SITI-B&T Group posts record results in 2016

SITI-B&T Group, a manufacturer of complete plants for the world ceramic industry, closed 2016 with record results as confirmed by the Draft Financial Statement and the Consolidated Financial Statement to 31/12/2016 approved by the group’s board of directors. Value of production amounted to 209 million euros (up 14.3% on 2015), consolidated EBITDA rose to 18.9 million euros (up 9.3% on 2015) and consolidated EBIT reached 14.4 million euros (+9.7%). But the most significant growth was that of consolidated net profits which soared by 33.2% to 9.7 million euros.

The increase in revenues is largely due to higher sales of complete lines for ceramic production. The Formigine-based Group is increasingly establishing itself as a full provider capable of offering cutting-edge technologies for every stage of the production process, a role that has enabled it to secure major contracts from the top world players in the ceramic industry.

Export share stood at more than 80% of turnover, boosted by a constantly expanding international network coupled with large-scale investments in the new Customer Service division aimed at opening new branches and support services, as well as a new original parts warehouse.

The Group has also performed strongly in the domestic market with 14% growth in turnover in Italy. This reflects increasing trust in the Group’s technologies and ever closer cooperation with major client companies in the Sassuolo ceramic cluster.

"2016 was a pivotal year in our Group’s history, not just because of the solid growth we achieved in all the key economic and financial indicators but also because we successfully completed the stock market listing process," said Fabio Tarozzi, Chairman and Managing Director of SITI-B&T Group. "This will enable us to support our growth strategy and continue to invest in innovation and new product development."

SITI B&T Group continues to allocate 4% of its turnover to R&D. In 2016 it presented numerous product innovations focused on Smart Manufacturing, Industry 4.0 and Green technology (including SUPERA^® for the production of large-format panels, Titanium^® XXL kilns and the “jumbo” Multisky Dryer horizontal dryer).

Projecta Engineering and Ancora also reported growth. The latter has successfully completed its first year as part of the Group by expanding its range with the PoliDry dry honing machine, the waterjet cutting machine and the Dry Squaring Speed high-speed dry squaring machine.

The B&T White division also posted strong results in 2016, securing major orders in the sanitaryware sector and developing new high-pressure casting and robotised glazing technologies.