=2/Guizzardi is one of the main Italian producers of synthetic raincoats. It sells two product ranges – the fashion and the classic raincoat – through supermarkets. Most of the Guizzardi workforce is paid the minimum wage.

Key figures (€m):

N N+1 N+2 Sales 256 326 422 Raw materials used 78 104 143 Personnel cost 102 139 190 Operating income 41 52 59 Net income 23 27 30 Shareholders’ equity 119 129 152 Net bank borrowings 42 125 150