Exhibit 99.1

Stevanato Group Reports First Quarter 2023 Financial Results

- Reiterates Full Year 2023 Guidance -

PIOMBINO DESE, Italy – May 4, 2023 – Stevanato Group S.p.A. (NYSE: STVN), a leading global provider of drug containment, drug delivery, and diagnostic solutions to the pharmaceutical, biotechnology, and life sciences industries, today announced its financial results for the first quarter of 2023, and maintained its fiscal 2023 guidance.

First Quarter 2023 Highlights (compared with the same period last year)
 

First Quarter Results
Revenue for the first quarter of 2023 increased 12% to €238 million (approximately 11% on constant currency basis), compared with the same period last year, mainly driven by growth in both of the Company's business segments, and the continuing shift to high value solutions. For the first quarter of 2023, revenue from high value solutions increased to 32% of total revenue, compared with 29% in the same period last year, driven by increased customer demand. For the first quarter of 2023, revenue related to Covid-19 decreased 57% and represented approximately 4% of revenue compared with approximately 10% of revenue in the first quarter of 2022.

For the first quarter of 2023, gross profit margin increased 20 basis points to 32%, compared with the same period last year, driven principally by the mix shift towards more accretive high value solutions, and to a lesser extent, improved gross profit margin in the Engineering Segment. As expected, this was offset by the increase in industrial costs and higher depreciation as the Company's new plants come into service.

Operating profit margin for the first quarter of 2023 decreased 80 basis points to 17.1% mostly due to higher selling, general and administrative expenses to support growth initiatives. Excluding start-up expenses related to the Company's new manufacturing plants, adjusted operating profit margin for the first quarter of 2023 was 18.3% and was consistent with the same period last year.
 

Franco Moro, Chief Executive Officer, stated, “We are investing in growth platforms to expand our capacity for more accretive high value solutions in order to satisfy customer demand. With the expected growth in biologics, we see ample opportunities in treatment classes such as GLP1s, monoclonal antibodies, mRNA applications as well as biosimilars, and we are well positioned to capitalize on favorable industry trends which we expect will drive durable, organic growth."

Biopharmaceutical and Diagnostic Solutions Segment (BDS)
For the first quarter of 2023, revenue grew 13% to €195.5 million (approximately 12% on a constant currency basis), compared with the prior-year period, driven primarily by growth in the Company's core drug containment business. For the first quarter of 2023, revenue from high value

solutions increased 25% to €76.7 million, while revenue from other containment and delivery solutions increased 7% to €118.8 million.

Year-over-year gross profit margin expansion was principally driven by the mix shift to more accretive high value solutions, which resulted in a gross profit margin of 33.7%. For the first quarter of 2023, operating profit margin was 19.8% and lower compared with last year due to higher SG&A expenses to support growth initiatives.

Engineering Segment
Revenue increased 7% to €42.4 million for the first quarter of 2023, compared with the same period last year, driven by higher sales from pharmaceutical visual inspection lines, and assembly and packaging lines.

For the first quarter of 2023, gross profit margin increased 30 basis points to 21.7% driven by margin expansion in all product families and continued business optimization efforts. Operating profit margin in the first quarter of 2023 increased 140 basis points to 15.2%, compared with the prior-year period, due to higher gross profit and better absorption of SG&A costs.

Balance Sheet and Cash Flow
As of March 31, 2023, the Company had net debt of €46.5 million, cash and cash equivalents of €158.8 million, and €130 million available under its loan agreements. The Company believes that it has adequate liquidity to fund near-term growth. As expected, capital expenditures for the first quarter totaled €113.2 million, as the Company continues its strategic investments in capacity expansion for high value solutions to meet customer demand.

For the first quarter 2023, cash generated from operating activities was €37.1 million, which reflects our current working capital needs to support growth in the business. Cash used for investing activities was €128.8 million which resulted in negative free cash flow of €91.0 million.
 

New Order Intake and Backlog
For the first quarter of 2023, new order intake decreased to approximately €236 million, compared with €324 million in the same period last year, due to the expected decrease in Covid-19 orders and the normalization of customer ordering patterns as global supply chains continue to stabilize. For the first quarter of 2023, committed backlog totaled approximately €955 million.

Reiterating 2023 Guidance
The Company is reiterating its fiscal year 2023 guidance and still expects:

Executive Chairman, Franco Stevanato, concluded, "Our decades of experience in delivering high quality, high performing products makes us a partner of choice with customers. Our long history of embedding science and technology to drive continuous advancements has led to a highly differentiated product portfolio. Together with our global footprint, and our integrated end-to-end products, we offer customers a unique value proposition which provides us with sustainable, competitive advantages in an environment of robust customer demand and favorable secular tailwinds."

