SICIT positive trend keeps up. At the end of the first 9 months of 2020, the revenues of the company headquartered in Arzignano enjoyed an increase by 11.5% compared to 2019. Earnings have been pretty much growing in all geographical areas. As regards products overall, the ones that had been suffering from a downturn in sales, in the first six months of the year, are now turning the trend around.
SICIT positive trend keeps up
In the first 9 months of 2020, SICIT Group earnings enjoyed an overall increase by around 5 million euros, therefore reaching 48.2 million euros. In other words, they have been rising by 11.5%. Takings have been pretty much growing in all geographical areas and could benefit from a special boom in the Americas.
Product trend
Bio-stimulants for agriculture keep driving sales and revenues: +25%. Then, immediately behind, animal fat for production of biofuels (+8.4%), which well gained ground after a slight downturn (-1.0%) in the first six months.
As regards retardants for the plaster industry, they keep slowing down (-8.8%), mostly because of the detrimental effects of Covid-19 emergency on the construction industry worldwide market.
Finally, earnings from recycling by-products of animal origin and tanning waste materials (+0.1%) have made up for delay after the first half-year period (-7.4%), caused by lockdown affecting leather-tanning production as well.
The comment
“Considering the present health emergency, which is seemingly bound to hit again global economy, we are satisfied – pointed out Massimo Neresini, Chief Executive Officer of SICIT Group –. While facing the upcoming last quarter of the year, we can rely on a sound growth in double figures driven by our performance in the first nine months of the year (+11.5%). We are talking about a particularly valuable accomplishment on the present days. Our industrial investment plan successfully made up for delay, in the construction works, due to spring lockdown; furthermore, we kept developing new products as well.
Despite Coronavirus outbreak, such results prove comforting to us: although we are aware we must cope with a rather complicated economic scenario, we are confident we will manage to pursue the goals we have set for the year currently underway”.
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