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.
