Value added
statement

Group
  2020
Rm
%   2019
Rm
  %  
Turnover   6 690   6 975
Cost of goods and services   (2 752)   (3 237)
  3 938   3 738
Income from investments and interest received   74   71
Value added   4 012   3 809
Value distributed and retained
Employees
–Salaries, incentives and benefits   790 20   792   21  
Providers of capital   1 481 37   941   25  
– Outside equity holders   33 1   42   1  
– Ordinary and special dividend   1 448 36   899   24  
Taxation   416 10   539   14  
Reinvested in Group activities   1 325 33   1 537   40  
–Depreciation   361 9   284   7  
– Retained income   964 24   1 253   33  
  4 012 100   3 809   100  
Value distributed and retained       Value distributed and retained  
           
pg104   pg104   pg104  

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 R2 752 million (2019: R3 237 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 R416 million (2019: R539 million) in taxation, for the ultimate benefit of all citizens in the territories in which it operates.
  • The Group paid R790 million (2019: R792 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.