Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Related Party Disclosures (Tables)

v3.22.4
Related Party Disclosures (Tables)
 12 Months Ended
Dec. 31, 2022
Disclosure of transactions between related parties [abstract]  
Summary of Transactions with Related Parties

The amounts of transactions with related parties recognized in the consolidated income statement and the related assets and liabilities are as follows:

For the year ended and as at December 31, 2022

 

 

 

Revenue

 

 

Costs*

 

 

 

(EUR thousand)

 

 

 

 

 

 

 

 

Other related parties

 

 

 

 

 

 

Winckler & Co. Ltd.

 

 

—

 

 

 

313

 

Società Agricola Stella S.r.l.

 

 

—

 

 

 

90

 

SFEM Italia S.r.l.

 

 

—

 

 

 

19

 

E & FKH Ejendomme ApS

 

 

—

 

 

 

419

 

Piovesan Barbara

 

 

—

 

 

 

30

 

Studio Legale Spinazzi Azzarita Troi

 

 

—

 

 

 

384

 

Fondazione Stevanato

 

 

—

 

 

 

305

 

C.T.S. Studio AS

 

 

—

 

 

 

23

 

Incog BioPharma Services Inc

 

 

509

 

 

 

—

 

 

* Costs include cost of sale, selling, general administrative costs and other expenses net

 

 

 

Trade
receivables

 

 

Trade
payables

 

 

Other Assets

 

 

Other
Liabilities

 

 

 

(EUR thousand)

 

Other related parties

 

 

 

 

 

 

 

 

 

 

 

 

Winckler & Co. Ltd.

 

 

—

 

 

 

28

 

 

 

—

 

 

 

—

 

Società Agricola Stella S.r.l.

 

 

—

 

 

 

48

 

 

 

—

 

 

 

—

 

SFEM Italia S.r.l.

 

 

—

 

 

 

2

 

 

 

—

 

 

 

—

 

Studio Legale Spinazzi Azzarita Troi

 

 

—

 

 

 

70

 

 

 

—

 

 

 

—

 

C.T.S. Studio AS

 

 

—

 

 

 

2

 

 

 

—

 

 

 

—

 

Incog BioPharma Services Inc

 

 

451

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Loan from/to related parties

For the year ended and as at December 31, 2022

 

 

 

Interest
received

 

 

Interest
paid

 

 

Financial
assets or
liabilities

 

 

 

(EUR thousand)

 

 

 

 

 

 

 

 

 

 

 

Other related parties

 

 

 

 

 

 

 

 

 

SE Holdings Co.Ltd.

 

 

—

 

 

 

5

 

 

 

(871

)

 

 

 

 

 

 

 

 

 

 

Key management personnel of the Group:

 

 

 

 

 

 

 

 

 

Directors and Key Managers

 

 

2

 

 

 

—

 

 

 

—

 

 

For the year ended and as at December 31, 2021

 

 

 

Revenue

 

 

Costs*

 

 

 

(EUR thousand)

 

 

 

 

 

 

 

 

Parent company

 

 

 

 

 

 

Stevanato Holding S.r.l.

 

 

4,475

 

 

 

—

 

 

 

 

 

 

 

 

Associate companies

 

 

 

 

 

 

Swissfillon AG

 

 

565

 

 

 

—

 

 

 

 

 

 

 

 

Other related parties

 

 

 

 

 

 

Winckler & Co. Ltd.

 

 

—

 

 

 

352

 

Società Agricola Stella S.r.l.

 

 

—

 

 

 

99

 

SFEM Italia S.r.l.

 

 

—

 

 

 

19

 

MJB Consultants LLC

 

 

—

 

 

 

57

 

Progenitor Capital Partners LLC

 

 

—

 

 

 

67

 

E & FKH Ejendomme ApS

 

 

—

 

 

 

410

 

Piovesan Barbara

 

 

—

 

 

 

30

 

Studio Legale Spinazzi Azzarita Troi

 

 

—

 

 

 

578

 

Federici William

 

 

—

 

 

 

69

 

Fondazione Stevanato

 

 

—

 

 

 

180

 

C.T.S. Studio AS

 

 

—

 

 

 

20

 

Incog BioPharma Services Inc

 

 

671

 

 

 

—

 

 

 

 

 

 

Trade
receivables

 

 

Trade
payables

 

 

Other
Assets

 

 

Other
Liabilities

 

 

 

(EUR thousand)

 

Other related parties

 

 

 

 

 

 

 

 

 

 

 

 

Winckler & Co. Ltd.

