The Group’s off-balance sheet commitments are subject to specific reporting at each annual and interim closing. They are presented according to the activity to which they relate, in the corresponding notes.
| (in € millions) | 31/12/2022 | 31/12/2021 |
|---|---|---|
| Other commitments given | Other commitments given 31/12/20221,477 |
Other commitments given 31/12/2021 1,325 |
| Other commitments received | Other commitments received 31/12/2022781 |
Other commitments received 31/12/2021 310 |
These amounts include various tax and social security-related guarantees as well as personal sureties provided as performance guarantees relating to work done by concession companies, described in Note F.15.1, “Contractual investment and renewal obligations”, including the surety relating to Manaus airport, which accounts for most of the increase in other commitments given. The increase in commitments received relates mainly to the assessment of seller’s guarantees received by VINCI as part of the Cobra IS acquisition.
The commitments given and received by the Group in connection with concession contracts, construction and service contracts and items connected with unrecognised retirement benefit obligations are shown in the following notes:
VINCI has a share buy-back programme approved in its Shareholders’ General Meeting of 12 April 2022 for a period of 18 months, with a maximum purchase amount of €4 billion at a maximum price of €140 per share. During the year, VINCI acquired 11,949,984 shares on the market at an average price of €91.54 per share, for a total of €1,094 million.
Treasury shares (see Note H.20.2, “Treasury shares”) are allocated to financing external growth transactions and to covering performance share plans and the employer contributions to international employee share ownership plans. They may also be cancelled. Following the decision taken by the Board of Directors on 21 December 2022, VINCI SA cancelled 8,600,000 shares for €784 million.
VINCI’s employee savings policy aims to make it easier for Group employees to become shareholders. At 31 December 2022, over 48% of the Group’s employees were VINCI shareholders through employee share ownership plans (77% of employees in France). Since those funds own 9.94% of the company’s shares, the Group’s current and former employees form its largest group of shareholders.
Neither the Group’s consolidated equity nor the equity of parent company VINCI SA is subject to any external constraints in the form of financial covenants.
At 31 December 2022, the parent company’s share capital was represented by 589,387,330 ordinary shares of €2.50 nominal value each.
| 2022 | 2021 | |
|---|---|---|
| Number of shares at beginning of period | Number of shares at beginning of period2022592,362,376 | Number of shares at beginning of period 2021 588,519,218 |
| Increases in share capital | Increases in share capital 20225,624,954 |
Increases in share capital 2021 9,843,158 |
| Cancelled treasury shares | Cancelled treasury shares 2022(8,600,000) |
Cancelled treasury shares 2021 (6,000,000) |
| Number of shares at end of period | Number of shares at end of period2022589,387,330 | Number of shares at end of period 2021 592,362,376 |
| Number of shares issued and fully paid | Number of shares issued and fully paid 2022589,387,330 |
Number of shares issued and fully paid 2021 592,362,376 |
| Nominal value of one share (in €) | Nominal value of one share (in €)20222.5 |
Nominal value of one share (in €)2021 2.5 |
| Treasury shares held directly by VINCI | Treasury shares held directly by VINCI 202225,790,809 |
Treasury shares held directly by VINCI 2021 24,781,783 |
| of which shares allocated to covering performance share plans and employee share ownership plans | of which shares allocated to covering performance share plans and employee share ownership plans 202217,048,595 |
of which shares allocated to covering performance share plans and employee share ownership plans 2021 19,389,553 |
