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SIT BRINGS ITS LABORATORIES TO ISH IN FRANKFURT

März 13th, 2025

Chillventa is the leading event in Europe for the heat pump sector, as well as for HVAC, refrigeration, ventilation solutions and air conditioning for commercial and industrial applications. It takes place every two years in Nuremberg, Germany. SIT will be hosted at the Panasonic Industry booth.

Padua, October 4th, 2024 – SIT will be attending Chillventa for the first time from October 8th to 10th in Nuremberg. The publicly traded multinational will participate in the leading event for the heat pump sector alongside Panasonic Industry, being hosted at the Panasonic booth for the occasion. At Chillventa, SIT will showcase the whisperTECH450 fan for residential heat pumps, developed in synergy with Panasonic Industry and previewed a few months ago at the MCE trade fair. The new application will be available in various configurations to meet the specific needs of each heat pump manufacturer, ensuring optimal performance, minimal noise, and compatibility with all refrigerants, including R290. The distribution of the integrated motor-fan system will be managed by SIT and will be available starting from early 2025.

In the days leading up to the event, the SIT Heating & Ventilation division team, along with CEO Federico de’ Stefani, will be hosted by Panasonic Industry at the company’s European headquarters in Ottobrunn, Germany.

Walter Albè, Head of the Heating & Ventilation Business Unit at SIT, states: “Our participation in Chillventa is important because it places us physically in the top of mind of heat pump manufacturers attending the event, and it provides the opportunity to meet with both existing and potential clients. Just one year after the presentation of whisperTECH450 at MCE in Milan, we are meeting industry operators at another international event with a product dedicated to the residential HVAC market, the result of a strong and effective collaboration. The message we want to convey is that SIT has entered this market with a product ready to go into production starting in 2025, and we aim to contribute by supporting customers through the transition the HVAC sector is facing. Chillventa also gives us the opportunity to further strengthen our relationship with our partner Panasonic Industry, especially in light of possible future product developments.”

In brief: SIT will be attending Chillventa 2024 (October 8-10) in Nuremberg, at the Panasonic Industry booth located in Hall 4 / Stand Number 4-362.

MAJOR INTERNATIONAL CONTRACT FOR THE SIT GROUP: THE SUBSIDIARY JANZ WILL SUPPLY AROUND 100 THOUSAND RESIDENTIAL SMART WATER METERS FOR A VALUE OF ABOUT 6,1 MILLION EURO

Oktober 15th, 2024

In the tender, which has a total value of 13 million Euro, JANZ participated together with a consortium of companies.
JANZ will supply 99,600 smart water meters, of which 80,000 will be delivered in the next three years.

Padua/Lisbon, October 15, 2024 – JANZ, SIT group’s subsidiary specialized in the production of smart water meters, announces that it has won a public tender for the foreign supply of 99,600 smart water meters. Of these, 80,000 meters will be delivered in the next three years. Through this operation, the city beneficiary of the supply will be able to install JANZ’s water meters for 75% of its customer base.
The overall value of the contract is 13 million Euro; the amount of competence of JANZ is about 6,1 million Euro (approximately 50% of the total). JANZ’s water meters, object of the contract, are smart, meaning that they report readings and send alarms on demand, allowing for a very high degree of precision in measuring the natural resource. The type of volumetric meter comes with the ‘LoRA’ add-on, complete with the MyWater software for remote management of consumption data.
Gianpaolo Anselmi, head of the business unit “Water Metering” of SIT group, stated: “For JANZ the awarding of this contract is the result of a development effort that has been underway for some time, in a new European market that is very promising for us. The need to improve the communication infrastructures of utilities is felt in many countries and is part of the sustainable development goals of the 2030 Agenda. As SIT, we wish that this contract could be the start of a series that will continue to position SIT group as a reference point in the international water metering market”.

SIT WILL ATTEND THE CHILLVENTA TRADE FAIR FOR THE FIRST TIME FROM OCTOBER 8TH TO 10TH IN COLLABORATION WITH PANASONIC INDUSTRY. ON DISPLAY WILL BE THE WHISPERTECH450 FAN FOR RESIDENTIAL HEAT PUMPS.

