We are delighted that Lincotek has been placed 25th in a list of the top 500 companies in the Parma province in Italy, compiled by accountancy and consultancy firm PwC. Working in collaboration with economics experts from Parma University and the newspaper Gazzetta di Parma, they analyzed a number of key indicators for businesses selected on the basis of their 2019 turnover.
This part of Northern Italy enjoyed uninterrupted growth since 2012, but as we are all aware, suffered a big setback with the coronavirus pandemic in 2020. The data in the report gives a real sense of long-term trends though, showing that last year the total revenue of the Top 500 businesses was €25.7bn, an increase of over 6% on the year before. Corporate profits and profitability indicators were, however, down.
With a strong asset base, the area is well placed to bounce back as the Covid-19 crisis recedes and vaccines are rolled out. Investment growth, at the time of the report, was measured at over 9%, suggesting considerable resilience and potential for expansion in the coming years.
Although 2020 has been an extremely challenging year, we can see that the economic fundamentals are strong and that our business and our region are in a good position to prosper in the years ahead.
It’s heartening to see this recognition of our business success and we look forward to working in partnership with our customers to take Lincotek to the next level.