The economic performance of Italian olive oil companies: a comparative quantitative approach using the Anova and Tukey-Kramer methods

Italian olive oil companies play a significant role in this nation’s economy, which is among the top in the world for its geomorphological and meteorological characteristics. This research analyzed the performance of three profitability ratios (return on equity (R.O.E.), return on investment (R.O.I.), and return on sales (R.O.S.)) of 3184 companies from 2013 to 2022. Average ratios for each year and critical descriptive statistics were calculated. Broken lines and interpolating curves, obtained from sixth-degree polynomial equations maximizing R2, represent the trends. One-way ANOVA and Tukey-Kramer methods facilitated statistical comparisons between macro-regions. Despite the regular consumption of olive oil, the profitability of businesses has been erratic and fluctuating, probably due to the varying productivity of raw material crops. The pandemic seems to have had no impact. There are no statistically significant differences between macro-areas. The results are helpful to Italian and foreign entrepreneurs who can relate their situation to the average situation in context, highlighting possible gaps that, if negative, must be bridged with a timely management review. National and supranational political authorities can also use this study to orient the frequent support policies in the agricultural and agro-industrial sectors. So too can the bodies in charge of food education, especially for young people, can encourage the use of olive oil where it is lacking. The main limitation of this study was its focus on a small set of profitability ratios. In the future, the study should consider other profitability and asset ratios and investigate investments in sustainability, keeping in mind that all enterprises should contribute to developing eco-friendly production systems.