Value Directly Generated and Distribuited

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 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

(K€)2013 2012 2011 
Value generated 1,293,935  1,289,800  1,258,279 
Revenue 1,256,419  1,247,849  1,211,944 
Other revenue 15,766  21,314  19,578 
Financial income 21,658  20,637  26,757
Profit from non-current assets held for sale 92  - -
Value distributed 1,229,102  1,219,453  1,198,803 
Operating costs (procurement, services and investments) 806,302  802,121  784,495 
Employee remuneration 309,454  311,988  296,560 
Shareholder remuneration 28,800  28,000  33,592 
Lender remuneration 40,644  34,128  37,827 
Public administration remuneration 42,577  41,756  44,818 
Donations and sponsorships 1,325  1,460  1,511 
Value withheld 64,833  70,347  59,476 
Depreciation, amortisation, impairment losses and adjustments 18,818  22,651  20,012 
Self-financing 46,015  47,696  39,464 

The value generated by the Group reached approximately €1.294 billion, up roughly 0.3% on 2012. The increase is due to the slight growth in revenue from sales and services.

The value withheld by the company amounts to €64.8 million, and mainly consists of amortisation, depreciation, impairment losses and accruals to provisions for risks, along with the self-financing that was generated.

€1.229 billion was distributed among the following stakeholders:

  • most value, or roughly €806.3 million, relates to costs incurred to purchase materials (suppliers), services (contractors and sub-contractors) and other goods;
  • approximately €309.4 million to employees, mainly for wages, salaries, social security and pension contributions and defined contribution plans;
  • approximately €42.6 million to the tax authorities and other local bodies for direct and indirect taxes;
  • €40.6 million to lenders for interest and commissions, financial expense and operating exchange rate differences;
  • €28.8 million to shareholders in the form of dividends34;
  • €1.3 million to the community in the form of gifts, external donations and sponsorships (with or without publicity).

2013 - VALUE DISTRIBUTED (%)

VALUE DISTRIBUTED

34. The most indicative data for the distribution of value would have been dividends on the profit for 2013. However, this figure was not available before theshareholders’ approval of the sustainability report. Indeed, at the same meeting the shareholders are to approve the dividend to be distributed on the profit for 2013. Accordingly, we deem it appropriate to publish equity distributions in the year.