Stevanato Group S.p.A. Files 20-F Report for Fiscal Year Ended December 31, 2023

TL;DR

<b>Stevanato Group S.p.A. has submitted its 20-F annual report detailing financial performance and assets for the year ending December 31, 2023.</b>

AI Summary

Stevanato Group S.p.A. (STVN) filed a Foreign Annual Report (20-F) with the SEC on March 7, 2024. Stevanato Group S.p.A. filed its annual 20-F report for the fiscal year ending December 31, 2023. The filing includes detailed financial information, property, plant, and equipment data, and segment reporting. Specific financial instruments and their fair value measurements are disclosed, including Level 2 and Level 3 hierarchy. Information on employee benefits, lease liabilities, and bank loans with maturity dates is provided. The report covers various intangible assets, including concessions, licenses, trademarks, and assets in progress.

Why It Matters

For investors and stakeholders tracking Stevanato Group S.p.A., this filing contains several important signals. This filing provides a comprehensive overview of Stevanato Group's financial health and operational segments, crucial for investors assessing the company's stability and growth prospects. The detailed breakdown of assets, liabilities, and financial instruments offers insights into the company's risk management strategies and its exposure to market fluctuations.

Risk Assessment

Risk Level: medium — Stevanato Group S.p.A. shows moderate risk based on this filing. The filing contains extensive financial data and disclosures, including various financial instruments and risk exposures, which require careful analysis to fully understand the company's financial position and potential risks.

Analyst Insight

Investors should review the detailed segment reporting and financial instrument disclosures to understand revenue streams and potential market risks.

Revenue Breakdown

Key Numbers

• 2023-12-31 — Report Period End Date (Conformed period of report)
• 2024-03-07 — Filing Date (Filed as of date)
• 3841 — SIC Code (Standard Industrial Classification)
• 001-40618 — SEC File Number (SEC file number)

Key Players & Entities

• Stevanato Group S.p.A. (company) — Filer name
• 2023-12-31 (date) — Conformed period of report
• 2024-03-07 (date) — Filed as of date
• Padua (location) — Business address city
• 39 049 9318173 (phone) — Business phone
• IT (country) — Country code
• JP (country) — Country code
• Asia Pacific (region) — Geographic segment

FAQ

Risk Factors

• Interest Rate Risk [medium — financial]: The company is exposed to interest rate risk on its financial payables for share acquisition and fixed-rate notes.
• Exchange Rate Sensitivity [medium — financial]: The company has forward foreign exchange contracts to manage exchange rate sensitivity, particularly for the Euro.
• Fair Value Measurement [medium — financial]: Disclosures include recurring fair value measurements for financial assets and investments.

Glossary

Property, Plant and Equipment

Tangible assets held for use in the production or supply of goods or services, for rental to others, or for administrative purposes. (Key component of the company's asset base, impacting operational capacity and financial reporting.)

Filing Documents

• stvn-20231231.htm (20-F) — 8745KB
• stvn-ex1_2.htm (EX-1.2) — 266KB
• stvn-ex2_1.htm (EX-2.1) — 99KB
• stvn-ex4_2.htm (EX-4.2) — 70KB
• stvn-ex8_1.htm (EX-8.1) — 22KB
• stvn-ex11_1.htm (EX-11.1) — 219KB
• stvn-ex11_2.htm (EX-11.2) — 81KB
• stvn-ex12_1.htm (EX-12.1) — 26KB
• stvn-ex12_2.htm (EX-12.2) — 26KB
• stvn-ex13_1.htm (EX-13.1) — 11KB
• stvn-ex13_2.htm (EX-13.2) — 11KB
• stvn-ex15_1.htm (EX-15.1) — 6KB
• stvn-ex23_1.htm (EX-23.1) — 7KB
• stvn-ex23_2.htm (EX-23.2) — 3KB
• stvn-ex97.htm (EX-97) — 46KB
• img129582130_0.jpg (GRAPHIC) — 857KB
• img129582130_1.jpg (GRAPHIC) — 1155KB
• img129582130_2.jpg (GRAPHIC) — 711KB
• img129582130_3.jpg (GRAPHIC) — 321KB
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• img129582130_5.jpg (GRAPHIC) — 742KB
• img129582130_6.jpg (GRAPHIC) — 416KB
• img129582130_7.jpg (GRAPHIC) — 589KB
• img129582130_8.jpg (GRAPHIC) — 612KB
• img129582130_9.jpg (GRAPHIC) — 654KB
• img129582130_10.jpg (GRAPHIC) — 665KB
• img129582130_11.jpg (GRAPHIC) — 820KB
• img129582130_12.jpg (GRAPHIC) — 675KB
• img129582130_13.jpg (GRAPHIC) — 88KB
• img152799724_0.jpg (GRAPHIC) — 95KB
• 0000950170-24-027928.txt (&nbsp;) — 59198KB
• stvn-20231231.xsd (EX-101.SCH) — 3496KB
• stvn-20231231_htm.xml (XML) — 10624KB

