Direct economic value generated and distributed
The Group generates and distributes direct economic value by its operations which is generated and further allocated by stakeholders. Direct value generated and distributed during the reporting period is shown in the table below. It is evident that some economic values were retained in the reporting period, this is usually used for further growth of the Group.
The value generated by EVRAZ in 2021 amounted to US$14,184 million, the value distributed – US$12,606 million, and the value retained & dash; US$1,578 million. In line with the GRI recommendations for Disclosure 201–1, the audited IFRS Financial Statements of the Group were used to prepare the table below.
| ITEM | STAKEHOLDER | 2021 |
|---|---|---|
| Direct economic value generated | - | 14,184 |
| Revenue from the sale of goods | A wide variety of stakeholders | 13,893 |
| Revenue from providing services | 266 | |
| Revenue from financial investments | 5 | |
| Other operating income | 20 | |
| Economic value distributed | - | (12,606) |
| Operating expenses | Suppliers and contractors | (7,841) |
| Wages and other payments to employees | Employees | (1,323) |
| Payments to providers of capital | Shareholders and investors | (2,029) |
| Payments to shareholders | (1,823) | |
| Payments to creditors | Creditors | (206) |
| Payments to the government | Government authorities | (1,378) |
| Including income tax expenses | (1,007) | |
| Community investments | Local communities | (35) |
| Economic value retained | 1,578 |