21,8 billion. That amounts to that the aggregate turnover of Italian companies operating in the wood and furniture sector, of which 9 made abroad. This is the most significant data contained in the second edition of the "Focus on Wood-Furniture Companies" published by the Mediobanca Research Office on the eve of Furniture expo. The research analyzes the performance of the 330 companies (52 commercial and 278 manufacturing) operating in the wood and furniture supply chain and which achieved a turnover of at least 16 million euros in 2017.
THE WOOD-FURNISHING SECTOR IN ITALY
Italian design is a healthy sector with solid companies, which in 2017 generated a total turnover of 21,8 billion, growing by 4,4% per year, while a third of sales are made abroad (about 9 billion). “Based on the latest sector data made available by FederlegnoArredo – write the Mediobanca experts – the representation rate of the 330 companies, in 2017, is equal to 53% in terms of turnover (out of 41,5 billion) and 63% in terms of exports (out of 14,3 billion). In the same year, the turnover of manufacturing companies alone reached 16,5 billion, marking an increase of 5% on 2016”.
In 2017, they recorded the greatest growth the furniture manufacturers for offices and public spaces (+8,7% in sales), followed by manufacturers of kitchens (+7%) and those of wood and derivatives (+6,8%). On the other hand, the lighting (+0,9%) and armchairs and sofas (+0,8%) markets were less dynamic.
Under the employment profileand, in the 330 companies taken into consideration by the study, around 82.000 employees work, an increase of 6,5% compared to 2013. Ten of these companies employ around 30% (24.000 employees) of the total number of employees. The main increases are due to commercial companies (+16,8%), while, in the manufacturing sector, the most dynamic sectors were those of other domestic furniture (+15,6%) and offices and public spaces ( +12%). Upholstered furniture (-4,7%) and lighting (-7%) are down.
From a financial point of view, 88 percent of companies operating in the sector closed their accounts in profit. “In 2017, the operating result, equal to 708 million, marks a further increase of 8,3% compared to 2016. From a financial point of view, companies in the sector can boast a good solidity: in the last five years, in fact, the ratio of financial debt to equity rose from 80,3% in 2013 to 54,5% in 2017. At the same time, liquidity in relation to financial debt also increased (from 31% to 50,6%). The picture ends with high creditworthiness, confirmed by credit scoring scores which in 2017 included 71,9% of manufacturing companies in the investment grade class”, reads the report.
THE GEOGRAPHY
Above all, the North East is the leader with 142 companies, 43% of the total, followed by the North West (108, 33%), the NEC Center (49, 15%) and the Centre, South and Islands (31, 9%). From a regional point of view, Lombardy stands out (98 companies). In second position is Veneto (70), third is Friuli Venezia Giulia (33), in fourth and fifth place respectively Marche (30) and Emilia-Romagna (27). These five regions together represent 78% of the total companies considered (80% in terms of turnover). In addition, 174 companies are located in district areas, confirming the importance of local business networks, which with their model based on collaboration and competition multiply the capabilities of individual companies.
THE TOP PLAYERS
Wanting to draw up a ranking, it is Ikea Italia Retail the first group in Italy by turnover (1,8 billion, +1,3% on 2016), followed by Edil Tre Costruzioni (Convenience World, 1,1 billion, +5,8%). The podium is completed by the Saviola group (0,6 billion, +10,4%) operating in woodworking.
Among the 330 companies the champions for total turnover growth are: Sistem Costruzioni (Mo; +90,1%), Paolo Castelli (Bo; +71,4%), Marine Interiors (Pn; +64,6%), Spencer Contract (Ge; +62%) and Ares ( Ar; +46%). These are mostly companies in the contract sector for the furnishing of public spaces, ships and boats.
