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.

EVRAZ’s direct economic value generated and distributedInformation from the audited IFRS Financial Statements of the Group was used to prepare Disclosure 201–1 in accordance with the GRI recommendations. Data are presented on an accrual basis., US$ million, 2021
GRI 201–1
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