Revenue Climbs 17.4% for Stevanato in First Nine Months of 2015
Stevanato Group recently announced consolidated revenue of 237.4 million euro (~ $258.2 million) at the end of the third quarter 2015, a 17.4% increase from the same period in 2014. Increases were achieved in both the Pharmaceutical Systems and Engineering Systems divisions.
Stevanato reported earnings before interest, tax, depreciation and amortization (EBITDA) of 59.7 million euro (~$64.9 million), an increase of 13.3% compared to the 52.7 million euro (~ $57.3 million) of the same period in 2014. Earnings before interest and tax reportedly was 39.5 million euro (~$42.9 million), an increase of 11.9% from the same period of 2014, when it was $38.3 million.
The company’s net financial position was negative for 92.2 million euro (~ $100.2 million). Its net debt/EBITDA ratio is 1.2, in line with the Industrial Plan. The debt increase was due to the completion of the InnoScan acquisition and initial investments for the Brazilian plant in Minas Gerais State. Groundbreaking for the plant is planned for February.
“For the first nine months of 2015, we registered growth in both business areas,” said Franco Stevanato, CEO. “In the Pharmaceutical Systems Division, representing our core business, we increased on the added value products. In 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 a geographical point of view, North America, Central and South America registered a fast growth in business, as well as Asia Pacific.”
For more information, visit www.stevanatogroup.com.