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)2014201330
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 (%)

Economic 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.