Grafica Veneta, in 2020 a boom in revenues thanks to the masks sold at prices much higher than the cost of production

It must have been really bad Venetian graphics, the Paduan printing company, leader in Europe in book printing, to resort to subcontracted foreign labor. An operation that in recent days has seen Grafica Veneta appear in the judicial chronicle, with two of its executives finished in House arrest as part of an investigation into the illegal hiring in Veneto. Perhaps beyond the investigation on the exploitation of labor, this was also needed to keep costs under control, in the era of Covid. And instead reality is quite another thing. Covid was a boon for the printing house owned by Fabio Franceschi, who in the past was also a shareholder of Everyday occurrence that has him bought back the shares companies after Franceschi was candidate for Forza Italia, deeming this decision incompatible with his role as shareholder of the newspaper.

With the arrival of the pandemic, Franceschi, a printer of great editorial successes including Harry Potter, he smelled the big deal. He employed printing machines for produce masks, at a time, among other things, of lack of supplies. And so the accounts of Grafica Veneta, already thriving on its own, have exploded of enchantment in the darkest year for the Italian economy. In fact, 2020 has closed for the Franceschi company with boom revenues, up from 61 million in 2019 to over 137 million, more than doubled. And it was certainly not books that contributed to the boom in turnover. But just the timing on the masks.

This is stated by the company’s top management in the financial statement report just filed. “Sales in Italy have passed from 45.3 million euros to 116.6 million euros, mainly thanks to the revenues from the production of filter masks“. Sold not only to distribution companies but also to the extraordinary commissioner structure. A very lucrative business given that this strong increase in revenues came with costs rose only marginally. The costs for the raw material have risen by only 10 million, general ones for services of 7 million, while labor costs increased by just 1 million, from 12.5 million to just 13.6 million, just 10% of the company’s entire record turnover.

And that the selling prices have been particularly fruitful, compared to costs including those of labor, the strong increase in company margins and profits passed only in the year of the pandemic from 9 million in 2019, in pre-covid era therefore, to 50 million at the end of 2020 says this. 450% stellar leap almost everything to be attributed to the “new” business of anti-virus protection devices. Franceschi not only did bingo on an economic level, but he also knew how to play the card of the “homeland Savior”. One of his first moves was to donate 2 million pieces to the Veneto Region.

A move that got a Luca Zaia: “Here you are the Venetian solution for a crucial problem throughout Italy. With this his extraordinary generosity and the same capacity for process and product innovation, Grafica Veneta will go down in history. His gift of 2 million masks is of vital importance but, if necessary, we will take all the ones we need, paying for them, as it should be ”. And that that gift was the viaticum of consent for the big deal the balance of Grafica Veneta says it today with that doubling of turnover and those 50 million profits produced in just one year. Zaia must have paid for those masks.

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