Oktober 15th, 2024

Chillventa is the leading event in Europe for the heat pump sector, as well as for HVAC, refrigeration, ventilation solutions and air conditioning for commercial and industrial applications. It takes place every two years in Nuremberg, Germany. SIT will be hosted at the Panasonic Industry booth.

Padua, October 4th, 2024 – SIT will be attending Chillventa for the first time from October 8th to 10th in Nuremberg. The publicly traded multinational will participate in the leading event for the heat pump sector alongside Panasonic Industry, being hosted at the Panasonic booth for the occasion. At Chillventa, SIT will showcase the whisperTECH450 fan for residential heat pumps, developed in synergy with Panasonic Industry and previewed a few months ago at the MCE trade fair. The new application will be available in various configurations to meet the specific needs of each heat pump manufacturer, ensuring optimal performance, minimal noise, and compatibility with all refrigerants, including R290. The distribution of the integrated motor-fan system will be managed by SIT and will be available starting from early 2025.

In the days leading up to the event, the SIT Heating & Ventilation division team, along with CEO Federico de’ Stefani, will be hosted by Panasonic Industry at the company’s European headquarters in Ottobrunn, Germany.

Walter Albè, Head of the Heating & Ventilation Business Unit at SIT, states: “Our participation in Chillventa is important because it places us physically in the top of mind of heat pump manufacturers attending the event, and it provides the opportunity to meet with both existing and potential clients. Just one year after the presentation of whisperTECH450 at MCE in Milan, we are meeting industry operators at another international event with a product dedicated to the residential HVAC market, the result of a strong and effective collaboration. The message we want to convey is that SIT has entered this market with a product ready to go into production starting in 2025, and we aim to contribute by supporting customers through the transition the HVAC sector is facing. Chillventa also gives us the opportunity to further strengthen our relationship with our partner Panasonic Industry, especially in light of possible future product developments.”

In brief: SIT will be attending Chillventa 2024 (October 8-10) in Nuremberg, at the Panasonic Industry booth located in Hall 4 / Stand Number 4-362.

Metering, the SmartIO ultrasonic water meter by SIT obtains the MiD certification. It certifies its extreme measurement accuracy

Juni 26th, 2024

Padua/Lisbon, June 26, 2024 – SIT, a multinational listed on the Euronext Milan segment that creates intelligent solutions for the control of environmental conditions and for measuring consumption, has obtained, through its subsidiary JANZ, the MID – Measuring Instrument Directive – certification for the SmartIO ultrasonic residential water meter, with the highest precision in the market (R1000). The MID certificate is valid in Europe and the UK but also recognized in other non-EU countries and guarantees the accuracy and reliability of the measuring instrument (the meter).

“The certification certifies that SmartIO can essentially count every single drop of water – underlined Gianpaolo Anselmi, head of the Water Metering business unit of the SIT group – “the measurement capacity is historically a strong point of SIT, and it is extremely important because contributes to the management and sustainable use of the natural resource. In Italy around 40% of water losses (double the European percentage) is also caused by an obsolete water network; to improve this aspect a better infrastructure is needed, and with an accurate meter consumers can already do a lot to avoid wasting water”.

The precedents – SIT obtained MiD certification in 2021 for the Domusnext® 2.0 residential meter (the first in the world to obtain it) running on 100% hydrogen. In 2022 the same certification was also recognized for the Domusnext® 2.0 hydrogen commercial meter. Both meters have also obtained the digital security certification – CPA (Commercial Product Assurance) – issued by the British cyber security agency NCSC (National Cyber Security Centre).

SmartIO: the details – SmartIO was first presented at Enlit Europe in November 2023. It uses patented and innovative technology and maintains a high level of accuracy (up to R1000) throughout the product life cycle, with low maintenance costs. Thanks to IoT technology, the meter uses the proprietary MyWater software, concretely contributing to reducing water losses. SmartIO’s first target is utilities in the Italian and international markets.

Water Metering: the Italian market – According to data from the MeteRSit research office, in just one year (from August 2022 to September 2023) 29 tenders were called in Italy in the Water Metering market for a total value of approximately 250 million Euros. The replacement of mechanical meters with smart devices is not currently mandatory; however, it is still important and necessary. Equally key to the “smartization” of the network is the use of so-called “ultrasonic” measurement technology. This technology, which is the natural smart static evolution of mechanical water meters, can alone make a decisive contribution to reducing water waste while increasing awareness on the part of the end consumer and allowing water utilities to identify losses promptly. Currently, in Italy, SIT believes that only around 17% of installed water meters (3.5 million out of a total of around 21 million) are smart.

