2020 started off (really) well for SICIT: circularity has taken off. The Arzignano-based company closed its first quarter of 2020 with revenue at 19.7 million euro, up 25.6% in comparison to the 15.7 million of 2019’s first quarter. All products performed better, as did all markets. The increment in the Asia-Pacific area was of +40.2%. Circularity has taken off.
The revenue increment is a direct consequence of the good performance of the bio-stimulants for the agriculture sector, that of retardants for the plaster one and animal fat for the production of combustible products. In the first case, revenue reached 12.1 million euro: +29.9%. In the second it was of 4.3 million euro, up by 19.6%. While in the third instance the unit reached 2.1 million euro, or +27.3%.
Good performances all over
All main geographic areas improved. Europe (including Italy) reached 12.1 million euro, against the 9.7 of the previous year’s quarter (+25.1%). The Americas’ revenue was of 1.7 million, against the 1.5 of 2019 (+13.9%). Asia-Pacific scored 4.5 million euro, against the 3.2 million of the previous period (+40.2%). The only region that recorded losses was that of Middle East and Africa, down to 0.4 million from the 0.5 million of 2019.
“We are quite satisfied”, commented Alessandro Paterniani, commercial director of SICIT Group, as he continues to explain that “part of the increment” could be attributed to the earlier purchases made due to the potential “shortage effect” created by the Coronavirus. Still, the company believes that the level of interest in its products is in a substantially positive trend, more so for bio-stimulants. “Even during this period of economic uncertainty, the responses received from our clients bring us comfort, as we are sure we can reach our 2020 economic and financial targets”.