 

 

—

 

 

 

29

 

 

 

—

 

 

 

—

 

Società Agricola Stella S.r.l.

 

 

—

 

 

 

54

 

 

 

—

 

 

 

—

 

SFEM Italia S.r.l.

 

 

—

 

 

 

2

 

 

 

—

 

 

 

—

 

Studio Legale Spinazzi Azzarita Troi

 

 

—

 

 

 

151

 

 

 

—

 

 

 

—

 

C.T.S. Studio AS

 

 

—

 

 

 

2

 

 

 

—

 

 

 

—

 

Incog BioPharma Services Inc

 

 

393

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

* Costs include cost of sale, selling, general administrative costs and other expenses net

 

 

Loan from/to related parties

For the year ended and as at December 31, 2021

 

 

 

Interest
received

 

 

Interest
paid

 

 

Financial
assets or
liabilities

 

 

 

(EUR thousand)

 

 

 

 

 

 

 

 

 

 

 

Associate companies

 

 

 

 

 

—

 

 

 

 

Swissfillon AG

 

 

10

 

 

 

—

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

Other related parties

 

 

 

 

 

 

 

 

 

SE Holdings Co.Ltd.

 

 

—

 

 

 

5

 

 

 

(940

)

 

 

 

 

 

 

 

 

 

 

Key management personnel of the Group

 

 

 

 

 

 

 

 

 

Directors and Key Managers

 

 

22

 

 

 

—

 

 

 

447

 

 

For the year ended December 31, 2020

 

 

 

Revenue

 

 

Costs*

 

 

 

(EUR thousand)

 

 

 

 

 

 

 

 

Associate companies

 

 

 

 

 

 

Swissfillon AG

 

 

790

 

 

 

—

 

 

 

 

 

 

 

 

Other related parties

 

 

 

 

 

 

Winckler & Co. Ltd.

 

 

—

 

 

 

350

 

Società Agricola Stella S.r.l.

 

 

—

 

 

 

72

 

SFEM Italia S.r.l.

 

 

—

 

 

 

19

 

MJB Consultants LLC

 

 

—

 

 

 

142

 

Progenitor Capital Partners LLC

 

 

—

 

 

 

84

 

E & FKH Ejendomme ApS

 

 

—

 

 

 

399

 

Piovesan Barbara

 

 

—

 

 

 

30

 

Studio Legale Spinazzi Azzarita Troi

 

 

—

 

 

 

536

 

Fondazione Stevanato

 

 

—

 

 

 

155

 

 

* Costs include cost of sale, selling, general administrative costs and other expenses net

 

Loan from/to related parties

For the year ended December 31, 2020

 

 

 

Interest
received

 

 

Interest
paid

 

 

 

(EUR thousand)

 

 

 

 

 

 

 

 

Associate companies

 

 

 

 

 

 

Swissfillon AG

 

20

 

 

 

—

 

 

 

 

 

 

 

 

Other related parties

 

 

 

 

 

 

SE Holdings Co.Ltd.

 

 

—

 

 

 

6

 

 

 

 

 

 

 

 

Key management personnel of the Group

 

 

 

 

 

 

Directors and Key Managers

 

 

53

 

 

 

—

 

 

 
Summary of Emoluments to Directors and Key Management

Emoluments to Directors and Key Management

The fees of the Directors of Stevanato Group S.p.A. are as follows:

For the year ended December 31, 2022

 

 

 

Fixed remuneration

 

 

Pension

 

 

Share based

 

 

Total

 

 

 

Annual

 

 

Fringe

 

 

expense (2)

 

 

compensation (3)

 

 

remuneration

 

 

 

fee

 

 

benefits (1)

 

 

 

 

 

 

 

 

 

 

 

 

(EUR thousand)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Directors

 

 

2,353

 

 

 

12

 

 

 

62

 

 

 

379

 

 

 

2,806

 

 

 

(1) Fringe benefits related to car and insurance benefits

 

(2) Pensions expense related to Trattamento Fine Mandato accrued on the year

(3) Shares granted to board members

 

