Stevanato Group (STVN) has released an update.
Stevanato Group reported a mixed second quarter in 2024, with revenue slightly surpassing expectations due to growth in the BDS Segment, but challenges in the Engineering Segment led to revised annual guidance. The company experienced delays and increased costs, particularly in their Denmark operations, but is undertaking initiatives to optimize engineering processes and supply chain strategies. Despite these hurdles, Stevanato remains optimistic about demand recovery, especially for vial orders, and is progressing with capacity expansion projects in Indiana and Italy.
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