Turnover of 366 billion in 2018 (+3,3%), profits of 46 billion and 57 billion in cumulative dividends in the period 2014-2018. These are the aggregate numbers of the 42 large Italian groups listed on the Stock Exchange contained in the R&D Yearbook of the Mediobanca Study Area.
STOCK EXCHANGE, LISTED COMPANIES: THE RANKING OF REVENUES
The aggregate turnover of listed companies is mainly affected by the energy sector which accounts for more than half (52,8% of the total) and which in 2018 recorded a growth of 7,5% on 2017. Manufacturing also did well (+2,6 .26,8%), which generates XNUMX% of the total turnover. The remaining share is instead held by the tertiary sector.
“In 2014-2018 the revenues of large private companies increased (+15,8%), in contrast to public ones (-9,2%) which, however, invoice on average tripled and accounted for 65,7% of sales (against 34,3% of private companies). Above all, private manufacturing groups (+3% on 2017) compared to public ones (+1,7%), especially if the comparison is extended to five years (+30,7% private individuals, -17,3% public ones),” reads the report.
As for the individual companies, the two big names of the Ftse Mib take the lion's share: Eni and Enel which alone contribute to 41% of the aggregate turnover. Speaking in numbers. In first place in the standings we find Eni which in 2018 brought home revenues of 75,8 million euros, second to Enel with 73,1 billion euros. On the third step of the podium, with a large gap over the first two, is FCA Italia with 27,2 billion in turnover. Fourth Poste Italiane with 25,6 billion euros. They follow:
5) Telecom Italia (18,5 billion);
6) Edition (13,19 billion);
7) Leonardo (12,24 billion);
8) Saras (10,268 billion);
9) Prysmian (10,105 billion);
10) Edison (9,164 billion).
In this context, growth must also be taken into account. From this point of view, they recorded a double-digit increase in revenues in 2018 Saras (+35,9%), Moncler (+18,9%), Eni (+13,3%, the only public group among the top three), Interpump (+ 11,6%) and Iren (+10%, first local utility).
PROFITABILITY AND PROFITS
“In 2018 the industrial profitability of public groups exceeded that of private groups (ebit margin at 13,5% against 10,8%) above all due to the impact of the energy sector (14%). Private manufacturing (11,2%) is, on the other hand, more profitable than public manufacturing (4,7%), with Recordati, DiaSorin and Moncler on the podium. The performances of the "monopolists" of the Snam (55%) and TERNA (51,4%) networks are unattainable” underlines the Mediobanca Research Area.
As regards profits, which in the period 2014-2018 reached a total of 46 billion euros, it is Enel the undisputed champion of profiti, with 13,9 billion euros. On the podium too Snam (5,2 billion) and Poste Italiane (€3,5 billion). They follow:
4) Terna (3,169 billion);
5) Telecom Italia (2,796 billion);
6) Edition (2,553 billion);
7) Leonardo (1,7 billion);
8) Prada (1,5 billion);
9) Italgas (1,472 billion);
10) Recordati (1,198 billion).
DIVIDENDS: WHO PAYS AND WHO RECEIVES
In the period 2014-2018, listed companies paid out 57 billion in dividends. Also in this case Eni, with 16,3 billion, and Enel, with 13,7 billion dominate all the other companies. The largest share goes to the Italian State which collects 11,2 billion, more than double the amount collected by the families that control the private groups (4,7 billion), while 1,2 billion euros go to the municipalities.
AND THE BIG EUROPEANS?
In the European Top 10 by turnover, dominated by Germany with five big players, there is no Italian group. The top10 Germans invoice just under half of the Italian GDP, with the top 4 German companies (VW, Daimler, BMW and Siemens) which alone are worth more than the top 10 big Italians. Just think that Italian manufacturing determines only 5,5% of cumulative European turnover (against 55,8% in Germany, 25,6% in France and 13,1% in the United Kingdom) and 4,6% of the respective national GDP (against 24,1% for Germany, 15,9% for France and 8% for the United Kingdom).
Italian companies also have a much lower growth rate (+8% compared to 23,7% of the British, 23,6% of the French and 15,1% of the Germans) and much higher profits: Italians only 3 of the 493 billion generated overall in five years. Best of all Germany (218 billion), followed by the United Kingdom (140 billion) and France (132 billion).
Not even the Stock Exchange rewards the big Italian players whose capitalization suffered a drop of -8,7% on 2014, lower only than the -15,7% of the big Germans. On the other hand, French (+32,1%) and British (+7,8%) are growing.