SIT wins the Marisa Bellisario Award as “Work-Life Balance Friendly Company”

Juni 12th, 2024
Padua/Rome, 12 June 2024 – SIT, a multinational listed on the Euronext Milan segment of the Italian Stock Exchange that creates intelligent solutions for climate control and consumption measurement, has received the prestigious award “Work-Life Balance Friendly Company” established by the Marisa Bellisario Foundation in collaboration with Confindustria, now in its eighth edition. The award – the iconic Golden Apple – will be delivered to the President and CEO of SIT, Federico de’ Stefani, during the awards ceremony of the 36th edition of the Marisa Bellisario Prize which will be held on Friday 14 June 2024 at the Colosseum Park in Rome.

The award is aimed at large companies that have distinguished themselves in the field of gender equality and in enhancing the role of women in the company and the economy, implementing concrete and innovative policies. The Award Commission, chaired by Gianni Letta and with the participation, together with the President of the Bellisario Foundation Lella Golfo, of representatives of Confindustria and the worlds of economy, institutions, and information, examined the numerous applications received and proclaimed SIT the winner.

“We are extremely proud to receive this significant award from the Marisa Bellisario Foundation and Confindustria”, declared Federico de’ Stefani, a second-generation entrepreneur at the helm of the SIT group. “In SIT, innovation and gender equality go hand in hand: 57% of our collaborators are women, and we have many measures to support employee well-being, work-life balance, and support for talent and the communities where we are present. Putting our colleagues in a position to express their potential is a strategic goal, an essential element at the basis of a unique and non-replicable corporate culture”.

ESG: according to EcoVadis, SIT is Gold, ranking among the top 2% of the most sustainable companies in the world

Mai 8th, 2024

Padua, May 8 2024 – SIT is among the leading companies in terms of sustainability. This is confirmed by the achievement of the EcoVadis Gold rating, which includes only the top 5% of companies globally, a percentage that narrows to 2% considering that the group led by CEO Federico de’ Stefani ranks in the 98th percentile of companies evaluated by EcoVadis, the foremost international firm for the evaluation of corporate social responsibility (involving more than 130,000 companies). With an overall score of 77/100 (an improvement of 14 points from the previous year), the level of sustainability performance has been judged as ‘advanced’. In detail, SIT group scored 80/100 in the ‘Environment’ and ‘Labour Practices and Human Rights’ categories, and 90/100 in the ‘Sustainable Procurement’ category—results that place SIT in the top 1% of the most sustainable companies in its sector of activity.

 

Chiara de’ Stefani, Corporate Sustainability Director at SIT, stated: “In a high-level international context, it is with pride that we receive the Gold rating from EcoVadis, marking the culmination of the journey we have embarked upon and the perseverance in achieving the goals set out in our Sustainability Plan – Made to Matter. This acknowledgement is a further confirmation of our visionary capacity and the strength to pursue change, particularly during a transition period like 2023. It thus demonstrates that SIT is a benchmark in Sustainability management, at the heart of transforming an entire sector towards products, processes and innovation necessary for achieving the green goals which are fundamental to the energy and ecological transition. We are recognised as the reference partner for creating solutions for energy efficiency and the protection of natural resources. For us, environment, rights, and sustainability are not just words; they are a daily commitment’.

SIT S.p.A., 2023 consolidated revenues exceed Euro 326 million

April 24th, 2024

Highlights

SIT S.p.A., 2023 consolidated revenues exceed Euro 326 million

Vibrant Metering division growth (+22.2%)

In 2023, SIT returned:

  • ●  Consolidated revenues of Euro 326.3 million (-17.0% on 2022);
  • ●  Heating & Ventilation Division sales of Euro 234.0 million (-25.8% on 2022);
  • ●  Metering Division Sales of Euro 88.6 million (+22.2% on the previous year), of which Smart

    Gas Metering sales of Euro 60.0 million (+24.0%) and Water Metering sales of Euro 28.6

    million (+18.5%);

