November, 26 2015
The Group, leader in manufacturing cartridges for insulin and glass primary packaging for the pharmaceutical industry as well as in the production of complete forming and converting machines for glass products, continues its double digit growth.
Stevanato Group registered consolidated revenue for 237,4 million Euro at the end of the third quarter 2015, with a 17,4% increase from the same period of 2014, with relevant increases in both divisions: Pharmaceutical Systems and Engineering Systems.
EBITDA of the Group is of 59,7 million Euro, with an increase of 13,3% compared to the 52,7 million Euro of the same period in 2014, with an incidence on revenues of 25,2%. EBIT is of 39,5 million Euro, +11,9% from the same period of 2014, when it was 35,3 million Euro.
Regarding Net Financial Position, it was negative for 92,2 million Euro (at the same period of 2014 it was 68,8 million Euro). Net debt/Ebitda ratio is 1,2 and it is in line with the Industrial Plan. Debt increase is due to completion of InnoScan acquisition and the first investiments for the Brazilian plant, in Minas Gerais State. The groundbreaking is planned for next February.
"On the first nine months of 2015 we registered a growth in both business areas: in the Pharmaceutical Systems Division, representing our core business, we increased on the added value products - states Franco Stevanato, CEO of Stevanato Group. - Regarding this point, on the recent months we installed in the Piombino Dese plant a new additional EZ-fill Syringes production line. This maximizes flexibility in aseptic filling and will allow us to further increase production. From the geographical point of view North America, Center and South America registered a fast growth in business, as well as Asia Pacific".