Vaccine vial maker Stevanato ticks up 2021 guidance after Q3 results

Written by on November 9, 2021

November 9, 2021

MILAN (Reuters) – Italian vaccine vial maker Stevanato on Tuesday slightly improved its guidance on full-year results after reporting a 37% increase in third quarter revenue.

The family-controlled group, which listed on the New York Stock Exchange in July, said it now expects full-year sales to be between 825-835 million euros ($953-$965 million), up from the 820-830 million euro range it forecast in August.

The company also raised the lower end of its expectations for both core profits and adjusted diluted earnings per share(EPS), indicating it now sees adjusted EBITDA to reach at least 214 million euros and adjusted diluted EPS to be at least 0.45 euros, up from 212 million euros and 0.43 euros respectively.

In the third quarter, revenue reached 214.5 million euros, with around 16% of the total attributable to business linked to COVID-19.

Stevanato added it awarded a discretionary bonus of 6.7 million euros to all its staff to recognise their efforts over the past 18 months.

($1 = 0.8655 euros)

(Reporting by Francesca Landini, editing by Giulia Segreti)

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