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No (APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS) Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes No TABLE OF CONTENTS PART I ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 1 A. DIRECTORS AND SENIOR MANAGEMENT 1 B. ADVISERS 1 C. AUDITORS 1 ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 1 A. OFFER STATISTICS 1 B. METHOD AND EXPECTED TIMETABLE 1 ITEM 3. KEY INFORMATION 1 A. RESERVED 1 B. CAPITALIZATION AND INDEBTEDNESS 1 C. REASONS FOR THE OFFER AND USE OF PROCEEDS 1 D.

RISK FACTORS

RISK FACTORS 1 ITEM 4. INFORMATION ON THE COMPANY 37 A. HISTORY AND DEVELOPMENT OF THE COMPANY 37 B. BUSINESS OVERVIEW 38 C. ORGANIZATIONAL STRUCTURE 68 D. PROPERTY, PLANTS AND EQUIPMENT 68 ITEM 4A. UNRESOLVED STAFF COMMENTS 68 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 69 A. operating results 69 B. liquidity and capital resources 80 C. research and development, patents and licenses etc. 92 D. trend information 92 E. critical accounting estimates 92 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 93 A. DIRECTORS AND SENIOR MANAGEMENT 93 B. COMPENSATION 96 C. BOARD PRACTICES 102 D. EMPLOYEES 107 E. SHARE OWNERSHIP 107 f. disclosure of a registrant's actionto recover erroneously awarded compensation 107 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 107 A. MAJOR SHAREHOLDERS 107 B. RELATED PARTY TRANSACTIONS 108 C. INTERESTS OF EXPERTS AND COUNSEL 111 ITEM 8. FINANCIAL INFORMATION 112 A. CONSOLIDATED STATEMENTS AND OTHER FINANCIAL INFORMATION 112 B. SIGNIFICANT CHANGES 112 ITEM 9. THE OFFER AND LISTING 112 A. OFFER AND LISTING DETAILS . 112 B. PLAN OF DISTRIBUTION 112 C. MARKETS 112 D. SELLING SHAREHOLDERS 112 E.

DILUTION

DILUTION 112 F. EXPENSES OF THE ISSUE 112 ITEM 10. ADDITIONAL INFORMATION 112 A. SHARE CAPITAL 112 B. MEMORANDUM OF ASSOCIATION AND BY-LAWS 114 C. MATERIAL CONTRACTS 135 D. EXCHANGE CONTROLS 135 E. TAXATION 136 F. DIVIDENDS AND PAYING AGENTS 148 i G. 148 H. DOCUMENTS ON DISPLAY 148 I. SUBSIDIARY INFORMATION 149 J. ANNUAL REPORT TO SECURITY HOLDERS 149 ITEM 11.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 149 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 149 A. DEBT SECURITIES 149 B. WARRANTS AND RIGHTS 149 C. OTHER SECURITIES 149 D. AMERICAN DEPOSITARY SHARES 149 PART II 150 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES and DELINQUENCIES 150 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 150 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 150 ITEM 16. RESERVED 152 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 152 ITEM 16B. CODE OF ETHICS 153 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 153 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 153 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 154 ITEM 16F. CHANGE IN REGISTRANTS CERTIFYING ACCOUNTANT 154 ITEM 16G. CORPORATE GOVERNANCE 154 ITEM 16H. MINE SAFETY DISCLOSURE 155 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 155 item 16.J. insider trading policies 155 item 16.k. cybersecurity 155 PART III 157 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 157 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 157 ITEM 19. EXHIBITS 157 ii Explanatory Note Throughout this annual report, unless the context otherwise requires, references to "Stevanato Group S.p.A.", "Stevanato", the "Company", "we", "us", "Group", "our" and words of similar import refer to Stevanato Group S.p.A. and its consolidated subsidiaries. Unless otherwise indicated, all references to "", "EUR" and "Euro" in this annual report are to, and amounts are presented in, euros. All references to "US

