Value added statement

	Group
	2021 Rm		%	2020 Rm	%
Turnover	9 135			6 690
Cost of goods and services	(4 738)			(2 752)
	4 397			3 938
Income from investments and interest received	57			74
Value added	4 454			4 012
Value distributed and retained
Employees
– Salaries, incentives and benefits	1 055		24	790	20
Providers of capital	559		13	1 481	37
– Outside equity holders	69		2	33	1
– Ordinary and special dividend	490		11	1 448	36
Taxation	738		16	416	10
Reinvested in Group activities	2 102		47	1 325	33
– Depreciation	384		8	361	9
– Retained income	1 718		39	964	24
	4 454		100	4 012	100

 

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 R4 738 million (2020: R2 752 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 R738 million (2020: R416 million) in taxation, for the ultimate benefit of all citizens in the territories in which it operates.
• The Group paid R1 055 million (2020: R790 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.