Stevanato Group Spa (STVN) has released an update.
Stevanato Group S.p.A., a global pharmaceutical service provider, has reported a slight 1% decrease in revenue to €236.0 million for Q1 2024, attributing the dip to industry-wide destocking and postponed orders from a key customer. Despite the challenges, high-value solutions now make up 37% of the total revenue, signaling a shift towards more specialized offerings. The company has revised its 2024 guidance, now expecting lower revenue and adjusted EBITDA, but remains committed to its mid-term growth targets.
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