Medio Chiampo awarded for its management and financial solidity

Medio Chiampo awarded for its management and financial solidity

Medio Chiampo is among the top Italian businesses for management performance and financial solidity. The company that manages the water services of Montebello Vicentino, Zermeghedo and Gambellara (towns) received the l’Alta Onorificenza di Bilancio (award) by Premio Industria Felix – L’Italia che compete 2021. Industria Felix Magazine, a quarterly magazine that focuses on economy and finance-related matters and is published with IlSole24Ore, selected in collaboration with Cerved, 160 companies among the strategic segments of Italy’s economy. Their selection was made after the analysis of over 850.000 financial reports from as many companies for fiscal year 2019. The companies considered had to have their HQ in Italy.

Management and financial solidity

On November 25th, Medio Chiampo received the award at the ceremony held in Luiss Guido Carli university, in Rome. The company’s president Giuseppe Castaman and CEO Luigi Culpo both participated, along with the mayors of Montebello Vicentino and Zermeghedo (Dino Magnabosco and Luca Albiero). This award was given as the company outperformed others in the category in which the majority of the shares is government-owned.

The algorithm

Felix Magazine and Cerved have elaborated the ranking thanks to an algorithm that measures competitiveness from the financial results. Additionally, the process was validated by the Scientific Committee lead by Cesare Pozzi, Industrial Economics professor of the Luiss Guido Carli university, and Vito Grassi, national VP of Confindustria. The awarded companies also had to pass the Cerved Group Score Impact filter before being considered, which is one of the most common tools to synthetically summarize the credit score of companies.

A starting point

“This award – says Medio Chiampo’s president Giuseppe Castaman – is of great satisfaction to myself and the entire BoD. When I took over the role 7 years ago, the financial conditions of the company were very different. That’s why this transformation makes us even prouder. This results come from a solid internal restructuring, as well as the efforts of the director and his collaborators and other stakeholders. Technical and environmental achievements of companies are often displayed, but the economic matters that allow the former to happen are just as important. The award is a starting point for us so that we continue to be more competitive and able to face challenges that put sustainability at the center”.

Linearity and solidity

According to Medio Chiampo’s director, Luigi Culpo, this is “a result that came a long way away, achieved thanks to different economic initiatives to restructure how the company used financial resources. The prize awards the linearity and financial solidity of the company, which continues to increase its investments. We must also highlight how, even if the award is tied to FY 2019, 2021 is currently at pre-pandemic levels as far as performance goes”.

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