Value added statement

		Group
	2024 Rm	%	2023 Rm	%
Turnover and other income	9 483		9 532
Net cost of goods and services	(4 996)		(4 768)
	4 487		4 764
Income from investments and interest received	120		65
Value added	4 367		4 699
Value distributed and retained
Employees
– Salaries, incentives and benefits	1 163	27	1 122	24
Providers of capital	693	16	867	19
– Outside equity holders	43	1	55	1
– Finance costs	87	2	82	2
– Ordinary and special dividend	563	13	730	16
Taxation	543	12	633	13
Reinvested in Group activities	1 968	45	2 077	44
– Depreciation	506	12	472	10
– Retained income	1 462	33	1 605	34
	4 367	100	4 699	100

Value distributed and retained (%)

Reinvested in Group activities: 45
(2023: 44)

Employees: 27
(2023: 25)

Providers of capital: 16
(2023: 18)

Taxation: 12
(2023: 13)

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 996 million (2023: R4 723 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.
The Group paid R1 163 million (2023: R1 122 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 economy overall.
During the year the Group paid R543 million (2023: R633 million) in taxation, for the ultimate benefit of all citizens in the territories in which it operates.