Added value is an asset produced by the Piaggio Group, which is distributed, in different forms, to various stakeholders.
The breakdown of the net global added value among the various stakeholders is as follows: remuneration to human resources (direct remuneration comprising salaries, wages and termination benefits and indirect remuneration comprising social security contributions), remuneration to lenders (interest payable and exchange losses), remuneration to shareholders (dividends distributed), remuneration to the Public Administration sector (total taxes paid), external donations and donations to the community. The value held by the Group comprises retained earnings.
How added value is determined and distributed
|(figures in thousands of Euros)||2017||2016||2015|
|Income/(loss) from investments||825||588||295|
|Other operating income reclassified||25,258||31,107||26,054|
|Economic value generated||1,385,434||1,358,322||1,341,418|
|Operating costs reclassified||-958,675||-955,934||-941,429|
|Net added value||310,986||293,929||294,975|
|Remuneration to human resources||215,463||213,775||213,326|
|Remuneration to lenders||50,000||49,508||56,685|
|Remuneration to the Public Administration sector||24,602||15,639||12,684|
|External donations and donations to the community||937||967||413|
|Distributed added value||310,700||297,851||309,115|
|Added value retained by the Group||286||-3,922||-14,140|
Added value generated and distributed in 2017
The net global added value generated by Piaggio in 2017 amounted to approximately 310,986 thousand EUR, or 22.4% of the economic value generated. Most of this amount refers to remuneration paid to human resources (69.3%), followed by remuneration to lenders (16.1%) and to the Public Administration sector (7.9%). Compared to the 2016 figures, the Global Added Value rose by 5.8%.