanato Group Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Image source: The Motley Fool. Tuesday, Aug. 4, 2026 at 8:30 a.m. ET Chairman and Chief Executive Officer - Franco Stevanato Chief Financial Officer - Marco Dal Lago Chief Communications and IR Officer - Lisa Miles Operator: Good afternoon. This is the Chorus Call conference operator. Welcome, and thank you for joining the Stevanato Group Half Year 2026 Financial Results Conference Call. [Operator Instructions] At this time, I would like to turn the conference over to Ms. Lisa Miles, Chief Communications and IR Officer. Please go ahead, madam. Lisa Miles: Good morning, and thank you for joining us. With me today is Franco Stevanato, Chairman and Chief Executive Officer; and Marco Dal Lago, Chief Financial Officer. We have posted a presentation to accompany today's results on the Investor Relations page of our website, which can be located under the Financial Results tab. I want to remind everyone that some statements being made today are forward-looking and based on current expectations. Actual results may differ materially due to risks outlined in Item 3D, Risk Factors, of our most recent annual report on Form 20-F filed with the SEC. Please review the safe harbor statement included at the beginning of today's presentation and in our press release. The company undertakes no obligation to revise or update these forward-looking statements, except as required by law. Today's presentation may include non-GAAP financial information. Management uses these measures internally to assess performance and believes they may be helpful for investors in evaluating the quality of our financial results, identifying trends in our performance and providing meaningful period-to-period comparisons. For a reconciliation of these non-GAAP measures, please refer to the company's most recent earnings press release. And with that, I'll hand the call over to Franco Stevanato. Franco Stevanato: Thank you for joining us. Today, we'll review our second quarter performance, share an update on market trends in our 2 segments, including our investment projects and discuss the current environment. Our second quarter financial results were largely in line with our expectations, highlighted by solid revenue growth and a better mix of high-value solutions that drove expanded margins and adjusted EBITDA of 26%. Revenue grew 8% year-over-year, driven by a 9% revenue increase in the Biopharmaceutical and Diagnostic Solutions segment, which offset a slight decline in Engineering segment. Revenue from high-value solutions grew 16% and represented 45% of the total company revenue in the second quarter of 2026, driven by a 30% increase in revenue from biologics, the fastest-growing end market. Revenue related to GLPs was approximately 22% to 23% of total company revenue. As we disclosed this morning, we completed the divestiture of our California-based subsidiary, Balda C. Brewer, which specializes in contract manufacturing services, primarily for consumables and point-of-care diagnostic applications. This initiative represents another step consistent with our long-term goal to continue optimizing our footprint and accelerating the transition towards more complex, differentiated and integrated drug delivery systems. On behalf of management, I would like to thank the Balda team for their dedication and contribution to our group over the years. Demand for injectable biologics remains strong with more than 9,000 injectable assets in the global drug pipeline undergoing clinical evaluation or registration and more than 60% of those are biologics. Our strategy is firmly anchored in the higher-value subsets of the market and the business is positioned as a leader in biologic applications. The rapid growth of biologics, GLP therapies and increasing patient adoption of the self-administration of medicines is reshaping how pharmaceutical companies approach product development and commercialization. Drug delivery systems are playing an increasingly strategic role in the success of injectable therapies. As a result, we see strong customer demand for integrated solutions that combine device innovation, manufacturing expertise and supply chain reliability. We believe our broad portfolio of drug delivery platforms and our end-to-end capabilities positions Stevanato Group well to support this evolution. With this goal in mind, we are extremely happy that one of our pharmaceutical customers has received regulatory approval in several European countries for a liraglutide-based therapy that incorporates our proprietary Alina variable dose pen platform. The approval represents an important commercial milestone for our proprietary drug delivery systems and includes 2 Alina variants for both diabetes and weight management applications. This important customer project also embeds our world-class cartridge technology into the Alina pen platform, harnessing the power of our integrated capabilities. Our proprietary devices are manufactured in our facility in Germany, which plays a pivotal role in serving our global pharma and biotech partners. While Alina addresses the need for a variable dose pen platform, we also see a growing market opportunity for treatments that require strict patient adherence to dosing regimens. In response to customer feedback, we recently introduced Deora to meet this need. Deora is a novel multi-use fixed-dose pen injector system compatible with prefilled cartridges delivering volume up to 3 ml. This new product will take time to get to commercial stage, but we see this as a promising future opportunity. Our customer needs are clear, pointing at solutions that enhance patient usability and adherence, derisk supply chain, provide a better answer to new drug product requirements of modern formulation and lastly, increase the combination product sustainability and cost efficiency profile. We believe we have the right set of expertise and competencies to support our customers with a broad and unique value proposition. Let's turn our attention to the Engineering segment. We are pleased with the continued operational and financial progress in the business. Our second quarter results demonstrate that the initiatives taken under the optimization plan are yielding positive results. Overall, the operations have stabilized, and we are continuing to execute our optimization plan. As we mentioned last quarter, the teams are laser-focused on sales and marketing efforts to expand our opportunity set. We made good progress during the second quarter in winning new orders. We are cautiously optimistic, but sales cycles are longer today than in previous year. Let's turn to an update on our growth projects in the U.S. and Italy. In the second quarter, we remained focused on scaling and executing our growth investments with a disciplined approach, strengthening our operational maturity while expanding capacity to meet customer demand. Starting from Fishers, we recently completed the initial performance qualification on the first EZ-fill vial line, and we expect to launch customer validation in the near term. The build-out for our first device program remains on track, and we continue to expect commercial production to begin later this year. As these initiatives come together in Fishers, we are expanding our commercial capabilities and reinforcing our position for future growth. Turning to Latina, the syringe ramp-up is ongoing as we continue to validate new customers. In addition, our next-generation RTU 400 cartridge line is expected to be completed and installed in the next couple of months with commercial production expected in 2027. In summary, our second quarter results were in line with our expectations, reflecting the continued strength of our strategy. We are positioning the business around the most attractive areas of the market, particularly biologics, GLP-1 therapies and integrated drug delivery systems. The divestiture of Balda C. Brewer and our continued investment in platforms such as Alina and other premium products reinforces our focus on higher value differentiated solution that address the evolving needs of our pharmaceutical customers. At the same time, we are making progress in improving the Engineering segment and advancing our growth investments. I'll turn the call over to Marco for a review of our financial performance. Marco Dal Lago: Thanks, Franco. Before I begin, I'd like to clarify that all comparisons refer to the second quarter of 2025, unless otherwise specified. Let's start on Page 10. In the second quarter of 2026, revenue grew 