Siti B&T : Board Of Directors Approves Consolidated Interim Financial Report 2016

PRESS RELEASE SITI-B&T GROUP S.P.A. BOARD OF DIRECTORS APPROVES CONSOLIDATED INTERIM FINANCIAL REPORT 2016 The Group is continuing its strategy focused on innovative new product development and internationalisation. Sales revenues are expected to grow by 10% to 187 million euros by end of 2016

• Sales revenues of 74.3 million euros to 30 June 2016, 16.9% up on the 63.6 million euros to 30 June 2015
• Consolidated EBITDA up by 19% to 2.5 million euros compared to

2.1 million euros to 30 June 2015

Formigine, 1 October 2016 - Yesterday evening, the Board of Directors of 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), approved the Interim Financial Report to 30 June 2016.

"We are satisfied with our performance in the first half of 2016, particularly as our first-half results tend to under-represent full year results due to the seasonal nature of orders. In particular, we reported 16.9% growth in sales revenues and gave a further boost to our international development programme with the opening of the new branch in Singapore and the Chinese factory in Foshan," commented Fabio Tarozzi, Chairman and Managing Director of SITI-B&T GROUP S.p.A. "In view of this and our orders portfolio, we are confident that we will conclude 2016 with approximately 10% growth in sales revenues to around

187 million euros."

MAIN CONSOLIDATED RESULTS TO 30 JUNE 2016

In a still uncertain macroeconomic environment that has seen moderate growth in advanced economies and continued economic weakness in emerging countries, SITI-B&T GROUP S.p.A. reported sales revenues of 74.3 million euros in the first half of 2016, 16.9% up on the same period in 2015 (63.6 million euros). As in previous years, the seasonal nature of orders means that the revenues generated in the first half are not proportional to those reported by the Group

annually. The 12.9% increase in value of billable orders already received as of 30 June 2016 with respect to the same period the previous year is therefore particularly significant.

In particular, Ancora SpA, a company that manufactures surface finishing machines for ceramic tiles acquired in February 2015, is carrying out a successful reorganisation process and expects to close 2016 with revenue growth of more than 20% following the introduction of a renewed product range and integration with the SITI-B&T sales network. B&T White, a sanitaryware production plant manufacturing unit, is likewise reporting excellent results thanks to the market appreciation of its innovative solutions.

EBITDA of SITI-B&T GROUP S.p.A. to 30 June 2016 totalled 2.5 million euros (3.3% of revenues), an improvement on the 2.1 million euros to 30 June 2015 (3.2% of revenues) but still not representative of the 2016 full-year results given that the first half revenues, as in previous years, make up less than 40% of the total revenues expected for the full year. The net profits of SITI-B&T GROUP S.p.A. to 30 June 2016 was negative by

0.7 million euros, an improvement on the negative result of 1.5 million euros to 30 June 2015.

The consolidated net financial position as of 30 June 2016 was 45.9 million euros compared to 36.5 million euros at 31 December 2015 and 44.6 million euros at 30 June 2015 (before the increase in capital achieved through listing). Borrowings, mainly absorbed by the increase in Working Capital, are in line with the larger number of orders due to be shipped in the second half of the year.

SIGNIFICANT EVENTS THAT OCCURRED IN HALF YEAR TO 30 JUNE 2016 World network

The investment policy for the SITI-B&T Group's global network development programme continued in the first half of 2016, leading to the opening of SITI Far East, the Group's new branch based in Singapore, and the official opening of the new factory of Chinese company Foshan SITI-B&T Ceramic Technology. Completion of this latest investment will bring a significant increase in production capacity and will create a more efficient production process serving the Asian market.

New products

The Technology Centre in Formigine continued to develop new products such as the large-format ceramic slab production line and the new thermal machines combining lower consumption with higher productivity.

Listing on AIM Italia market

On 29 March 2016, Borsa Italiana S.p.A. admitted the Company's ordinary

shares, convertible bonds and warrants for trading on AIM Italia/Mercato Alternativo del Capitale, organised and managed by Borsa Italiana S.p.A. Admission to trading followed the placement (with Over Allotment option) of 3,250,000 ordinary shares - of which 2,500,000 shares derived from the paid share capital increase and 375,000 shares were offered for sale by the company's sole shareholder - with accredited Italian and international investors and an offering to the general public pursuant to art. 100 of Legislative Decree 58/1998 and art. 34-ter, paragraph 1, letter c) of CONSOB Regulation 11971/1999.

The debut on the AIM Italia market marks an important milestone in the growth strategy of a Group that has evolved constantly and has responded to the challenges posed by the market through investments and targeted acquisitions.

Outlook for the current year

In view of the orders backlog and continuous order acquisition through the months of July and August, it is reasonable to expect a 10% year-on-year increase in sales revenues in 2016.

SITI-B&T Group

SITI-B&T Group, listed on the AIM Italia 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

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

Convertible Bonds: ISIN code IT0005172165

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