Home > Archive > Price sensitive press releases > SIT S.P.A. APPROVES 2020 RESULTS AND PROPOSES TO SHAREHOLDERS’ MEETING A DIVIDEND OF EURO 0.28 PER SHARE

SIT S.P.A. APPROVES 2020 RESULTS AND PROPOSES TO SHAREHOLDERS’ MEETING A DIVIDEND OF EURO 0.28 PER SHARE

SIT reports for Q4 2020:

  • Consolidated revenues of Euro 93.8 million (+4.9% on Q4 2019);
  • Heating Division sales of Euro 74.7 million (+7.8% on Q4 2019);
  • Smart Gas Metering Division sales of Euro 18.1 million (-5.5% on Q4 2019);
  • Consolidated adjusted EBITDA of Euro 12.2 million, a 13.0% revenue margin (+17.1% on 2019).

The 2020 results report:

  • Consolidated revenues of Euro 320.7 million (-8.9% on 2019);
  • Heating Division sales of Euro 249.0 million (-4.2%, -3.5% at like-for-like exchange rates);
  • Smart Gas Metering Division sales of Euro 68.6 million (-22.6% on 2019);
  • Consolidated adjusted EBITDA of Euro 44.6 million – 13.9% revenue margin (-7.7% on 2019);
  • Adjusted consolidated net profit of Euro 13.4 million (-10.0% on 2019);
  • Net financial position (debt) of Euro 115.8 million (Euro 78.4 million at end of 2019), including acquisition cost of Janz of Euro 29.7 million and IFRS 16 impact of Euro 15.4 million.

*** Padua, March 29, 2021 The Board of Directors of SIT S.p.A., listed on the main market of the Italian Stock Exchange (SIT:IM), in a meeting today presided over by Federico de’ Stefani, the Chairman and Chief Executive Officer, approved the 2020 consolidated results and called the Shareholders’ Meeting for April 29, 2021. “The 2020 results demonstrate SIT’s considerable robustness and ability to react to extraordinary events, such as those which we are currently experiencing. We have managed to contain to a minimum the impacts of the pandemic and at the same time have executed major projects, such as for example entering the water meter sector by acquiring the Portuguese enterprise Janz and developing the new range of Hydrogen-ready products. Water and hydrogen are in fact the main candidates for the ongoing energy transition. From the fourth quarter of 2020, we have experienced high demand for our products, which satisfy emerging demands and global macrotrends in terms of sustainability and energy efficiency. We are therefore very confident that this trend shall continue at least for a significant part of the current year “stated Federico de’ Stefani, Chairman and Chief Executive Officer of SIT S.p.A.

Download (pdf - 389.26 KB)