sit, a listed company that produces systems and components for gas boilers and smart meters, will invest between this year and next 20 million euros in research and development to accelerate the introduction of new products and solutions increasingly focused on electronics.
The main objectives are two: to develop integrated electronic and mechanical solutions, able to communicate with the external environment through the internet of things, and implement new communication protocols of smart gas meters in order to make the product suitable for international markets, both in Europe and outside Europe.
In 2018 the company – which owns 90 patents – produced over 29 million pieces, allocating 4% of annual turnover to research and development.
Sit has a total of eight production plants distributed between Italy (Padua, Rovigo, Montecassiano) and abroad (Romania, Holland, China and Mexico), but the distribution covers 69 countries.
In the period 2013-2018, the business smart gas metering has recorded a compound annual growth rate of 70,5% and, according to a recent report by Ubi Banca on Sit, the order book in this business leads to the forecast of sales growth of at least 15%.
"In 2019 - writes the company - Sit will be able to increase its market share of the smart meter fleet in Italy from 30% to approximately 35% also thanks to the fact that further demand has been acquired after other operators, having won the tenders, do not they were then able to have the necessary production capacity or the ability to guarantee constant quality standards on a large scale”.
The Ubi Banca report forecasts that the Heating Division will register a slight overall slowdown in volumes due to the stop, albeit temporary, of the Chinese and Turkish regulated markets. "A resumption of the "from Coal to Gas" project in China - currently on stand-by - could give a further boost to revenues - continues the company - The American market continues to show solid growth".
LSit's proprietary technology "allows greater measurement precision and a significant reduction in the physical dimensions of the meter itself - concludes the company - with the possibility of measuring different types of methane gas (including, for example, biogas) distributed on the network at various pressure levels with the same product, while hydrogen measurement is being tested. This feature opens up space for further opportunities for the company in countries that have set themselves the goal of using zero-emission fuels, such as the UK and the Netherlands in particular”.
