SITI B&T Group reports growth results

SITI B&T Group reported excellent results in 2013. Consolidated revenues totalled 173 million euro (14.5% up on the previous year), maintaining the growth trend that has seen the Group's consolidated turnover rise by 75.7% since 2010.

Profit margins also rose, with EBITDA up 17% to 12.1% of turnover and EBIT up by 28.9% compared to 2012. Pre-tax profits doubled with respect to the previous year to reach 11.8 million euros.

The Group's net financial position also improved by 22.7 million euros, partly due to a sharp reduction in net working capital.

The turnover results and the improvement in profit margins enabled the board of directors to approve an ambitious investment programme - more than 5 million euros in 2014  alone - aimed at internationalisation and research into new machines with greater energy efficiency and production lines for large-format ceramic panels.

"This performance demonstrates yet again that the Group is in an excellent state of health," commented SITI B&T Group's managing director Fabio Tarozzi. "It confirms that we are going in the right direction and can look to the future with great confidence, building on the expertise, determination and decisions that have brought us to where we are today. The 2013 financial results will sustain the cost of new technologies, investments in production capacity and the opening of new branches abroad."

SITI B&T invests 3% of its turnover in research and development and reported an export share of more than 80% last year.

Internationalisation and innovation remain key elements of the Group's growth strategy.

The large-scale investments in new products made in 2013 have maintained a strong focus on environmental aspects and energy consumption.

The Ceramics division developed environmentally friendly thermal machines that cut fuel costs by up to 30%; completely renewed EVO presses with solutions to increase productivity and quality; and latest-generation EVOlve digital machines for large tile formats to be used on the decoration line (EVOcore, EVOMoving, EVOdryfix), developed by Projecta Engineering of Fiorano.

The Sanitaryware division stands out for its innovative range of Circle and Cubic presses for high-pressure casting as well as the exclusive technologies of the new resin mould production department, installed at the facilities of the world's leading producers.

The Robotics division, consisting of the brands SIR (Soluzioni Industriali Robotizzate, based in Modena) and B&T Automation, has reported 26% turnover growth as a result of highly-automatic customised solutions for leading international companies in both the western world and emerging countries.

Customer Service has consolidated its volumes following the development of an international service network, including the opening of branches in India and Indonesia and forthcoming openings in the United States, Germany, Egypt and Brazil.

The countdown has also begun to the opening of the new "Eco Friendly Factory" at Gaoming in China, a high energy efficiency factory for the production of top quality technologies for the large Asian markets.