(Finance) – He gets off at Piazza Affari the title SITa company listed on Euronext Milan and active in the production of intelligent solutions for the control of environmental conditions and the measurement of consumption, after the announcement on Friday evening 9-month sales down 8.1% and it was guidance revised downwards.
In particular, the 2024 sales of the Heating & Ventilation Division are expected to be in low double digit reduction compared to 2023 (against a previous guidance of high single digit reduction), those of the Metering should be in line with those of 2023 (guidance confirmed), the ‘EBITDA percentage it should be just above what was achieved in the previous year (vs previous forecast of an increase between 100 and 200 basis points) and net financial debt at 145-150 million euros (guidance confirmed).
“We consider the revised guidance negative and implying a postponement of the recovery – the analysts write Intesa Sanpaolo – Assuming FY24 Heating & Ventilation revenues are down double digits and EBITDA margin at 9.3% (compared to 9.8% in our current estimates), FY24 EBIT would be slightly negative and FY25 EBIT would be down double digits from our current estimates. While we also underline that the SIT’s financial structure is not attractivelet’s put ours Rating and TP under review“.
It moves into negative territory SITwhich stands at 1.02 euros, with a drop of 2.39%after having also been suspended downwards and having reached 0.964 euros in the first trading.