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Gemmo SpA official homepage  »  NEWS AREA  »  Gemmo Spa, the financial statements in the centenary year

September 2020, one hundred years after its establishment, the numbers in the financial statements 2019 show a company in an excelent financial position.

There are years that have a significant weight and value in the history of a big company, and for Gemmo Spa 2019 was a special year: the year of the Centenary. A goal that very few companies in Italy and in the world are able to achieve or even approaching, especially with regard to its particular business area: Facility Management and Energy Efficiency in large public infrastructures. 

One hundred years after its establishment, Gemmo is one of the most important players in the field of Facility Management and Energy Saving.  Numbers in the financial statements 2019 show a company in an excelent financial position, which reached a turnover of more than 148 million euros, an EBITDA of 13 million euros and a profit of 5.6 million euros.

Gemmo's Backlog

Altri clienti: Other clients 29%
Clienti PF: PF Clients 71%
Clienti: Clients
Impianti: Systems 9%
Servizi: Services 91%
Servizi: Services
Altro: Other 1%
Infras.: Infrastructures 5%
Edifici: Buildings 8%
Ospedaliero: Hospitals 86%
Segmento: Market Segment
Oltre 53%: Over 53%
Anno: Year

Valore portafoglio Gemmo

Gemmo's backlog is equal to 1.2 billion euros (financial statements 2019)

A much more than a flattering result, if we consider the macroeconomic context in which it developed. 2019, indeed, was not an easy year from an economic point of view. In November 2019, the OECD forecast a global growth of GDP at 2.9% for the current year. The lowest in the last ten years. It was not a single factor that held back the world economy last year, but several situations that acted simultaneously. Just to name a few: Brexit and the problems of the Eurozone, the physiological slowdown of the Chinese economy, the trade war between Washington and Beijing. And we could go on mentioning many others.

Even in this highly volatile background marked by a general economic slowdown, Gemmo was able to grow and consolidate its position in a sector controlled by foreign players, and to strengthen itself as a leading Italian company by optimizing its operational management and significantly improving its net financial position.

Mercati Gemmo 

Gemmo's Geographical coverage with reference to technological infrastructures in Italy and abroad.

The company is therefore perfectly positioned to use some development trends that have already guided the global economy and will become increasingly important in the coming years. The unavoidable Green Revolution, which even before the pandemic was at the top of all the agendas of cities and governments, cannot disregard the energy efficiency. According to Fatih Birol, executive director of the International Energy Agency, greater energy efficiency could allow to slash pollution emissions by 40%. The topic of Sustainability is part of any national and international development program and, in Italy, has finally entered peremptorily on the Agenda of our Government.

The study "Energy Efficiency Report 2019" issued by the Politecnico di Milano had predicted, in the three-year period 2019-2021, a growth between 7 and 9 billion euros per year, in the energy efficiency sector. A positive trend also confirmed by the increase in the number of active ESCo companies (Energy Service Companies): in 2016 this type of companies were 272, two years later the same type of companies increased up to 369. Impressive growth.

It is precisely in this macroeconomic context that one of Gemmo's core businesses is included. Gemmo S.p.A. has been indeed certified as an ESCo in compliance with standards UNI CEI 11352 and UNI CEI 50001, since 2012. However, Gemmo differs from the average competitor, both in size (it is much larger: the average ESCo has 27 employees, Gemmo about 750), and in the type of guaranteed services: in fact, Gemmo offers not only consulting but also the implementation and operation & maintenance stages, having the know-how and experience to carry out highly complex interventions.

Changes in the numbers and employees of Energy Sevice Companies

Dipendenti: Employees

Esco dipendenti

In 2018, certified ESCos increased by 6% in comparison to 2017, with a consequent growth of the number of employees reaching 10,845 (+ 10% compared to the previous year).
The growth of the last year in terms of both certified entities and the number of employees slowed down, compared to the previous year; a sign that this sector has reached a certain level of maturity.
The average of employees per company remains stable, from 27 employees per company in 2016 to 29 in 2018.
(Source: Politecnico di Milano Efficiency Project)

Types of Energy Service Company certified in 2017 and 2018

ESCo certificate a fine 2017: Certified ESCos at the end of 2017
ESCo certificate a fine 2018: Certified ESCos at the end of 2018
Consulenza tecnica-gestionale in ambito energetico: Technical-management consultancy in the energy sector
Installazione impianti elettrici: Installation of electrical systems
Fornitura di energia elettrica/gas: gas and power supply
Fabbricazione di machine e apparechiature: manufacturing of machines and equipment

Esco dipendenti Gemmo

Among the 369 certified ESCos in 2018, 46% of them (in line with 2017) includes, in its core business, technical-management consultancy in the energy sector. The number of ESCos, whose core business comprises the manufacturing of machines and equipment, has increased, confirming the growth of investments in the production process. A slight decrease can be noticed in companies whose business includes the installation of electrical systems (-3%), while ESCos that operate in the field of gas and power supply are in line with 2017 data. (Source: Politecnico di Milano Efficiency Project)

Gemmo can count on two departments. The first department operates in the service area, and more precisely in the field of Facility Management and Energy Saving, where Gemmo deals with the management and maintenance of technological systems in the hospital, airport, railway and road infrastructure sectors, but also in the field of office, commercial and industrial buildings. This is where 75/80% of the company's revenues come from.

In addition, Gemmo has the Smart Buildings and Infrastructure department, which is used to exploit the new opportunities created by the so-called Fourth Industrial Revolution, thanks to its ten years of experience in the realization of complex infrastructures, especially in the public sector. This is a very high technological sector in which highly complex systems are built in hospitals and business centers, or infrastructures such as railway stations, road tunnels and airports.  These are structures that must be smart right from the design stage, also considering the future maintenance and ensuring the best energy performance.

Gemmo's backlog divided by business areas and sectors

P.A. = Public Administration
Ospedali: Hospitals
Costruzioni e alter infrastrutture: Construction and other infrastructures
Business = bunisness
Altro: other
Aeroporti: Airports

Portafoglio business Gemmo

2020, due to the COVID-19 outbreak and its impact on the world economy, promises to be a very difficult year. Despite this, Gemmo has more than one reason to look at the immediate future with serenity. On the one hand, there is a backlog of around 1.2 billion euros. On the other hand, the company has already shown that it is able to find original solutions to resist unfavorable macroeconomic trends. One of these innovative approaches to the demand of the infrastructure sector is Project Financing, a financial engineering formula whereby the company that wins the contract takes charge of part of the cost for financing the work, having in exchange a long-term operation and maintenance agreement. In the past years, Gemmo has played an important role in the introduction in Italy of this development methodology, which has allowed to overcome the impasse created by the lack of public funds to be invest in infrastructures, and still today keeps alive its role in the promotion of energy efficiency projects through the PPP (Public-Private Partnership).

Now, however, the economic dogmas that have slowed and hurt growth have fallen. This is one of the very few positive consequences of the pandemic. As explained by former ECB President Mario Draghi, an era begins in which the high indebtedness of the States will no longer be a taboo but a necessity: governments will have to spend to revamp growth and their resources will be the main incentive. Obviously, that will have to be intelligent spending aimed at favoring strategic infrastructures and carrying out a reconversion into a green economy.

Gemmo has the history, the centenary experience and the know-how to enter this revolution and keep playing its role as the largest Italian company in this sector, which is strategic for the recovery and the next hoped-for development of our country.


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