Italian medium-sized enterprises

Mediobanca-Unioncamere annual survey of medium-sized Italian businesses (October 2020)

This is a survey compiled by Mediobanca's Research Department in conjunction with the Centro Studi of Unioncamere with the objective of producing a report on medium-sized Italian businesses. The Bocconi University of Milan took part in the early stages of the project from 2000 to 2002 via its CREA "Furio Cicogna" Research Centre, while other Italian universities have also been involved since 2003.

The project comprises a survey of all medium-sized enterprises based in Italy. The annual report contains:

a) a database of financial aggregates compiled from balance-sheet data, broken down by region and sector, and including the main indicators. Data was first collected in 1996;

b) comments on the main balance sheet/P&L trends;

c) additional papers by academics, who are generally economists with particular expertise in a given area;

From 2015 the publication collects in one volume data for Italy, North West, North East, Center NEC, and Center South Islands. Up to 2013 three publications have been issued and collect data over a ten-year time span. The first covered firms in all regions of Italy (1st edn 2003); the second firms specifically in the North West of Italy (1st edn 2003); and the third those in the North East (1st edn 2001). Volumes are also available as from 2003 containing comments by the academics and observations by the entrepreneurs who took part in the presentations.

Italian medium-sized companies: location in 2017 (last census)

F.A.Q. - Frequently Asked Questions

What is the purpose of this project?

It is a survey of all medium-sized businesses incorporated as companies in Italy.

When did it start?

It officially began with the signing of an agreement between Mediobanca, Unioncamere and the Bocconi University on 6 April 2000. The Bocconi University of Milan took part in the early stages of the project from 2000 to 2002; since 2003 this has been extended to the other Italian universities as well.

What does the published material consist of?

Reports include financial aggregates compiled from balance sheet data, comments on operating trends derived from interviews with entrepreneurs, a commentary on the main trends reflected by the figures and the information included, and additional papers by academics.

How is a "medium-sized business" actually defined?

For the purposes of this project, a "medium-sized" business is one which is incorporated as a company and has an annual turnover of between EUR 16m and EUR 355m, between 50 and 499 employees, and which is not controlled by a larger or a non-Italian firm.

How representative is the survey?

It is intended to reach the "universe" in the sense that it represents all medium-sized businesses incorporated as companies in Italy.

Are any small businesses included?

Obviously not, except insofar as they figure in the consolidation of medium-sized companies, in which case they are included under the larger firms' consolidated figures. It should also be remembered that most small businesses in Italy are family-run or of an artisan nature. They are therefore not always incorporated as companies and are not obliged to publish their financial results.

Who decides which topics are to be dealt with in greater depth?

The Advisory Committee decides on and co-ordinates all research topics. The Committee is made up of the heads of Mediobanca's Research Department and the Centro Studi of Unioncamere, as well as the academics engaged in the research itself.

Is it possible to have data on individual companies that are included in the aggregates?

No. The project is concerned exclusively with aggregates and makes no provision for publishing figures on an individual basis.

What criteria are used to restate the balance sheet data?

The same as those used in Dati cumulativi (Financial aggregates). See that publication for further information.

Has information given in this survey been reviewed or used in other publications?

Literature on Italian medium-sized enterprises has been growing to a huge amount since the starting of the research. For a selection of the most relevant contributions, please see the Fourth Capitalism pages.

Have any similar surveys been undertaken in Italy?

No. This is the only existing survey of medium-sized businesses.

Download

Medium-sized industrial companies - surveys

Medium-sized Italian businesses (2019 edition)
Survey in PDF format (italian version) | Appendix in PDF format (italian version) | Tables in PRN format - Italy | Tables in PRN format - North-Western Italy | Tables in PRN format - North-Eastern Italy | Tables in PRN format - Center NEC Italy | Tables in PRN format - Center Southern and Islands Italy

Additional papers:
L. Caprio - Groups of medium-size businesses (2002)

Medium-sized Italian businesses (2008 edition - historical statistics 1996-2005)
Survey in PDF format | Tables in PRN format

Medium-sized businesses in North-Eastern Italy (2008 edition - historical statistics 1996-2005)
Survey in PDF format | Tables in PRN format

Medium-sized businesses in North-Western Italy (2008 edition - historical statistics 1996-2005)
Survey in PDF format | Tables in PRN format

Mediobanca and Unioncamere presentations

Medium-sized businesses (2007-2016)

Rome, 15 February 2019
Mediobanca | Unioncamere (italian version)

Medium-sized businesses (2006-2015)

Milan, 22 November 2017
Mediobanca | Unioncamere (italian version)

Medium-sized businesses (2005-2014)

Rome, 14 June 2016
Mediobanca | Unioncamere (italian version)

Medium-sized businesses (2004-2013)

Milan, 29 May 2015
Mediobanca | Unioncamere (italian version)

Medium-sized businesses (2002-2011)

Rome, 07 November 2013
Mediobanca | Unioncamere (italian version)

Medium-sized businesses (2000-2009)

Milan, 13 April 2012
Mediobanca | Unioncamere

Parma, 22 May 2012
Mediobanca | Unioncamere

Lecco, 30 May 2012
Mediobanca | Unioncamere

Medium-sized businesses (1999-2008)

Rome, 20 April 2011
Mediobanca | Unioncamere

Udine, 17 May 2011
Mediobanca | Unioncamere

Cuneo, 24 May 2011
Mediobanca | Unioncamere

Medium-sized businesses (1998-2007)

Milano, 11 March 2010
Mediobanca | Unioncamere

Ravenna, 7 May 2010 (North-Eastern)
Mediobanca | Unioncamere

Genoa, 24 May 2010 (Nord Ovest)
Mediobanca | Unioncamere

Medium-sized businesses (1997-2006)

Roma, 25 March 2009
Mediobanca | Unioncamere

Bergamo, 23 April 2009 (North-Western)
Mediobanca | Unioncamere

Ferrara, 8 May 2009 (North-Eastern)
Mediobanca | Unioncamere

Medium-sized businesses (1996-2005)

Milano, 15 February 2008
Mediobanca | Unioncamere

Alessandria, 1 April 2008 (North-Western)
Mediobanca | Unioncamere

Venice - Mestre, 7 April 2008 (North-Eastern)
Mediobanca | Unioncamere

Milano, 21 April 2008 (Lombardy)
Mediobanca | Unioncamere

Medium-sized businesses (1996-2003)

Roma, 12 December 2006
Mediobanca | Unioncamere

Forlì, 30 January 2007 (North-Eastern)
Mediobanca | Unioncamere

Brescia, 26 February 2007 (North-Western)
Mediobanca | Unioncamere

Medium-sized businesses (1996-2002)

Milano, 18 November 2005 (North-Western)
Mediobanca | Unioncamere

Reggio Emilia, 27 January 2006 (North-Eastern)
Mediobanca | Unioncamere

Napoli, 9 February 2006 (Southern)
Mediobanca | Unioncamere

Testimonies from entrepreneurs and comments from academics

2017 Comments and testimonies

2016 Comments and testimonies

2015 Comments and testimonies

2013 Comments and testimonies

2012 Comments and testimonies

2011 Comments and testimonies

2010 Comments and testimonies

2009 Comments and testimonies

2008 Comments and testimonies

2007 Comments and testimonies

2006 Comments and testimonies

2005 Comments and testimonies

  • Canali
    Milano, 18 November 2005 - Stefano Canali
  • Aethra
    Ancona, 18 March 2005 - Giulio Viezzoli
  • Findest Technologies
    Verona, 20 January 2005 - Federico de' Stefani

2003 Comments and testimonies

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