Publiadige has produced the Top 1000 Companies Report this year again. The 2023 edition, published by Giornale di Vicenza, contains financial data on the top 1000 companies in Vicenza and province. Syncro System has appeared in the list ever since the first edition of the report, which provides an overview of companies’ financial strength based on their financial reports for the previous year.
Being based on data from 2022, the 2023 report therefore demonstrates the effects of a distinctly bad year for commercial vehicle sales. According to figures published by UNRAE (the association of Italian representatives of foreign vehicle manufacturers), 2022 saw a 13% drop in vehicle sales compared to 2021, with 24,000 fewer vehicles registered. This trend continued into early 2023, but the second half of the year has seen a significant upturn.
In last year’s report on businesses in the province of Vicenza, Syncro System SpA came in at number 579. This year we are at number 749 as a result of a 9.95% drop in turnover. This figure reflects the major downturn in the market for commercial vehicles – the vans for which Syncro System racking is made. It nevertheless also demonstrates our company’s resilience and the careful management that has allowed us to keep the drop in our own turnover well below that suffered by the van racking market in general.
The crisis on the microchip supply line caused serious problems for the automotive sector all over the world and impacted the production of all kinds of vehicle, including vans. This situation has had a serious effect on companies like Syncro System, who serve the van racking market.
Difficulties first appeared in late 2021, continued throughout 2022, and lasted into the first part of 2023. Starting in the second half of 2023, automotive manufacturers have returned to a pre-crisis level of production, allowing companies in our sector to recover at least some of the turnover lost over the two years during which new vehicles were difficult to come by. As Luca Comunello, president of Syncro System SpA explains. “Van users are showing ever greater interest in the solutions offered by Syncro System, and at last we can satisfy this demand. We can foresee a significant increase in sales for 2023 as a whole, along with improvements in profit margin and other financial indicators. 2024 should be a good year for the van racking sector and for Syncro System, in the absence of external events like wars and other crises.”