Value Added Statement

Value creation from the consolidated income statement (in EUR million)20162017
Turnover (plus changes in inventories and own work capitalised)1,126.81,117.2
Other financial result–1.10.3
Other income16.67.4
Business performance1,142.31,124.9
Cost of sales–647.4–643.3
Other operating expenses–158.6–164.3
Brought-in costs–806.0–807.6
Gross value added336.3317.3
Depreciation and impairment–29.2–27.1
Correction of deferred taxes (according to GRI)–5.014.4
Net value added302.1304.5

Use of net value added according to GRI methodology:

Use of value added2016 in EUR million2016 in %2017 in EUR million2017 in %
1 Employees (Personnel expenses)166.255.0166.754.7
2 Providers of finance (Finance expenses)
3 Government (Income tax expenses)36.111.933.010.9
4 Shareholders (Dividends paid during the financial year)32.810.936.111.8
5 Other uses58.519.461.120.1

The breakdown of net value creation shows how the amounts generated are returned to the stakeholders who participate in the value creation process, such as employees, creditors, the government, and shareholders. In 2017, the largest portion of net value creation, 54.7 %, went to our employees in the form of salaries and social security contributions. 10.9 % accounted for tax expenses to the government. 2.5 % went to creditors (only finance expenses), 11.8 % was paid out to our shareholders. 20.1 percent remains in the company for investments and acquisitions or is used for loan repayments.