SIT’s first half results see overall revenue growth continue despite the expected continued slowdown in gas metering sales in Italy. Both heating and water metering have continued to grow strongly. EBITDA margin has dropped with higher transport and logistic costs but key component and raw material costs have been passed on. With the top end of full-year guidance reiterated, we see the company managing well in a volatile and uncertain market.
05 Aug 2022
SIT - Sales Still Up Despite Metering Decline
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SIT - Sales Still Up Despite Metering Decline
SIT’s first half results see overall revenue growth continue despite the expected continued slowdown in gas metering sales in Italy. Both heating and water metering have continued to grow strongly. EBITDA margin has dropped with higher transport and logistic costs but key component and raw material costs have been passed on. With the top end of full-year guidance reiterated, we see the company managing well in a volatile and uncertain market.