Dynamism, growth, and creation of shared value are the characteristics that describe the evolution in Italy of Benefit Societies, which, between 2019 and 2022, recorded an increase in turnover of +37% in median terms, more than double that of non-benefit companies (+18%).

The better performance compared to non-benefits is also evidenced by higher productivity (in 2022 value added per employee of €62,000 vs. €57,000) and higher levels and growth of EBITDA margin: the ratio of EBITDA to revenueincreased from 8.5 percent in 2019 to 9 percent in 2022 for Benefit Companies and from 8.1 percent to 8.3 percent for non-benefits.

According to the study, at the end of 2023 the number of Benefit Societies in Italy reached 3,619, up 37.8% from the previous year. They still represent a niche compared to the total number of Italian companies (1.23 per thousand), but the growth trend has been steadily accelerating since 2016, when the law was introduced in Italy.

This is the scenario photographed by the National Research on Benefit Societies 2024 – which for the first time analyzes the evolution of the phenomenon also from an economic-equity point of view, comparing the performance of the Benefits with that of a set of traditional companies belonging to the same sectors and size classes. The study is carried out by a heterogeneous working group of experts on the subject, composed of NATIVA, Intesa Sanpaolo’s Research Department, InfoCamere, the Department of Economic and Business Sciences at the University of Padua, the Brindisi-Taranto Chamber of Commerce and Assobenefit.

The research also shows that Benefit Societies recognize more the value of human capital (median labor cost per employee of €41,000 vs. €38,000), thus redistributing more wealth among workers.

There is also a greater degree of investment in strategic levers for the future: for example, the share of internationalized firms is 41 percent among manufacturing companies among Benefit Companies, seven percentage points higher than among other companies; the same is true for applying for patents (24 percent vs. 13 percent), internationally registered trademarks (35 percent vs. 19 percent) and obtaining environmental certifications (35 percent vs. 18 percent), confirming that one of the main characteristics of Benefit Companies is that they operate with a long-term vision.

The acceleration of the phenomenon highlights a growing awareness of social and environmental impact issues, which, partly as a result of the pandemic, has led many companies to reflect on their business priorities and strategies from a sustainability perspective: in fact, in 2020-2021, Benefit Societies more than doubled (from 805 in 2020 to 1,697 in 2021) and their workforce increased from 18,000 in 2020 to as many as 98,000 in 2021 (+433%). This trend has since continued over the years, so that by the end of 2023 the number of people employed in Benefit Societies has reached 188,000, accounting for 10.4 employees per thousand of the Italian total.

The National Research on Benefit Societies 2024 confirms the significant role of Benefit Societies as a promising development in the business landscape. These companies integrate for-profit goals with a commitment to promote common benefits for society and the environment, thus representing a concrete expression of innovation. This integration aims to create added value that could have a positive impact on different economic sectors and, ultimately, on the entire Country System.

Read the full research here.