Value added statement

	Group
	2019  Rm	%	2018  Rm	%
Turnover	6 975		6 064
Cost of goods and services	(3 237)		(3 361)
	3 738		2 703
Income from investments and interest received	71		61
Value added	3 809		2 764
Value distributed and retained
Employees
– Salaries, incentives and benefits	792	21	637	23
Providers of capital	941	25	360	13
– Outside equity holders	42	1	21	1
– Ordinary and special dividend	899	24	339	12
Taxation	539	14	435	16
Reinvested in Group activities	1 537	40	1 332	48
– Depreciation (excluding depreciation on right-of-use assets)	284	7	252	9
– Retained income	1 253	33	1 080	39
	3 809	100	2 764	100

Value distributed and retained	Value distributed and retained

Reinvested in Group activities

Employees

Taxation

Providers of capital

 

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 237 million (2018: R3 361 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 R539 million in taxation, for the ultimate benefit of all citizens in the territories it operates in; and
• the Group paid R792 million (2018: R637 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.