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Economic value generated and distributed

03/29/2018 - 10:00 AM

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The Group economic value generated and distributed to stakeholders is shown below. Since 2008, the method of presentation recommended by the GRI has been adopted, with appropriate adaptation.

The value distributed to the stakeholder, The Community, is not shown in this table.

Economic value

2017 2016 2015*

(million euros)

     

Direct value generated

     

a) Total revenue and operating income

20,351 19,336 20,006

b) Interest payable and dividends paid

129 159 216

c) Net gains (losses) on disposals of non-current

assets

12 14 336

d) Direct economic value generated (a+b+c)

20,492 19,509 20,558

Economic value distributed

     

e) Operating costs

8,824 8,128 9,295

f) Employee costs

3,626 3,106 3,589

g) Shareholders and providers of capital

1,705 1,729 2,291

h) Taxes and duties

750 949 534

i) Economic value distributed (e+f+g+h)

14,905 13,912 15,709

Economic value retained (d-i)

5,587 5,597 4,849
* The data relating to 2015 was reviewed to take into account some changes made by the Brazil BU.

Employee costs

2017 2016 2015

(million euros)

     

Wages and salaries

2,056 2,116 2,296

Social security costs

745 770 834

Other expenses

825 220 459

TOTAL

3,626 3,106 3,589

Operating costs

2017 2016 2015

(million euros)

     

Purchases of materials and services

8,388 7,793 8,532

Other operating costs

1,097 983 1,375

Change in inventories

(35) (9) 44

Internally generated assets

(626) (639) (656)

TOTAL

8,824 8,128 9,295

Shareholders and providers of capital

2017 2016 2015

(million euros)

     

Dividends distributed

223 191 262

Interest payable

1,482 1,538 2,029

TOTAL

1,705 1,729 2,291

Taxes

2017 2016 2015
(million euros)      

Income tax

639 849 418

Indirect taxes and duties

111 100 116

Taxes and duties

750 949 534

- regarding Domestic BU

679 876 381

- regarding the Brazilian BU

64 84 123

- regarding activities abroad/other

7 (11) 30