8% to EUR 302 million, both on a reported basis and at a constant currency rate. This was driven by a 9% growth in the BDS segment, which offset a 2% revenue decline in the Engineering segment. Revenue from high-value solutions increased 16% in the second quarter to EUR 135.9 million and accounted for 45% of total revenue. In the second quarter of 2026, gross profit margin increased 60 basis points to 28.7%. This was driven by the combined improvement in Latina and Fishers, which led to an increase in high-value solutions and improved marginality in Engineering segment. This was partially offset by the expected increase in depreciation, higher utility costs and, to a lesser extent, currency headwinds. In the second quarter of 2026, we completed the sale of our California-based subsidiary, Balda C. Brewer, which specialize in contract manufacturing services for consumables and point-of-care diagnostic application. As a result, the company recorded onetime expenses of EUR 12.2 million in connection with the sale and related transaction costs in the second quarter of 2026. The subsidiary was expected to generate revenue of approximately EUR 30 million in fiscal year 2026 and the transaction is expected to be accretive on the full year margins. The sale of Balda C. Brewer and, to a lesser extent, higher start-up expenses unfavorably impacted the group's operating profit margin in the second quarter. But on an adjusted basis, operating profit margin increased 250 basis points to 18%. As expected, the tax rate in the second quarter of 2026 was higher compared with the same period last year. As a reminder, the prior year period benefited from a tax incentive, which lowered the Italian statutory corporate income tax rate in fiscal year 2025, but the incentive was not available in 2026. Additionally, there is no corresponding tax benefit on the sale of Balda C. Brewer, which contributed to the increase in the effective tax rate in the quarter. As a result of the onetime expenses related to the divestment and higher taxes, net profit totaled EUR 23 million and diluted earnings per share were EUR 0.08 in the second quarter 2026. On an adjusted basis, net profit increased 20% to EUR 37.6 million and adjusted diluted earnings per share increased to EUR 0.14. Adjusted EBITDA increased 21% to EUR 78.7 million and adjusted EBITDA margin increased 280 basis points to 26% in the second quarter of 2026. Moving to segment results on Page 11. In the second quarter of 2026, revenue from the BDS segment increased 9% to EUR 266.2 million and grew 10% on a constant currency basis. Strong growth in premium Nexa syringes and, to a lesser extent, Alba syringes and EZ-fill vials led to a 16% increase in revenue from high-value solutions to EUR 135.9 million, which represented approximately 51% of segment revenue. Revenue from other containment and delivery solutions increased 3% to EUR 130.3 million, mostly driven by growth in standard syringes and bulk cartridges as well as variable compensation tied to a customer contract. Gross profit increased by EUR 6.6 million in the second quarter of 2026, reflecting the combined improvement in the new plants as we continue to ramp up operations, which led to an increase in high-value solutions. These positive trends were partially offset by the expected higher depreciation, an increase in utilities costs and, to a lesser extent, currency headwinds. As a result, gross profit margin decreased by 10 basis points to 31.1%. The operating profit margin was impacted by the sale of Balda and declined 330 basis points to 15.8%. In the second quarter of 2026, revenue from the Engineering segment decreased 2% to EUR 35.8 million due to lower sales in pharma visual inspection and glass converting, which offset growth in the assembly lines and aftersales activities. In the second quarter of 2026, gross profit margin improved by 540 basis points to 12% and operating profit margin increased 370 basis points to 2.9%. Ongoing efforts under our business optimization plan led to a strong margin expansion as the segment continues to make steady operational and financial progress. Margins also benefited from improved operating results and the favorable mix in our Danish operations from newly secured projects in 2026, which is helping to refresh the project portfolio. While margins improved in the quarter and the team is making good progress in refreshing the backlog and the pipeline, we continue to remain somewhat cautious due to the elongated sales cycle and project phasing. Please turn to the next slide for a review of our balance sheet and cash flow. We ended the quarter with cash and cash equivalents of EUR 78.6 million and net debt of EUR 360.3 million. We believe we have adequate liquidity to fund our strategic priorities through a combination of cash on hand, available credit lines, cash generated from operations and the ability to access additional financing. For the second quarter of 2026, capital expenditures totaled EUR 52 million, mostly related to growth investment in the new plants and for our Alina device program in Germany and contract manufacturing activities. In the second quarter of 2026, net cash flow from operating activities totaled EUR 31.9 million. Cash used in property, plant and equipment and intangible assets was EUR 65.7 million. Consequently, the company reported negative free cash flow of EUR 32 million for the second quarter of 2026. Please turn to the next slide for an update of our full year guidance. The divestiture of our California-based subsidiary has been considered in our full year guidance with a reduction of revenue for fiscal 2026 of approximately EUR 15 million. This revenue reduction is partially offset by better-than-anticipated currency translation and higher organic growth in our core business. As a result, we now expect revenue in the range of EUR 1.260 billion to EUR 1.280 billion. The divestiture, while small, is expected to be accretive to margins at the central point of our guide, and we now expect adjusted EBITDA between EUR 335 million to EUR 345.2 million. We are also narrowing the range for adjusted diluted EPS, which is now expected to range between EUR 0.60 to EUR 0.62 for the fiscal year. Our full year 2026 guidance assumes the following. The BDS segment is expected to grow, on a reported basis, high single digits. Engineering is expected to decline by mid-single digits to low double digits. High-value solutions are expected to range between 47% to 48% of total company revenue. Free cash flow is expected to range from breakeven to positive EUR 20 million. We are updating the tax rate for 2026 and now expect a tax rate of approximately 28.2% adjusted for the divestment. The higher tax rate is expected to be offset by lower-than-anticipated depreciation and amortization and financial expenses. I will now hand the call back to Franco for closing remarks. Franco Stevanato: Overall, we are pleased with our performance in the first half of fiscal 2026, which was in line with our expectations. It further highlights the continued strength of our core business and our ability to capitalize on the market opportunities in biologics, which remains the most attractive and fastest-growing end market. This momentum reflects strong demand for premium containment and delivery solutions, serving complex injectable therapies, including biosimilars, monoclonal antibodies, GLP-1 therapies and other advanced treatments. With the rapid rise of patient adoption of drug delivery devices, pharmaceutical customers are increasingly seeking integrated partners that can combine device innovation, manufacturing expertise and supply chain reliability. Platforms such as Alina support this strategy by demonstrating Stevanato Group's ability to bring together drug containment and delivery device capabilities in a differentiated commercially relevant solution. We believe we are uniquely positioned to respond to this market opportunity. Overall, we are squarely focused on growing our premium high-value solutions in both drug containment and drug delivery systems to best position the company to capture the rising opportunities in injectable therapies, particularly biologics. Our goal is to move further up the value chain and deliver sustainable profitable growth, expanded margins and long-term shareholder value. Operator: [Operator Instructions] First question is from Michael Ryskin, Bank of America. Avantika Dhabaria: This is Avantika on for Mike. You updated your BDS growth outlook from double -- high single digit to low double digits to now high