SIT, a Venetian multinational listed on the MTA segment of Borsa Italiana which, through its Heating and Smart Metering divisions, creates intelligent solutions for controlling environmental conditions and measuring consumption, has realized in 2020 at consolidated level typical sales of 317,7 million euros (down by 8,9% compared to 348,7 million euros in 2019), limiting the Covid impact and achieving the announced objectives.
In fourth quarter 2020 characteristic sales amount to 92,8 million euros, up 5,0% compared to the same period of 2019 (88,4 million euros).
Consolidated core sales highlight the different performance of the two divisions of the Group during 2020:
● Heating Division: in 2020 sales amounted to 248,8 million euros, -4,3% compared to the 260,0 million euros of 2019 (-3,6% at constant exchange rates). In the fourth quarter, core sales of the division recorded an increase of 7,4% (9,5% at constant exchange rates) reaching 74,4 million compared to 69,3 million euros in the same period of 2019, due to the restocking of the supply chain and the positive impact of incentives;
● Smart Gas Metering Division: in 2020 sales amounted to 69,0 million euros against 88,6 million in 2019, marking a reduction of 22,2%, in line with expectations. In the fourth quarter, core sales of the division amounted to 18,4 million, slightly down (-3,7%) compared to 19,1 million in the same period of 2019.
SIT's Board of Directors will approve the next one 29 March the draft financial statements as at 31 December 2020.
