In the framework of Cinecittà, the president of the EU Commission, Ursula Von der Leyen, gave the EU approval to the Italian PNRR with the green light for the release of the first 25 billion of the total 191.5 billion euros. The initial resources will be absorbed for 15.7 billion by interventions that the Italian PNRR expects to conclude by this year. It is about 105 projects, but already from 2022 the interventions in action become 167 to move 27.6 billion, 37.4 billion in 2023 up to a peak of 42.7 billion in 2024 and then drop slightly in the final two-year period.
“Once approved by the Council in the next four weeks, we will be ready to disburse the first funds. This is the beginning of an implementation that will be tough, we will have to work hard and the commission will be with you step by step. A stronger Italy makes Europe stronger“. Von Der Leyen said in the press conference with Prime Minister Mario Draghi at Cinecittà, handing him the approval of the plan.
I first interventions they will concern those already in progress, on which EU funds have the function of replacing national loans at cheaper rates. Among the main interventions on the digital world, the Equita experts report Transition 4.0 (tax incentives for investments for companies) with 1.7 billion (of which in part new projects and in part refinancing of projects already approved); Simest internationalization fund with 1.2 billion; Judicial system to 0.4 billion; tourism to 0.25 billion euros.
For infrastructure works 2.3 billion are expected by the end of the year (mainly projects in progress where the main ones are the Verona-Padua high-speed train and the Terzo Valico), while 3.2 billion for the `green`.
Sectors and stocks benefiting from the PNRR
The sectors most impacted, Equita underlines, are those linked to digitization, ecological transition, circular economy, infrastructure. The experts of the Milanese SIM indicate some investment ideas among the Buyers who in their opinion are better positioned to benefit from the Italian PNRR: Acea, Buzzi Unicem, Danieli, Iren, Inwit and SeSa. Relevant exposures to PNRR also include stocks such as CY4, Digital Value, Hera, Prysmian, Reply, Snam, TIM, Webuild.