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	2021
Economic value generated (€m)	13,241	15,309	17,322	16,938	13,377	18,435
Economic value distributed (€m)	12,648	14,376	16,332	16,233	12,890	18,237
Economic value retained (€m)	593	933	991	705	487	198

2021
Economic value generated (€m)	18,435
Sales and services provided (€m)	18,296
Other operating income (€m)	139
Economic value distributed (€m)	18,237
Costs of goods and other operating costs (€m)	12,906
HR operating costs (€m)	428
Interests and similar expenses (€m)	137
Dividends (€m)	696
Income tax (€m)	602
Tax on oil products (ISP) (€m)	1,827
Community (€m)	25
Other taxes (€m)	1,615
Economic value retained (€m)	198