  • ●  Consolidated adjusted EBITDA of Euro 29.0 million (-38.5% on 2022).
  • ●  Consolidated adjusted net result reports a loss of Euro 0.3 million (adjusted net profit of

    Euro 10.9 million in 2022);

  • ●  Heating & Ventilation goodwill write-down of Euro 17.0 million on half-year reporting in

    view of sector outlook;

  • ●  Consolidated net result reports a loss of Euro 23.4 million (net profit of Euro 11.2 million in

    2022);

  • ●  Operating cash flow of Euro -14.9 million, after investments of Euro 23.0 million;
  • ●  Net Financial Position of Euro 153.7 million, compared to Euro 130.5 million at December

    31, 2022.

    The Q4 2023 results report:

    • ●  Consolidated revenues of Euro 84.2 million (-18.2% on Q4 2022);
    • ●  Heating & Ventilation Division sales of Euro 57.9 million, -28.1% on Q4 2022;
    • ●  Metering Division Sales of Euro 24.7 million (+16.8% on Q4 2022), including Smart Gas

      Metering sales of Euro 15.5 million (+1.0%) and Water Metering sales of Euro 9.1 million (+58.7%).

      The renegotiation with the main lenders has been completed in the context of which the majority shareholder Technologies S.A.P.A. of F.D.S. S.S. provided a shareholder loan of Euro 5 million.

SIT a MCE Expocomfort con soluzioni per il riscaldamento residenziale elettrico, la ventilazione meccanica e la combustione

März 11th, 2024

SIT aims to grow in the cooker hoods market with a dedicated joint venture: SIT MBT is born

Dezember 14th, 2023

• The European market for cooker hoods (annual installations of about 8 million1 units) is expected to accelerate due to the upgrade of EU energy labels that will take effect January 1, 2025.

• The technological discontinuity will be an opportunity for SIT: all manufacturers of hoods, induction hobs and kitchens will have to adapt their products to comply with the new legislation.

• The production and competence centre of SIT MBT will be in Italy, in the Montecassiano factory in the heart of the hood and kitchen district in the Marche region.

• The operation is strategic for SIT and constitutes a further development in electrification. In fact, SIT plans to realize about 30 percent of future revenues in the Ventilation business.

Padua, December 14, 2023 – SIT continues its strategic development path in electrification. A few weeks after the announcement of the partnership with Panasonic and the entry into the heat pump market, the multinational world leader in Heating & Ventilation has created a Joint Venture dedicated to the cooker hoods market. This is a strategic industrial operation: SIT MBT aims to position itself as a European leader in the design and production of fans for cooker hoods, for induction hobs and pellet stoves through the development of innovative, highly energy efficient products and their customization to the specific needs of customers, thanks to the technological expertise of the Montecassiano centre of excellence.

Objectives – The primary objective of the JV is to promptly seize the opportunities that will emerge in the coming months linked, in particular, to the entry into effect, starting from the beginning of 2025, of the new European legislation on energy labels for cooker hoods and extractor hobs for kitchens. The new company wants to establish itself in the Italian and European market as an independent player with a historic track record, a recognized and reliable management team, an R&D competence centre of excellence and production in Italy, in the Marche region, at the heart of the hoods and kitchens district, in order to give qualified technological support to the most important European manufacturers of cooker hoods and extractor hobs.

Structure – The Joint Venture called “SIT-MBT Srl” will include the spin-off of the SIT SpA business segment dedicated to ventilation and components for hoods and pellets, and 100% of the innovative start-up Motors & Blowers Technology Srl (MBT), based in the province of Ancona, started by Gian Luca Uncini and Riccardo Massili, established and recognized managers with long experience in the Ventilation sector and in particular in the cooker hoods segment. Complets the structure of the JV is

1 2021 figures, source: CSIL 2022, Euromonitor, GFK.

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PRESS RELEASE

the presence of Wentelon2, supplier partner of motors for ventilation, which, with its state-of-the- art Chinese factories, will ensure technology and competitiveness for SIT MBT.

SIT MBT will be owned by SIT for 70% and by Wentelon and the managers for the remaining 30%.

In particular, SIT SpA brings to the JV an established business and the group’s historic production plant in Montecassiano (Macerata) which will become the Centre of Excellence of SIT MBT combining design, R&D, innovation and production activities, with an overall team of approximately 35 people. The factory is equipped with tested laboratories, with certified semi- anechoic chamber, already active production lines, technical skills and trained professionals.

