Analyst's questions to Stevanato Group SpA (STVN) leadership • Q4 2024
Question
An analyst from BNP Paribas asked for clarification on the 34% decline in vial sales, specifically the relative impact on EZ-fill versus bulk vials, and inquired how customer contributions to CapEx would be recognized for free cash flow calculations.
Answer
CFO Marco Dal Lago confirmed the decline was more pronounced in sterile (EZ-fill) vials but did not provide a specific split. On CapEx, he explained that approximately €60 million in customer prepayments and contributions are expected in 2025, which will be netted against gross CapEx for the guided net CapEx range of €250 million to €280 million.