Value Directly Generated and Distribuited

Data on the creation and distribution of value give a basic indication of how the organisation has generated wealth for stakeholders.

The value generated by the Group reached approximately €1.3 billion, up roughly 2% on 2011. The increase is due to the slight growth in sales and services.

The value generated is distributed as follows:

  • most value, or roughly €800 million, relates to costs incurred to purchase materials (suppliers), services (contractors and sub-contractors) and other goods;
  • approximately €312 million to employees, mainly for wages, salaries, social security and pension contributions and defined contribution pension plans;
  • the amount withheld by the company amounts to €70 million, mainly consisting of depreciation, amortisation, accruals and self-financing;
  • direct and indirect taxes amount to approximately €42 million and were paid to the government and local bodies;
  • €34 million went to lenders as remuneration on loans;
  • €28 million went to shareholders in the form of dividends19;
  • €1.5 million to the community in the form of gifts, donations and sponsorships (with or without publicity).

2012 - Value Distributed

Value distributed

 18This includes gifts of €338 thousand, membership fees of €751 thousand, and donations of €59 thousand and sponsorships of €313 thousand.
19The most indicative data for the distribution of value would have been dividends on the net profit for 2012. However, this figure was not available before the shareholders’ approval of the sustainability report. Indeed, at the same meeting the shareholders are to approve the dividend to be distributed on the net profit for 2012. Accordingly, we deem it appropriate to publish equity distributions in the year.