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.

	2012	2013	2014	2015	2016	2017	2018	2019
Economic value generated (€m)	18,644	19,763	18,126	15,617	13,241	15,309	17,322	16,938
Economic value distributed (€m)	18,085	19,195	17,848	15,039	12,648	14,376	16,332	16,233
Economic value retained (€m)	559	568	278	578	593	933	991	705

2019
Economic value generated (€m)	16,938
Sales and services provided (€m)	16,570
Other operating income (€m)	368
Economic value distributed (€m)	16,233
Costs of goods and other operating costs (€m)	12,724
Supply and services (€m)	1,650
HR operating costs (€m)	346
Interests and similar expenses (€m)	65
Dividends (€m)	623
Income tax (€m)	65
Community (€m)	25
Other taxes (€m)	58
Economic value retained (€m)	704.8
Tax on oil products (ISP) (€m)	2,834