SITI B&T Group: Growth in turnover and profits in 2015

The recent stock market listing of SITI B&T Group (Formigine, Italy), since 31 March launched on the AIM Italia segment of the Italian stock market, was facilitated by the group’s strong performance in 2015.

More specifically, the consolidated financial statements for 2015 reported a value of production of 182.6 million euros (11.1% up on the 164.3 million euros of 2014). This result was largely attributable to new products developed as part of the group’s R&D activities. Sales revenues grew from 159.3 million euros in 2014 to 171.5 million euros (+7.6%). Around 80% of this derived from exports.

Margins showed a particularly strong improvement. Consolidated EBITDA rose by 52%, from 11.3 million euros in 2014 (7.1% of turnover) to 17.3 million euros (10.1% of sales revenues). Consolidated EBIT almost doubled, reaching 13.1 million euros compared to 7.4 million euros in 2014 (+76%), while overall consolidated net profits amounted to 7.3 million euros, an increase compared to the previous year’s 3.6 million euros. The group closed 2015 with a consolidated net financial position of 36.5 million euros (compared to 38.7 million euros in 2014).