SITI-B&T Group posts 8.4% revenue growth in 2017
SITI-B&T Group, a manufacturer of complete plants for the ceramic industry listed on the AIM Italia stock market, closed the 2017 business year with consolidated revenues of 203.3 million euros, 8.4% up on 2016. EBITDA also rose by 6.7% to 18.1 million euros, 8.9% of sales revenues. Consolidated EBIT amounted to 11.1 million euros. R&D investments grew to 7.1 million euros in 2017, an all-time record.
As part of its constant efforts to develop innovative technologies, the Formigine, Modena-based group has registered 15 new patents, which join the 147 it already owned. Commenting on the results, SITI-B&T Group’s Chairman and CEO Fabio Tarozzi noted that the group continued its successful growth and development in 2017 by fully exploiting synergies between the individual companies. “We have successfully brought together a set of skills of great value and are able to deliver technologies and professionalism that are unique anywhere in the world in terms of their completeness and innovative spirit,” he said.
Amongst the group member companies, the subsidiary Ancora (acquired in February 2015) posted highly positive results, including a surge in both sales volumes and profit margin. 2017 revenues reached 32.4 million euros (+27.2%), while net profit rose by 43% on 2016 to 1.6 million euros, and EBITDA totalled 4.1 million euros, 12.8% of revenues. The excellent performance of Ancora, which specialises in finishing lines for ceramic tiles and slabs, was mainly driven by strong demand in the Italian market, which accounted for 45% of the company’s sales.
The group also saw growth in demand for Titanium kilns, one of its flagship technologies which for two years has set industry standards in terms of low energy consumption and environmental emissions. Other very popular solutions include the offerings of Projecta Engineering (especially EvoDRYFIX, the first digital printer which combines drop-on-demand inkjet technology with dry grit technology) and Digital Design in the field of design and implementation of digital graphics for designer surfaces.