- Consolidated revenues in the first quarter reached € 19.7 million (vs. € 15.7 million in Q1 2019, +25.6%)
- All of the company’s main businesses are showing significant growth: biostimulants up to € 12.1 million (vs. € 9.3 million in Q1 2019, +29.9%); retardants up to € 4.3 million (vs. € 3.6 million in Q1 2019, +19.6%); animal fat up to € 2.1 million (vs. €1.7 million in Q1 2019, +27.3%)
- All the main geographical areas grew significantly: Europe (including Italy) up to € 12.1 million (vs. € 9.7 million in Q1 2019, +25.1%); Asia-Pacific up to € 4.5 million (vs. € 3.2 million in Q1 2019, +40.2%); Americas up to € 1.7 million (vs. € 1.5 million in Q1 2019, +13.9%)
SICIT Group announces that consolidated revenues in Q1 2020, compared to the same period of 2019, recorded an overall increase of over € 4 million (+25.6%). This growth result concerned all the main areas of business: from biostimulants for agriculture (+29.9%) to retardants for the plaster industry (+19.6%), to animal fat for the production of biofuels (+27.3%).
Similarly, growth concerned almost all geographical areas: from Europe (including Italy, +25.1%, of which Italy +3.5% and other European countries +41%) to APAC (40.2%) and Americas (+13.9%). The only area in countertrend is the Rest of the World (i.e., Middle East and Africa, -8.1%).
Alessandro Paterniani, Chief Commercial Officer of SICIT Group, commented: “we are very satisfied. Although part of the increase can be reasonably attributed to an advance on purchases to prevent a possible ‘shortage effect’ from COVID-19, we believe that the level of interest in our products is still in a substantially positive trend, especially with regard to biostimulants. Despite the uncertainty of the economic environment, our client’s feedback comforts us on the possibility of achieving the economic and financial targets set for 2020“.