s-peek’s magnifier: the world’s oldest italian companies
When it comes to economy, Italy seldom occupies the top-ranking position. Yet, also in this field there can be surprising outcomes. Of the 10 oldest company in the world 5 are Italian. We have checked with s-peek the financial statement of the most enduring and resilient companies made in Italy: here is how they fare today.
Pontificia Fonderia di Campane Marinelli (1040)
The Pontificia Fonderia di Campane Marinelli (Marinelli Pontifical Foundry) dates its establishment back in 1040, although the first written records are from 1339, as Nicodemo Marinelli "Campanarus" casted a bell of 200 kg for a church close to Frosinone. The company, headquartered in Agnone, is specialized in bellfounding and still applies today the same production technique used during the middle age. Being a partnership, the Pontificia Fonderia di Campane Marinelli isn’t obliged to issue the financial statement. The number of employees, the sector comparison and the turnover guesstimated according to the two previous data, are in these cases the variables considered by the MORE methodology to rate the company. In 2017 the foundry obtained a MORE Credit Rating of BB, while the commercial credit limit amounts to 6.5 thousand euros.
Barone Ricasoli (1141)
In Tuscany, among the hills of the Chianti, there is the Castle of Brolio, owned since over a thousand years by the Ricasoli family and headquarter of the Barone Ricasoli winery. The first records date the company back to 1141, but the family name was already listed among the feudal lords of Charlemagne during the 7th century. Among its best-known family member there is Bettino Ricasoli, second Italian Prime Minister after Cavour. Since 1993, the company has been managed by Francesco Ricasoli, 32nd Baron of Brolio.
Today the Barone Ricasoli is a balanced company with a turnover of 16.9 million and a EBITDA of 2.6 million euros. The MORE Credit Rating outcome is BB, while the commercial credit limit amount to 260 thousand euros.
The Barovier&Toso is a hand-crafted glassmaker factory specialized in Venetian glasses and headquartered in Murano. The company was founded in 1295 by the Barovier, a family settled in Murano since the beginning of the 13th century. The Barovier’s glassworks, especially the ones realized by Angelo Barovier in the 15th century, are worldwide renowned and some of them are exposed in museum and art-galleries. In 1942 the Barovier merged with the F.lli Toso glass factory, giving the company its current name.
Today the Barovier&Toso is an healty company with more than 70 empoyees. In 2016 the turnover amounted to 12.8 million euros, while the total assets to 20.2 million. In the same year the company got a total rating of BBB, but especially good was the solvency ratio, which got a partial rating of A.
Founded in Florence by Jacopus Torini, the jewelry Torrini belongs to the world’s oldest goldsmith family. The estabilishment is dated back to 1369, as the company’s trademark was registered at the local Guild of cuirass makers, locksmiths and blacksmiths. In 2012 the company’s historic jewelry store in Pizza del Duomo in Florence was downsized due to the economic downturn and the society was taken over by Tifran Gioielli, also owned by the Torrini family. In the last years the company has shown strong recovery capabilities and in 2016 it improved its MORE rating class from BB to BBB. EBITDA also increased by 8 thousand, while the turnover reached 228 thousand euros.
Marchesi Antinori (1385)
Once again a winery, once again in Tuscany. In 1385 Giovanni di Piero Antinori joined the Florentine Winemaker Guild starting a 26 generation-long family tradition in wine production. To play fair, the Antinori family had already shown remarkable commercial skills in the 14th century with the silk traders Filippo e Chiaro Antinori, but it was only in the wine production that they revealed outstanding entrepreneurial capabilities. With a MORE Rating Class of A, the Marchesi Antinori is still a fully healthy company with more than 250 employees. The turnover of 2016 amounts to 501 million, while the credit limit is of 2 million euros.