Enel surpasses Eni and takes first place in the ranking gods of the heavyweights of Italian industry. In 2019 the turnover of the company led by Francesco Starace rose by 4,4 billion euros, reaching 77,4 billion. On the other hand, the oil giant falls to second place, whose revenues in 2019 stood at 69,9 billion euros from 75,8 in the previous year. In third place, but with a large gap from the first two, we find Gse with a turnover of 29,7 billion euros.
These are the main innovations contained in the 55th edition of the study on the main Italian companies carried out by the Mediobanca Research Area. The report analyzes the financial statements of 3.449 companies divided according to the sector in which they operate.
THE RANKING OF ITALIAN INDUSTRY
The top three places in the ranking based on turnover, as mentioned, are dominated by the energy-oil giants. From fourth place onwards however, the positions open up to other sectors. The wooden medal goes to FCA Italy with a turnover of 24,4 billion euros, followed by Telecom Italia (18 billion), Edizione (16,8 billion) and Leonardo (13,4 billion). Eighth place for Ferrovie dello Stato (12 billion), ninth for Prysmian (11,5 billion), Saras closes the Top10 with 9,4 billion euro.
In total, among the top 20 Italian companies by turnover we find nine companies that belong to the energy sector (oil or electricity), six to the management of infrastructures or services (commercial, telecommunications, catering, postal, distribution or transport) , and five to manufacturing (FCA Italy, Leonardo, Prysmian, Saipem and Parmalat). Nine groups are under public control, four under Italian private control and seven under foreign ownership.
Between these, the company with the largest number of employees (equal to 129 thousand) is Poste Italiane which precedes Ferrovie dello Stato (83.764 units) and Edizione (80.044). Followed by Enel (50) and Telecom Italia (68.253), with more than 51.912 employees.
In addition to the primacy in terms of turnover, Enel conquers two more top positions: it is a champion of financial debts (with a balance at the end of 2019 of 62 billion) but also of profits, equal to 7 billion euros in the two-year period 2018-2019. Always taking into consideration profits, on the second step of the podium we find Eni (4,3 billion), followed by Poste (2,7 billion). On the other hand, always in the two-year period, FCA Italy (1,6 billion), Whirlpool Italia Holdings (700 million) and Permasteelisa (600 million) made a loss.
BANKS AND INSURANCE
2019 confirms the trend of previous years. Between the banks, Unicredit and Intesa Sanpaolo remain at the top of the rankings with 852,8 and 806,9 billion respectively of total tangible assets. Third place for CDP (385,8 billion), fourth for Banco BPM (165,8 billion). “Regarding credit quality, after the peak of 2015 (198 billion), at the end of 2019 the mass of net non-performing loans of institutions amounted to 64 billion, down by 25,6% compared to 2018 which follows the average -28% of the previous two years”, underlines Mediobanca
Moving on to insurance, Generali dominates the top 10 with gross premiums of €68,2 billion in 2019. Followed by the Poste Vita group (€18 billion) and Unipol Gruppo (€13,9 billion).
THE OTHER CLASSIFICATIONS
“Enel is also first in the ranking of Italian holding companies for financial investments. The multi-utility led by Francesco Starace, thanks to financial investments of 53,8 billion, precedes Ferrovie dello Stato (with 48 billion). Further behind Atlantia (16,6 billion), third classified”, continues the report.
Among the Sims, Sanpaolo Invest Sim leads the ranking in terms of intermediation margin, the only company to exceed 100 million (143,5, to be precise), followed by Cordusio Sim (69,9 million) and Equita Sim (53 million ).
Unicredit Leasing instead leads the ranking of the 29 leasing companies for assets per lease. Findomestic Banca leads the factoring and consumer credit companies, with financial receivables for 19 billion ahead of FCA Bank (16,6 billion).
ESTIMATIONS FOR 2020
The Mediobanca report also contains "an interview carried out in the second half of September" among Italian manufacturing companies grappling with the economic crisis triggered by the Covid-19 pandemic. According to what emerges, companies expect to close the year with sales down by 11,1% (-15,7% in the first half, +5,4% in the second). Companies in the fashion sector will suffer the most: textiles (-26,7%), clothing (-25,2%), hides and leather (-23,2%). Double-digit reductions also for means of transport ( -21,7%), metal treatment (-17,7%), metallurgical (-16%), wood and furniture (-14,4%), other personal and household goods (-14,2% ), electro-mechanical (-13,6%) and machinery and equipment (-11,7%).
The building industry is trying to contain the damage (-9,4%), while 2020 will close positively in the canning industry (+1,3%), confectionery (+2,5%), dairy (+4,9%), other food industries (+5,3%).
