Added value is an asset produced by the Piaggio Group, which is distributed, in different forms, to various stakeholders.
Net Global Added Value is allocated among various stakeholders 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
Added value generated and distributed in 2020
The Net added value generated by Piaggio in 2020 amounted to approximately €318,377 thousand, or 23.1% of the economic value generated. Most of this amount refers to remuneration paid to human resources (66.8%), followed by remuneration to lenders (15.5%), to shareholders (10.3%) and to the Public Administration sector (7.4%). Compared to 2019 figures, Net added value fell by 10.3%.