Sixteenth Annual Report on the Economy and Finance of Industrial Districts
Intesa Sanpaolo presented the Sixteenth Annual Report on the Economy and Finance of Industrial Districts, produced by its Research Department, which offers an up-to-date snapshot of the economic and income situation of district companies.
The Report paints a comforting picture of the state of health of district companies, despite the period of strong turbulence and uncertainty of the last few years: capitalisation strengthened further in 2023, turnover is estimated to have increased by 20% compared to pre-Covid levels and exports remained at the record levels of 2022. Growth is also expected to gradually accelerate in 2025.
Among the districts in the spotlight are those specialised in mechanical engineering and agribusiness, due in particular to their performance in international markets.
The double green and digital transition continues to be the main driver of investments in Italy and business districts, yet these are challenges that require a skilled workforce.
In the coming years, the process of competitive revitalisation of the Italian district system will therefore be able to continue: technology and human capital will remain the priorities, while climate change will impose an increasing focus on the environment, making the green transition increasingly necessary.
“The changes in Italian companies are not just radical, they would have seemed impossible a mere few years ago: we are now doing better than the rest of Europe; productivity is growing.
This survey highlights how it is districts that are driving the positive aspects of this change: investment, the use of new technologies – including digital technologies – patents, financial strength and liquidity are particularly prominent.
In order to support this leap in investment and productivity growth, over this same timeframe Intesa Sanpaolo has made available more than €400 billion of the approximately €200 billion envisaged in the NRRP"
Gian Maria Gros-Pietro, Chairman of Intesa Sanpaolo
Highlights from the Report:
- The turnover of district companies is estimated to have risen by 0.8% in 2023 at current prices and by more than 20% from pre-Covid levels in 2019.
- The expected turnover growth for district companies is 1.1% in 2024 and 2% in 2025.
- In 2023 district exports remained at the record levels of 2022, with mechanical engineering and agribusiness in the spotlight. The trade surplus rose by €4.4 billion (+4.8%) to reach a new high of €94.3 billion.
- The capital strengthening process continues: as a percentage of liabilities, equity has risen above the 30% threshold in districts–a percentage that has doubled over the last 20 years. This level of capitalisation offers protection against market risks.
- Investments to increase the efficiency of production processes and energy self-generation are on the rise. A quarter of district companies managed to limit the increase in their bills over the five-year period 2019-23 to 4%.
- The double green and digital transition will be the main driver of investments: companies with 4.0 investments obtain both growth and productivity benefits.
- Technology, human capital and climate change risk management will be the priorities to be addressed in the coming years.
Here the slides of presentation for the Report on the Economics and Finance of Business Districts (Italian only)
Last updated 17 April 2024 at 18:59:07
