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)201720162015
Net revenues1,342,4501,313,1091,295,286
Income/(loss) from investments825588295
Financial income16,90113,51819,783
Other operating income reclassified25,25831,10726,054
Economic value generated1,385,4341,358,3221,341,418
Operating costs reclassified-958,675-955,934-941,429
Amortisation/Depreciation-115,773-108,459-105,014
Net added value310,986293,929294,975
    
Remuneration to human resources215,463213,775213,326
Remuneration to lenders50,00049,50856,685
Shareholder remuneration19,69817,96226,007
Remuneration to the Public Administration sector24,60215,63912,684
External donations and donations to the community937967413
Distributed added value310,700297,851309,115
    
Business system286-3,922-14,140
Added value retained by the Group286-3,922-14,140

Added value generated and distributed in 2017

Economic value distributed

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%.

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