Vaccine vial maker Stevanato ticks up 2021 guidance after Q3 results

Stevanato SpA

09/11/2021 13:22

MILAN, Nov 9 (Reuters) - Italian vaccine vial maker
Stevanato  STVN.N  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)
 ((francesca.landini@thomsonreuters.com; +39 02 66129437;
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