VINCI sets up long-term incentive plans each year, which involve the granting of conditional awards of performance shares to selected beneficiaries. Under these plans, shares only vest at the end of a three-year period, subject to continued employment within the Group, and the number of shares vested is tied to performance conditions, involving both internal and external criteria.
| (in € millions) | Capital | Share premium | Reserves and retained earnings | Profit or loss | Total |
|---|---|---|---|---|---|
| Equity at 31/12/2021 |
Equity at 31/12/2021 Capital 1,481 |
Equity at 31/12/2021 Share premium 12,345 |
Equity at 31/12/2021 Reserves and retained earnings 16,293 |
Equity at 31/12/2021 Profit or loss 2,580 |
Equity at 31/12/2021Total32,699 |
| Appropriation of 2021 net income |
Appropriation of 2021 net income Capital
|
Appropriation of 2021 net income Share premium
|
Appropriation of 2021 net income Reserves and retained earnings 2,580 |
Appropriation of 2021 net income Profit or loss (2,580) |
Appropriation of 2021 net income Total– |
| Dividends paid in respect of 2022 |
Dividends paid in respect of 2022 Capital
|
Dividends paid in respect of 2022 Share premium
|
Dividends paid in respect of 2022 Reserves and retained earnings (1,637) |
Dividends paid in respect of 2022 Profit or loss
|
Dividends paid in respect of 2022 Total(1,637) |
| Increases in share capital |
Increases in share capital Capital 14 |
Increases in share capital Share premium 477 |
Increases in share capital Reserves and retained earnings
|
Increases in share capital Profit or loss
|
Increases in share capital Total491 |
| Decrease in share capital |
Decrease in share capital Capital (22) |
Decrease in share capital Share premium
|
Decrease in share capital Reserves and retained earnings (763) |
Decrease in share capital Profit or loss
|
Decrease in share capital Total(784) |
| Net income for 2022 |
Net income for 2022 Capital
|
Net income for 2022 Share premium
|
Net income for 2022 Reserves and retained earnings
|
Net income for 2022 Profit or loss 2,853 |
Net income for 2022 Total2,853 |
| Equity at 31/12/2022 |
Equity at 31/12/2022 Capital 1,473 |
Equity at 31/12/2022 Share premium 12,822 |
Equity at 31/12/2022 Reserves and retained earnings 16,473 |
Equity at 31/12/2022 Profit or loss 2,853 |
Equity at 31/12/2022 Total33,621 |
At 31 December 2022, VINCI’s share capital amounted to €1,473 million, represented by 589,387,330 shares with a nominal value of €2.50 each, all conferring the same rights.
VINCI has reserves (share premiums, merger and contribution premiums, reserves other than the statutory reserve) of an amount greater than the amount of all the treasury shares it owned directly or indirectly at 31 December 2022.
Dividends paid in 2022 amounted to €1,830 million, corresponding to the final dividend in respect of 2021 for €1,266 million (€2.25 per share) paid in cash on 28 April 2022 and the interim dividend in respect of 2022 for €564 million (€1.00 per share) paid on 17 November 2022.
The share capital increases in 2022, amounting to €491 million, resulted from employee subscriptions to Group savings plans.
In addition, VINCI cancelled 8,600,000 treasury shares in December 2022, with a purchase price of €784 million.
| (in € millions) | Number of shares | Capital | Share premiums and other reserves | Total |
|---|---|---|---|---|
| Employees’ subscriptions to Group savings plans |
Employees’ subscriptions to Group savings plans Number of shares 5,624,954 |
Employees’ subscriptions to Group savings plans Capital 14 |
Employees’ subscriptions to Group savings plans Share premiums and other reserves 477 |
Employees’ subscriptions to Group savings plans Total491 |
| Decrease in share capital |
Decrease in share capital Number of shares (8,600,000) |
Decrease in share capital Capital (22) |
Decrease in share capital Share premiums and other reserves (763) |
Decrease in share capital Total(784) |
| Total |
Total Number of shares (2,975,046) |
Total Capital (7) |
Total Share premiums and other reserves (286) |
Total Total(294) |
Provisions are recorded in the balance sheet in respect of the Company’s obligations to pay supplementary pensions to certain employees or company officers, for the part relating to beneficiaries who are retired. An off-balance sheet commitment is recorded for the portion relating to beneficiaries who have not yet retired.
Retirement benefit obligations (lump sums paid on retirement and supplementary retirement benefit plans) are measured using the prospective actuarial method (the projected unit credit method) on the basis of external assessments made at each period end, for each existing plan.
Other provisions are intended to cover the risks arising from past or present events that are probable at the balance sheet date.They are estimates as regards their amount and expected period of use.
| Reversals | |||||
|---|---|---|---|---|---|
| (in € millions) | 31/12/2021 | Expense | Provisions used | No longer needed | 31/12/2022 |
| Retirement and other employee benefit obligations | 26 | – | (2) | 25 | |
| Liabilities in respect of subsidiaries | 3 | 14 | – | 18 | |
| Other provisions | 523 | 406 | (286) | 643 | |
| Total | 553 | 421 | (288) | – | 685 |
Provisions for retirement and similar benefit obligations relate solely to beneficiaries who have retired. Provisions for retirement and similar benefit obligations are not recognised for active beneficiaries, but are recorded in off-balance sheet commitments.
