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Economic value generated and distributed

06/07/2019 - 11:15 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

2018 2017 2016

(million euros)

     

Direct value generated

     

a) Total revenue and operating income

19,281 20,351 19,336

b) Interest payable and dividends paid

54 129 159

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

assets

(1) 11 14

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

19,334 20,491 19,509

Economic value distributed

     

e) Operating costs

8,649 8,824 8,128

f) Employee costs

3,105 3,626 3,106

g) Shareholders and providers of capital

1,585 1,705 1,729

h) Taxes and duties

696 750 949

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

14,035 14,905 13,912

Economic value retained (d-i)

5,299 5,586 5,597

Employee costs

2018 2017 2016

(million euros)

     

Wages and salaries

1,994 2,056 2,116

Social security costs

738 745 770

Other expenses

373 825 220

TOTAL

3,105 3,626 3,106

Operating costs

2018 2017 2016

(million euros)

     

Purchases of materials and services

8,186 8,388 7,793

Other operating costs

1,135 1,097 983

Change in inventories

(102) (35) (9)

Internally generated assets

(570) (626) (639)

TOTAL

8,649 8,824 8,128

Shareholders and providers of capital

2018 2017 2016

(million euros)

     

Dividends distributed

281 223 191

Interest payable

1,304 1,482 1,538

TOTAL

1,585 1,705 1,729

Taxes

2018 2017 2016
(million euros)      

Income tax

571 639 849

Indirect taxes and duties

125 111 100

Taxes and duties

696 750 949

- regarding Domestic BU

598 679 876

- regarding the Brazilian BU

74 64 84

- regarding activities abroad/other

24 7 (11)