Economic performance

We are an economically solid company thanks to the hard work, broad expertise and demonstrated commitments of our people.
Being economically sound is the basis that allows us to deliver value to our stakeholders across the ESG spectrum. Maintaining our economic solidity is a commitment shared throughout our organization that allows us to keep our value creation proposition to society, the environment, and ourselves. 

We are. Prosperity

Direct economic value generated and distributed

€ mln 12-2022 Notes
Direct economic value generated 780,04  
Revenues 780,04 Revenues calculated as net sales plus revenues from financial investments and sales of assets
Turnover from sales and services 753,52  
Other revenues and income 9,23  
Change in work in progress, semi-finished products and finished goods, change in contract work in progress 17,11  
Financial income 2,28  
Net exchange rate gains and losses  -4,23  
Adjustments to financial assets 2,13  
Economic value distributed 687,82 Calculated automatically
Operating costs 562,81 Cash payments made outside the organization for materials, product components, facilities, and services purchased. Operating costs can include for example property rental, license fees, facilitation payments (since these have a clear commercial objective), royalties
Raw materials, consumables, supplies and goods 439,07  
Services 112,09  
Use of third party assets 6,07  
Other operating costs 5,59  
Employee wages and benefits 101,07 Total payroll (including employee salaries and amounts paid to government institutions on behalf of employees) plus total benefits
Personnel expenses 101,07  
Payments to providers of capital 1,40 Dividends to all shareholders, plus interest payments made to providers of loans
Dividends paid 1,40  
Payments to government 19,03 Taxes plus related penalties paid at the international, national, and local levels. Organization taxes can include corporate, income, and property.
Payments to government exclude deferred taxes, because they may not be paid
Current taxes 21,86  
Deferred taxes -2,83  
Payment to backers 3,37  
Interest and other financial charges 3,37  
Community investments 0,13 Voluntary donations plus investment of funds in the broader community where the target beneficiaries are external to the organization
Economic value retained 92,21 Calculated automatically as: 'Direct economic value generated’ - ‘economic value distributed’