The economic and financial performance of jewellery in Europe: a quantitative and comparative approach

This paper analyses the economic and financial performance of the Italian, Spanish and German jewellery industries from 2012 to 2021. The trends of the three profitability ratios (return on equity (ROE), return on investment (ROI) and return on asset (ROA)) and the three capital ratios (leverage, current ratio and quick ratio) were analysed using financial statements data. The results were processed using various statistical methodologies, including ANOVA and Tukey-Kramer tests. The economic performance was almost always positive, with an evident and common negative pandemic effect followed by a widespread and rapid recovery. Companies are everywhere undercapitalised but with good liquidity and a relatively satisfactory working capital structure. There are frequent statistically significant differences between the three states.