4.1.2.9 Items of remuneration subject to shareholder approval in accordance with Article L.22-10-8 II of the French Commercial Code
At the Shareholders’ General Meeting of 12 April 2022, in accordance with Article L.22-10-8 II of the French Commercial Code, shareholders will be asked to vote on the remuneration policy for executive company officers, and in particular that applicable to Xavier Huillard, Chairman and Chief Executive Officer, as presented above.
4.1.3 Comparative information
4.1.3.1 External benchmarking exercise
At the request of the Remuneration Committee, a benchmarking exercise relating to the components of the Chairman and Chief Executive Officer’s remuneration package is conducted by an independent firm and updated on a regular basis. The aim of this exercise is to ensure that the remuneration of the Group’s top executive remains coherent and in line with market practice. The most recent update was based on the latest publicly available information relating to the 2020 financial year.
For the purposes of this exercise, the Remuneration Committee selected two representative peer groups, the first comprised of 17 French industrial companies that are members of the CAC 40 (the “French peer group”), and the second comprised of 11 European companies with operations in the construction sector or infrastructure concessions (the “International peer group”).
These two peer groups are as follows:
| French peer group | Air Liquide, Alstom, Bouygues, Saint-Gobain, Danone, Engie, EssilorLuxottica, Legrand, L’Oréal, Michelin, Pernod Ricard, PSA, Renault, Safran, Schneider Electric, Total, Veolia Environnement |
|---|---|
| International peer group | Aéroports de Paris, Bouygues, Eiffage, ACS, AENA, Atlantia, Ferrovial, Fraport, Hochtief, Strabag, Skanska |
The charts below situate VINCI in relation to the median and the third quartile of each of these peer groups and show that VINCI is positioned well above the peer groups in terms of revenue, number of employees and market capitalisation.
VINCI vs Median of peer groups in 2020
This graph allows us to situate VINCI in relation to the median and third quartile of each of these panels and shows that VINCI is clearly above the panels in terms of revenue, number of employees and market capitalization.
In 2020, VINCI made a turnover of approximately €47bn. The Median of French peer group made a turnover of approximately €35bn and approximately €25bn for the Median of International peer group.
The same year, VINCI had more than 200,000 employees. The Median of French peer group had over 110,000 employees and the Median International peer group had roughly 49,000 employees.
In terms of market capitalization, VINCI reached over €49bn. The Median of French peer group was located at approximately €47bn and the median of the International peer group affected approximately €10bn.
VINCI vs third quartile of peer groups in 2020
This graph allows us to situate VINCI in relation to the median and third quartile of each of these peer groups and show that VINCI is positioned well above the peer groups in terms of revenue, number of employees and market capitalization.
In 2020, VINCI had a turnover of approximately €49bn. The Third quartile of French peer group made a turnover of approximately €48bn and approximately €47bn for the Third quartile of International peer group.
The same year, VINCI had more than 200,000 employees. The Third quartile of French peer group had over 110,000 employees and the third quartile of International peer group had roughly 49,000 employees.
In terms of market capitalization, VINCI reached approximately €50bn. The Third quartile of French peer group was located at approximately €55bn and the Third quartile of International peer group affected approximately €10bn.
According to the results of the benchmarking exercise for 2020, the total remuneration received by VINCI’s Chairman and Chief Executive Officer can be characterised as follows:
- The fixed component is near the median and third quartile of both peer groups.
- The short-term component (fixed and variable) is near the median of the French peer group but above the median of the International peer group.
- The total remuneration (fixed, variable and long term) is near the third quartile of the French peer group.
VINCI’s Chairman and CEO vs. median of peer groups in 2020
This graph compares the salary of the CEO of VINCI with that of the CEO of the Median of French peer group and the Median of International peer group.
In terms of fixed remuneration, the CEO of VINCI earns approximately €1.2m, the CEO of Median of French peer group earns approximately €1.0m and the CEO of Median of International peer group earns approximately €0.9m.
In terms of short-term remuneration (fixed + variable), approximately €2.2m for the CEO of VINCI, approximately €2.0m for the CEO of Median of French peer group and approximately €1.2m for the Median of International peer group.
In view of the total remuneration, the CEO of VINCI earns approximately €4.2m, compared to the CEO of Median of French peer group who earns approximately €3.0m and approximately €1.7m for the Median of International peer group.
VINCI’s Chairman and CEO vs. third quartile of peer groups in 2020
This graph compares the salary of the CEO of VINCI with that of the CEO of the Third quartile of French peer group and
the Third quartile of International peer group.
In terms of fixed remuneration, the CEO of VINCI earns approximately €1.2m, the CEO of the Third quartile of French peer group earns approximately €1.1m and the Third quartile of International peer group earns approximately €1.0m
In terms of short-term remuneration (fixed + variable), approximately €2.2m for the CEO of VINCI, approximately €2.3m for the CEO of the Third quartile of French peer group and approximately €1.9m for the Third quartile of International peer group.
In view of the total remuneration, the CEO of VINCI earns approximately €4.2m, compared to the CEO of the Third quartile of French peer group who earns approximately €4.0m and approximately €2.2m for the Third quartile of International peer group.