At COP26 the hydrogen meter made by SIT. CEO Federico de’ Stefani: “We need to work together to accelerate decarbonization”

November 8th, 2021 Posted by Marco Travaglio Tutte, Homepage 0 thoughts on “At COP26 the hydrogen meter made by SIT. CEO Federico de’ Stefani: “We need to work together to accelerate decarbonization””

Glasgow, November 8, 2021 – “Using hydrogen at the post of gas is a virtuous behavior because green hydrogen is sustainable”. It starts with these word by Federico de’ Stefani, CEO of SIT, a video of the Department for Business, Energy and Industrial Strategy (BEIS – Department for Business, Energy and Industrial Strategy) of the UK government which is currently being broadcasted at COP26 – the United Nations conference on climate change that is taking place in Glasgow – together with the hydrogen meter developed by MeteRSit, a company of the group, called DomusNext® MMU6 H2. The video reports the experience of SIT as a company that anticipated the production of gas meters that could also work with hydrogen. “Our commitment was to develop meters that were hydrogen-ready – underlines de ‘Stefani in the video – as well as for boilers: when hydrogen will be available the certified installer will be able with a very simple, short intervention to switch from the use of natural gas to hydrogen. The cost for hydrogen devices will be very similar to gas ones and nothing will change for the user. In the hydrogen supply chain the residential use of hydrogen is the only ready to be employed: whether there is still work to do about the generation and the transportation of hydrogen, we are ready with appliances that make the use of hydrogen safe for residential use. What will change for the users are the benefits, as they will become part of the “hydrogen revolution”, actively contributing to a more sustainable world”.

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SIT takes part in the ENLIT Europe fair from 30 November to 2 December 2021 with its Metering division

October 22nd, 2021 Posted by Marco Travaglio Tutte, Homepage 0 thoughts on “SIT takes part in the ENLIT Europe fair from 30 November to 2 December 2021 with its Metering division”

MeteRSit (smart gas meters) and JANZ (water meters), will take part in the ENLIT Europe fair in Milan at the Fiera di Rho, from 30 November to 2 December 2021.

Enlit Europe is one of the largest trade fairs-conferences in the energy sector, where issues concerning the future of energy such as the energy transition, decarbonisation, energy resilience and digitalisation find ample space.

The official website of the event:

https://www.enlit-europe.com/

SIT is attending the ISMO – Italian Stock Market Opportunities 2021

September 24th, 2021 Posted by Marco Travaglio Homepage 0 thoughts on “SIT is attending the ISMO – Italian Stock Market Opportunities 2021”

Padua, September 24, 2021 – SIT S.p.A. (SIT:IM), a multinational listed on the Italian Stock Exchange that creates intelligent solutions for the control of environmental conditions and consumption measurement, on September 30 is attending ISMO (Italian Stock Market Opportunity), a virtual conference organized by Banca IMI to dialogue with institutional investors, both Italian and international.

CEO and Chairman Federico de’ Stefani together with the CFO Paul Fogolin and IR Manager Mara Di Giorgio, will comment on the recently approved first-half results and the company’s projects.

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SIT, EBITDA up 91%, net profit of Euro 9.5 million: sales improve across all regions

September 23rd, 2021 Posted by Marco Travaglio Homepage 0 thoughts on “SIT, EBITDA up 91%, net profit of Euro 9.5 million: sales improve across all regions”

Federico de’ Stefani (CEO and Chairman): “Results ahead of expectations. Quality, brand and reputation also in the current market have rewarded SIT’s products.”

SIT in H1 2021 returned:

Consolidated revenues of Euro 190.3 million (+42.7% on H1 2020, +34.8% at like-for-like consolidation scope);
Heating Division sales of Euro 144.7 million (+38.3% on H1 2020);
Metering Division sales of Euro 43.2 million (+59.0% on H1 2020), including Smart Gas
Metering sales of Euro 33.2 million and Water Metering sales of Euro 9.9 million;
Consolidated EBITDA of Euro 28.9 million (+90.6% on H1 2020);
The net profit for the period was Euro 9.5 million (5.0% margin), compared to Euro 3.8 million
(2.9% margin) in H1 2020.
Operating cash flow of Euro 6.2 million, after investments of Euro 8.0 million;
Net financial position at June 30, 2021 of Euro 121.0 million (Euro 116.1 million at end of
2020).

