Globaltrans works hard to make a positive impact on the communities where it operates. As an employer and business partner, we have a responsibility to our society and the people around us. This approach is evident in our commitment to following applicable rules and our transparent approach to financial and non-financial reporting. Our ethos is also apparent in how we engage with our employees, partners and the environment. It is by continuing to be a successful and sustainable business that we will remain a vibrant contributor to our communities, supporting their economic and social development. We add value through our business operations in various ways: direct and indirect employment, tax payments and social activities, and by providing internships and educational support. Our employees welcome the opportunity to engage with interns or take part on our pro bono social programmes to develop their capabilities and contribute more to society. Having a close relationship with our local communities means we can identify what support — skills, time or financial assistance — will help deliver the best outcome.
It is our business success that enables us to provide this support and create opportunities for both current and future employees. It also means we are making a direct f inancial contribution to the broader economy through the payment local and national taxes of license and other fees and the use of third-party services and suppliers. The table below illustrates how our company creates financial value for its stakeholders. We want our people and those we work with to feel valued and supported, to know that they work in a safe, fair and respectful environment where they can prosper, where diversity is valued and, where, as a result, they feel they can fully contribute to the success of their communities and of Globaltrans. By providing childcare support and health insurance, or offering employees the option of working part-time, we show our employees that they are valued and we aim to improve the quality of life for them and their families.
We believe participation in charitable activities, sports and community initiatives gives our employees a greater sense of well-being and helps instill our core values of respect and cooperation within our communities. We contribute directly to charitable efforts in the areas of health, well-being, sports, culture and education. We also support groups working with vulnerable groups like the disabled and elderly. We have supported the Life Line Fund for many years, which provides vital assistance to children with life-threatening conditions. We understand that we can play a pivotal role in improving the lives of those in and around our business. By creating opportunities to grow, feel valued and prosper — within our business and within our communities — we are setting in place the best foundations for success, for us and all our stakeholders.
Direct economic value generated, distributed and retained in 2021 (RUB mln) [1]
Direct economic value generated[2] | 73,151 |
Economic value distributed | 68,108 |
Total cost of sales (excluding Employee benefit expense) | 46,148 |
Total selling, marketing and administrative expenses | 0.964 |
Employee benefit expense | 5,491 |
Payments to the providers of capital[3] | 12,670 |
Payments to the government[4] | 2,835 |
Economic value retained | 5,043 |
[1] Information in the table is derived from the Consolidated Management Report and Consolidated Financial Statements for the year ended 31 December 2021.
[2] Direct economic value generated includes “Revenue”.
[3] Payments to providers of capital include “Interest paid”, “Dividends paid to owners of the Company” and “Dividends paid to non-controlling interests in subsidiaries”.
[4] Payments to government include “Tax paid” and “Taxes (other than income tax and value added taxes)”. The Company also pays Russian Value Added Tax (“VAT”). VAT related to sales and purchases is recognised in the balance sheet on a gross basis and disclosed separately as an asset and liability. Purchases of property, plant and equipment are shown net of VAT. Related input VAT is included in movement in changes of working capital, within trade and other receivables.