It is often convenient, if not entirely rhetorical, to pontificate about young slackers who, instead of struggling to find a job even if poorly paid, prefer live on subsidies. It gets tedious and irritating when that appeal is made by those who never had to send a resume in his life. This is the case of the last externalization of Guido Barilla which urged young people to find a job, even poorly paid. He son of art a job never had to pity him. He had it there ready (and what use) in the family business. A role as president of the Italian food giant that certainly involves great responsibilities, but also great remuneration without having to build them from scratch. He was the great boss of Barilla predestined since he was a boy.
Well Guido Barilla, that place has in fact inherited it, without competing and without competing. Plus with a fine salary. Looking at the balance sheet of the made in Italy pasta giant, it turns out that the directors and mayors of the group, obviously including the president Guido Barilla, collected the beauty of 5.25 million euros of remuneration, as shown by the last balance of the group. And the best part is that they are almost all in the family. The directors of Barilla Holding are in fact the president Guido and the brothers Luca, Paolo and Emanuela who in fact divide up, excluding the auditors, those over 5 million euros a year of fixed salary.
Many, few. They will also be commensurate with the value that Barilla produces but it is a fact that the leaders of the Italian agro-food giant alone are worth just under 1% of all the group’s labor costs worldwide. The beyond 8,500 employees they cost the Parma-based company just over 550 million each year. Each employee contributes to the company’s turnover of 459 thousand euros per year against a cost for the company of only 64 thousand euros. In fact, the global labor cost weighs on the group’s revenues, which at the end of 2020 rose to close to € 3.9 billion, just for 14%. Of course, Barilla pays for raw materials, production costs, marketing costs and all other operating costs, including salaries.
In the end, the pasta giant still enjoys it of excellent health. The operating margin – which is the difference between revenues and all costs – is worth 372 million up 3.9 billion in turnover. And after spending the financial items and taxes, Barilla last year produced net profits of 351 million, almost 10% of global turnover. It is difficult to find a food industry in the world with such a high net profitability. And for a family business those profits will end up partly reinvested partly in dividends to the family. Suffice it to say that by dint of making profits year on year, net worth in 2020 has reached its quota 1.4 billion. The Barilla family therefore sits on this treasure, which has been capitalized over time. The annual millionaire fixed salary is therefore only a small of which of the immense wealth created by the family business.
In fact one of the Italian entrepreneurial excellences. Copious profits, no debt and a billionaire accumulated assets. Guido Barilla from the height of such great wealth, partly inherited and partly built, will certainly be proud of so much entrepreneurial ability. But remember to thank not only symbolically, as you did by recently publicly praising your employees for their dedication in the Covid era, but in fact. And thanks also to its 8,500 employees, who create added value equal to 7 times what they earn, if the Barilla company is what it is. And leave the moralistic sermons to those who are more entitled to make them than him. Enjoy your successes and that hereditary investiture to the fullest and leave the so-called slackers alone who will never have that opportunity.