Creating shared value

At Galp, we face the challenges that the world presents to us, mindful of the impact that our actions have on society.

Our business activities create value for our shareholders, but also for the broader spectrum of our stakeholders. We create direct employment and value our human capital, develop local economies, galvanize the supplier chain, and distribute and reinvest the wealth generated. This is why we call “shared” to the value that we create. This is an incontrovertible factor in our business sustainability, and essential for the longevity of our Organization.

The value created by the Company is redistributed, directly and indirectly, by all stakeholders, in various forms.

	2016	2017	2018	2019	2020
Economic value generated (€m)	13,241	15,309	17,322	16,938	13,377
Economic value distributed (€m)	12,648	14,376	16,332	16,233	12,890
Economic value retained (€m)	593	933	991	705	487

2020
Economic value generated (€m)	13,377
Sales and services provided (€m)	13,272
Other operating income (€m)	105
Economic value distributed (€m)	12,890
Costs of goods and other operating costs (€m)	8,272
HR operating costs (€m)	331
Interests and similar expenses (€m)	135
Dividends (€m)	398
Income tax (€m)	417
Tax on oil products (ISP) (€m)	1,924
Community (€m)	21
Other taxes (€m)	1,392
Economic value retained (€m)	487