in 2017 major Italian companies have seen revenues increase the 5,8% interrupting a four-year period of consecutive declines. Exports grew (+7,1%) and the domestic market also performed well (+5,2%). The data emerges from a survey by Mediobanca's Research Area on the aggregate financial statements of 2.075 industrial and service companies in the decade 2008-2017.
The analysis also reveals that aggregate turnover has returned to 2008 levels (-0,6%), but on the basis of a strong disparity: the domestic market is still far from pre-crisis levels (-10,4%), while exports rose to +25,2%.
The awakening of 2017 affected all sectors, both public enterprises (+6,7%), private (+5,6%) and foreign-controlled enterprises (+4%); progress was recorded in industry (+6,6%), the service sector (+3,2%) and manufacturing (+6,1%); within manufacturing, both large companies (+6,9%), medium-large (+6,8%) and medium-sized (+6,6%) did well, and with them all the Made in Italy (+ 4,6%).
Almost all product sectors gained turnover in 2017, with only three exceptions: TV broadcasting (-1,9%, due to lower license fees and a drop in subscriptions), publishing (-3,3%) and, above all, construction companies (-3,5% ) which decreased for the second consecutive year due to the depletion of large contracts in Italy and abroad. But in 2016 the picture was worst, with eleven sectors in decline on 2015.
I sectors top sellers in 2017 are metallurgy (+17,9% on 2016), oil (+11,4%), paper (+9,2%), hides and leather (+9%), plant engineering (+8,7%), means of transport (+7,2%), transport (+7,1%), rubber and cables (+6,9%), chemicals (+6,8%) and energy (+6,2%); worth noting is the second increase in telecommunications (+1,6%), after seven years of setbacks.
I sectors top sellers since 2008 instead they are hides and leather (+52,5%), local utilities of water, environmental hygiene, airports and motorways (+33,2%), means of transport (+29,9% but only +9,9% without FCA), beverages (+29,2%), canning (+28,1 .22,6%), transport (+XNUMX%) and large-scale distribution, especially non-food e discount (+ 21,8%).
Finally, the worst sectors of the last decade are publishing (-42,1%), building products (-36,5%), oil (-35,6%), plant engineering (- 23,5%) and Tlcs (-22,7%).
YOU LIVE NOT ONLY ON TURNOVER: THE MANUFACTURE KNOWS IT WELL
On the front of industrial margins (Mon) and dell'occupation the road is still long, being the data of 2017 respectively 11,6% and 3,7% lower than in 2008. In terms of industrial margins, the figures are not encouraging: -15,9% for public companies, -10,1% for private companies, even -32,4% for the tertiary sector. The picture would be much darker if it were not illuminated by the excellent ones performance of the manufacture: +26,5%, thanks to the contribution of medium-sized enterprises (+23,5%), medium-large (+23,3%) and large enterprises (actually +80,8% which drops to +48,6 % without FCA Italy).
2017 delivered us an industry ai better levels of financial strength: 73,3% of companies are investment grade (recovering by 11,2 percentage points on 2008), with the high (84%) and medium-high technology (77,5%) sectors at the top, the medium-low (71,7%) and less brilliant low-tech (70,5%).
Good news for too investments, up by 6,4% on the average of the previous four years (2013-2016), with the manufacturing in great dust (+14,6%) and the tertiary sector which has shown signs of vitality (+6,5%) after years of stagnation. Since 2013, in particular, the investments of manufacturing grew by 27,5% with a recovery of competitiveness of 12,7% and an age of the plants growing by just 7%.
Last but not least, also tax burden it's going down. In 2017 the tax rates of the aggregate was 20,8%, down by 7,5 points on 2013.
FOREIGNERS IN ITALY: WHAT THEY DO AND HOW THEY DO IT
The main foreign companies in Italy are 557 and achieve a turnover of 221 billion, equal to a third of the national total. The more significant presences they are those of France (60,1 billion), the USA (38,8 billion), Germany (26,5 billion), the UK (21 billion) and Switzerland (12,2 billion).
In 2017 these companies invested 10,9 billion in Italy, against 18,5 of Italian-controlled companies. Pay salaries 10% higher and have a 12,5% higher productivity. They are more efficient and therefore competitive in the chemical-pharmaceutical and mechanical sectors, equal in the food sector, less performing in personal and household goods.
Read the full survey.
