Il Palagio tops company balance sheet rankings

Dec 13, 2002

Il Palagio tops company balance sheet rankings13 December 2002 - The Italian ceramic company with the highest ratio between gross operating margin (GOM) and turnover in 2001 was Il Palagio, a leading manufacturer of Impruneta terracotta. The figure of 28.03% was obtained with a GOM of 1,848,000 euro and a turnover of 6,594,000 euro. The Florence-based Group, which recently acquired control of Il Ferrone, a company that has been producing traditional terracotta for decades, tops the rankings of "Profit and loss accounts of ceramic companies" published in the latest issue of Tile Italia. The survey, produced in cooperation with the Sassuolo-based corporate finance studio Alfredo Ballarini, is based on official balance sheets and provides the rankings of the 99 leading companies and an analysis of the profit and loss accounts of 132 ceramic sector companies.
After Il Palagio, the leading companies in terms of profitability are Della Faella(Cotto Pratigliolmi), with a GOM of 2.7 million euro against a turnover of 10.6 million euro (25.79%); Granito Forte with a GOM of 5.5 million euro against a 22.7 million euro turnover (24.32%); Granitifiandre, with a consolidated turnover of 141.6 million euro and a GOM of 34.2 million euro (24.16%).

Attachments: Balance sheets rankings published by Tile Italia The profit and loss accounts of the 132 leading companies

In-focus section: Profit and loss accounts reveal balance sheet difficultiesTile.jpgProfit and loss accounts reveal balance sheet difficultiesProfit and loss accounts reveal balance sheet difficulties

An analysis of the year 2001 balance sheets of the 132 largest Italian ceramic companies conducted by the Sassuolo-based corporate finance studio Alfredo Ballarini for Tile Italia reveals a fall in gross operating margin (GOM), an increase in warehouse stock and a rise in value of sales of just 0.4%. The GOM, taken by the analysis as one of the most direct indicators of the sector's efficiency, fell by almost three percentage points against 1999 to 11.08% of turnover. In 2001, warehouse stock accounted for 29.3% of turnover, almost four points higher than the previous year.
Finally, the sales of the 132 companies examined increased by 0.4% in value but fell in terms of quantities. The analysis also showed that average prices rose slightly but at less than the rate of inflation. The difference between costs and revenues is reflected in the variation in GOM. The values that have fallen include value added (from 36.57% of turnover in 1999 to 33.48% in 2001) and pre-tax profits (from 6.25% to 4.76% of turnover).Top list: from 1 to 51Classifica1-51.jpgTop list: from 52 to 96Classifica52-90.jpgThe profit and loss accounts of the leading companiesContoEconomico.jpg