Financial Statements

Financial Statements We present in this annual report the audited consolidated financial statements as of December 31, 2023 and 2022, and for the years ended December 31, 2023, 2022 and 2021. These financial statements were prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board (IFRS). The consolidated financial statements and the notes to the consolidated financial statements are referred to collectively as the "Consolidated Financial Statements". All references herein to "our financial statements" or "our consolidated financial statements", are the Consolidated Financial Statements included elsewhere in this annual report. Our fiscal year ends on December 31. References in this annual report to a fiscal year, such as "fiscal year 2023," relate to our fiscal year ended on December 31 of that calendar year. As of the date of this annual report, our authorized share capital is 21,698,480.00 divided into 295,540,036 shares without par value, including 34,870,467 ordinary shares and 260,669,569 Class A shares, of which 30,073,093 shares are held in treasury. On March 4, 2021, the shareholders' meeting approved a share split following which the then existing 20,002 shares have been split into a total of 100,010,000 ordinary shares with no par value, without changing the amount of the share capital. On July 1, 2021 the shareholders' meeting approved a further share split following which all the existing 100,010,000 shares have been split into a total of 272,427,240 shares in the ratio of 2.724 new shares post-split for each share outstanding prior to the share split. In connection with the split that occurred on July 1, 2021, all of the ordinary shares held by Stevanato Holding S.r.l. and the ordinary shares held in treasury were converted into Class A shares. On July 20, 2021 we completed our initial public offering, at completion of which 22,400,000 ordinary shares were offered by us a

Identity of Directors, Senior Management and Advisers

ITEM 1. Identity of Directors, Senior Management and Advisers A. Directors and Senior Management Not applicable. B. Advisers Not applicable. C. Auditors Not applicable.

Offer Statistics and Expected Timetable

ITEM 2. Offer Statistics and Expected Timetable A. OFFER STATISTICS Not applicable. B. METHOD AND EXPECTED TIMETABLE Not applicable.

Key Information

ITEM 3. Key Information A. res erved B. Capitalization and INDEBTEDNESS Not applicable. C. Reasons for the Offer and Use of Proceeds Not applicable. D. Risk Factors Our business, financial condition, results of operations and liquidity can suffer materially as a result of any of the risks described below. While we have described all of the risks we consider material, these risks are not the only ones we face. We are also subject to the same risks that affect many other companies, such as technological obsolescence, labor relations, geopolitical events, climate change and risks related to the conducting of international operations. Additional risks not known to us or that we currently consider immaterial may also adversely impact our businesses. Our businesses routinely encounter and address risks, some of which may cause our future results to be different—sometimes materially different—than we presently anticipate. Summary The following summarizes some, but not all, of the risks provided below. Please carefully consider all of the information discussed in this Item 3.D. "Risk Factors" in this annual report on Form 20-F for a more thorough description of these and other risks. Risks Relating to our Business and Industry Our product offerings are highly complex, and, if our products do not satisfy applicable quality criteria, specifications and performance standards, we could experience lost sales, delayed or reduced market acceptance of our products, increased costs and damage to our reputation. 1 We must develop new products and enhance existing products, adapt to significant technological and innovative changes and respond to introductions of new products by competitors in order to remain competitive. Our backlog might not accurately predict our future revenue, and we might not realize all or any part of the anticipated revenue reflected in our backlog. If we fail to maintain and enhance our brand and reputation, our business, results

View Full Filing

View this 20-F filing on SEC EDGAR