Wednesday, August 19, 2015

The 10 Non-Utility Italian Companies With Market Caps Above EUR 10 Bil Had 2014 Total Audited Earnings Improve By EUR 15 Bil From 2013 Total Losses .... But Have Absolutely Collapsed Since 2007 ..... With 2014 Earnings Down 35% From 2010, Down 45% From 2008 and Down 59% From 2007 ..... 2 Year Total Earnings 2013-14 Down 74% From 2 Years 2008-9 ..... 3 Year Total Earnings 2012-14 Down 61% From 3 Years 2008-10 ..... 4 Years Total Earnings 2011-14 Down EUR 71 Bil or Down 82% From 4 Years 2007-10 ..... Economic Actions in Italy Are Not Working For Either the People or For Most of the 10 Largest Companies ..... Italy Should Consider Having Someone Like Ben Bernanke Take a Look

From a review of the superb Google Finance Website and company investor relations websites, I found 10 Non-Utility Companies headquartered in Italy with Stock Market Capitalizations of more than EURO 10 bil.

Excluded from these 10 Italian Companies are the 2 which had their financial statements denominated in US$s.

Below here are the reported Audited Earnings (Losses) From Continuing Operations for each of  these 10 Italian Companies for all years reported from 2007 through 2014, presented in Market Cap order:



2014 2013 2012 2011 2010 2009 2008 2007


Most Audited Audited Audited Audited Audited Audited Audited Audited

Recent Net Net Net Net Net Net Net Net
City 2014 Income Income Income Income Income Income Income Income
Italian Companies HQs FYE (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)


mil Euros mil Euros mil Euros mil Euros mil Euros mil Euros mil Euros mil Euros











Intesa Sanpaolo SpA Turin Dec14       1,358     (4,526)       1,654     (8,127)       2,082       2,769       1,646       3,321
Eni SpA Rome Dec14          850       4,959       4,947       7,877       7,264       5,317       9,558     10,809
UniCredit SpA Milan Dec14       2,512   (12,823)       1,397     (8,226)       1,645       2,035       4,529       6,618
Luxottica Group SpA Milan Dec14          646          549          539          452          383          305          398          498
Assicurazioni Generali SpA Trieste Dec14       1,921       1,657          397       1,153       1,968       1,670       1,064       3,375
Telecom Italia SpA Rome Dec14       1,419        (579)     (1,379)     (4,676)       3,250       2,218       2,217       2,459
Atlantia SpA Rome Dec14          709          709          818          769          708          582          721          376
Snam SpA San Donato Milanese Dec14       1,198          917          779          790       1,106          732          530          594
Fiat Chrysler Automobiles NV London Dec14          632       1,951          896       1,398          222        (345)       1,721       2,054
EXOR SpA Turin Dec14       1,276       4,427       2,377       2,242          571        (997)          428          673











Total all 10

    12,521     (2,759)     12,425     (6,348)     19,199     14,286     22,812     30,777











Earnings % Decline:









….. 2014 Below 2010

-35%






….. 2014 Below 2008

-45%






….. 2014 Below 2007

-59%

















Two Year Earnings:









….. 2013-14

      9,762






….. 2008-9

    37,098






………. 2 Year Earnings Decrease

   






……………Amount

  (27,336)






…………… %

-74%

















Three Year Earnings:









….. 2012-14

    22,187






….. 2008-10

    56,297






………. 3 Year Earnings Decrease









……………Amount

  (34,110)






…………… %

-61%

















Four Year Earnings:









….. 2011-14

    15,839






….. 2007-10

    87,074






………. 4 Year Earnings Decrease









……………Amount

  (71,235)






…………… %

-82%