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SIT, performance significantly improved in Q1: consolidated revenues of Euro 92.7 million (+26% on Q1 2020), EBITDA +69% to Euro 15.1 million.

May 12th, 2021

CEO Federico de’ Stefani: “We have introduced a share-based incentive plan to strengthen the relationship between governance and management in order to create sustainable value for the entire organisation and ensure that we attract and retain key resources.”

SIT for Q1 2021 reports:

  • Consolidated revenues of Euro 92.7 million (+26.2% on Q1 2020);
  • Heating Division sales of Euro 70.5 million (+25.0% on Q1 2020);
  • Metering Division sales of Euro 21.3 million (+30.0% on Q1 2020), including Smart GasMetering sales for Euro 16.4 million and Water Metering sales for Euro 4.8 million;
  • Consolidated EBITDA of Euro 15.1 million (+69.0% on Q1 2020);
  • Consolidated net profit of Euro 8.0 million (8.6% margin);
  • Net financial position at March 31, 2021 of Euro 110.4 million (Euro 101.6 million in Q1 2020).
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