Economic value generated and distributed

The creation of value has always been the CIR group’s chief goal. Our holding company is historically a long-term investor and does not limit itself to the results of single years. Generating value means adopting initiatives and behaviors that allow the group and its subsidiaries to work with success in their various markets, achieving results that are sustainable over time. This approach to entrepreneurship guides the strategies and operational management of KOS and Sogefi.

The group’s activities in 2022 recorded a market recovery, after being affected by the consequences of the COVID-19 pandemic in 2020 and 2021. In the context of activities recovering, the group’s Distribuited Economic Value grew by 16%, thanks to the increase in activity, the increase in the price of supplies, in particular raw materials and energy, the increase in human resources employed and personnel costs. The retained economic value decreased, due to the decreasing net income, due to the negative return on financial management activities.

Prospectus of Economic Value of the CIR group

(€ millions)

Total Economic Value generated directly1,8112,080
Remuneration of suppliers1,1291,356
Remuneration of personnel 594639
Remuneration of lenders 5258
Remuneration of third parties515
Remuneration of Public Administration 1312
Total Economic Value distributed1,7932,080
Profit (loss) attributable to the owners of the parent180
Total Economic Value retained1800