Distribution of value created by TITAN Group in 2011
Total value created in 2011 was €1026.6 million and distributed to key stakeholders as follows:
- To employees for salaries, pensions and social benefits, including additional benefits beyond those provided by law: €218.1 million
- To local and international suppliers: €642.9 million
- For new investments in fixed assets: €58.1 million
- To state and local authorities through taxation: €82.6 million
- Return to shareholders and minorities: €24.9 million
In April 2011, the American Chamber of Commerce in Kosovo with the support of Sharrcem, organized the Kosovo Corporate Social Responsibility Day where representatives of the business community, government and NGOs were invited to attend. The aim of the conference was the exchange of experiences in CSR and the creation of a National Advisory Board for CSR.
During the Conference, companies were invited to share experiences and know-how in respect to corporate social responsibility and after the conference, a working group was created, comprised of the following: American University in Kosovo, Sharrcem, Coca-Cola Hellenic, ProCredit Bank, Raiffeisen Bank, Meridian Corporation, Marigona Residence, AVC, KAEF and CEED Kosovo, with the purpose of creating an Advisory Board for CSR. It was decided that this group will be called the Initiating Group for CSR in Kosovo, and that companies that are part of it will jointly work in raising the awareness of businesses about the importance of CSR and in creating a coordinated platform for CSR activities in Kosovo. In the relevant Declaration is stated:
“We –as members of the Kosovo CSR Network– accept our responsibility to operate our enterprise legally, ethically and with social responsibility. In fulfilling this duty, we intend to lead by example and demonstrate Good Corporate Citizenship through concrete actions and words. Our first responsibility is to our shareholders. We also recognize that our enterprise has continued success depends on its conduct toward its employees, other stakeholders, partners and communities”.