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.

Added value generated and distributed in 2016

Economic value distributed

The net Global Added Value generated by Piaggio in 2016 amounted to approximately €293,929, or 21.6% of the economic value generated. Most of this amount refers to remuneration to human resources (72.7%), followed by remuneration to lenders (16.8%) and to the shareholders (6.1%). Compared to 2015, Global Added Value decreased by 0.4%.

How added value is determined and distributed

(dati in migliaia di euro)201620152014
Net revenues1,313,1091,295,286 1,213,272
Income/(loss) from investments588295-184
Financial income13,51819,78313,956
Other operating income reclassified31,10726,05425,499
Economic value generated1,358,3221,341,4181,252,543
Operating costs reclassified-955,934-941,429 -864,019
Net added value293,929294,975299,171
Remuneration to human resources213,775213,326211,513
Remuneration to lenders49,50856,68556,919
Shareholder remuneration17,96226,0070
Remuneration to the Public Administration sector15,63912,68414,383
External donations and donations to the community967413292
Distributed added value297,851309,115283,107
Business system-3,922-14,14016,064
Added value retained by the Group-3,922-14,14016,064
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