Directly generated and distribiuted value
Ansaldo STS recognises the importance of balancing the distribution of value generated by its activities to stakeholders, the value that they have directly or indirectly contributed to generating.
By analysing distributed economic value, Ansaldo STS studies the flow of resources directed towards its employees, suppliers, service providers, lenders, the public administration and the communities in which it is present.
VALUE DIRECTLY GENERATED AND DISTRIBUTED
| (€/000) | 2014 | 201330 |
|---|---|---|
| Economic value generated | 1,365,239 | 1,267,848 |
| Revenue | 1,303,508 | 1,229,802 |
| Other revenue | 27,964 | 15,765 |
| Financial income | 33,767 | 22,189 |
| Profit from non-current assets held for sale | - | 92 |
| Economic value distributed | 1,292,352 | 1,203,314 |
| Operating costs (procurement, services and investments) | 855,582 | 787,472 |
| Employee remuneration | 316,522 | 303,352 |
| Shareholder remuneration | 28,800 | 28,800 |
| Lender remuneration | 42,768 | 40,331 |
| Public administration remuneration | 47,607 | 42,034 |
| Donations and sponsorships | 1,073 | 1,325 |
| Economic value withheld | 72,887 | 64,534 |
| Depreciation, amortisation, impairment losses and adjustments | 20,993 | 18,519 |
| Self-financing | 51,894 | 46,015 |
The value generated by the Group reached approximately €1.36 billion, up 7.6% on 2013. The increase is mainly due to the growth in revenue from the projects of the parent, Ansaldo STS S.p.A., and the subsidiary Ansaldo STS France S.A.S..
The value withheld by the company amounts to €72.9 million, and mainly consists of amortisation, depreciation, impairment losses and accruals to provisions for risks, along with the self-financing that was generated.
Almost €1.3 billion was distributed among the following
stakeholders:
- the largest amount, or roughly €855.6 million, relates to costs incurred to purchase materials (suppliers), services (contractors and sub-contractors) and other goods;
- approximately €316.5 million to employees, mainly for wages, salaries, social security and pension contributions and defined contribution plans;
- approximately €46.5 million to the tax authorities and other local bodies for direct and indirect taxes;€42.8 million to lenders for interest and commissions, financial expense and operating exchange rate differences;
- €28.8 million to shareholders in the form of dividends31;
- €1.1 million to the community in the form of gifts, donations and sponsorships (with or without publicity).
2014 - VALUE DISTRIBUTED (%)
30. Restated due to application of IFRS 11
31. The most indicative data for the distribution of value would have been dividends on the profit for 2014. 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
profit for 2014. Accordingly, we deem it appropriate to publish equity distributions in the year.