single digits. Can you walk us through what drove that change and whether it reflects only the divestiture or any other changes in the underlying business? Marco Dal Lago: Yes. Thanks for the question, Avantika. Marco speaking. The updated guidance on a reported basis, we have stated to high single digit. Nevertheless, the organic growth is still double digit because we reduced by approximately EUR 15 million related to the divestiture. And on the other side, we increased for approximately EUR 8 million related to the lower currency headwind. You probably remember, at the beginning of the year, we started the year with estimation of EUR 18 million of currency headwind on the top line, all related to BDS segment. After the first half of the year with approximately EUR 9 million currency headwind, we can see now the year -- the second part of the year more balanced. So we have a total currency headwind in the model of approximately EUR 10 million. So EUR 8 million favorable in currency, EUR 15 million headwind related to the divestiture and we increased a couple of million our organic growth in our core business. Avantika Dhabaria: Great. And then as your GLP-1 exposure continues to increase, are you seeing growth broadly across the non-GLP-1 biologics as well? Or is still GLP-1 the primary growth driver for HVS? Franco Stevanato: Yes. Thank you for the question. So we all know that the GLP-1s are a phenomenal drug class that we expect to continue to represent a strong long-term durable tailwinds in the next years. But where Stevanato Group is laser focused in this moment and in the next year to come is on biologics. Biologics is a phenomenal opportunity for Stevanato. Just to give you some number, in the industry, there are more than 9,000 injectable assets in the global drug pipeline and more than 60% are going to be with -- in biologics to injection administration. So the reason why we are heavily investing into our plants in Europe, United States, we are heavily investing in order to expand our proprietary devices in terms of drug delivery system, EZ-fill platform, in order to try to maximize our leadership position in the next year to come in biologics. In 2026, we have delivered 6% of growth in biologics. Most of the reason is because we have, in the early stage, more revenue that we are generating for clients that are in Phase II and Phase III. But we have started a big strategic goal is to be tied in this molecule that will represent tailwinds in the next year to come. Operator: Next question is from David Windley, Jefferies. David Windley: I wanted to follow up on that and your comments in the -- I think in the release, in your prepared remarks, about a move toward premium high-value solutions. So Franco, I was hoping, one, you could talk about which products in your portfolio you consider to be the premium products within high-value solutions. And then presuming Alina is one of those, how many countries and kind of what is the size of the opportunity with this recent approval of Alina for liraglutide? Franco Stevanato: Thank you, David. First of all, let me share that we are so excited and proud because it took Stevanato 8 years to develop and to launch in the market this Alina product. We started with our R&D department 8 years ago, even more. This is the reason why in 2016, we acquired the so-called Balda Germany, and today, it's going to become a sort of hub in order to produce this IP product for Stevanato. So the fact that now we were validated in Europe in many countries for this Alina product, both for diabetes and for weight loss management treatment, is going to recognize that Stevanato today plays in what we so-call Champions League because we are not serving any more the product through the CMO business model, but we are serving our IP product and the difference at Stevanato is that we don't sell only the drug delivery system, we are selling what we so-call integrated system approach where there are always our glass cartridges inside. Today, we are delivering our Alina pen, our cartridges to what's so-called a system integrator, a specialized partner that are going to take care of what is related to the devices, the cartridges and the filling and the regulatory support in order to help many big international biosimilar clients, both in Europe and United States to launch to the market this biosimilar. Today, Alina is having very strong traction for what is related to liraglutide, what is the treatment of the weight loss, but what I like to underline, we are at a very early stage because before this validation, there were a lot of prudent approach from many clients about the functionality of this device. Today, this official registration is opening and boosting the traction of other validation worldwide and where all this production we are going to produce through our plant in Germany. Like I already mentioned, last year -- we already started last year to renovate and upgrade one big area of production in order to start heavy industrial production for Alina in the next years. In parallel also, we started to develop and launch our Deora that is an evolution of our Alina product that is perfectly fitting for certain treatment where patients, they need a stronger accuracy of the doses, and this is the reason why this is the fact that we are already registered on Alina is further helping to boost the regulatory permit reduction. So I want to say, sorry to use my [ long-lasting ] approach, that this is going to be maybe one of our most big milestones in 2027 -- 2026. David Windley: So to follow up, I presume your enthusiasm suggests to me that Alina and -- I'll get the name, Aeora (sic) [ Deora ] are premium products. I'd love to hear what are the other ones that you consider premium within high value? And if you would, of the 47% to 48% of revenue that is high value, what percent of that is currently premium high value? Franco Stevanato: Alina is in the range of premium product. The revenue around Alina already captured in our guidance 2026, and most probably, in the next year to come, Alina will generate double-digit revenue growth in the Alina product. Where we are also facing a strong traction, strong success in the market is what we call our Alba syringes because we launched these syringes many years ago for certain ophthalmic application, today, we see more and more strong traction from customers that are going to adopt the monoclonal antibody. Also here, we are heavily investing in capacity, David, here at the plant in Piombino Dese and the next phase we're going also to move industrial capacity into the plant in Fishers in order to serve the biologic market directly from Fishers. Operator: Next question is from Paul Knight, KeyBanc Capital Markets. Paul Knight: Congratulations, Franco. The long-term potential, I think, is obviously obvious with Latina and Fishers. What capacity utilization will Fishers and Latina operate this year? Franco Stevanato: So today, the demand that we have in Fishers and Latina is quite -- in 2026 in particular for syringes, in Nexa, Alba and cartridges, bulk cartridges, ready-to-fill is quite strong and robust for both plants. The way that we plan our investments are dedicated with capacity program that we have with customers. All the number of lines that we have installed and validated in Latina, we continue to install and do the validation throughout 2026 in Fishers with a direct program where the clients do the audit, do the validation and then we have dedicated line. Our approach is always to maintain certain free capacity in order to enhance our plants to have the flexibility also to do the sampling and the validation for the future program that we're going to start to host in the next year to come. So overall, the message is demand is robust and strong, but also it's important to keep some space in order to perform the validation. Marco Dal Lago: And as a reminder, Paul, Marco speaking, we plan to fully ramp up Fishers by the end of 2028. So we still have ways to go there and improving our production and financial performance throughout our next quarters. Paul Knight: And then could you, Franco, give us an update on -- you were creating centers of excellence within engineering? Or where are you in that program? Franco Stevanato: Sure. Today, we -- regarding the engineering, we have 2 centers. One is in Italy, specialized in visual inspection machine for customized line for certain assembly technology and Denmark is going to be specializing in particular for the sophisticated high-speed line for assembly. So