Value added statement

			Group
	2023  Rm		%	2022  Rm	%
Turnover and other income	9 532			9 452
Net cost of goods and services	(4 723)			(3 777)
	4 809			5 675
Income from investments and interest received	65			39
Value added	4 744			5 636
Value distributed and retained
Employees
– Salaries, incentives and benefits	1 167		25	1 160	21
Providers of capital	867		18	1 433	25
– Outside equity holders	55		1	55	1
– Finance costs	82		2	29	0
– Ordinary and special dividend	730		15	1 349	24
Taxation	633		13	755	13
Reinvested in Group activities	2 077		44	2 288	41
– Depreciation	472		10	438	8
– Retained income	1 605		34	1 850	33
	4 744		100	5 636	100

 

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 a net amount of R4 723 million (2022: R3 777 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 R633 million (2022: R755 million) in taxation, for the ultimate benefit of all citizens in the territories in which it operates.
• The Group paid R1 167 million (2022: R1 160 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.