In Fonderia 6 2023

0,6%
0,6%
3,9%
1,9%
6,0%
-0,6%
-1,8%
IN PRIMO PIANO
-0,6%
-1,8%-12,3%
Acciaio Alluminio Ghisa Superleghe Zinco e Altri nf
Steel Aluminiun Cast iron Superalloys Zinc and other nf
2021 2022 -12,3%
Acciaio Alluminio Ghisa Superleghe Zinco e Altri nf
Steel Aluminiun Cast iron Superalloys Zinc The and overall other nf profitability ratio, the ROE (Return
On Equity), rose however from 0.9% in
ROI fonderie ROI fonderie/Foundries ROI
2021 2022
2021 to 8.2% in the last year of analysis (fig.
ROI fonderie
5,0% 3). The leap in 2022 is also remarkable in relation
to profitability dynamics over the last
4,8%
4,1%
+254,6%
six years: the last year’s value is above all
4,8%
5,0% other years, after two years of rapid decline
4,1%
2,5%
between 2019 and 2020 and a 2021 ROE of
+254,6%
just above the previous year’s value, an alltime
1,4%
low.
2,5%
In contrast with the turnover figures, zinc
0,2%
foundries registered the highest value (15.9%),
2017 2018 2019 2020
0,2%
1,4%
2021 2022
with cast iron coming next (12.4%); aluminium
foundries achieved a ROE of 6.0%, steel
foundries a ROE of 3.9%, and super alloy
VA/Ricavi Fig. 5 nelle fonderie
foundries a loss-making ROE of -12.3% (fig. 4).
2017 2018 2019 2020 2021 2022 The significant growth in the sector’s revenues
brought with it an important increase
VA/Ricavi in profitability and, in particular, profitability
30,6% nelle fonderie
30,0% 30,1%
related to invested capital and the operating
VA/Ricavi nelle fonderie/VA/Revenues 29,7% in foundries
income it generated. ROI (Return On Investment,
28,3%
i.e., the metric that measures operat-
30,6%
ing profitability considering only Operating
30,0% 30,1%
29,7%
26,8% Assets, excluding financial assets, and not all
Invested Capital) grew in 2022 to 5.0% and
28,3%
rose to the highest level in the last six years,
-5,6%
recovering especially on the last two, where
26,8%
there had been a considerable reduction.
2017 2018 2019 2020
Growth over 2021, in particular, was +254.6%
2021 2022
-5,6%
(fig. 5) with all the underlying segments, with
the exception of super alloy foundries, seeing
their ROI expanding.
Fig. 6
2017 2018 2019 2020 2021 2022
Ebitda/Ricavi nelle fonderie
Ebitda/Ricavi nelle fonderie/Ebitda/Revenues in foundries
Fig. 7
9,3% 9,2%
Debt/Equity Fonderie
8,1%
6,8%
+24,7%
7,8%
9,7%
2017 2018 2019 2020 2021 2022
INTERMEDIATE MARGINS
The year 2022 shows less strain on raw material
costs balanced however by an increase
in the impact of service costs and, more generally,
of all those external inputs such as
third-party assets and miscellaneous operating
charges, including energy utilities.
After the very pronounced increase in raw
material costs in 2021, whose impact on revenue
rose by +15.3% over the previous year,
in 2022 this trend was not negative, but still
significantly reduced (+1.1%). Returning to
positive territory, however, was the increase
in the impact of external costs, which rose to
+5.3% over 2022.
It was precisely these increases that had a
negative impact on value added margins,
which were affected by the overall economic
impact of external production factors. The
Value Added, when put in relation to reve-
16
1,44 1,44
1,45
1,44
1,41
In Fonderia