The economic value generated and distributed therefore represents a company’s ability to reinvest part of the economic value generated through its business activities among its stakeholders, thus measuring its impact on the community in which it operates and along the entire value chain.
In 2023, Yamamay generated an economic value of €34.3 million, while the economic value distributed amounted to €30.8 million.
Unlike the previous two years, the added value retained by the Company is positive and stands at €3,573.09 thousand. It is useful to underline that the added value distributed has continued to grow over the last three years: compared to the previous year, a growth of almost 10% was recorded.
Distribution of added value
| Determination of Added Value (in thousands of €) | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenues from sales and services | 117,609 | 138,945 | 144,684 |
| Other revenues and income | 6,889 | 9,829 | 8,884 |
| Financial income | 0.46 | 1.12 | 5.15 |
| Value of production | 124,498 | 148,775 | 153,574 |
| Less external costs | -90,221 | -128,963 | -109,234 |
| Raw and ancillary materials, consumables and goods | -45,008 | -73,838 | -54,327 |
| Services | -25,624 | -31,932 | -28,488 |
| Use of third-party assets | -19,588 | -23,193 | -26,420 |
| Provisions for risks | -300 | -570 | -309 |
| Miscellaneous operating costs | -2,347 | -2,451 | -1,978 |
| Change in inventories of raw and ancillary materials, consumables and goods | -490 | 18,029 | -66 |
| Exchange profits (losses) | -538 | 1,897 | 45 |
| Gross Added Value | 30,603 | 36,717 | 42,032 |
| Amortization, depreciation and write-downs | -12,769 | -9,653 | -8,897 |
| Net Added Value | 17,834 | 27,064 | 33,135 |
| Breakdown of Added Value (in thousands of €) | 2021 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|
| Generated Net Added Value (A) | 17,834 | 27,064 | 33,135 | |||
| Distributed Added Value (B) | 20,496 | 27,999 | 30,735 | |||
| of which to employees (salaries, wages, charges, severance pay, costs for personnel services) | 19,543 | 95% | 24,304 | 87% | 25,496 | 83% |
| of which to Lenders (interest on debt) | 1,477 | 7% | 2,567 | 9% | 3,918 | 12,8% |
| of which to Shareholders | 0.00 | 0% | 0.00 | 0% | 800 | 2.6% |
| of which to Public Administrations (direct and indirect taxes, and fees) | -612 | -3% | 976 | 3% | 320 | -1% |
| of which to Communities (contributions and sponsorships) | 89 | 0% | 151 | 1% | 201 | 0.6% |
| Added Value retained in the Company (A-B) | -2,662 | -934 | 3,041 | |||
Distributed added value
Our Stakeholders and the Materiality Matrix
We have identified 10 groups of stakeholders which can influence our business decisions and the achievement of our objectives and which can allow us to identify the risks to be avoided and the opportunities to be exploited. Through their involvement, we conducted our materiality analysis to identify the sustainability aspects relevant to the sustainability matrix.
STAKEHOLDER MAP
| STAKEHOLDER | ENGAGEMENT MODALITY | EXPECTATIONS |
|---|---|---|
| CONSUMERS AND CUSTOMERS | Stores, e-commerce, social media, brand reputation surveys, questionnaires, Corporate Website | Positive purchasing experience, Product quality, Transparent communication |
| EMPLOYEES | Training courses, Intranet, Annual meeting with Ambassador, Climate surveys, periodic individual meetings, surveys, Welfare platform, Green Trend Review, Yamapp | Information on strategies and financial results of the Group, Clarity of objectives and evaluation system, Training and professional development, Initiatives for employee well-being, health and safety, Equal opportunities |
| SUPPLIERS | Dedicated platform for collecting environmental, social, and human rights data from suppliers, Audits, QC, Yamamay staff inspections, Corporate Website, Manufacturing Agreement | Continuity in supply, Compliance with contractual conditions, Business visibility and development (new partnerships) |
| FRANCHISEES | Affiliation contract, Training meetings, Collection presentations, Yamapp | Clarity on sales strategies, Profit, Trust relationship, Visibility, Punctuality in sending goods |
| TRADE ASSOCIATIONS | Working groups, lobbying, webinars, governance body position | Synergies on sustainability issues |
| SCIENTIFIC COMMUNITY AND UNIVERSITIES | Webinars, conferences, testimonials, partnerships, social media, Corporate Website, technical tables | Visibility, Partnerships, common projects, synergies on sustainability issues |
| NON-GOVERNMENTAL ORGANIZATIONS | Meetings, event organization, Corporate Website | Visibility, partnerships, volunteering initiatives, synergies on sustainability issues |
| INSTITUTIONS AND LOCAL COMMUNITY | Webinars, working groups, technical tables, direct contacts, webinars, interviews, governance body position, support on social and governance issues | Synergies on sustainability issues |
| NEW GENERATIONS | Classroom events, activation of internships and traineeships | Collaborations on sustainability issues, employment |
| MEDIA | Interviews, sponsorships, online and offline advertising campaigns, social media, event organization | Transparent communication |
Double materiality analysis
To prepare its 2023 Sustainability Report, Yamamay used the materiality matrix published in the 2022 Sustainability Report and updated in March 2023.
In addition, Yamamay has decided to also include the outside-in perspective into the materiality analysis, in line with the concept of double materiality envisaged by the new European CSRD Directive. This perspective integrates the evaluation of financial impacts within the analysis, therefore also taking into consideration external effects that could influence the organisation’s results and performance.
Yamamay’s Sustainability Plan
Yamamay’s ambitious Sustainability Plan, currently being defined and drafted, is based on five key pillars, outlining a roadmap towards more responsible and eco-friendly corporate management.
The Sustainability Plan will be closely tied to the 2025-28 Business Plan, which is currently in the process of being drafted.
ESG ACTION LINES
