The data presented at the Assembly show the impact that the COVID-19 pandemic has had on the performance of the glass processing technology sector which, however, has been able to react; the good start of 2021 bodes well for an at least partial recovery. During the meeting, the Board of Arbitrators and the Sole Auditor were appointed for the period 2021 - 2025.
SECTOR PERFORMANCE IN 2020
Production to -16,6%, a result due to the decline in both exports (-14,9%), both of internal deliveries (-20,7%): this is the effect that the pandemic crisisica had on the performance of the Italian Glass Processing Machinery and Technology Industry, which closed 2020 with a total turnover of 2.027 million euros.
The cheap imports (-11,1%), the domestic market contracted as a result (-17,2%). Overall, the volume of theinterchange (-14,2%) as well as the balance of trade (-16,1%), which nevertheless remains largely positive for almost € 1.080 million.
If 2020 was a year of global crisis, the Italian companies in the sector have shown excellent results reaction and resilience capacity, as the indicacompetitiveness bulls which confirm the positioning of the Sector among the national industrial excellences: the ability to penetrate international markets is even increasing, with the export share of turnover at 71,5%, while the presence of the national market stands at 60,9%, a contained and justifiable declineicadue to the strong restrictive measures adopted to contain the pandemic.
"2020 has put a strain on our sector ", commented on President of GIMAV, Eng. Michele Gusti, "Despite the pandemic waves that have hit the sector with consequent lock-downs and border closures, the manufacturers of machinery and technologies for glass processing have been able to react and contain losses as much as possible in a better way than their international competitors ".
Technologies for the processing of Flat glass were the hardest hit by the pandemic with turnover, exports and internal deliveries all lower than in 2019 throughout 2020 (except for deliveries in November). However, the ability to penetrate international markets and to preside over the internal market is increasing.
Absolute best results for processing technologies Hollow Glass which in 2020 contain the loss of turnover at -8,9%, thanks to the positive performance of internal deliveries (+17,7%), the result of the possibility of operating in derogation of the restrictions for the containment of the pandemic as part of the supply chain considered strategicica for the national interest; this helped offset the -15% exports. The sector improves its coverage of the internal market, while its international competitiveness decreases.
The sector of Accessories and Other Technologies for Glass Processing manages to contain the drop in turnover, exports and deliveries on the domestic market by 10%. The international competitiveness of the sector is substantially stable, but it improves the ability to preside over the internal market.
THE "CASE 2020"
From the detailed analysis carried out by the GIMAV Study Center, the first effects of the global pandemic can be seen in March, when the Glass Processing Machinery and Technologies Sector recorded a drop in turnover of 2,9% on the previous month instead of growing according to the seasonality (+29,5% in 2019).
La drama of the emergency was even more evident in April when the emergency measures adopted by the authorities following the so-called "first wave" effectively prevented normal business activities with a consequent collapse compared to April 2019 in exports (-57,3%), internal deliveries (-45,6%) and, therefore, of the entire turnover (-53,6%).
The following two months, thanks also to the first reopenings, were characterized by a "technical rebound" that kicked off the path to reduce the gap that continued until November, when, net of the "lost ground" in the previous months, the turnover exceeded for the first time in absolute value that of 2019. However, the advent of the so-called "second wave" in December slowed the recovery, perhaps obscuring the real positive figure, namely the ability of the sector's entrepreneurial fabric to react and resist in a highly adverse context for the domestic economyica and even more so for international trade.
The macro family of Technologies for Flat Glass Processing it was undoubtedly that most affected by the effects of the pandemic, with exports suffering from difficulties in the movement of goods and the movement of people internationally and deliveries to the domestic market slowed by measures to contain the pandemic. Turnover attested to the lowest values of 2019 in all months of 2020 show how the sector has more strongly affected by the “second wave".
The sector of Accessories and Other Technologies for Glass Processing was characterized by performances similar to that of the Sector in the first part of the year, with August, however, it reached values very close to those of the previous year, with November and December higher than in 2019, testifying how, in this case, the sector was not affected by the so-called second wave.
The the hollow glass sector, from March to August, was heavily affected by the collapse in international demand. Starting in September, however, exports have resumed on the usual rhythms and the turnover steadily settled on values higher than those of the previous year succeeding, thanks also to the contribution that deliveries on the domestic market have continued to provide to meet the demands of food and pharmaceuticals, to hold up also to the "Second wave" of the pandemic.
FORECASTS 2021
The negative performances of December 2020 eased already in January 2021, recovering in February thanks to the good result of internal deliveries and a partial recovery in exports, consolidating in March with the full recovery of exports.
Projecting first quarter results in December 2021 - without considering any changes that could occur by the end of the year and positively or negatively affect the activity of companies in the sector - turnover is expected to grow by 4,5%, therefore at still low levels, characterized by the good performance of Accessories and Other Technologies for Glass Processing, by a substantial stability of Flat Glass compared to 2020, and by a negative result for Hollow Glass, conditioned by exports that have not yet taken off .
However, it should be borne in mind that the forecast does not take into account the results of the second quarter - to date not yet available and during which the international situation has partially normalized also thanks to the consolidation of the anti Covid-19 vaccination campaign - and, of done, it only projects the results of a period still conditioned by the so-called “second wave”. It is therefore likely that the 2021 result may be better than expected and, indeed, given the reduction in infections and the vaccine engine that continues at full capacity, it may approach the levels of 2019 as clarified by the GIMAV Director, Dr. Fabrizio Cattaneo: "The data speak for themselves: 2020 was a difficult year for everyone and, consequently, also for the manufacturers of machinery and technologies for glass processing. Our sector, however, can look to 2021 with optimism, given the encouraging data from the first quarter. Projecting the little data already available, we presented modest growth forecasts but being well aware that the method contained an intrinsic underestimation, even a significant one. Nonetheless, considering the exceptional nature of the period we are experiencing and which we have not yet definitively put behind us, it seemed more prudent to offer an approximate estimate by default, possibly to be revised upwards in the future, rather than proposing a more optimistic forecast.ica to be then corrected downwards.”
The trend of clear recovery is also confirmed by the surrounding optimism VITRUM 2021, whose numbers for the next edition are confirmed as positive. “We said it in the middle of the pandemic and I reiterated itadiI still love: VITRUM 2021 will be the recovery fair for the sector not only for producers, but also for users of glass processing machinery, with an eye on the end user through the collateral event GLASS WEEK" - states the President VITRUM, as well as President of the Accessories and Other Technologies Section for Glass Processing, Dino Zandonella Necca - "Milan from 5 to 8 October will be the stage from which you will talk about glass at 360 ° and we are working to make it a great event for everyone! "
APPOINTMENT OF THE BOARD OF PROBIVIRES AND OF THE SOLE AUDITOR
During the GIMAV General Assembly, following the approval of the statutory changes necessary to provide the Association with suitable and adequate tools for a modern entrepreneurial representation system, the Arbitrators who will make up the Board for the four-year period 2021 were appointed – 2025. The following were elected: Mr. Adelio Lattuada (ADELIO LATTUADA Srl), Dr. Roberta Triulzi (TRIULZI CESARE SPECIAL EQUIPMENT Srl), Eng. Sergio Valsecchi (BAVELLONI SpA), Eng. Andrea Zafferani (ZAFFERANI GLAS Srl) and Giuseppe F. Bonacci and Edoardo Tosetto (LEGALI RIUNITI LEX).
At the same time, Rag. Clara Alberta Tenconi (STUDIO TENCONI) has been elected GIMAV Sole Auditor for the four-year period 2021 – 2025.
