Business landscape. Italy now boasts 274 companies with annual revenues surpassing €1 billion, showcasing the nation’s resilience and growing stature on the global stage.
- A recent report from Area Studi Mediobanca examines the financial performance of 2,881 Italian companies, specifically focusing on data from 2023.
- Of these, 2,353 are industrial and service firms, complemented by 30 leasing, 35 factoring and consumer credit companies, 365 banking institutions, and 98 insurance firms.
- Notably, the manufacturing sector shines with 13 mid-sized companies designated as “Fourth Capitalism” champions, exhibiting impressive growth and profitability.
Energy sector dominance. Italy’s energy sector remains in the lead, with Eni topping the revenue chart at €93.7 billion, just ahead of Enel at €92.9 billion, and GSE following with €55.1 billion.
- This trend persists in 2024, as Eni’s first-half revenue reached €44.7 billion, outpacing Enel’s €38.7 billion.
- Nine of Italy’s top 20 revenue earners are in the energy sector, underscoring its critical role.
- Other prominent companies include Stellantis Europe with €27.8 billion, Telecom (€16.1 billion), Prysmian (€15.4 billion), and Leonardo (€15.3 billion).
Growing billion-euro club. Of the 1,571 companies analysed, 274 reported revenues exceeding €1 billion, collectively generating €1.075 trillion.
- Notably, 34.2% of this amount stems from publicly controlled firms.
- Compared to 2003, when only 160 companies reached this milestone, Italy’s economy has transformed, with average turnover for these firms now at €3.9 billion and an increase in employment levels.
Top earners and employers. In profitability, Eni once again takes the lead with €4.8 billion in 2023, followed by Enel (€3.4 billion), Stellantis Europe (€2.2 billion), Poste Italiane (€1.9 billion), and Ferrari (€1.3 billion).
- Poste Italiane also ranks as the largest employer with 119,310 workers, with Ferrovie dello Stato in second at92,446.
- Noteworthy in terms of gender balance, Poste Italiane and Oniverse Holding boast female representation at 53% and 89%, respectively.
- Intesa Sanpaolo maintains its stronghold in the banking sector, followed by UniCredit and Cassa Depositi e Prestiti, with the top two banks’ tangible assets collectively equating to 83% of Italy’s GDP.
- Generali continues to dominate the insurance market.
Sectoral champions. The report highlights leaders in various industries: Parmalat in food, Coca-Cola HBC Italia in beverages, Sofide in paper, and Menarini in pharmaceuticals, with Chiesi Farmaceutici and Comifar also performing well.
- Ikea Italia Retail leads in wood furniture, while Nuovo Pignone Holding is the frontrunner in electro-mechanics.
- In fashion, Prada, Gucci, and Luxottica set the pace, while Stevanato Group stands at the top in glass production.
Fourth capitalism. Finally, the report identifies 13 mid-sized, family-owned companies as Italy’s most dynamic businesses in the “Fourth Capitalism” category.
- These companies achieved revenue growth of at least 20% from 2022 to 2023, with a steady earnings ratio of 4% or more.
- Operating across sectors like pharmaceuticals, mechanics, food, and clothing, firms such as Dompè Holdings and Pharmanutra embody the innovative spirit of Italian enterprise.
