Market ConditionsThe Heating and Ventilation sector still looks on hold, with no mid-term visibility.
Revenue DeclineFY23 and 1Q24 revenues fell by roughly the same extent with no sequential quarterly improvement, reflecting the Heating and Ventilation division’s lower volumes.
Stock PerformanceThe stock is at its absolute lows, penalised by SIT's reference market’s difficult trend and by its unattractive financial structure.