SIT Q1 Report 2022

SIT S.P.A., CONSOLIDATED REVENUES IN Q1 RISE TO EURO 93.8 MILLION

SIT for Q1 2022 reports:

• Consolidated revenues of Euro 93.8 million (+1.2% on Q1 2021);
• Heating Division sales of Euro 76.1 million (+7.9% on Q1 2021);
• Metering Division sales of Euro 16.5 million (-22.2% on Q1 2021), including Smart Gas Metering sales of Euro 10.3 million and Water Metering sales of Euro 6.2 million;
• Consolidated EBITDA of Euro 14.7 million (15.6% margin), compared to Euro 15.1 million in Q1 2021 (16.2% margin);
• Consolidated net profit of Euro 12.4 million (13.2% margin), +59.8% on Q1 2021;
• Net financial position at March 31, 2022 of Euro 124.8 million (Euro 110.6 million in Q1 2021).

The impact of volumes is negative for Euro 0.5 million, while the net contribution of prices is positive for Euro 1.9 million, as the increased cost of components and raw materials was transferred to the market. Operating costs increased Euro 3.2 million, particularly due to the impact of logistics and transport costs and increased R&D and production costs. Exchange gains of Euro 1.1 million were reported.