the optimization plan initiative that we started more than 1 year ago, they are delivering positive results that, in fact, you see, Paul, are translated also in our revenue and our margin, I think, that are much better in this quarter, and this is starting to be a signal of trending for the future quarter. So from an engineering point of view, the organization and the team are really moving in the right direction. Also what we are starting to see is positive signal because we are more and more having a good progress in winning new orders, both with our historical clients and also we are starting to build a rich pipeline for new clients, in particular for vision inspection. So our goal is really to have, quarter-by-quarter, some improvement in terms of revenue and marginality in order to be back to original number more and more in 2027. But also here, the division has started really to deliver a good signal in terms of revenue and marginality. Operator: Next question is from Larry Solow, CJS Securities. Lawrence Solow: Just a couple of questions. Can you give us just a little flavor maybe just on -- you said -- you mentioned GLP is 22%, 23% of revenue. Can you just speak GLPs versus non-GLPs in the high-value products or biologics growth, give us an idea of what that was? It sounds like GLPs grew faster than overall growth. So can you give us any idea of that? Franco Stevanato: So today, frankly speaking, the revenue inside of the BDS segment around biologics represents approximately 42%. So we moved, where in 2022, we were approximately a little bit less than 20%, today, we are more than 42%. In this moment, GLP-1s are representing a very visible revenue contribution side of biologics because it's already commercial. We are serving 2 big originators and we are actively moving in order to maximize our validation through all the biosimilars, both to our syringes, Nexa, cartridges, [indiscernible] we have many programs around our drug delivery system. It's also true that we are so engaged with several hundred of clients, both big organization to small start-up, in order to really try to maximize our penetration in all the biologics space. So today, in the biologics space, we have delivered plus 6%, like I was mentioning before, because most of these programs are at early stage. They are not representing a big revenue generation. If I can give you a sort of projection, GLP-1 is a well-established opportunistic tailwind that will continue to grow in the next years. And biologic, it will be much more spread to many clients and many therapeutic areas. And then if you go to combine all these, opportunity is going to be much bigger in the next year to come compared to GLP-1. Lawrence Solow: Okay. Great. And then a follow-up just on the Alina, if I could just ask a clarification. So it sounds like this approval culminates several years of work and its validation, it feels like you're not building in a lot of revenue specifically to this approval this year, but this validation opens the door for a lot -- for several other approvals. And I imagine this is multiyear stuff, so you must have other customers in the queue. Is that fair to say? Franco Stevanato: Yes, absolutely. In terms of investments, in terms of revenue, revenue around the Alina are already captured in 2026 in our guidance. What we can tell to you is that we are heavily investing with industrial commercial capacity in our plants in Germany in the next 12 to 24, 36 months in order to be able to serve this growing demand. So like I mentioned to you before, we count that Alina, it will help to generate double-digit revenue around Alina products in next year to come, focalizing what we call our premium high-value solution product. Today, we have done the first registration with a certain number of clients first in Europe. In the second part of the year, we will receive additional validation in North America. But what is more important, the fact that now we have this registration on the market is helping to boost and push other traction from other clients, in particular, in biosimilar space for what is related to the weight loss management treatment. So this is the real strategy. Our industry usually is a little bit prudent and conservative. Since there is no real product in the market, some clients, they are waiting. Now that this product is opening a big, big opportunity next year around our IP product. Operator: Next question is from Brendan Digan, Citi. Brendan Digan: I was wondering if we could start off by unpacking the engineering performance in 2Q. I saw a nice rebound up from 1Q and kind of towards the lower range of the commentary provided on the 1Q call. So I was wondering if you could unpack that a little bit, but then also kind of go into how kind of customer decision time lines have evolved throughout the quarter and what kind of the backlog looks like as we head into the second half of the year. Franco Stevanato: If I understood the question -- sorry, because there was a lot of noise in the microphone, you asked how is the situation of the backlog compared to the first part of the year to the second part of the year? Brendan Digan: Yes. So just if you can unpack the engineering performance in 2Q. Franco Stevanato: Today, we have a healthy pipeline that is going to be, step-by-step, translated in orders. So if you combine from the beginning of the year to the second part of the year, we are starting really to more and more move this pipeline into orders, but we have a very strong progress in winning new orders, in particular for what is related to visual inspection machine, in particular in Europe, in Asia, and technology for assembly for drug delivery system in Europe and United States. So we see, quarter after quarter, a progression in order to enlarge the confirmed orders compared to what was the order intake. So the trend is starting to become better and better quarter after quarter. Brendan Digan: Got it. And then I wonder if you could touch on the gross and operating margin assumptions for the full year. I believe, given the divestiture, I was wondering if you could just touch on those. I believe the last guide had around 0 to 30 bps for gross margin and around 50 bps for operating. So how does that change with the divestiture? Congrats on the quarter. Marco Dal Lago: Yes. Thanks for the question. About our guidance, I'm saying, at the center point of our guidance, our plan is to expand the reported gross profit by 50 basis points approximately. If we exclude the onetime event in second quarter, our plan is to increase our adjusted operating profit of 110 basis points compared with last year. And as mentioned in our press release, adjusted EBITDA margin at the center point of the guidance is expected to be at 26.8%, expanding 170 basis points compared with last year. This is driven by slightly improved margin in our BDS segment, improved gross profit margin in our Engineering segment and discipline in cost management in SG&A and R&D expenses. Operator: Next question is from Mac Etoch, Stephens Inc. Steven Etoch: Maybe just a follow-up on the previous answer. I think you touched on it a little bit. But the variable compensation that you highlighted within the presentation deck, how much was that? And how much of a benefit was that to 2Q margins? Marco Dal Lago: Thanks for the question, Marco speaking. So the variable compensation is tied to one specific contract with a long-lasting customer. It provides a fair compensation for a reduction in volumes compared with the committed volumes from the customer. And as a reminder, under the contract clause and condition, we have protection in place for changes in forecast. So variable consideration compensate us for the cost we had in the quarter in the first half of the year in terms of capacity reservation, workers, labor, depreciation plus fair compensation of the missing margin. Steven Etoch: Maybe just to bear down a little bit more on that. Is it possible to quantify how much of a benefit it was to the quarter? Marco Dal Lago: No, it's not impacting in a significant way the quarter. It's a fair compensation of the missing margin and cost that we had. Operator: Next question is from Kallum Titchmarsh, Morgan Stanley. Jason Lai: This is Jason on for Kallum. So maybe just a question on the Balda Brewer divestiture. Could you just walk us through the strategic rationale for divesting the business and the business profile? What was the growth profile of that business? And what was the HVS, non-HVS mix for that business? And I appreciate the comments that