The Board of Directors finalised the consolidated financial statements for the year ended 31 December 2021 on 3 February 2022. These financial statements will only become definitive when approved at the Shareholders’ General Meeting to be held on 12 April 2022. A draft resolution will be put to shareholders in that meeting to pay a dividend of €2.90 per share in respect of 2021. Given the payment of the interim dividend of €0.65 per share on 18 November 2021, the final dividend to to be distributed would be €2.25 per share. That dividend would be paid on 28 April 2022 (ex-date: 26 April 2022).
As part of the implementation of its share buy-back programme, VINCI signed a share purchase agreement with an investment services provider on 4 January 2022. Under that agreement, which runs from 5 January until 29 March 2022 at the latest, VINCI authorises the provider to purchase up to €600 million of VINCI shares on its behalf. The price paid for those shares may not exceed the limit set at VINCI’s Combined Shareholders’ General Meeting of 8 April 2021.
Reciprocal operations and transactions relating to assets, liabilities, income and expenses between companies that are fully consolidated are eliminated in the consolidated financial statements.
Where a fully consolidated Group entity carries out a transaction with a joint venture or associate that is accounted for under the equity method, income and losses resulting from the transaction are only recognised in the Group’s consolidated financial statements to the extent of the interest owned by third parties in the joint venture or associate.
In most cases, the functional currency of companies and establishments is their local currency.
The financial statements of foreign companies of which the functional currency is different from that used in preparing the Group’s consolidated financial statements are translated at the closing rate for balance sheet items and at the average rate for the period for income statement items. Any resulting translation differences are recognised under other comprehensive income. Goodwill relating to foreign entities forms part of the assets acquired and is therefore denominated in the company’s functional currency and translated at the exchange rate in force at the balance sheet date.
Transactions in foreign currency are translated into euros at the exchange rate at the transaction date. Monetary assets and liabilities denominated in foreign currencies are translated at the closing rate. Foreign exchange gains and losses are recognised in income.
Foreign exchange gains and losses arising on loans denominated in foreign currency or on foreign currency exchange rate derivatives qualifying as hedges of net investments in foreign subsidiaries are recorded under currency translation differences in equity.
