Direct economic value generated and distributed
Direct economic value generated and distributed is a metric that indicates the wealth that we create through our operations and the subsequent allocation of our revenue by stakeholder group. Throughout our operational activity we create value for a wide variety of stakeholders, including shareholders, investors, employees, suppliers and contractors, government authorities, and local communities.
The difference between value created and distributed is the economic value retained by EVRAZ, which goes towards further developing our business. We are committed to increasing the value generated and distributed to our stakeholders, as well as to maintaining a high level of transparency and integrity when it comes to information disclosure.
We used information from the audited IFRS Financial Statements of the Group to prepare Table 1 in accordance with GRI recommendations for Disclosure 201-1. In 2018, the value generated by EVRAZ amounted to US$12,878 million, the value distributed US$11,708 million, and the value retained US$1,170 million.
|Direct economic value generated||12,878|
|Revenue from sale of goods||Wide variety of stakeholders||12,525|
|Revenue from rendering of services||311|
|Revenue from financial investments||18|
|Other operating income||24|
|Economic value distributed||(11,708)|
|Operating expenses||Suppliers and contractors||(7,770)|
|Wages and other payments to employees||Employees||(1,313)|
|Payments to providers of capital||Shareholders and investors||(1,915)|
|payments to shareholders||(1,556)|
|payments to creditors||(359)|
|Payments to government||Government authorities||(683)|
|including income tax expense||(683)|
|Community investments||Local communities||(27)|
|Economic value retained||1,170|