the spin-off was margin accretive, but I was wondering if you could quantify that margin uplift. Franco Stevanato: Thank you. So when, in 2016, we decided to enter in the device space, we asked for 2 decisions. First to acquire Balda, where the big target was the industrial hub in Germany. And when we acquired this company, we discovered there was a smaller operation in California in south of Los Angeles, so we call Balda C. Brewer, specialized more in contract manufacturing of standard consumable products. So when we are starting to develop our R&D center in Milano, more and more our attention focus was to move to standard diagnostic in order to better serve molecular diagnostic. Now the real goal is really to build a value proposition for our biologic clients in injection in order to deliver not only the glass [ package ], also together with the drug delivery systems. Now we are in 2026 where most of our investments are in order really to build capacity for drug delivery systems. This plant is not any more strategic for Stevanato because it don't have any particular strategy to serve this biologic market. So we have decided to pass to this program of divestiture in order really to remove some industrial setup not strategic for our biologic clients. Marco Dal Lago: And about the model, we had previously, in our model, approximately EUR 30 million revenue for the year and slightly positive EBITDA. So that's why we are -- let's say, our margin is more accretive with divestiture. Franco Stevanato: This initiative really represent another step in order really to move the value chain and the product portfolio of Stevanato's industrial setup more versus some accretive high-value solution product to better serve the biologic market. This is one another step like what we have already done last year, we started to slow down a little bit our attention in Europe for the standard [indiscernible]. Jason Lai: Great. I guess maybe just a question on like kind of generic GLPs. We've seen patents for semaglutide expire in 2026 in Canada, India, Brazil and some early generic GLP launches. I'm wondering, will generic GLPs largely use high-value solutions as the current branded GLP-1 drugs? And could you just talk about the opportunity from the generics? Franco Stevanato: So today, we serve the GLP-1 market to our originator to our biosimilar, we serve the syringe Nexa, we serve the cartridges, but mostly cartridges ready-to-fill. Also, we are starting to maximize with all the biosimilars that are entering the market. Today, we see that all the biosimilars, they are practically using the same type of administration of injection. Stevanato is acting to serve to these biosimilars that still are at early phases through syringes Nexa, cartridges ready-to-fill, even more, we have started really to deliver what we call the fully integrated system where we're going to add also our proprietary device like Alina. So this is valid for practically all the regions. Like I was mentioning before, we have started to serve some European market. Now the next phase to be North America, Latin America, exactly for this type of configuration where there will be either our syringes or there will be our cartridges plus the Alina product. Operator: Next question is from Chad Wiatrowski, TD Cowen. Chad Wiatrowski: Beyond the Balda divestment, are there other segments or SKUs that you view as noncore and could potentially be under strategic review currently? Franco Stevanato: At the moment, we don't have a relevant initiative under the radar. It's also true that if you look at from the day of the IPO to today, we invested more than EUR 1.3 billion, mostly around high-value products. It's also true that if you look at the strategy of our organization starting from sales, R&D, product management and operation and supply chain, the goal is to build a leadership position in biologics. So indirectly, step-by-step, a little bit less attention in what we call non-high-value products or certain bulk activity, make the example, and of course, that we sell from Europe, from Brazil, some other standard plastic component for diagnostics where, step-by-step, we would like really to reconvert to use this space in order to better serve our EZ-fill platform, our drug delivery solution. For sure, this is something that we do step-by-step gradually because we want really to evolve our value proposition in the next 1, 2, 3, 4 years, but today, no other relevant initiative. Chad Wiatrowski: Got it. That's helpful. And then yes, it was encouraging to see the Alina approvals. Is there an incentive for pharma customers to order from providers who offer both the glass combined with the proprietary device? And are these approvals symbolic of maybe a broader shift over time where companies who offer more integrated solutions are positioned stronger in a market that's historically been pretty fragmented? Franco Stevanato: Today, overall, there is a trend of the pharma industry to outsource, as much as they can, the supply chain. It can be -- they can use specialized CMO, they can use a company like Stevanato that we sell the integrated offering. So basically, today, there is more and more a visible trend where pharma customers, they try to outsource a big portion of supply chain. The advantage of this system integrated provider, yes, very proactive but they don't perform only the filling, helping this biosimilar -- international biosimilar company really to take all the type of activity in order really to collect the devices, the cartridges, to the filling, regulatory support in order to enhance these biosimilars to focalize in the go-to-market. More and more, we see this trend in the industry today. And Stevanato proactively what we do, we use our tech center. We use our specialized hub in Italy and United States in order to try to capture as much as we can big pieces of this supply chain and increase our value proposition. Operator: Next question is from Curtis Moiles, BNP Paribas. Curtis Moiles: So first, just on GLP-1s. I mean, obviously, that stepped up again as a percentage of revenue compared to 1Q '26. So maybe you can talk about how you're seeing that progress through the year and whether your sort of mid-teens growth guidance remains intact there? Marco Dal Lago: Okay. Starting from the guidance, we can see a double-digit growth compared to last year. So still a significant growth. About the overall market situation, I will hand over to Franco to elaborate more. Franco Stevanato: Correct. Today, in the industry, what we see that GLP-1 is really -- we are really at what we call at the beginning of this journey because we are -- if you look at all the potential opportunity that we have to our originator clients, even more with the biosimilars that are very active in any region of the world, I think that we are really at the tip of the iceberg. So today, there are less than 10% of patient penetration in total potential addressable patient that is 1.5 billion. So we expect that this will continue to represent a strong long-term durable tailwinds for all the industry, including Stevanato. The strategy of Stevanato is really to maximize our penetration through the originator like we have done in the past with insulin and in parallel, try to maximize our validation in all the biosimilar not only to our EZ-fill platform, also with our drug delivery system because I think the next 5 to 10 years, there will be a lot of opportunity to stay in double digit only to GLP-1 in next year. What is important again to underline for the second time that the GLP-1, we want to have a very strong opportunistic approach, but it is limited to one therapeutic class. The real goal of Stevanato and the reason why we have done the IPO in 2021 in order to finance and build this huge hub in the United States and increase the capacity in Europe is because all the biologic market is growing, spread to several tens of hundreds of clients and several therapeutic areas. It is where we want really to play a visible role with all our integrated value proposition starting from EZ-fill product, syringes, cartridges and vials and move up the value chain to our drug delivery system to certain clients. Through our tech center, we've started to perform also fill-and-finish for non-human user. This is where we really want to focalize SG in the next 5 to 8 years. Curtis Moiles: Okay. And then moving to the BDS gross margin. I'm just wondering, is this sort of Q2 level a good jumping off point for the remainder of the year? And should we see it ramp a little bit from