Milan, March 5, 2026, 15:17 CET
- Stevanato is guiding for 2026 revenue between €1.26 billion and €1.29 billion, with adjusted EBITDA pegged in a €331.8 million to €346.9 million range.
- About 19%-20% of 2025 revenue came from GLP-1-related products, the company said.
- Shares traded in the U.S. finished roughly 19% higher following the update.
Stevanato Group S.p.A. (NYSE: STVN) rolled out its inaugural 2026 guidance Wednesday, eyeing revenue between €1.26 billion and €1.29 billion and projecting adjusted EBITDA in the €331.8 million to €346.9 million range. That figure strips out interest, taxes, depreciation, amortization and certain other items. The Italian drug-packaging firm noted GLP-1 products—used for diabetes and weight management—accounted for roughly 19% to 20% of 2025 revenue, which climbed 7% to €1.186 billion.
Guidance is under scrutiny these days, as packaging is now a sticking point for injectable drugs—think vaccines or the current obesity and diabetes therapies. Drugmakers are pushing for more ready-to-use parts to keep filling lines running and sidestep production halts.
Execution is now the focus for Stevanato. The company’s been plowing money into fresh capacity; returns will hinge on the pace those new lines ramp and when start-up costs finally stop dragging on margins.
Shares trading in the U.S. settled at $17.50 on Wednesday, up 18.81%.
Revenue for the fourth quarter rose 5% to €346.5 million, with net profit coming in at €47.6 million, according to the company. High-value solutions—those higher-margin offerings—accounted for 49% of total sales. CEO Franco Stevanato pointed to “winning our fair share of the GLP1 market,” adding the group is heading into 2026 with “positive momentum and a clear focus on disciplined execution.” Business Wire
CFO Marco Dal Lago told the earnings call that Stevanato had factored in an €18 million hit from currency translation, reflecting the effect of converting overseas sales into euros. The company’s capex is projected to land between €270 million and €290 million before counting contributions from customers, Dal Lago said. For free cash flow, the target is around breakeven to slightly positive, roughly €20 million. Adjusted EBITDA margin, he added, should climb by about 150 basis points, or 1.5 percentage points.
Stevanato is projecting adjusted diluted EPS at a midpoint of €0.61—just under analysts’ €0.64 consensus. Revenue guidance, though, lands right on the €1.28 billion consensus estimate, according to .
The company is shifting focus to higher-end vials, syringes and cartridges, moving into direct competition with Gerresheimer, Schott Pharma and West Pharmaceutical Services. Drugmakers are signing longer-term supply deals for biologic medicine production.
Still, plenty of risks linger. If GLP-1 injection demand underwhelms, or customer qualifications get pushed back, or those new plants don’t ramp up fast enough, margins could take a hit—and higher sales might not translate into real cash. Project timing and order flows can also cause the engineering unit’s results to wobble.
Stevanato splits its business between Biopharmaceutical and Diagnostic Solutions, and Engineering. The company provides drug containment and delivery systems, plus equipment for pharmaceutical manufacturing.
