Mediobanca's Research Office presented to the press today the latest edition of "The main Italian companies", the annual ranking (relating to 2012) of the major industrial and financial companies, an exhaustive roundup of figures and numbers ranging to compose the evolution of the framework of the Italian entrepreneurial system at the end of last year.
INDUSTRY
Revenue
The leading industrial group by turnover remains Eni, whose turnover grew by 16,1% year on year in 2012, from 109,6 to 127,2 billion, thanks to the increase in foreign sales (+23%) . In second position is confirmed by Exor which in 2011 had undermined Enel thanks to the consolidation of Chrysler which also referred to only 7 months of activity. The Agnelli holding closed its first year in 2012 with 12 months of Chrysler (which is worth 51,2 billion in revenues) and total sales of 110,7 billion (+31,2%). It should be noted that at the end of 2012 even Fiat's revenues alone (84 billion) were higher than those of Enel (firm in third place with 82,7 billion), a fact that had not happened since 2007.
In fourth position is the GSE (a public company that carries out electricity trading activities) ahead of Telecom Italia which yields 1,4% to 28,9 million, due to the sharp decline on the national market). Finmeccanica confirms its sixth place, losing 0,6% of turnover, with a drop in national sales (-9,2%). Esso Italiana is seventh with a billion ahead of the Edizione Benetton, up 1,4% on 2011. Stable in their positions (ninth, tenth and eleventh respectively) are Edison (+5,6%), Saras (+7,8, 3,2%) and the Italian post office (-20%). The latter, however, if insurance premiums were also considered (Poste Vita is the third largest Italian insurance hub behind Generali and Unipol), they would take sixth place overall in the ranking, with revenues exceeding XNUMX billion.
Few movements in the following positions, which see in order Erg, Kuwait Petroleum, Prysmian, TotalErg, Luxottica (which scores the strongest annual growth, +13,9% and climbs two positions in the standings), Supermarkets Italiani, Ferrovie dello State and A2A. Rounding out the top 20 is the new entry Pirelli which, thanks to growth of 9,1%, undermines Fininvest from twentieth position.
Ten of the top twenty companies belong to the energy sector (oil or electricity), five to infrastructure management or services (telecommunications, catering, postal, distribution or transport), with only five groups operating in manufacturing (Fiat/Exor , Finmeccanica, Prysmian, Luxottica and Pirelli). In the calculation, the collapse of Riva Fire weighs, due to the Ilva events. Other large companies, owned by Italy but based abroad, were not considered: Tenaris, STMicroelectronics and the Ferrero group.
Number of employees
The Group with the highest number of employees is Exor with around 287.300 units (up by 5,1% on 2011), of which around 205 thousand belong to Fiat, followed by Poste Italiane with around 146.500 units. Telecom Italia surpassed ENI in 2012, 78.564 units against 77.838. Enel follows with 73.702 employees. Over 70 thousand units we still find the State Railways which continue the downsizing (-2,4% in 2012) bringing to 71.930 employees and Luxottica which leaps to 70.307 employees (+7,2%) undermining Finmeccanica.
However, if one looks at the major "employers" in Italy, Poste Italiane leaps into first position, whose 146.542 employees are all on the national territory. Exor takes second place, ahead of FS.
Debts
The largest financial debts at the end of 2012 were held by Enel (64 billion euros, up 1,3% on 2011), Exor (50,1 billion, +3,7%), Telecom Italia (37,3 ,4,8 billion, -24,5%) and Eni (17,3 billion euros, -XNUMX%).
Losses
Among the biggest losses in absolute terms we find that of Esso Italiana (-233 million, 1,7% of turnover) which was already in second place in this ranking last year with an operating deficit of 234 million. Followed by Rai (-198 million), Maire Technimont with 141 million, also a repeat offender having led the 2011 ranking with 321 million) and then Alitalia with 119 million.
In terms of net loss, Telecom Italia is confirmed first with a net loss of 1,6 billion, or 5,6% of turnover, which follows that of 4,8 billion, 16,4% of turnover, in 2011 A confirmation also in second place with Finmeccanica losing 828 million after the 2,3 billion. of 2011.
Useful
Eni confirms itself as the champion of profits with 14.648 million in the two-year period 2011-2012, followed by Enel with 5.013 million. The Post Office is third with 1.879 million, but looking at 2012 alone, it is second, surpassing Enel with profits of 1.032 million against the 865 million of the electricity group (penalized by write-downs). Also the fourth position for cumulative profits goes to a public group (Snam), while the first private one is Prada which has accumulated net profits of 1.058 million, ahead of Luxottica at 994 million. After the 904 million of the public Terna, the other big private profits are Exor (902 million), Pirelli (846 million) and Impregilo (780 million).
BANKS
In 2012, the Italian banking system recorded a still negative ROE after that of 2011, having closed with an aggregate loss of 2,6 billion euros, in sharp slowdown, however, compared to the red of 21,9 billion of the previous year due to devaluations and adjustments. The aggregate loss affected both the commercial banking system (2,3 billion) and that of cooperative banks (1,8 billion), while the mutual banks closed in profit (427 million euro, up 34,3% on 2011).
La ranking of Italian banks (prepared on the basis of total tangible assets) in 2012 did not report significant changes in the top 20 positions compared to 2011. The only four changes concern the growth of one position (from 16th to 15th) of Banca Popolare di Sondrio (32,3 bn. tangible assets, +10,2% on 2011) and Deutsche Bank (which moves from 18th to 17th with total tangible assets of 30,2 billion, +21,8% on 2011), while they retreat by one position Credito Emiliano (from 15th to 16th, total assets of 30,4 billion, -0,1%) and Credito Valtellinese (from 17th to 18th, despite total assets growing to 29,5 billion). UniCredit retains the first position for total tangible assets (stable at 911 billion euro), ahead of Intesa Sanpaolo (659 billion, +5,5%) and Banca MPS (218 billion, -8,5%); followed by Banco Popolare (129,6 billion, -1,7%), UBI Banca (129,5 billion, +2,1%), BNL (91 billion, -6,9%), Mediobanca (78,2, 7,9 billion, +61%) and Popolare dell'Emilia Romagna (1,9 billion, +20%). The greatest growth in the Top20 concerned Banca Mediolanum (17,5th, 19,3 billion in tangible assets, +13%), followed by Banca Popolare di Vicenza (45,7th, 11,8 billion in tangible assets, up 2011% on 12) and Banca Carige (47,3th, 10,3 billion tangible assets, +XNUMX%).