Relations with the reference market will be strengthened thanks to the entry of Gian Luca Uncini, who will take on the role of Commercial Director, and Riccardo Massili as Technical Director. Uncini and Massili will manage a structure ready to offer technological innovation and customized products, as well as a lean, responsive and fast organization to quickly adapt to the changing needs of the European market.

Federico de’ Stefani, Chairman and CEO of SIT SpA, stated: “In our strategic plan, an important driver for growth is the entry into the heat pump market and the further development of our position in Ventilation. In just a few weeks, we have achieved these two goals with great satisfaction, first with through the partnership with Panasonic, and now with the SIT MBT operation that I have the pleasure of announcing today. The cooker hoods market represents an important pillar of the group’s diversification within the Ventilation business, which now also has a position at an organizational level, alongside the Heating business, precisely in view of the opportunities it can seize in the short to medium term. Therefore, SIT MBT fits into a well-outlined roadmap whose development stages will contribute to SIT’s future growth”.

Walter Albè, Head of Business Unit Heating & Ventilation of SIT, added: “We are ready to seize the momentum that will arise in the market following the technological discontinuity caused by the transition towards the more stringent energy efficiency requirements defined by the ECOlabelling regulation which will come into force from January 1, 2025. We are already in contact with manufacturers and customers to whom we are presenting the broad portfolio of high-efficiency, custom products we are developing and our dedicated service and support team, which is central to a phase of regulatory and technological change. We are, therefore, presenting ourselves to the market as an independent operator already positioned to be the technological point of reference for industry players”.

SIT unveils the “SmartIO” ultrasonic residential water meter for the European market at Enlit Europe

November 28th, 2023

In Paris the group will present for the first time the new product resulting from the collaboration between the subsidiary JANZ and the technological partner GWF

Padua, November 27, 2023 – JANZ, a SIT company, leader in Water Metering, arrives at Enlit Europe – an event that involves representatives of utilities, network operators, suppliers, consultants, and start-ups from the energy supply chain, both conventional and renewable – with SmartIO, the new smart water meter for residential applications that uses ultrasonic technology and “best in class” measurement capacity, developed in joint venture with GWF.

SmartIO is the answer to a global problem of efficient management of water resources and is part of a sector that is expected to grow in Italy, driven by the replacement of installed meters with smart devices. According to a recent analysis by the MeteRSit (also a SIT company) marketing team, in just one year in Italy in the Water Metering market 29 tenders were announced for a total value of approximately 250 million Euro.

The replacement of mechanical meters with smart devices is not currently mandatory but still important and necessary, given that in Italy around 40% of water waste (double the European percentage) is also caused by an obsolete water network. The Italian NRRP (National Recovery and Resilience Plan) plays a central role in this modernization, with 900 million Euro allocated for projects to reduce leaks in water distribution networks, including digitalization and monitoring of the networks. Equally key to the “smartization” of the network is the use of so-called “ultrasonic” measurement technology. This technology, which is the natural smart static evolution of mechanical water meters, can alone make a decisive contribution to reducing waste, while increasing awareness on the part of the end consumer and allowing energy operators to promptly identify leaks.

SmartIO: the details – SmartIO uses patented, innovative technology and maintains a high level of accuracy (up to R1000) throughout the product lifecycle, with low maintenance costs. Thanks to IoT technology, the meter “integrates” with Janz’s MyWater software, effectively contributing to reducing water waste.

The first target of SmartIO will be utilities, both in the Iberian market and in the Italian market, where it will be marketed through MeteRSit, a SIT company leader in Smart Gas Metering. In addition to these two main markets, SmartIO is also aimed at utilities in other European countries and completes the range of products for Water Metering, which already includes “eRegister”, a fully integrated meter that combines volumetric metrology with communication technology and “add-on radio module” which, applied to traditional JANZ mechanical meters, allows the measurement to be communicated, effectively transforming them into smart meters.

As regards smart gas meters, MeteRSit will present at Enlit Europe the new version of the Thermomassico G4 static meter with double Nb-Iot and 169MHz communication channel, born from the collaboration with a well-known Italian gas distributor.

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