SIT, the Veneto-based company specializing in domestic heating systems, publishes the preliminary results and confirms the forecasts for the 2019 financial year: sales amounted to 348,7 million euros, down slightly compared to 2018 but with strong growth in the Smart Gas Metering division (production of latest generation meters), with revenues growing by 23% to 88,6 million euros. In the fourth quarter alone, the core sales of the division amounted to 19,1 million, marking a +25,7% compared to 15,2 million in the same period of 2018.
Company listed on the MTA segment of Borsa Italiana (where in the morning it gained almost one percentage point at 6,5 euros per share) also confirms the achievement of forecasts for 2019 communicated to the market on the occasion of the results for the first 9 months, namely:
– sales performance in line with the trend recorded as at 30 September 2019;
– EBITDA growth mid single digit;
– investment review;
– positive cash flows expected in the fourth quarter with improvement in net debt compared to 30 September 2019.
SIT specifically develops, manufactures and markets components and systems for the control, regulation and safety of domestic heating appliances and collective catering systems. The group is made up of manufacturing companies located in Italy, Mexico, Holland, Romania and China, as well as a commercial and distribution structure that covers all the reference world markets.
