A recent report entitled “Financial Statement Analysis of World Ceramic Tile Manufacturers,” produced by the Acimac research department, contains economic and financial data for the three-year period from 2011-2013. The report covers 288 companies operating in 41 countries, including 89 in Italy, 70 in Spain, 33 in other EU countries, 15 in non-EU European countries (with a prevalence of nine Russian companies), 70 in Asia and 11 in the rest of the world (Egypt, Mexico, Tunisia, Argentina and Venezuela). In addition to analyzing the performance of individual companies, the study examines the average results of the regional groupings, including Italy, Spain, other EU countries, non-EU Europe and the rest of the world.
The Italian tile industry is performing strongly, with large export volumes and a steady increase in selling prices as a result of a shift toward high added-value products. One of the key findings of the 2013 analysis and of the three-year averages is the Italian ceramic industry’s growth in investments in capital goods and production equipment. This is reflected in the increase in the ratio of assets per employee (about €360,000, or ~ $402,512), which is among the highest of all tile producer countries) and in the industry’s leading position in terms of production efficiency. Its added-value margin (the ratio between added value and turnover) rose to 30.1% in 2013 and is the highest in the world, confirming an efficient use of production resources. The overall financial structure is also satisfactory, with an increase in equity ratio over the three-year period.