Enel is the first Italian company by turnover, Intesa Sanpaolo the first bank by total tangible assets, Generali maintains absolute dominance in the insurance world. But in this panorama dominated by the big players, some more dynamic manufacturing companies emerge which in 2020, despite the pandemic, achieved an increase in sales of at least 20% compared to the 2019 level.
These are the main data contained in the 56th edition of the study on the main Italian companies carried out by the Mediobanca Studies Area. The report analyzes the financial statements of 3.437 companies: 2.573 industrial and service companies, 252 holding companies, 27 SIMs, 29 leasing companies, 39 factoring and consumer credit companies, 403 banks and 114 insurance companies.
RISKS AND GROWTH OPPORTUNITIES
The worst is now behind us. After the crisis caused by the Covid-19 pandemic, according to estimates by the International Monetary Fund, the world economy will grow by 5,9% in 2021 and by 2,9% in 2022. A similar trend also for Italy which is expected to grow by 5,8% in 2021 and 4,2% in 2022. However, these forecasts are hung by risks which not only concern the trend of the pandemic and the vaccination campaign, but also the tensions on energy, gas and oil prices and the rise in the prices of raw materials due to their scarce availability. “What is missing are timber, plastic, iron, steel, copper, tin, aluminum and, consequently, the semiconductors that support the electronics, telecommunications, household appliances, automotive and component industries. The raw materials node is hypothesized to be of a temporary nature, but there is the risk that for some sectors it could also become structural”, explains Mediobanca.
However, in addition to the opportunities brought about by the Pnrr, there will also be a recovery in the demand for exports in key markets that will affect the manufacturing sector. “Thus, if in 2020 the set of industrial and service companies recorded a drop in turnover of 11,7%, for 2021 the Mediobanca Research Area forecasts an increase of approximately 8% and a further +6,5 .2022% in XNUMX”, reads the report.
THE INDUSTRY TOP 10: WHO BILLS THE MOST
For the second consecutive year, Enel confirmed as the leading Italian industrial group with a turnover of 62,6 billion euros (-19,1%). It is still in second place, with 44 billion in revenues (-37,1%). Eni, Followed by gse, which is placed on the third step of the podium with a turnover of 26,3 billion dollars. After the energy-oil trio, the next positions open to other sectors, such as manufacturing and services. In fact, in fourth place we find FCA Italy with 20 billion in revenues (-18,1%), fifth Telecom Italy with 15,6 billion (-6,4%). They follow Leonardo (13,4 billion, -2,7%), state Railways (10,5 billion, -12,3%) ed Edition of the Benettons (10,4 billion, -38%). They close the top 10 Prysmian with 10 billion (-13%), e Poste Italiane, with 8,5 billion (-4,7%).
New entries in the Top20, underlines Mediobanca, are: Italpreziosi (6,9 billion), Eurospin Italia (6,3 billion), Fincantieri (5,8 billion) and Lidl Italia (5,5 billion).
Moving from turnover to number of employees, the first in the standings is Poste Italiane with over 124 employees, followed by Ferrovie dello Stato (81.409 units); Enel (66.717) and Edition (57.606).
BANKS AND INSURANCE
A surprise comes from the banking sector, where in 2020 Intesa Sanpaolo surpasses Unicredit for total tangible assets of 994,3 billion against 929,3%. Third in the standings, but with a wide gap, is Cassa Depositi e Prestiti (410,3 billion), followed in fourth place by Banco BPM (182,5 billion). “Regarding credit quality, after the peak of 2015 (198 billion), at the end of 2020 the mass of net non-performing loans of institutions amounted to 49 billion, down by 23,9% compared to 2019 which follows the -25,6 % of the previous two-year period.
Moving on to insurance, the absolute domination of Generali, with gross premiums amounting to 67,4 billion. Closely followed by the Poste Vita group (16,9 billion) and Unipol Gruppo (11,9 billion
HOLDING, SIM AND LEASING
Enel it also ranks first in the ranking of Italian holding companies for financial investments, with 54,1 billion euros and precedes Ferrovie dello Stato (with 48,3 billion). Further back Atlantia (17,3 billion), third classified. Between Yes on the other hand, Sanpaolo Invest Sim dominates the ranking for intermediation margin, the only company to exceed 100 million (139,5 million to be precise), followed by Cordusio Sim (71,2 million) and Equita Sim (57,2 million ).
UniCredit Leasing finally leads the ranking of the 29 leasing companies for assets per lease. Findomestic Banca leads the factoring and consumer credit companies, with financial receivables of €19 billion ahead of FCA Bank (15,7 billion).
DYNAMIC COMPANIES
In this context, the Mediobanca report highlights the companies that grew the most in terms of turnover and profitability in 2020, with double-digit increases despite the difficulties triggered by the Covid crisis. In detail, these are Monge & C. (Cn), Macron (Bo), Fratelli Ferro – Semolerie Molisane (Cb), Cappellotto (Tv) and Labomar (Tv), Diasorin (Vc), Stevanato Group (Pd), Pietro Fiorentini (Vi), GVS (Bo) and Copan Italia (Mn).
From a sectoral point of view, however, the performance of the food sector stands out (with Newlat, Pastificio Luigi Garofalo, Lactalis, Giaguro, Globalcarni); food distribution (with Conad Centro Nord, Bofrost, Pac 2000, Tigros, Eismann); Pharmaceuticals (with Farmaè, Takeda, Gilead, Pfizer, Gsk, Consumer Healthcare); of Information Technology (with Digital Bors, Altitude, Wiit, Ericsson It Solutions, Fincons).
