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SICIT Group Records Strong Growth in Consolidated Revenues

Nikita Arya
Nikita Arya

SICIT Group announces that consolidated revenues in the period 1 January - 31 March 2020, recorded an overall increase of over € 4 million, which is a 25.6% increase in the revenue as compared to the same period of 2019. These results are concerned to all the main areas of business, like biostimulants for agriculture (recorded a 29.9% increase) to retardants for the plaster industry (recorded a 19.6% increase), and animal fat for the production of biofuels (recorded a 27.3% increase). 

Similarly, there has been massive growth among all geographical areas: from Europe (including Italy, there is a 25.1% increase, of which Italy’s contribution is 3.5% and other European countries have given 41%. The APAC (Asia-Pacific) region recorded a growth of 40.2% and in America, 13.9% has been recorded. The only area in countertrend is the Rest of the World (i.e., the 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 concerning 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."

SICIT was one of the first companies in the world to introduce protein hydrolysates of animal origin into the world market of biostimulants. The company, one of the pioneers of the circular economy, through a process of hydrolysis of residues from the tanning industry, produces a product with high added value for agriculture (biostimulants) and the plaster industry. 

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