Direct economic value generated and distributed
As the Group’s operations generate value for its stakeholders, the wealth created and the consequent allocation of revenue by stakeholder group is demonstrated by the direct economic value generated and distributed.
By examining the numbers presented in this section it can be seen that some economic value is retained, which is used to further develop the business. We endeavour to boost the value generated and distributed and hence increase our contribution to society. For this reason, we strive to ensure that our actions are taken with integrity when it comes to information disclosure.
In 2020 the value generated by EVRAZ amounted to US$ 9,782 million, the value distributed US$ 9,346 million, and the value retained US$ 436 million. In accordance with GRI recommendations for Disclosure 201–1, the audited IFRS Financial Statements of the Group were used to prepare the table below.
|Direct economic value generated||9,782|
|Revenue from the sale of goods||A wide variety of stakeholders||9,514|
|Revenue from providing services||240|
|Revenue from financial investments||6|
|Other operating income||22|
|Economic value distributed||(9,346)|
|Operating expenses||Suppliers and contractors||(6,244)|
|Wages and other payments to employees||Employees||(1,320)|
|Payments to providers of capital||Shareholders and investors||(1,172)|
|payments to shareholders||(872)|
|payments to creditors||(300)|
|Payments to the government||Government authorities||(579)|
|including income tax expenses||(579)|
|Community investments||Local communities||(31)|
|Economic value retained||436|