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Value added statement

  Group
  2018  
Rm's  
%   2017  
Rm's  
%  
Turnover  6 064         3 670        
Cost of goods and services   (3 361)        (1 816)       
   2 703         1 854        
Income from investments and interest received  61         32        
Value added   2 764         1 886        
Value distributed and retained                    
Employees                    
– Salaries, incentives and benefits   637   23      307   16     
Providers of capital   360   13      327   17     
– Outside equity holders   21   1      35   2     
– Ordinary dividend   339   12      292   15     
Taxation   435   16      322   18     
Reinvested in Group activities   1 332   48      930   49     
– Depreciation   252   9      85   4     
– Retained income   1 080   39      845   45     
   2 764   100      1 886   100     

Value distributed and retained

 

Value distributed and retained

Value distributed and retained Value distributed and retained

Indirect impacts

The total economic impact of an organisation includes indirect impacts. These are usually benefits arising in the course of its business to which a monetary amount is not directly attributable. Italtile does not assess and quantify its indirect economic impacts although the Group does provide indirect economic benefits:

  • The Group spent R3 361 million (2017: R1 816 million) during the year purchasing raw materials and inventory as well as other products and services from suppliers. This in turn creates opportunities for suppliers to employ more staff to keep pace with the Group's demands.
  • During the year the Group paid R435 million in taxation, for the ultimate benefit of all citizens in the territories it operates in.
  • The Group paid R637 million (2017: R307 million) during the year to employees in the form of salaries, incentives and benefits. These employees in turn supported their families, contributing to the economic activity of their communities and the overall economies.