SIT’s sales for Q4 2022 were up 9.8% (on Q4 2021) – supported by the excellent Metering division performance (+41.3%)

 

Padua, January 20, 2023 – SIT S.p.A. (ticker SIT:IM), a multinational company listed on the Euronext Milan segment that creates intelligent solutions for the control of environmental conditions and consumption measurement, announces 2022 preliminary core sales of Euro 387.6 million, up 3.3% on Euro 375.2 million in 2021.

The two divisions report the following consolidated sales for 2022:

• Heating Division: sales in 2022 totalled Euro 315 million, increasing 5.6% on Euro 298.2 million in 2021;
• Metering Division: sales in 2022 amounted to Euro 72.6 million, decreasing 5.7% on Euro 77.0 million in 2021.

Specifically, with regard to Smart Gas Metering, 2022 sales – in line with forecasts – amounted to Euro 48.4 million, -15.2% on Euro 57.1 million in the previous year.

Water Metering sales in 2022 totalled Euro 24.2 million, up 21.6% on the previous year.

The Board of Directors of SIT will approve the financial statements at December 31, 2022 on March 21.

Core sales – preliminary figures- UNAUDITED-

 

(Euro millions)	FY 2022	%	FY 2021	%	diff %
Heating	315.0	81.3%	298.2	79.5%	5.6%
Metering	72.6	18.7%	77.0	20.5%	-5.7%
Total core sales	387.6	100.0%	375.2	100.0%	3.3%

Core sales are based on the operating figures.

(Euro millions)	Q4 2022	%	Q4 2021	%	diff %
Heating	80.2	79.1%	77.3	83.7%	3.7%
Metering	21.2	20.9%	15.0	16.3%	41.3%
Total core sales	101.4	100.0%	92.3	100.0%	9.8%

Core sales are based on the operating figures.

Declaration of the executive officer for financial reporting

The manager responsible for the preparation of the Company’s accounts, Paul Fogolin, hereby declares, as per article 154-bis, paragraph 2, of the “Testo Unico della Finanza”, that to the best of his knowledge, all information  related to the Company’s accounts contained in this press release fairly represent the accounts and the books of the Company.