For the year ended December 31, 2021

 

 

Fixed remuneration

 

 

Pension

 

 

Long Term

 

 

Share based

 

 

Total

 

 

 

Annual

 

 

Fringe

 

 

expense(2)

 

 

Benefits(3)

 

 

compensation (4)

 

 

remuneration

 

 

 

fee

 

 

benefits (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(EUR thousand)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Directors

 

 

2,196

 

 

 

14

 

 

 

50

 

 

 

(2,966

)

 

 

350

 

 

 

(356

)

 

(1) Fringe benefits related to car and insurance benefits

 

(2) Pensions expense related to Trattamento Fine Mandato accrued on the year

(3) Long term benefits related to cash settled awards early terminated in 2021

(4) Shares granted to board members

For the year ended December 31, 2020

 

 

Fixed remuneration

 

 

Pension

 

 

Long Term

 

 

Total

 

 

 

Annual

 

 

Fringe

 

 

expense (2)

 

 

Benefits (3)

 

 

remuneration

 

 

 

fee

 

 

benefits (1)

 

 

 

 

 

 

 

 

 

 

 

 

(EUR thousand)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Directors

 

 

1,688

 

 

 

28

 

 

 

50

 

 

 

412

 

 

 

2,178

 

 

(1) Fringe benefits related to car and insurance benefits

(2) Pensions expense related to Trattamento Fine Mandato accrued on the year

(3) Long term benefits related to cash settled awards

The aggregate compensation for members of the Senior Management Team (excluding the Chairman and including the CEO) is as follows:

For the year ended December 31, 2022

 

 

 

Fixed remuneration

 

 

Variable

 

 

Pension

 

 

Share based

 

 

Total

 

 

 

Annual

 

 

Fringe

 

 

remuneration(2)

 

 

expense (3)

 

 

compensation(4)

 

 

remuneration

 

 

 

fee

 

 

benefits(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(EUR thousand)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Other Key Management

 

 

1,619

 

 

 

26

 

 

 

1,198

 

 

 

87

 

 

 

5,423

 

 

 

8,353

 

 

(1) Fringe benefits related to car and insurance benefits

(2) Variable remuneration related to MBO and LTI. With regard to variable compensation, key managers' performance is measured not only by financial indicators, such as revenue and EBITDA margin, but also by non-financial indicators such as (i) environment: programs in line with carbon neutrality, (ii) gender balance in senior position, (iii) quality mindset and performances and (iv) values and guiding principles.

(3) Pensions expense related to Trattamento Fine Rapporto accrued on the year

(4) Shares granted under stock grant plan 2021-2027 and other shares based incentive plans

 

For the year ended December 31, 2021

 

 

 

Fixed remuneration

 

 

Variable

 

 

Pension

 

 

Long Term

 

 

Share based

 

 

Total

 

 

 

Annual

 

 

Fringe

 

 

remuneration(2)

 

 

expense(3)

 

 

Benefits(4)

 

 

compensation(5)

 

 

remuneration

 

 

 

fee

 

 

benefits(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(EUR thousand)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Other Key Management

 

 

1,210

 

 

 

21

 

 

 

1,014

 

 

 

85

 

 

 

(6,007

)

 

 

1,536

 

 

 

(2,141

)

 

(1) Fringe benefits related to car and insurance benefits

(2) Variable remuneration related to MBO and LTI

(3) Pensions expense related to Trattamento Fine Rapporto accrued on the year

(4) Long term benefits related to cash settled awards early terminated in 2021

(5) Share-based compensation awarded under stock grant plan 2021-2027

For the year ended December 31, 2020

 

 

 

Fixed remuneration

 

 

Variable

 

 

Pension

 

 

Long Term

 

 

Total

 

 

 

Annual

 

 

Fringe

 

 

remuneration(2)

 

 

expense(3)

 

 

Benefits(4)

 

 

remuneration

 

 

 

fee

 

 

benefits(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(EUR thousand)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Other Key Management

 

 

1,150

 

 

 

23

 

 

 

698

 

 

 

81

 

 

 

1,254

 

 

 

3,206

 

 

(1) Fringe benefits related to car and insurance benefits

(2) Variable remuneration related to MBO

(3) Pensions expense related to Trattamento Fine Rapporto accrued on the year

(4) Long term benefits related to cash settled awards