Here are 1-3 brief analogies for Stevanato (STVN):

• Intel for pharmaceutical packaging
• Corning for pharmaceutical glass and drug delivery systems
• TSMC for drug containment and delivery solutions

• Glass Primary Packaging: Manufactures high-quality glass vials, cartridges, and syringes for pharmaceutical drug containment.
• Plastic Diagnostic and Medical Devices: Designs and produces plastic components and finished devices for diagnostics and drug delivery applications.
• Engineering Solutions: Provides integrated glass converting, visual inspection, assembly, and serialization equipment for pharmaceutical manufacturing processes.

Stevanato Group (STVN) primarily sells its products and services to other companies (B2B) within the pharmaceutical, biotechnology, and life sciences industries.

Due to the confidential nature of client relationships, which is common practice in the highly competitive pharmaceutical and life sciences sectors, Stevanato Group does not publicly disclose the specific names of its major customers. Their financial filings indicate that no single customer accounted for more than 10% of their total revenue in recent fiscal years, suggesting a diverse customer base rather than reliance on a few dominant clients.

However, Stevanato Group consistently describes its customer base as comprising the following categories of companies:

• Large Pharmaceutical Companies: These are global enterprises involved in the research, development, manufacturing, and marketing of prescription drugs, over-the-counter medicines, and generics. They rely on Stevanato's advanced primary packaging (such as vials, cartridges, and syringes), drug delivery systems, and analytical services for drug containment and administration across a wide range of therapeutic areas.

• Biotechnology Companies: This category includes firms focused on developing innovative biologic drugs, vaccines, and advanced therapies (e.g., cell and gene therapies). These companies often require specialized, high-performance, and sterile packaging solutions tailored to the unique stability and administration requirements of sensitive biological products.

• Contract Development and Manufacturing Organizations (CDMOs): CDMOs provide outsourced drug development, clinical manufacturing, and commercial production services to pharmaceutical and biotech companies. As CDMOs manage drug products for numerous clients, they are significant purchasers of Stevanato's primary packaging components and related services, integrating them into their manufacturing processes.

• Other Healthcare and Life Sciences Companies: This broader category can include companies involved in diagnostics, medical devices, and other specialized areas within the healthcare ecosystem that require Stevanato's expertise in high-precision glass packaging, plastic solutions, and precision engineering for their products.

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Franco Stevanato Chief Executive Officer

Franco Stevanato resumed his role as Chief Executive Officer of Stevanato Group in May 2024, having previously served as Executive Chairman of the Board. He also led the Group as CEO from 2010 to 2020. Mr. Stevanato is responsible for guiding the company's global expansion, strategic objectives, and its value proposition as an integrated solutions provider in the biopharmaceutical and diagnostic solutions, engineering equipment, and analytical services sectors. He began his career in sales at Saint-Gobain in France. Under his leadership, the Group experienced consistent growth, with revenue increasing from €143 million in 2010 to over €1.1 billion in 2024.

Marco Dal Lago Chief Financial Officer

Marco Dal Lago joined Stevanato Group in 2020 as Chief Financial Officer, overseeing global finance, controlling, tax, information technology, legal, and administrative teams. He brings over 25 years of experience in controlling, finance, administration, compliance, IT, and risk management within multinational industrial companies, including coordinating multi-year planning, mergers and acquisitions, and IPO processes. Before joining Stevanato Group, he was the CFO of Gruppo Mastrotto, a large leather manufacturer in Europe. He also spent more than 15 years in various executive financial management positions, including group CFO, at Nidec ASI S.p.A.

Mauro Stocchi Chief Business Strategy Officer

Mauro Stocchi joined Stevanato Group in 2004 and currently serves as the Chief Business Strategy Officer, responsible for all strategic business development activities, including sales, product management, and corporate development. He has held several key management roles within the company, including Corporate General Manager and Chief Financial Officer. His career began in the Purchasing department of De Longhi S.p.A., followed by a decade in various positions within the Siemens Group before joining Stevanato Group.

Carla Costa Chief Human Resources Officer

Carla Costa was appointed Chief Human Resources Officer in April 2025, leading the Group's global human resources strategy. She joined Stevanato Group in 2024 as the Senior Director, Corporate Human Resources. With over 20 years of industry experience, Ms. Costa is an experienced HR leader with global expertise in leadership development, talent management, and cultural change across complex multinational organizations.

Raffaele Pace President, Engineering Business Unit

Raffaele Pace was appointed President of the Engineering Business Unit in 2025, taking global responsibility for operations, technological innovation, and industrial strategy within the unit's product lines. He joined Stevanato Group in 2020 as Vice President, Operations for the Engineering Segment. Mr. Pace has over 20 years of international experience in the engineering, packaging, and pharmaceutical sectors, having held leadership roles in R&D, product management, operations, and innovation.

