Vial maker Stevanato expects double-digit sales growth in 2022

Stevanato SpA

08/03/2022 18:25

MILAN, March 8 (Reuters) - Italian vaccine vial maker
Stevanato  STVN.N  on Tuesday said it expected double-digit
growth for revenue and core profits this year after beating its
forecast for 2021 financial results.
    The family-controlled group, which listed on the New York
Stock Exchange in July, said it expected sales to be between
935-845 million euros this year. 
    Last year revenue rose 27.5% to reach the record level of
844 million euros ($924 million), beating the group's guidance
thanks to products related to COVID-19 and high value solutions.
    The 2021 adjusted core profit reached 218 million euros, the
company said in a statement.
    Stevanato expects to reach adjusted earnings before
interest, taxes, depreciation and amortization (EBITDA) in the
range of 248 million euros to 253 million euros this year.

($1 = 0.9132 euros)

 (Reporting by Francesca Landini; writing by Francesco Zecchini;
editing by Grant McCool)
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