Stevanato Group S.p.A. Annual and transition report of foreign private issuers [Sections 13 or 15(d)]

Annual and transition report of foreign private issuers [Sections 13 or 15(d)]

Income Tax (Tables)

Income Tax (Tables)

12 Months Ended

Dec. 31, 2025

Major components of tax expense (income) [abstract]

Income tax expense is as follows:


	For the year ended December 31,
	2025			2024			2023
	(EUR thousand)
Current income tax:
Current taxes		58,369			58,572			62,610
Prior years taxes		796			(841	)		(1,932	)
Deferred tax:
Deferred taxes		(9,890	)		(15,209	)		(16,815	)
Income tax expense reported in the statement of profit or loss		49,275			42,522			43,863

Summary of Deferred Tax Charged to OCI


	For the year ended December 31,
	2025			2024			2023
	(EUR thousand)
Deferred tax related to items recognized in OCI during in the year:
Gains/(losses) from remeasurement of employee of defined benefit plans and of agent termination plans		(78	)		(7	)		15
Change in the fair value of hedging instruments		(380	)		1,119			932
Deferred tax charged to OCI		(458	)		1,112			947

Schedule of Reconciliation of Effective Tax Rate

The table below provides a reconciliation between actual income tax expense and the theoretical income tax expense, calculated by applying the Italian statutory corporate tax rate to profit before tax.


	For the year ended December 31,
	2025			2024			2023
	(EUR thousand)
Accounting profit before tax		189,106			160,288			189,553
Statutory income tax rate of 27.9%		52,761			44,720			52,885
Prior years taxes		796			(841	)		(1,932	)
DTA not recognized on tax losses carry-forward for the current fiscal year		3,989			1,770			1,854
DTA recognized on tax losses carry-forward from previous years		—			(1,272	)		(2,810	)
Tax effect on distributed dividends		336			507			827
Tax grants/not taxable items		(1,767	)		(2,774	)		(5,097	)
Different foreign tax rate effect		(335	)		412			(2,244	)
DTA/DTL effect previous years		—			—			380
Other consolidation effects		(577	)		—			—
Change of notional rate		(5,928	)		—			—
At the effective income tax rate of 26.1% (26.5% in 2024, 23.1% in 2023)		49,275			42,522			43,863
Income tax expense reported in the income statement		49,275			42,522			43,863

The Group's effective tax rate for the year ended December 31, 2025, decreased to 26.1% compared to

Summary of Timing of Tax Losses Carryforwards

The breakdown on the timing of tax losses carry-forwards is as follows:


	At December 31,		At December 31,
	2025		2024
	(EUR thousand)
Timing of unrecognized tax losses carry-forwards
Unlimited		27,466		10,488
Total unrecognized tax losses		27,466		10,488

Summary of Deferred Tax Assets and Deferred Tax Liabilities

The analysis of deferred tax assets and deferred tax liabilities at December 31, 2025 and 2024 is as follows:


	At December 31,			At December 31,
	2025			2024
	(EUR thousand)
Property, plant and equipment		42,069			40,176
Intangible assets		4,520			2,874
Tax losses carry forward		37,598			41,175
Contract balances		(7,748	)		(11,485	)
Expected credit losses		1,551			1,590
Inventory		4,648			4,761
Accruals for returns, warranty, other risks		2,793			2,715
Accruals		2,303			1,877
Other effects		2,073			(2,059	)
Lease liabilities		3,118			4,781
Right of use assets		(2,389	)		(4,033	)
Derivatives		77			412
Deferred tax assets, net		90,613			82,784
Reflected in the statement of financial position as follows:
Deferred tax assets		103,872			95,344
Deferred tax liabilities		(13,259	)		(12,560	)
Deferred tax assets, net		90,613			82,784

Schedule of Reconciliation of Net Deferred Tax Assets

The reconciliation of net deferred tax assets is as follows:


	2025			2024
	(EUR thousand)
As of January 1		82,784			66,627
Tax expense during the period recognized in profit or loss		9,890			15,209
Tax income/(expense) during the period recognized in OCI		(458	)		1,112
Other effects		(1,603	)		(164	)
As at December 31		90,613			82,784