Stevanato Group operates in several key addressable markets for its main products and services:

• Pharmaceutical Glass Packaging (Drug Containment Solutions): The global pharmaceutical glass packaging market was valued at USD 21.9 billion in 2024 and is projected to reach USD 56.8 billion by 2034, exhibiting a Compound Annual Growth Rate (CAGR) of 10.1% from 2025 to 2034. North America held 35.3% of the global pharmaceutical glass packaging market share in 2024.

• Drug Delivery Systems: The global advanced drug delivery systems market is valued at USD 281.68 billion in 2025 and is forecast to reach USD 362.77 billion by 2030, expanding at a CAGR of 5.19%. North America accounted for 37.47% of the advanced drug delivery systems market share in 2024.

• In-Vitro Diagnostics & Medical Solutions (Medical Device Packaging): The global medical device packaging market size was valued at USD 37,725.22 million (approximately USD 37.7 billion) in 2024 and is estimated to reach USD 73,830.16 million (approximately USD 73.8 billion) by 2034, showing a CAGR of 6.9% from 2025 to 2034. North America dominated the medical device packaging market in 2024.

• Analytical & Testing Services: The global pharmaceutical analytical testing outsourcing market size was estimated at USD 8,955.8 million in 2024 and is projected to reach USD 14,559.2 million by 2030, growing at a CAGR of 8.5% from 2025 to 2030. North America dominated this global market in 2024, holding a revenue share of 52.91%.

• Engineering Systems (Glass Converting, Visual Inspection, Assembly & Packaging Equipment): null

Stevanato Group (STVN) is expected to drive future revenue growth over the next 2-3 years through several key factors:

1. Expansion of High-Value Solutions in Biopharmaceutical and Diagnostic Solutions (BDS) Segment: Stevanato Group anticipates continued robust growth in its high-value solutions, such as Nexa syringes and EZ-fill vials, within the Biopharmaceutical and Diagnostic Solutions (BDS) segment. This growth is primarily fueled by the accelerating global demand for injectable biologics and biosimilars, which require sophisticated containment and delivery systems. High-value solutions contributed a record 49% of total revenue in Q3 2025, with strong demand for Nexa syringes and EZ-fill vials specifically noted.

2. Increased Production Capacity from Strategic Capital Investments: The company has made significant capital expenditures to expand its global manufacturing footprint, particularly with new facilities in Latina, Italy, and Fishers, Indiana, U.S. These investments are crucial for scaling production to meet the growing demand for its products, with the Fishers site alone expected to generate €500 million in revenue by 2028.

3. Recovery and Normalization of Vial Demand: After a period of destocking by customers, Stevanato Group has observed signs of stabilization in vial demand and expects a gradual recovery. This normalization, especially for high-value EZ-fill vials, is projected to contribute positively to revenue growth as customers work through existing inventories and resume new orders.

4. New Product Innovation and Portfolio Enhancement: Stevanato Group's commitment to scientific research and development, including efforts in next-generation EZ-fill cartridge lines and optimizing the Nexa platform for sensitive biologics, is a significant driver. The introduction of innovative solutions for drug containment and delivery bolsters its high-value offerings and strengthens its competitive position in the market.

Share Issuance

• Stevanato Group completed its Initial Public Offering (IPO) on July 20, 2021, offering 32,000,000 ordinary shares at $21 per share, with the company offering 22,400,000 shares for gross proceeds of approximately $470.4 million.
• On March 26, 2024, Stevanato Group completed an upsized public offering, selling 7,302,500 ordinary shares at $26.00 per share, generating approximately $189.8 million in gross proceeds for the company.

Inbound Investments

• In July 2025, Stevanato Group secured €200 million in financing from BNL BNP Paribas, Cassa Depositi e Prestiti (CDP), and Banco BPM to fund ongoing capital expenditure projects for expansion in Italy (Cisterna di Latina) and the U.S. (Fishers, Indiana).

Outbound Investments

• In May 2022, Stevanato Group acquired a new industrial complex in Cisterna di Latina, Italy, to expand production capabilities for standard and premium products, with production starting in 2023.
• On November 8, 2023, Stevanato Group acquired all the business operations of Perugini S.r.l.
• In July 2023, Stevanato Group acquired the remaining 49% of its subsidiary Ompi of Japan Co. Ltd.

Capital Expenditures

• Capital expenditures totaled €302.6 million in 2022, primarily driven by investments in strategic global expansion initiatives, particularly in the U.S. and Italy.
• For 2023, capital expenditures were forecasted to be 35% to 40% of revenue, with approximately 90% allocated to growth-oriented projects, including a total investment of about €500 million for the Fishers, Indiana facility.
• Net capital expenditures for 2025 are expected to range between €250 million and €280 million, with a long-term projection of 10% to 15% of total revenue, primarily focused on expanding capacity for high-value solutions at new manufacturing facilities in Italy and the U.S.