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RNS - SIT S.p.A., The Shareholders’ Meeting Approves the 2024 Financial Statements. Presentation of the Consolidated Financial Statements and the 2024 Consolidated Sustainability Report

Company: Sit Date: 2025-05-30 Language: English Register to download

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## **SIT S.p.A., The Shareholders' Meeting Approves the 2024 Financial Statements**

## **Presentation of the Consolidated Financial Statements and the 2024 Consolidated Sustainability Report**

- **Financial Statements as of December 31, 2024 approved**
- **Presented the Consolidated Financial Statements and the Consolidated Sustainability Report for fiscal year 2024**
- **Allocation of the net result approved**
- **2025 Remuneration Policy approved and expressed a favourable vote on the remuneration paid in 2024**

Padua, May 30, 2025 – **SIT S.p.A**., a company listed on the Euronext Milan segment of Borsa Italiana, announces that the **Ordinary Shareholders' Meeting** was held today in hybrid mode and on a first call, chaired by Mr. Federico de Stefani. Below are the main resolutions passed during the Shareholders' Meeting:

**Approval of the Statutory Financial Statements as of December 31, 2024 -** The Shareholders' Meeting of SIT S.p.A. resolved to approve the separate Financial Statements as of December 31, 2024, which closed with a net loss of Euro 38.66 million. The Shareholders' Meeting also acknowledged the Consolidated Financial Statements as of December 31, 2024, and the Consolidated Sustainability Report for the same year.

In 2024, SIT S.p.A. achieved:

- ❖ Consolidated revenues: Euro 299.5 million
- ❖ Heating & Ventilation Division sales: Euro 206.7 million
- ❖ Metering Division sales: Euro 88.2 million, of which: Smart Gas Metering Euro 58.0 million and Water Metering Euro 30.2 million
- ❖ Adjusted consolidated EBITDA: Euro 27.5 million
- ❖ Adjusted consolidated net result: negative for Euro 10.5 million
- ❖ Operating cash flow: Euro 18.2 million, after investments of Euro 16.0 million
- ❖ Consolidated net financial position: Euro 145.9 million

For more detailed financial information as of December 31, 2024, please refer to the press release issued on April 17, 2025.

**Allocation of Net Result -** The Shareholders' Meeting resolved to carry forward the loss for the year amounting to Euro 38,662,289.

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**PRESS RELEASE**

**Approval of the 2025 Remuneration Policy -** The Shareholders' Meeting approved the 2025 Remuneration Policy and expressed a favourable advisory vote on the remuneration paid in 2024. For full details, please refer to the Remuneration Report available at [www.sitcorporate.it](http://www.sitcorporate.it/) under Corporate Governance > Shareholders' Meetings > Ordinary Shareholders' Meeting of May 30, 2025 and in the authorized storage mechanism eMarket STORAGE at [www.emarketstorage.com.](http://www.emarketstorage.com/)

For further details regarding the resolutions of the Ordinary Shareholders' Meeting, please refer to the minutes, which will be published within the timeframe and in the manner required by applicable laws and regulations.

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**Statement of the manager responsible for preparing the company's financial reports**

The manager responsible for preparing the company's financial reports, Mr. Paul Fogolin, declares, pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the document results, books and accounting records.

SIT, through its Business Units Heating&Ventilation, Smart Gas Metering, and Water Metering, creates intelligent solutions for environmental condition control and consumption measurement for a more sustainable world. A multinational leader in its reference markets and listed on the Euronext Milan segment, SIT aims to be the leading sustainable partner for energy and climate control solutions serving client companies, paying great attention to experimentation and the use of alternative gasses with low environmental impact. The group has production sites in Italy, Mexico, Romania, China, Tunisia, and Portugal, and has a commercial structure covering all global reference markets. SIT adheres to the United Nations Global Compact and its related principles that promote a responsible way of doing business and has obtained the Gold sustainability rating by EcoVadis. SIT is also a member of the European Heating Industry and the European Clean Hydrogen Alliance, as well as the Water Value Community for Italy - www.sitcorporate.it/en

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## **Contacts**

| SIT Investor Relations   | Investor Relations Advisors<br>TWIN | SIT Media Relations         |
|--------------------------|-------------------------------------|-----------------------------|
| Paul Fogolin – CFO       | Mara Di Giorgio                     | Andrea Schiavon             |
| +39 049 829 3111         | +39 335 7737417                     | +39 338 3018790             |
| paul.fogolin@sitgroup.it | sit-group@twin.services             | andrea.schiavon@sitgroup.it |
|                          |                                     |                             |