Value-added Statement is defined as a company's financial contribution to society. Intracom Holdings Group makes significant investments to develop its business activities and contribute to the improvement of domestic financial figures by conserving foreign exchange, creating job opportunities, developing human resources expertise, reducing the national social security deficit, and increasing public sector income.
These significant investments, apart from contributing to production, create secondary and tertiary revenues. They also contribute to national revenues through savings and taxation.
During 2003-2007, Intracom Holdings, Intracom Telecom, Intracom Defense Electronics, and Intracom IT Services paid roughly €268 million to the State in the form of taxes and social security contributions. Over the same five-year period, the financial contribution (value-added) to Greek society was estimated at €970 million and was distributed as follows:
- 35% to employees (wages and benefits)
- 28% to the State in the form of corporate taxes, payroll taxes, and employee social security contributions
- 3% to shareholders as dividends
- 23% within the Group for self-financing purposes (reserves)
- 11% to creditors (bank loans interest payment)
Value added contribution to society 2003-2007
Total €970 million