Waste, 59% of operators are micro-enterprises

In the Italian recycling industry, 59% of the operators are micro enterprises, with less than 10 employees and revenues of less than EUR 2 million: a share that in the South and the islands reaches 69%. On the other hand, 31% are small companies, with less than 50 employees and revenues of less than 50 million, and only 1% are large ones, with more than 250 people and revenues of more than 50 million. The picture emerges from the report 'Italy that recycles 2025', presented on 5 December, promoted by the Unicircular (union of circular economy companies) section of Assoambiente, the association of urban hygiene, recycling, recovery, waste disposal and reclamation companies. In particular, the analysis on the economic and financial performance of Italian recycling companies was conducted by the research and consulting company Ref, on a sample of 1,192 operators (and balance sheets 2023).

The study shows that the volume of revenues in the perimeter considered is over EUR 5.6 billion, most of it produced by a small number of larger companies. While a small size is a factor for market adaptation and flexibility, it also represents an organisational and financial limitation. Larger companies have higher labour productivity (EUR 483,000 per employee compared to EUR 123,000 for smaller ones), better financial position and access to credit, with consequent resources to invest in plant, technology and innovation. Although the study notes a difficulty in translating larger size into lower costs, hence the homogeneity of profitability performance, with the average Ebitda margin remaining at 13% for small companies and rising to 15% for large ones.

"It is an industrial fabric that continues to grow and which, by adapting to the needs of the country, allows us to achieve excellent targets in the capacity to recover material from waste," explains Paolo Barberi, president of Assoambiente's Unicircular section. "Let us remember that many sectors are not attractive to large operators . For logistical and economic reasons,' he continues, 'Let's take aggregates, for example, which represent half of the waste produced in Italy in a year: they have a disposal cost of a maximum of 20 euros per tonne, which is low and the big ones may not be interested. The small ones, on the other hand, can develop solutions for the territory, perhaps finding nearby companies that reuse these products, creating a virtuous circle. Then there is the issue of regulatory uncertainty: authorisations for waste recycling plants take too long and do not coincide with the needs of the financial world linked to large operators'.

There is also the question of the destination of the recycled material: 'For the circular economy to develop and increasingly become a leading economic sector, it is necessary for this type of product to find a market outlet,' Barberi emphasises. "We are witnessing a crisis in the plastics recycling sector," he observes, "challenged by economic competition from virgin material, with the risk that the entire system of collecting, sorting and recovering plastic waste could come to a standstill. Economic incentives must be recognised to make the market for recycled materials more stable and attractive. The savings made by using them must be valorised: less virgin material is consumed, less energy is used, and fewer emissions are produced. A certificate system for those who use recycled material could breathe new life into the market. We expect from the Circular Economy Act, expected in 2026, indications also in this sense'.

"Recycling is no longer just an environmental issue, it is an industrial, competitive, strategic lever for the security of resources and the decarbonisation of the country," adds Chicco Testa, president of Assoambiente. "However, a change of pace is needed," he emphasises, "We need clear, uniform and stable rules, a taxation system that truly rewards those who invest in circularity, effective end-of-waste criteria, and a public purchasing policy capable of driving the recycled material markets.