Stakeholder engagement
Alexander Sharabaika Chairman of the Strategy and Sustainable Development Committee of the Board of DirectorsStakeholder engagement is the core principle of our business.
This principle is implemented through full, high‑quality, and timely reporting. We maintain a close dialogue with our stakeholders to take into account their interests and expectations in our operations.
For the third year running, we won the Grand Prix in the Moscow Exchange Annual Reports competition among companies with capitalisation of over RUB 200 bln, which proves our commitment to high standards of non‑financial disclosure. We highly value the acknowledgement from the investment community and remain dedicated to upholding best ESG practices and the highest standards of corporate reporting going forward.
Approach to stakeholder engagement; identifying and selecting stakeholders
GRI 3‑1, 2‑29, SASB EM‑MM‑210a.3
PhosAgro’s framework for stakeholder engagement management covers all tiers of corporate governance. Our stakeholders include persons or organisations that, in line with the double materiality principle, may be affected by our activities or can influence our operations and ability to create value, implement the strategy, and achieve goals. Furthermore, we seek to build partner relationships with government agencies in all countries where we operate and ensure that we strictly comply with all applicable regulatory requirements.
GRI 201‑1
| Item | Stakeholder | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Direct economic value generated | 573,966 | 444,682 | 514,323 | |
| Revenue from sales | Wide range of stakeholders | 551,037 | 421,690 | 492,450 |
| Revenue from other sales | 18,490 | 18,614 | 15,239 | |
| Revenue from financial investments | 4,439 | 4,378 | 6,634 | |
| Economic value distributed | (520,253) | (478,495) | (485,616) | |
| Operating expenses, including: | (320,792) | (291,455) | (358,193) | |
| wages and other payments to employees | Suppliers and contractors Employees and trade unions Wide range of stakeholders | (51,567) | (47,425) | (62,518) |
| social expenses | (9,314) | (7,720) | (11,189) | |
| Payments to providers of capital, including: | (146,669) | (139,733) | (86,457) | |
| declared dividends | Investment and finance community | (142,111) | (132,221) | (71,484) |
| interest expense | (4,558) | (7,512) | (14,973) | |
| Tax expenses and other payments to government, including: | (52,792) | (47,307) | (40,966) | |
| income tax expense | Regional and local governments, and local communities | (41,465) | (34,527) | (25,477) |
| Retained/(redistributed) Economic value retained for 2023 was negative since the Company distributed to its shareholders both profits for the reporting year and a portion of profits retained from the previous years. economic value | 53,713 | (33,813) | 28,707 | |
Our key stakeholders
We disclose approaches to engaging each stakeholder group in the relevant sections of this Report.
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