Conference Call
The Company will host a conference call and webcast at 8:30 a.m. (ET) on Thursday, May 4, 2023 to

discuss financial results. During the call, management will refer to a slide presentation which will be available at 6:30 a.m. (ET) on the day of the call on the “Financial Results” page under the Company's Investor Relations section of its website.

Pre-registration: Participants who pre-register will be given a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. We encourage participants to pre-register for the call using the following link: http://services.choruscall.it/DiamondPassRegistration/register?confirmationNumber=4544003&linkSecurityString=514976446

Webcast: A live, listen-only webcast of the call will be available at the following link:https://87399.choruscall.eu/links/stevanato230504.html

Dial in: Those who are unable to pre-register may dial in by calling:

Italy: + 39 02 802 09 11

UK: + 44 1 212 818004

USA: +1 718 705 8796

USA Toll Free: +1 855 265 6958

Replay: The webcast will be archived for three months on the Company’s Investor Relations section of its website at:

https://ir.stevanatogroup.com/financial-results.

Forward-Looking Statements

This press release may include forward-looking statements. The words "expect,” "expects," "see," “is reiterating,” “rising,” "drive," "continues," "continuing," "believes," "continuous," “increased,” “well positioned,” “favorable,” "growth," "durable," and similar expressions (or their negative) identify certain of these forward-looking statements. These forward-looking statements are statements regarding the Company's intentions, beliefs or current expectations concerning, among other things, the investments the Company expects to receive, the expansion of manufacturing capacity, the Company’s plans regarding its presence in the U.S., business strategies, the Company’s capacity to meet future market demands and support preparedness for future public health emergencies, and results of operations. The forward-looking statements in this press release are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward looking statements. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of regulators and other factors such as the Company's ability to continue to obtain financing to meet its liquidity needs, changes in the political, social and regulatory framework in which the Company operates or in economic or technological trends or conditions. For a description of the risks that could cause the Company’s future results to differ from those expressed in any such forward looking statements, refer to the risk factors discussed in our most recent annual report on Form 20-F filed with the U.S. Securities and Exchange Commission. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. Except as required by law, the company assumes no obligation to update any such forward-looking statements.

Non-GAAP Financial Information

This press release contains non-GAAP financial measures. Please refer to the tables included in this press release for a reconciliation of non-GAAP financial measures.

Management monitors and evaluates our operating and financial performance using several non-GAAP financial measures, including Constant Currency Revenue, EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Operating Profit, Adjusted Operating Profit Margin, Adjusted Net Profit, Adjusted Diluted EPS, Capital Employed, Net Cash, Free Cash Flow, and CAPEX. We believe that these non-GAAP financial measures provide useful and relevant information regarding our performance and improve our ability to assess our financial condition. While similar measures are widely used in the industry in which we operate, the financial measures we use may not be comparable to other similarly titled measures used by other companies, nor are they intended to be substitutes for measures of financial performance or financial position as prepared in accordance with IFRS.

About Stevanato Group

Founded in 1949, Stevanato Group is a leading global provider of drug containment, drug delivery and diagnostic solutions to the pharmaceutical, biotechnology and life sciences industries. The Group delivers an integrated, end-to-end portfolio of products, processes, and services that address customer needs across the entire drug life cycle at each of the development, clinical and commercial stages. Stevanato Group’s core capabilities in scientific research and development, its commitment to technical innovation, and its engineering excellence are central to its ability to offer value added solutions to clients. To learn more, visit: www.stevanatogroup.com.

Contact

Media Investor Relations

Stevanato Group Lisa Miles

media@stevanatogroup.com lisa.miles@stevanatogroup.com

Consolidated Income Statement

(Amounts in € millions, except per share data)

(Unaudited)

Reported Segment Information

(Amounts in € millions)

(Unaudited)

Cash Flow

(Amounts in € millions)

(Unaudited)

Non-U.S. GAAP Financial Information

This press release contains non-U.S. GAAP financial measures. Please refer to "Non-U.S. GAAP Financial Information" and the tables included in this press release for a reconciliation of non-U.S. GAAP financial measures.

Reconciliation of Revenue to Constant Currency Revenue

(Amounts in € millions)

(Unaudited)

Reconciliation of EBITDA

(Amounts in € millions)

(Unaudited)

Reconciliation of Reported and Adjusted EBITDA, Operating Profit, Income Taxes,

Net Profit, and Diluted EPS

(Amounts in € millions, except per share data)

(Unaudited)

Capital Employed

(Amounts in € millions)

(Unaudited)

Free Cash Flow

(Amounts in € millions)

(Unaudited)

Net Cash / (Net Debt)

(Amounts in € millions)

(Unaudited)

CAPEX

(Amounts in € millions)

(Unaudited)

Reconciliation of 2023 Guidance

Reported and Adjusted EBITDA, Operating Profit, Net Profit, Diluted EPS

(Amounts in € millions, except per share data)

(Unaudited)

*May not add due to rounding