The Allianz group company, as well as leader in the field credit insurance, Euler Hermes, presented yesterday in Milan at its Italian headquarters, Euler Hermes Italy, Non-Payment Report of Italian companies compared to 2013. This is because, in the context of an economic context in which many Italian companies choose to export to international markets and, therefore, undertake to search for instruments capable of avoid defaults by foreign counterparties, it is good not to forget that the risk of non-payment gives part of a compatriot company still exists.
The Euler Hermes Italia Report (which is attached) illustrates the results of the research with respect to the unpaid debts of Italian companies and what can be deduced from the Company's analysis is a ambivalent situation of Italian debts. Indeed, where missed payments of Italian companies are decreased numerically compared to the previous year (both on the Italian market, -18%, and on international markets, -17%), however, it is significant the increase in average unpaid amounts. The latter data can be seen in theseverity indicator which grew dramatically in 2013 compared to 2012, both for the average amounts in Italy (+9%) and for those abroad (+6%).
The markets that recorded the higher number of outstanding debts are the iron metallurgy and the market for commodities. Commodities, in particular, are those that have reported i higher outstanding levels (missed payments of around €94.000). The regions which then record the largest amounts in non-payments turn out to be: Emilia Romagna, Lombardy and Lazio.
Secondo Michael Pignotti – Head of the Mediterranean Countries, Middle East and Africa Region of Euler Hermes – I am two i phenomena that are having a negative impact on the average levels of non-payments: on the one hand, the economic contraction and, on the other, the credit crunch (o credit crunch) which, together, generate a drop in corporate liquidity, further exacerbating the company's financial situation.
They could be defined as "counter currents"The food market and the textile market who, in the last year, have stood out for one contraction or in any case for a stabilization in the levels of non-payments. However, most sectors are very much in the “active” phase from the perspective of bad debts.
According to the predictions of Euler Hermes Italy, in 2014 we should see a improvement with respect to the severity of the amounts in our country but, for this improvement to be significant, they will be needed structural reforms by the Government to restart growth in all sectors.
Attachments: CS Report missed payments ita – Ediz 2014 – final.pdf