here? Or could it maybe come off a bit? Marco Dal Lago: Yes, we expect for BDS to match or overtake the gross profit margin we had in 2025. So we expect in Q3 and Q4 further margin expansion in our BDS segment driven by the growth in Fishers and Latina and driven by the fact that we expect a stronger second half of the year, so a better leverage on our fixed expenses, again mainly driven by Fishers and Latina. Operator: Next question is from Matt Larew, William Blair. Matthew Larew: Obviously, a lot has been covered. Just one for me. I know you had a press release a few days ago on the Alina approvals. You mentioned it a couple of times today. I know that these were already approved. So I'm curious if these are new or different configurations and thus perhaps new share opportunities for Stevanato. And again, you've covered it a little bit, but just what these approvals mean for you in terms of long-term aspirations in the device space? Franco Stevanato: So practically, Matt, with this approval in Europe, there will be additional approval in the second part in the United States. We are going to start to deliver to certain number of clients. We have a big number of clients. We are going to start to deliver our Alina pen for this liraglutide product together with our cartridges. So translating in number, we are starting to generate revenue through selling Alina in 2026, even more there will be a progression because these clients are launching the product on the market. The configuration to be Alina product in different format and with our cartridges. Operator: Ms. Miles, gentlemen, there are no more questions registered at this time. Lisa Miles: Thank you very much, everyone, for joining us for Stevanato Group's Second Quarter 2026 Earnings Call. We look forward to speaking with you in the future, and enjoy the rest of your summer. Operator: Ladies and gentlemen, thank you for joining. The conference is now over. You may disconnect your telephones. 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Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Revenue growth of 8% was driven by a 9% increase in the Biopharmaceutical and Diagnostic Solutions (BDS) segment, offsetting a slight decline in Engineering. High-value solutions (HVS) grew 16% year-over-year, now representing 45% of total revenue, fueled by a 30% surge in biologics demand. Management completed the divestiture of Balda C. Brewer to optimize the corporate footprint and focus resources on complex, integrated drug delivery systems. The proprietary Alina variable dose pen platform achieved a major commercial milestone with regulatory approval in several European countries for liraglutide-based therapies. The Engineering segment showed operational stabilization with gross margins expanding 540 basis points due to business optimization initiatives and a refreshed project portfolio. GLP-1 therapies currently represent approximately 22% to 23% of total company revenue, serving as a durable long-term tailwind for the injectable market. Strategic focus remains on the global drug pipeline where over 60% of the 9,000 injectable assets under evaluation are biologics. Full-year 2026 revenue guidance was adjusted to EUR 1.260 billion to EUR 1.280 billion, accounting for a EUR 15 million headwind from the Balda divestiture. The Fishers facility is on track for commercial production later this year, with a planned full ramp-up of operations expected by the end of 2028. Management expects the Alina platform to generate double-digit revenue growth in coming years as North American regulatory approvals are anticipated in late 2026. The next-generation RTU 400 cartridge line in Latina is slated for installation in the next few months, with commercial production targeted for 2027. Guidance assumes high-value solutions will reach 47% to 48% of total revenue for the fiscal year, driven by continued biologics and GLP-1 momentum. Recorded a one-time expense of EUR 12.2 million related to the sale of the Balda C. Brewer subsidiary in California. The effective tax rate for 2026 is expected to be higher at 28.2% due to the expiration of prior Italian tax incentives and the impact of the divestiture. Variable compensation tied to a specific customer contract provided protection against volume reductions, compensating for capacity reservation and missing margins. Currency headwinds for the full year are now estimated at EUR 10 million, a favorable revision from the initial EUR 18 million projection. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management clarified that while reported growth was adjusted to high single digits, organic growth remains in the double digits. The adjustment reflects a EUR 15 million headwind from the divestiture partially offset by EUR 8 million in favorable currency translation. The approval validates eight years of R&D and shifts the company from a CMO model to a proprietary IP provider in the 'Champions League' of drug delivery. The platform uses an 'integrated system approach' combining Stevanato's proprietary glass cartridges with the delivery device. Optimization efforts are yielding results, but management remains cautious as sales cycles are currently longer than in previous years. New order wins are increasing, particularly for visual inspection machines in Europe and Asia, supporting a return to historical margins by 2027. Management views the current GLP-1 market as the 'tip of the iceberg' with less than 10% patient penetration of the 1.5 billion addressable population. The company is actively pursuing validation for biosimilar versions of GLP-1s to capture market share as original patents expire.

- The Company Divests its California-Based Subsidiary, Balda C. Brewer, Inc - PIOMBINO DESE, Italy, August 04, 2026--(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 second quarter of 2026. Second Quarter of 2026 Highlights (comparisons to prior-year period) Revenue increased 8% to €302.0 million, with high-value solutions representing 45% of total revenue. Gross profit margin increased 60 basis points to 28.7%. Adjusted EBITDA margin increased 280 basis points to 26.0%. The Company completed the divestiture of its California-based subsidiary, Balda C. Brewer, Inc., and recorded expenses of €12.2 million related to the sale and transaction costs. Diluted earnings per share were €0.08 and include the expenses related to the sale of the subsidiary. Adjusted diluted earnings per share were €0.14. The Company is updating its fiscal 2026 guidance to reflect the sale of Balda C. Brewer, Inc., better than anticipated currency translation, and higher organic growth. The Company now expects revenue in the range of €1.260 billion to €1.280 billion and adjusted EBITDA in the range of €335.0 million to €345.2 million. The Company is also narrowing its adjusted diluted EPS guidance and now expects this to be in the range of €0.60 to €0.62. Second Quarter 2026 Results For the second quarter of 2026, total revenue increased 8% year-over-year to €302.0 million, driven by a 9% revenue increase from the Company's Biopharmaceutical and Diagnostic Solutions (BDS) Segment, which offset a 2% revenue decline from the Engineering Segment. Revenue from high-value solutions increased 16%, year-over-year, to €135.9 million, and represented 45% of total revenue for the second quarter of 2026. In the second quarter of 2026, gross profit margin increased 60 basis points to 28.7% driven by the ongoing, combined improvements in Fishers and Latina, which led to an increase in high-value solutions, and improved gross profit in the Engineering Segment. This was partially offset by the expected increase in depreciation, an increase in utility costs, and to a lesser extent currency headwinds. On June 30, 2026, the Company completed the sale of its California-based subsidiary, Balda C. Brewer, Inc., which specializes in contract manufacturing services for consumables and point-of-care diagnostic applications. As a result, the Company recorded one-time expenses of €12.2 million in connection with the sale and related transaction costs in the second quarter of 2026. Balda C. Brewer, Inc. was expected to generate revenue in the range of €30 million in fiscal year 2026 and the transaction is expected to be accretive to full year margins. The sale of Balda C. Brewer unfavorably impacted the Group's operating profit margin and net profit margin in the second quarter. As a result, operating profit margin decreased by 190 basis points to 12.9%, but on an adjusted basis, operating profit margin increased 250 basis points to 18.0%. Net