SITI B&T : posts record figures in 2016

SITI-B&T Group posts record figures in 2016 Value of production up 14%, EBITDA up 9.3% and boom in net profits (+33.2%).

Formigine, 28 March 2017 - SITI-B&T Group S.p.A., a manufacturer of complete plants for the world ceramic industry listed on the AIM Italia stock market (Ticker: SITI), has posted double-figure growth in revenues and net profits in 2016. The value of production rose by 14.3% compared to 2015 to reach 209 million euros, largely driven by growth in sales of complete lines for ceramic tile production. The Group is increasingly establishing itself as a full provider capable of offering cutting-edge technologies for every stage of the production process, enabling it to secure major contracts from the top world players in the ceramic industry.

Gross operating margin (EBITDA) rose to 18.9 million euros, up 9.3% on 2015. Consolidated operating results (EBIT) totalled 14.4 million euros, an increase of 9.7%. Consolidated net profits grew by 33.2% year-on-year to 9.7 million euros. These were the main figures examined today by the Board of Directors of SITI B&T Group, which approved the Draft Financial Statements and Consolidated Financial Statements to 31 December 2016. The Shareholders Meeting will be called for 28 April to approve the financial statements.

"2016 was a pivotal year in our Group's history, not just because of the solid growth we achieved in all the key economic and financial indicators but also because we successfully completed the stock market listing process," said Fabio Tarozzi, Chairman and Managing Director of SITI-B&T Group. "This will enable us to support our growth strategy and continue to invest in innovation and new product development. The internationalisation and expansion of our Customer Service division's world network has also enabled the division to achieve a record turnover. Through our good strategic choices, we have been able to take advantage of important opportunities to supply complete ceramic production lines to the leading world players in the sector."

SITI-B&T Group will continue to move forward by offering services that increasingly complement its product range. Export share remains at more than 80% of turnover, boosted by a constantly expanding international network coupled with major investments in the new Customer Service division aimed at improving quality, efficiency and reliability. This includes new branches and new services providing customer support, as well as a new original parts warehouse.

The Group has also performed strongly in the domestic market with 14% growth in turnover in Italy. This reflects increasing trust in the Group's technologies and ever closer cooperation with major client companies in the Sassuolo ceramic cluster.

Innovation remains a constant commitment for SITI B&T Group, which continues to invest 4% of its turnover in Research & Development. Numerous product innovations based on Smart Manufacturing, Industry 4.0 and Green technology were presented in 2016, resulting in an increase in turnover through the growing contribution of all companies and divisions.

Technological innovations

SITI B&T's showpiece of innovation is SUPERA®, a revolutionary complete line for the production of large-format ceramic slabs that stands out for its extraordinary versatility in terms of sizes, unlimited decorative potential, innovative end-of-line processing, and optimised warehousing and logistics. The latest generation of Titanium® XXL kilns achieves unprecedented levels of energy efficiency, cutting fuel consumptions and atmospheric emissions by 30%. The innovative "jumbo" 7-layer horizontal Multisky Dryer combines low levels of consumption with a significant increase in output.

Projecta Engineering, the Group's full digital company, is continuing its growth by upgrading all technologies for digital decoration of ceramic products. These include the latest-generation G5 machine for decorating large-format tiles, the Evomoving decorating machine for special pieces, and the Evodryfix machine for dry application of grits for special decorations. Ancora, a leader in surface finishing of ceramic products which has successfully completed its first year as part of the Group, intends to expand its range of products with new solutions that combine increasingly high performance with lower energy consumption. These include the innovative PoliDry dry honing machine, the new waterjet cutting machine (an extremely interesting and flexible patented solution ideal for large slabs and panels) and the Dry Squaring Speed high-speed dry squaring machine.

The B&T WHITE division also reported positive results in 2016, winning major international orders and developing sanitaryware production technologies for two key stages of the production process: high-pressure casting (Circle) and robotised glazing (Selfie).

The outlook for 2017

The main markets show a good propensity to invest and the orders portfolio is in line with expectations.

SITI-B&T Group SITI-B&T Group, listed on the AIM Italia stock market since March 2016, is a manufacturer of complete plants for the world ceramic industry with a strong presence in all global markets. It

delivers outstanding technological solutions and innovative services with a special focus on

energy efficiency and production cost reduction.

It offers customers a complete personalised service including technical assistance with installation, maintenance and modernisation of production lines.

SITI-B&T Group operates through the following business units: Tile (complete plants for tile production), Projecta Engineering and Digital Design (digital decorating machines and digital graphic design projects), Ancora (surface finishing systems for ceramic products) and B&T White (complete plants for sanitaryware).

www.sitibt.com

***

Ordinary Shares: ISIN code IT0005171936 - Alphanumeric Code SITI Warrants: ISIN code IT0005174518

Convertible Bonds: ISIN code IT0005172165

Press contacts

Media Relations Image Building Simona Raffaelli, Emanuela Borromeo, Anna Lisa Margheriti Tel [phone] [e-mail]	Nomad Banca Popolare di Vicenza S.p.A. Tel [phone] Sitib&[e-mail]
SITI-B&T Group S.p.A. Investor Relations [e-mail] Tel. [phone]	Marco Fiori INtono Comunicazione [e-mail] Mob. [phone]
Investor Relations IR Top Consulting Tel [phone] [e-mail]