Enel is the largest Italian company in terms of turnover, Intesa Sanpaolo and Unicredit vie for supremacy in the banking sector, Generali dominates insurance and FCA the manufacturing.
These are the main indicators provided by the 53rd edition of theannual survey of the "Major Italian Companies" carried out by the Mediobanca Research Area presented today, October 24, in Milan.
The study takes into consideration the financial statements of 3.470 companies, divided according to the sector in which they operate, in parallel examining the data relating to the most dynamic manufacturing companies.
INDUSTRY: THE RANKING OF ITALIAN COMPANIES
The picture of Mediobanca, referring to 2017, shows few changes compared to the previous year. The top five places in the standings are in fact occupied by them five giants that have dominated the Italian scene for years. The podium is entirely the prerogative of the big energy and oil companies: in first place we find theEnel with a turnover of 73,5 billion euros, closely follows theEni with 66,9 billion. On the third step of the podium, however, he is placed GSE, the public company that carries out electricity trading activities, with 31,4 billion.
The top 10 of Italian companies continues with:
4) FCA Italy: 28,6 billion in turnover (manufacturing sector),
5) Telecom Italy: 19,5 billion (services),
6) Edition: 12,1 billion (holding),
7) Leonardo: 11,5 billion (defence),
8) Edison: 9,7 billion (energy),
9) Luxottica: 9,2 billion (production and distribution),
10) Saipem: 9 billion (oil).
As Mediobanca points out, "the Top 3 of industry is dominated by large public energy-oil groups", while "the subsequent positions open up to other sectors, such as manufacturing (6 operators) which imposes itself with FCA Italy in fourth position, services (7 operators) led by Telecom, again the energy-oil sector (3 operators) and finally Salini Impregilo, a new entry in the building construction and public works sector”. It should be noted that Exor is not present in the standings, due to the transfer to the Netherlands.
Wanting to make a further differentiation, in the top 20 positions of the Mediobanca ranking there are seven public groups and seven with foreign control (Telecom, Edison, Esso, Prysmian, Parmalat, Vodafone and Wind Tre).
Going forward, from an employment point of view, the company that employs the largest number of employees is Poste Italiane, with 138 people, followed by Luxottica (85.150 units) and Ferrovie dello Stato (74.436 units) which, for the second year, increase the number of employed. Followed by, with more than 50 employees, Edizione (67.115 units), Enel (62.900 units) and Telecom Italia (59.429 units).
Enel is also the "champion" company in financial debt (with a balance at the end of 2017 of 51,3 billion) but also in profits, with 6,3 billion in the two-year period 2016-2017; followed by Telecom Italia (2,9 billion) and Eni (1,9 billion). On the other hand, Wind Tre (4,3 billion), Saipem (2,4 billion) and FCA Italy (1,8 billion) made a loss.
BANKS AND INSURANCE: HERE IS THE RANKING
The dualism between the two big names in the Italian banking sector is also confirmed in 2017. Unicredit and Intesa Sanpaolo tower over the sector and conquer the first two positions in the ranking with, respectively, 833,4 and 789,1 billion of total tangible assets. However, it should be emphasized that, compared to 2016, the institute led by Jean Pierre Mustier saw a reduction in assets (which the previous year amounted to 856,3 billion), while the one led by Carlo Messina recorded a growth of over 71 billion.
Between the first two and the others there is a real abyss. Suffice it to say that the third in the standings is Cassa Depositi e Prestiti with 367,3 billion (less than half of the first two) of total tangible assets, followed by Banco BPM with 159,9 billion. Then: Ps (138,9) Where's Banca (125,6) Bnl (78,8) and Bper (70,8)
"Credit quality - underlines Piazzetta Cuccia - remains one of the most complex profiles of Italian banks" even if, compared to the peaks reached in 2015 (198 billion), at the end of last year the mass of net non-performing loans (consolidated data) was equal to 129 billion, a figure which represents a decrease of 35%.
Moving on instead to insurance, there doesn't seem to be a competition. Generali unquestionably and unequivocally dominates the ranking with 66,4 billion in gross premiums. The other nine companies that entered the top ten together stop at 65,8 billion euros. As for the positions, in second place is there Vita Post (20,4), to the third Unipol Group (11,8), fourth Intesa Sanpaolo Life (6,9), followed by Allianz (5,8) in fifth place.
THE OTHER CLASSIFICATIONS
The colossus led by Francesco Starace conquers the first step of the podium of the ranking of holdings Italian companies with 47,6 billion in financial investments. State Railways follow (with 44,6 billion). Further back Atlantia (14,4 billion), third classified.
Between the Sims Sanpaolo Invest stands out, the only company with an intermediation margin exceeding 100 million (141,3) followed by Cordusio Sim and Ersel Sim.
Unicredit Leasing drives instead the ranking of the 28 leasing companies. FCA Bank leads the factoring and consumer credit companies, with financial receivables for 14,5 billion.
Finally, regarding dynamic companies of the Fourth Capitalism, i.e. companies, which in "2017 achieved an increase in sales of at least 20% compared to both the pre-crisis levels of 2007 and those of 2016 and an incidence of the result on 2017 turnover greater than the 4%” – Mediobanca explains in a note – in 2017 Mediobanca had a total of thirteen (four medium-sized and 9 medium-large) of which two are listed.
Mediums: Palfin di Paolo Benettolo & C., SPW – Sportswear Company, Mechanical Construction Luigi Bandera, Omsi Trasmissioni.
Medium-large: Elettric 80, GMG Group, A. Agrati, Atos, Intercos, Finarvedi, Piquadro (Bo), Forgital Italy, El.En..
