Districts rebound after the pandemic: turnover grows by 16.7%

MILAN – The growth of Italian industrial districts continued in 2022 as well. This is what the Economic and Financial Report of Industrial Districts 2022 carried out by the research and studies department of Intesa: exports reached the record figure of 153 billion euros, 25 billion more than in 2019 (+19.9% ​​at current prices), while the turnover, according to estimates, recorded an increase of 16.7% in median terms, showing a better dynamic than the manufacturing complex (+15.2%).

For 2023-24 Intesa Sanpaolo estimates a nominal growth in turnover even higher than manufacturing (+3.3% vs +0.9%), in a context of practically unchanged producer prices. Already in 2021 district businesses had recorded a turnover of 5.2% higher than the levels of 2019, two percentage points more than non-district areas and strengthened profitability, with an Ebitda rising to 7.7%, three tenths of a point more than in 2019.

This year, the top three places in the ranking of the best Italian districts for growth, exports, profits and financial solidity are occupied by gum from Sebino from Bergamo, prosecco from Conegliano-Valdobbiadene and wines and spirits from Friuli.

The analysis of the financial statements of more than 90 thousand companies, carried out by the research and studies department of Intesa Sanpaolo, highlights the post-pandemic recovery of 22,302 companies belonging to 159 industrial districts, compared with 68,377 non-district companies specialized in district production.

There is a better dynamic of district businesses which in median terms already in 2021 recorded a turnover of 5.2% higher than the levels of 2019, two percentage points more than non-district areas.

Profitability also strengthened: the gross operating margin in the districts rose to 7.7%, three tenths of a point more than in 2019. Against a rapid recovery, the increased complexity of the macroeconomic context accentuated the gaps between who is more competitive and who is more in difficulty: in most sectors, in fact, the share of companies with a negative gross operating margin has increased and the incidence of companies with unitary margins higher than 20% has increased. In the fashion system, companies strongly involved in the luxury supply chains in 2021 showed a decidedly higher unit margin than that of marginal or non-continuous suppliers (9.4% compared to 7%).