In 2017, the value added distributed to stakeholders in the local area was Euro 1,247.5 million (+6.8% compared to 2016).
- employee salaries (44.3% of the total);
- dividends to local Hera Spa shareholders (6.9%);
- duties, taxes and fees to local authorities (10.2%);
- charitable donations and sponsorships (0.2%);
- resources re-invested in the company (38.4%).
If the added value distributed in the local areas is added to the amount of the supplies from suppliers in the local areas (which account for 66% of total Group supplies at consolidated level and which can be valued as 592.3 million), the economic value distributed to local areas in 2017 in total can therefore be valued as Euro 1,839.7 million (+6.5% compared to 2016), equal to 78% of the total of the wealth produced which was Euro 2,372.1 million.
As indicated in the Governance and value creation chapter, for the purposes of greater comparability between the 2016 and 2017 figures, the 2016 financial statement balances have been adjusted for comparison with 2017. This adjustment did not have any effect on the results and as of 31 December 2016 led to greater revenues for Euro 697.9 million and an equivalent increase in costs. This adjustment affects the prospect of production of the added value but does not change the total gross global added value.
The minority shareholders of the subsidiaries have not been taken into consideration in the calculation of the value added distributed to the local areas; with regard to the distribution of the dividends of Hera Spa, here reference is made to the share composition as of the 2016 dividend payment date.