Calculation and distribution of Global Added Value

Global added value calculation

Global Added Value is a form of social disclosure which measures the wealth produced by the company with reference to the stakeholders who share in its distribution.

Global Added Value is determined by subtracting from thevalue of production, including revenues from sales and other revenues, the cost of services and consumption of materials, depreciation/amortisation provisions and other operating expenses. The Gross Characteristic Added Value is obtained by deducting extraordinary and accessory items.

(thousands of Euro)

A) Value of Production 2018 2017
Net sales 1,705,836 1,696,617
Rental income 1,089 1,132
Other revenues and income 44,809 30,536
Revenues from characteristic production 1,750,645 1,727,154
B) Intermediate costs of production 2018 2017
Consumption of raw material, consumables and goods for resale 859,948 802,389
Services 416,809 393,153
Leases and rentals 34,401 32,053
Sundry operating charges 28,992 25,812
Costs of characteristic production 1,340,150 1,253,406
GROSS CHARACTERISTIC ADDED VALUE 410,495 473,747
C) Accessory and extraordinary items 2018 2017
12, +/- Accessory balance of operations -14,383 -9,236
Accessory revenues - -
- Accessory costs -14,383 -9,236
GLOBAL GROSS ADDED VALUE 396,112 464,512

Distribution of added value

(thousands of Euro)

2018 2017
(A) Human Resources remuneration 303,301 291,616
Personnel
a) direct remuneration 252,265 240,033
b) indirect remuneration 51,036 51,583
(B) Loan Capital remuneration 3,634 6,550
Charges for short or long-term capital 3,634 6,550
C) Public Administration + Community remuneration -9,277 13,321
Direct and indirect taxes -9,277 13,321
D) Company remuneration 98,054 153,025
Profit (loss) for the period -26,064 29,689
Amortisation/depreciation 124,118 123,336
GLOBAL GROSS ADDED VALUE 395,712 464,512

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