profit was €23.0 million, with diluted earnings per share of €0.08. For the second quarter of 2026, adjusted net profit increased 20% to €37.6 million and adjusted diluted earnings per share increased to €0.14, compared with €0.11 for the same period last year. For the second quarter of 2026, adjusted EBITDA increased 21% to €78.7 million, and adjusted EBITDA margin improved 280 basis points to 26.0%, compared with the same period last year. Franco Stevanato, Chairman and Chief Executive Officer, commented, "Results were in line with our expectations with 8% topline growth driven by 10% growth at constant currency rates in our BDS Segment. We recently achieved a significant commercial milestone for our Drug Delivery Systems (DDS) business and our proprietary DDS products. A customer recently received regulatory approval in several European countries for a liraglutide-based therapy that incorporates Stevanato Group’s Alina® pen injector platform. This important customer project also embeds our world-class cartridge technology into the Alina® pen platform, harnessing the power of our integrated capabilities." Biopharmaceutical and Diagnostic Solutions (BDS) Segment Revenue grew 9% to €266.2 million, and increased 10% at constant currency rates, for the second quarter of 2026, compared with the same period last year. In the second quarter of 2026, revenue from high-value solutions increased 16% to €135.9 million, and represented 51% of BDS Segment revenue, driven predominantly by high-performance syringes and, to a lesser extent, EZ-fill® vials. Revenue from other containment and delivery solutions rose 3% to €130.3 million, compared with the same period last year, driven by growth in bulk syringes and cartridges, and variable compensation tied to a customer contract. For the second quarter of 2026, gross profit increased €6.6 million driven by the combined improvements in Fishers and Latina as we continue to ramp up operations which led to growth in high-value solutions. These positive trends were offset by the expected higher depreciation, an increase in utility costs, and, to a lesser extent, currency headwinds. As a result, gross profit margin decreased 10 basis points to 31.1%. Engineering Segment Revenue from the Engineering Segment decreased 2% to €35.8 million for the second quarter of 2026, compared with the same period last year, driven by lower revenue from glass converting and pharma visual inspection, which offset growth in assembly and after sales services. For the second quarter of 2026, gross profit margin for the Engineering Segment increased 540 basis points to 12.0%, compared with the same period last year, as the Company realizes the benefits from the actions taken under its business optimization plan. Margin performance also benefited from improved operating results in the Company's Danish operations from newly secured projects in 2026, which is helping to refresh the project portfolio and led to a more favorable mix. While actions under the optimization plan are starting to gain traction, the Company remains cautious due to elongated sales cycles and project phasing. Balance Sheet and Cash Flow As of June 30, 2026, the Company had cash and cash equivalents of €78.6 million, and net debt of €360.3 million. For the second quarter of 2026, capital expenditures totaled €52.0 million, primarily related to the new plants in Italy and Indiana, as well as for the Alina® pen injector program in Germany and contract manufacturing activities. For the three-months ended June 30, 2026, net cash flow from operating activities was €31.9 million and cash used for the purchase of property, plant, and equipment, and intangible assets totaled €65.7 million. Consequently, the Company reported negative free cash flow of €32.0 million for the second quarter of 2026. 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 updating its full-year 2026 guidance to reflect the sale of Balda C. Brewer, Inc., better currency translation, and higher growth in the core business. The Company now expects revenue to range between €1.260 billion to €1.280 billion, compared with the prior guidance range of €1.260 billion to €1.290 billion. The Company is updating its guidance for adjusted EBITDA in the range of €335.0 million to €345.2 million, and narrowing its guidance for adjusted diluted EPS which is now expected to range between €0.60 to €0.62. Franco Stevanato, concluded, "We are squarely focused on growing our premium, high value solutions in both drug containment and drug delivery systems to best position the Company to capture the rising opportunities in injectable therapies, particularly biologics. With the rapid rise in patient adoption of drug delivery devices, customers are increasingly seeking integrated partners that can combine device innovation, manufacturing expertise, and supply chain reliability. We believe we are uniquely positioned to bring together drug containment and delivery device capabilities in a differentiated, commercially relevant solution. Our goal is to continue to move up further up the value chain and deliver sustainable, profitable growth, expanded margins, and long-term shareholder value." Conference call: The Company will host a conference call and webcast at 8:30 a.m. (ET) on Tuesday, August 4, 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 Q2 2026 earnings webcast. Webcast: A live, listen-only webcast of the call will be available at the following link: STVN Q2 2026 webcast. Dial in: Those who are unable to pre-register may dial in by calling: Questions during the call: Participants who wish to ask questions during the call should use the HD webphone link: STVN Q2 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," 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 the 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, 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. 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20260804390822/en/ Contacts Media Caterina [email protected] Investor Relations Lisa [email protected] Giacomo [email protected]

Stevanato Group (STVN) came out with quarterly earnings of $0.16 per share, beating the Zacks Consensus Estimate of $0.15 per share. This compares to earnings of $0.12 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +6.67%. A quarter ago, it was expected that this maker of glass vials for COVID-19 vaccines would post earnings of $0.12 per share when it actually produced earnings of $0.13, delivering a surprise of +8.33%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Stevanato, which belongs to the Zacks Medical - Drugs industry, posted revenues of $351.09 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 0.08%. This compares to year-ago revenues of $317.7 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Stevanato shares have added about 2.3% since the beginning of the year versus the S&P 500's gain of 11%. While Stevanato has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Stevanato was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.18 on $381.86 million in revenues for the coming quarter and $0.71 on $1.5 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Drugs is currently in the bottom 41% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Theravance Biopharma (TBPH), has yet to report results for the quarter ended June 2026. This biopharmaceutical company is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents a year-over-year change of +337.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Theravance Biopharma's revenues are expected to be $19.79 million, down 24.4% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Stevanato Group S.p.A. (STVN) : Free Stock Analysis Report Theravance Biopharma, Inc. (TBPH) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

