Interview with Claudio Tedesco, CFO Mozzanica
Good morning, Dr. Tedesco. You are the CFO of Mozzanica, a company that operates in Italy and internationally. What does this entail from a managerial and administrative perspective?
It certainly means having to constantly manage issues related to imports and exports, including the issuance and registration of invoices, as well as the exchange risk tied to foreign currencies. We are also working in the global Oil & Gas market where managing the exchange rate and credit risk becomes even more critical; we are already preparing for this.
On average, what size are Mozzanica’s clients, and what is the revenue like?
Over the years, Mozzanica has chosen to diversify its client base considerably; in the service sector, revenue per client can range from just a few thousand to tens of thousands of euros per year, while for industrial projects, revenue can vary from thousands to millions of euros annually. In the Marine and Oil & Gas sectors, the revenue is higher but concentrated among a few trusted clients. This helps us mitigate credit risk in the event of client insolvency.
So, there is a variability in the projects.
Correct. The management of our projects is crucial for our company’s financial health; in fact, to support this, on the finance side, we have invested heavily in the development of our ERP system, to ensure reliable and up-to-date information for monthly project monitoring, in terms of revenue and margins, working together with our technical department to analyze and act quickly in case of discrepancies.
What does it mean to manage such figures? In particular, what about in relation to banks?
Managing such significant figures means maintaining constant focus on company liquidity, which is crucial for its survival; over the last few years, we have become increasingly independent on banks, improving our client credit assessments, contractual conditions, and payment timeliness. Today, we can say that we rely entirely on our internal resources, turning to banks for more strategic support, especially for issuing guarantees required by clients and for foreign markets.
We imagine, then, that having a properly structured Finance Office is essential. What is its current structure?
Having a properly structured office is necessary to achieve everything we just discussed. I am fortunate to work with a very competent and knowledgeable group of people who constantly help and support me in reaching our business goals. Clearly defined internal roles are key. This allows each person to best apply their skills in their daily activities. For a company aiming to grow and internationalize, it’s essential to have a Finance Office with these characteristics. Today, we can say that its role is very different from the past, and it has become vital to the executives managing the company.
Can you list three characteristics that a Finance Office must always have?
In my opinion, competence/professionalism, constant monitoring of the company’s “numbers”, including liquidity management, and business support.
To conclude, considering that we have entered the second half of 2025, what goals have been achieved so far and what are the next ones?
We set ambitious goals for this year. Given the complexity of the global economic situation, we can say that, so far, we have managed to stay in line with last year’s results, especially in terms of margins, and we have seen better numbers in new orders. We are facing a very challenging second half of the year, and we expect to see significant results in the new markets we have entered. I can say that my team and I are highly motivated to continuously support the company in achieving its goals.