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SIT closes the acquisition of the product line NGA from Emerson Electric

September 1st, 2021 Posted by Marco Travaglio Homepage 0 thoughts on “SIT closes the acquisition of the product line NGA from Emerson Electric”

Transaction executed according to the timeframe announced at the signing. SIT widens its product portfolio to include electronic valves for gas storage water heaters

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UK HYDROGEN STRATEGY ANNOUNCED

August 31st, 2021 Posted by Marco Travaglio Tutte, Homepage 0 thoughts on “UK HYDROGEN STRATEGY ANNOUNCED”

The UK government has announced its long awaited hydrogen strategy and also launched a consultation on funding hydrogen production. The strategy confirms support for both green and blue hydrogen production as well as for the replacement of natural gas in around 3m homes…

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SIT acquires the NGA product line from Emerson Electric and enters the market for electronic valves for storage water heaters.

July 16th, 2021 Posted by Marco Travaglio Homepage 0 thoughts on “SIT acquires the NGA product line from Emerson Electric and enters the market for electronic valves for storage water heaters.”

SIT acquires the NGA product line from Emerson Electric and enters the market for electronic valves for storage water heaters.

Federico de’ Stefani (Chairman and CEO of SIT): “Our goal is to accelerate growth in the US market”.

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SIT takes part in the HPB Expo from 24 to 26 June 2021

June 23rd, 2021 Posted by Marco Travaglio Homepage 0 thoughts on “SIT takes part in the HPB Expo from 24 to 26 June 2021”

Padova, 2021 June 23 – SIT, a technology company listed on the MTA market of the Italian Stock Exchange (SIT:IM) that creates smart solutions for controlling environmental conditions and measuring consumption, will be present from 24 to 26 June 2021 at Hpbexpo, the largest indoor-outdoor event in North America, in virtual mode. Every year thousands of retailers and companies participate in the event to discover new trends and technologies related to the production and sale of fireplaces, patio heaters, wood / pellet / gas and electric stoves, accessories for barbecues, grills and garden furniture.

For the occasion, SIT will be able to meet customers and visitors in its virtual booth, which can only be accessed after registering for the event.

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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 Posted by Marco Travaglio Tutte, Homepage 0 thoughts on “SIT, performance significantly improved in Q1: consolidated revenues of Euro 92.7 million (+26% on Q1 2020), EBITDA +69% to Euro 15.1 million.”

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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SIT S.p.A., roadshow with Longspur on May 4 and 5: two days of meetings with UK investors

May 3rd, 2021 Posted by Marco Travaglio Tutte, Homepage 0 thoughts on “SIT S.p.A., roadshow with Longspur on May 4 and 5: two days of meetings with UK investors”

Padua, May 3, 2021 – SIT S.p.A. (SIT:IM), a multinational listed on the Italian Stock Exchange that creates intelligent solutions for the control of environmental conditions and consumption measurement, on May 4 and 5 is taking part in the roadshow organized by Longspur to dialogue with British institutional investors. Longspur published on April 22 the initial coverage of SIT (available here) indicating a Euro 11,5 target price stressing the positioning of the company as world market leader, the great opportunity deriving from the acquisition in the water sector and the upside coming from the starting of the “hydrogen economy”. In fact, for the first hydrogen houses that are being built in the United Kingdom, MeteRSIT, a SIT Group company that develops and manufactures intelligent gas meters and which is working on an experimental hydrogen gas meter as part of the British government’s Hy4Heat programme, was chosen from among producers of meters that will enable the safe distribution of hydrogen. This was thanks to the DomusNext® H2 meter that allows consumption data reading. Also installed in the houses are Worcester Bosch hydrogen boilers that use hydrogen power safety valves developed by SIT.

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