SICIT enjoy a boost in the half year as revenues increase by 9.4%

SICIT enjoy a boost in the half year as revenues increase by 9.4%

SICIT enjoy a boost in the half year. In fact, at the end of the first six months of 2020 the consolidated revenues of the company, headquartered in Arzignano, amounted to 35.5 million euros. They therefore increased by 9.4% compared to the first half-year period of 2019: at that time, they amounted to 32.5 million euros. The company improved its performance in most of the markets. In the Americas, earnings went up by 42.3%, whereas they slightly decreased, therefore going opposite the trend, in the Middle East and in Africa.

SICIT enjoy a boost in the half year

Such rewarding performance was mostly driven by agriculture bio-stimulants growing sales, whose earnings reached 21.7 million euros. That is, +19.4% on annual basis. Yet, by contrast, sales of products for the gypsum industry have been slowing down (-2.1%); likewise, sales of animal fat serving biofuels production have been slightly dropping (-1%).

A lively market

SICIT earnings have been remarkably increasing in all of the most important geographical areas. In Europe (including Italy), revenues reached 19.5 million euros and rose (+3.2%) compared to the first half-year period of 2019: at that time, they amounted to 18.9 million euros. In the Americas, earnings reached 4.3 million euros: +42.3% compared to 3 million euros in 2019.

The Asia-Pacific area, revenues reached 9.2 million euros: +16.4% compared to 7.9 million euros made by the group a year ago. As we said earlier, revenues slightly decreased, therefore going opposite the trend, in the Middle East and in Africa. In such areas, earnings amounted to 0.87 million euros: that is, -2.9% compared to 0.9 million euros made by the company in 2019 first half-year period.

The comment

“Considering the present health emergency, we are very happy about our accomplishment –pointed out Massimo Neresini, Chief Executive Officer of SICIT Group –. We hope that the emergency worst phase is behind us and we can rely, at the beginning of the second half-year period, on the rewarding results, +9.4%, we achieved in the first six months: a considerably brilliant success indeed, considering the difficult situation currently underway.

Buyers are still most interested in our products overall, with special regard, most of all, to bio-stimulants. Our industrial investment plan keeps going, as per our expectations, aiming at very good prospective goals. Although the general economic scenario is still rather negative, current results prove to be comforting as to the possibility to keep pursuing our business growth”.

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