Economic value generated and distributed

In 2014 SEA generated a value of Euro 622 million, a 7.4% increase on the previous year.

Economic value generated and distributed by the Group (in thousands of Euro)

  20142013
RESTATED
Economic value directly generated  621,634 578,539
a) Revenues Operating revenues 621,634 578,539
Economic value distributed   499,434 523,356
b) Reclassified operating costs Consumable material costs and other operating costs 188,554 174,245
c) Employee salaries and benefits Personnel costs 43,101 40.694
d) Payments to providers of capital Financial charges and dividends distributed in the year 51,029 111,124
e) Payments to the Public Administration Current income taxes and tax charges 54,484 40,071
f) Investments in the community  Donations, sponsorships & collaborations 765 865
Economic value  Calculated as the difference between the economic value generated and the economic value distributed 122,200 55,183

Source: SEA

Economic value distributed - 2014

Economic value distributed - 2014

The economic value distributed decreased of 4,6% to the previous year, from Euro 523.4 million in 2013 to Euro 499.4 million in 2014.

In 2014, Euro 161.5 million was allocated to the remuneration of employees, equal to 32.3% (29.7% in 2013) of the value distributed and 26.0% (26.9%) of that generated.

To the previous year it has decreased, both in absolute terms (Euro 111.1 million in 2013 and Euro 51.0 million in 2014), and as a portion of the total value distributed (respectively 21.2% in 2013 and 10.2% in 2014), in terms of the value allocated to providers of the organisation´s capital (shareholders and credit institutions). In particular in the form of dividends (ordinary and extraordinary), which in 2013 amounted to Euro 89 million, in 2014 to Euro 26.5 million.

The value allocated to suppliers of goods and services was Euro 188.6 million in 2014 (Euro 174.2 million in 2013), accounting for 37.8% of the total distributed value, while that allocated to the Public Administration in the form of taxes and charges was Euro 54.5 million (10.9% of the distributed value).

The share of the distributed value allocated to the company and the region was 0.2% in 2014, corresponding to the sum of the fees issued to tertiary sector bodies and associations in support of cultural, humanitarian, scientific and sporting projects.