This article first appeared on GuruFocus. Release Date: August 04, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Revenue grew 8% year-over-year, driven by a 9% increase in the biopharmaceutical and diagnostic solutions segment. High-value solutions revenue increased 16%, representing 45% of total revenue, with biologics revenue up 30%. Adjusted EBITDA margin expanded 280 basis points to 26%, reflecting improved operational efficiency. The divestiture of the California-based subsidiary is expected to be accretive to full-year margins. Regulatory approval for the Alina pen platform in Europe marks a significant commercial milestone for proprietary drug delivery systems. Engineering segment revenue declined 2% due to lower sales in pharma visual inspection and glass converting. Gross profit margin in the BDS segment decreased 10 basis points due to expected depreciation, higher utility costs, and currency headwinds. One-time expenses of $12.2 million related to the divestiture negatively impacted operating profit. Higher effective tax rate in Q2 2026, due to the absence of prior-year tax incentives and no tax benefit on the divestiture, reduced net profit. Negative cash flow of $32 million in Q2 2026, driven by significant capital expenditures for growth projects. Warning! GuruFocus has detected 5 Warning Signs with STVN. Is STVN fairly valued? Test your thesis with our free DCF calculator. Q: Can you walk us through what drove the change in the BDS growth outlook from double-digit to high single-digit, and whether it reflects only the divestiture or other changes in the underlying business? A: Marco Delago (CFO) explained that the updated guidance on a reported basis is high single-digit, but organic growth remains double-digit. The change is driven by a reduction of approximately $15 million related to the divestiture of Balda, partially offset by an $8 million favorable currency translation adjustment. The company also increased organic growth expectations by a couple of million dollars in its core business. Q: As your GLP-1 exposure continues to increase, are you seeing growth broaden across non-GLP-1 biologics, or is GLP-1 still the primary growth driver for high-value solutions? A: Franco Stevanato (Chairman and CEO) stated that while GLP-1s are a phenomenal class expected to remain a strong long-term driver, the company is laser-focused on biologics. With more than 9,000 injectable assets in the global pipeline and over 60% being biologics, the company is heavily investing in plants in Europe and the US to expand proprietary devices. In 2026, biologics delivered 6% growth, with most revenue coming from early-stage clients (Phase 2 and 3), but the strategic goal is to be ready for the molecules that will provide tailwinds in the coming years. Q: Could you talk about which products in your portfolio you consider to be premium within high-value solutions, and how many countries and what is the size of the opportunity with the recent Alina approval for liraglutide? A: Franco Stevanato (Chairman and CEO) expressed excitement about the Alina approval, noting it took 8 years to develop. The approval in several European countries for both diabetes and weight management validates the company's IP product, positioning it in the "Champions League." The company is delivering Alina pens and cartridges to system integrators for biosimilar clients in Europe and the US. The approval is opening and boosting traction for other validations worldwide, with production in Germany. The company also introduced Aura, an evolution of Alina for treatments requiring stricter dose adherence. Alina is expected to generate double-digit revenue growth in the coming years. Q: What capacity utilization will Fishers and Latina operate at this year? A: Franco Stevanato (Chairman and CEO) noted that demand in Fishers and Latina is quite strong for 2026, particularly for syringes, Nexa, Alba cartridges, and bulk cartridges. The company plans investments with dedicated capacity and programs with customers, maintaining some free capacity for flexibility and validation of future programs. Marco Delago (CFO) added that the company plans to fully ramp up Fishers by the end of 2028, with continued improvement in production and financial performance over the next quarters. Q: Can you give us an update on creating centers of excellence within engineering? A: Franco Stevanato (Chairman and CEO) explained that the engineering segment has two centers: one in Italy specializing in visual inspection machines and customized lines, and one in Denmark specializing in sophisticated high-speed assembly lines. The optimization plan initiatives are delivering positive results, reflected in better revenue and margins. The team is making good progress in winning new orders with historical clients and building a pipeline for new clients, particularly in the visual inspection spectrum. The goal is to achieve quarter-by-quarter improvements in revenue and margins to return to original numbers by 2027. Q: Can you give us an idea of GLP versus non-GLP growth in high-value products or biologics? A: Franco Stevanato (Chairman and CEO) stated that biologics represent approximately 42% of BDS segment revenue, up from less than 20% in 2022. GLP-1s are a visible revenue contribution within biologics as they are already commercial, serving two big originators. The company is actively maximizing validation through biosimilars using syringes, Nexa cartridges, and drug delivery systems. While GLP-1 is a well-established tailwind, the broader biologic market, spread across many clients and therapeutic areas, will be much bigger in the coming years. Q: It sounds like the Alina approval culminates several years of work, but you're not building in a lot of revenue this year. Does this validation open the door for several other approvals, and do you have other customers in the queue? A: Franco Stevanato (Chairman and CEO) confirmed that investments and revenue around Alina are already captured in the 2026 guidance. The company is heavily investing in industrial and commercial capacity in Germany over the next 12-36 months, expecting double-digit revenue growth for Alina. The first registration in Europe will be followed by additional validations in North America in the second half of the year. This registration is boosting traction from other clients, particularly in the biosimilar space for weight loss management, opening a big opportunity for the company's IP product. Q: Could you unpack the engineering performance in Q2 and how customer decision timelines evolved throughout the quarter, and what the backlog looks like heading into the second half? A: Franco Stevanato (Chairman and CEO) noted a healthy pipeline that is gradually translating into orders. The company has made strong progress in winning new orders, particularly for visual inspection machines in Europe and Asia, and assembly technology for drug delivery systems in Europe and the US. The order intake is progressing quarter after quarter, with the trend becoming better. The company remains cautious due to elongated sales cycles and project phasing. Q: Could you touch on the gross and operating margin assumptions for the full year, and how they change with the divestiture? A: Marco Delago (CFO) stated that at the center point of guidance, the company plans to expand reported gross profit by approximately 50 basis points, excluding one-time items. Adjusted operating profit is expected to increase by 110 basis points compared with last year. Adjusted EBITDA at the center point is expected to be 26.8%, expanding 170 basis points, driven by slightly improved margins in the BDS segment, improved gross profit margin in engineering, and disciplined cost management in SG&A and R&D expenses. Q: Could you walk us through the strategic rationale for divesting the Balda business, its growth profile, and quantify the margin uplift? A: Franco Stevanato (Chairman and CEO) explained For the complete transcript of the earnings call, please refer to the full earnings call transcript.

PIOMBINO DESE, Italy, July 21, 2026--(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, announced today that it will issue financial results for the second quarter of 2026 on Tuesday, August 4, 2026, at 6:30 a.m. (EDT). Conference call and webcast: The Company will host a conference call and webcast at 8:30 a.m. (EDT) on Tuesday, August 4, 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 Company's Investor Relations section of its 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: STVN conference call pre-registration. Webcast: A live, listen-only webcast of the call will be available at the following link: STVN webcast. Dial in: Those who are unable to pre-register may dial in by calling: Questions during the call: Participants who wish to ask questions during the call should use the HD webphone link: https://hditalia.choruscall.com/?$Y2FsbHR5cGU9MiZpbmZvPWNvbXBhbnk= Replay: The webcast will be archived for three months on the Company’s Investor Relations section of its website. 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20260721394233/en/ Contacts Investor Relations Lisa Miles: [email protected] Giacomo Guiducci: [email protected] Media Caterina Tripepi: [email protected] Stefania Bassi: [email protected] (Italy)Marco Lastrico: [email protected] (U.S.)