The 2020 management of the Institute of the Italian Encyclopedia shows a slight increase in the income statement (0.32 million euros, compared to 0.26 in 2019). Shareholders’ equity in 2020 stood at € 80,848,653, compared to € 67,531,605 in 2019, with a management that was affected by the huge drop in sales (-41%) and the reduced operating activity due to the pandemic context.
Despite the drop in turnover, the Institute closed with a profit thanks to the capital gain of 4.3 million following the sale of properties to the subsidiary Treccani Reti Spa, as well as the significant decrease in personnel costs (-3 million), linked to redundancies and the use of social safety nets triggered by the pandemic.
The Court of Auditors points out the section on the control of entities of the Court of Auditors which approved, with Resolution no. 6/2022, the 2020 management report of the Institute of the Italian Encyclopedia founded by Giovanni Treccani.
Production costs for 2020 fall from € 80.8 million in 2019 to € 64.9 million. The value of production also decreased (from 24.57 million in 2019 to 18.76), which only includes revenues from sales and services for 11.47 million (19.5 million in 2019), deriving from the sale of products to subsidiary Treccani Reti Spa, to which the Institute transferred (January 2019) the sales network and sold the commercial branch of the company.
The Group’s 2020 commercial result contracted from 86.52 million euros in 2019 to 61.64 million, affected by the suspension of sales linked to the pandemic situation of March-May 2020. The 2020 consolidated income statement shows a decrease in the value of production from 83.3 million (2019) to 57.9, a decrease in production costs from the previous 80.8 million to 64.9 million and a substantial loss of 4,488,546 euros, compared to profits of 1,412,351 in 2019 . The operating result (negative for € 6,964,977: it was positive for 2,501,888 in 2019) is attributable to the reduction in revenues and sales, to which the loss for the year of 4,488,546 is essentially attributable. Consolidated shareholders’ equity, equal to 76,225,667 (67,714,212 in 2019), is mainly attributable to the Parent Company.