SICIT starts 2021 well, with revenue up by 11.9% compared to the same period of 2020. The Chiampo-based company has grown all its agricultural bio-stimulants lines and bio-combustible materials for the production of energy. The only unit that didn’t increase was that of retardants for the plaster segment. The growth in different region is shared, but the Middle East and Africa incremented more than the rest.
SICIT starts 2021 well
During the quarter going from January 1st to March 31st, SICIT had a revenue of 22 million euro, up by 2.3 million compared to the first quarter of 2020. The growth has been equal to +11.9%. The positive performance had to do with agricultural bio-stimulants (+17%) and bio-combustible animal fats for energy production (+29.4%).
The revenue from collection of tanning residues also did well (+13.3%), while retardants for the plaster segment didn’t (-10.1%), mainly due to the impacts of the pandemic on the global construction market. In the same way, all global markets performed well: Europe (+3,8% in total; +17,8% Italy), Asia Pacific (+28,9%), Americas (+2,8%) and rest of the world (Middle East and Africa, +92,5%).
“We started 2021 very well. Continuing after a very good year, such as the one that just passed, and even with the pandemic”, commented Massimo Neresini, CEO of SICIT Group (in photo) -. Among the more significant aspects of the performance it’s worth mentioning the “ever growing demand for bio-stimulants -. A demand that has been pushed by new and important clients, in an area that wasn’t core for us; the availability to sell high-quality purified animal fats”. And more: “the excellent supply of tanning residues given to us, which surpassed the 40,000-tons mark, against 32,000 from the first quarter of 2020”.
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