In accordance with the sixth paragraph of Article L.22-10-9 I of the French Commercial Code, it is noted that the ratio between the Chairman and Chief Executive Officer’s total annual remuneration (fixed, variable and long-term components) and
The indicators mentioned in Article L.22-10-9 recorded the movements shown in the table below:
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Change from the prior year in the Chairman and Chief Executive Officer’s remuneration | Change from the prior year in the Chairman and Chief Executive Officer’s remuneration 2019 +8.8%(**) |
Change from the prior year in the Chairman and Chief Executive Officer’s remuneration 2020 +0.5%(**) |
Change from the prior year in the Chairman and Chief Executive Officer’s remuneration 2021 −9.2%(**) |
Change from the prior year in the Chairman and Chief Executive Officer’s remuneration 2022 +27.9%(**) |
Change from the prior year in the Chairman and Chief Executive Officer’s remuneration 2023 +14.8%(**) |
| Change from the prior year in net income attributable to owners of the parent | Change from the prior year in net income attributable to owners of the parent 2019 +9.3% |
Change from the prior year in net income attributable to owners of the parent 2020 −61.9% |
Change from the prior year in net income attributable to owners of the parent 2021 +109.1% |
Change from the prior year in net income attributable to owners of the parent 2022 +64% |
Change from the prior year in net income attributable to owners of the parent 2023 +10.4% |
| Change from the prior year in the average remuneration(*) of the Company’s employees | Change from the prior year in the average remuneration (*)of the Company’s employees 2019 +5.0% |
Change from the prior year in the average remuneration (*)of the Company’s employees 2020 −4.1% |
Change from the prior year in the average remuneration (*)of the Company’s employees 2021 +4.4% |
Change from the prior year in the average remuneration (*)of the Company’s employees 2022 +9.9% |
Change from the prior year in the average remuneration (*)of the Company’s employees 2023 +8.1% |
| Change from the prior year in the average remuneration(*) of the employees in France of companies over which VINCI has exclusive control | Change from the prior year in the average remuneration (*)of the employees in France of companies over which VINCI has exclusive control 2019 +1.2% |
Change from the prior year in the average remuneration (*)of the employees in France of companies over which VINCI has exclusive control 2020 −4.7% |
Change from the prior year in the average remuneration (*)of the employees in France of companies over which VINCI has exclusive control 2021 +3.9% |
Change from the prior year in the average remuneration (*)of the employees in France of companies over which VINCI has exclusive control 2022 +3.1% |
Change from the prior year in the average remuneration (*)of the employees in France of companies over which VINCI has exclusive control 2023 +5.1% |
| Annual change in Ratio A | Annual change in Ratio A 2019 +3.7% |
Annual change in Ratio A 2020 +4.6% |
Annual change in Ratio A 2021 −13.1% |
Annual change in Ratio A 2022 +16.5% |
Annual change in Ratio A 2023 +6.2% |
| Annual change in Ratio B | Annual change in Ratio B 2019 +5.1% |
Annual change in Ratio B 2020 −6.0% |
Annual change in Ratio B 2021 −8.4% |
Annual change in Ratio B 2022 +17.1% |
Annual change in Ratio B 2023 +11.0% |
| Annual change in Ratio C | Annual change in Ratio C 2019 +7.6% |
Annual change in Ratio C 2020 +5.4% |
Annual change in Ratio C 2021 −12.5% |
Annual change in Ratio C 2022 +24.2% |
Annual change in Ratio C 2023 +9.3% |
(*) Remuneration amount including fixed and variable components, the employer contribution, long-term incentive payments, the fair value of performance share awards and benefits in kind.
(**) Remuneration amount including the fixed component paid in year Y, the short-term variable component in respect of year Y−1 paid in year Y, the IFRS 2 fair value of the share award granted in year Y as the long-term component of remuneration, benefits in kind and remuneration as a Board member paid in year Y.
At its meeting of 7 February 2024, the Board, acting on a proposal from the Remuneration Committee and, for the managerial and ESG parts, on a proposal prepared jointly by this committee and the Appointments and Corporate Governance Committee, approved as shown below the short-term variable remuneration payable to Mr Huillard in respect of 2023.
Economic and financial part
The following movements were recorded for the indicators relating to economic and financial performance in 2023:
| Indicator | 2023 | 2022 | 2023/2022 change | 2023 bonus (in €) | Upper limit applicable in 2023 |
|---|---|---|---|---|---|
| Earnings per share attributable to owners of the parent (in €) | Earnings per share attributable to owners of the parent (in €)20238.18 |
Earnings per share attributable to owners of the parent (in €)20227.47 |
Earnings per share attributable to owners of the parent (in €)2023/2022 change+9.5% |
Earnings per share attributable to owners of the parent (in €)2023 bonus (in €)408,551 |
Earnings per share attributable to owners of the parent (in €)Upper limit applicable in 2023€416,000 potentially raised to €499,200 (**) |
| Recurring operating income (in € millions) | Recurring operating income (in € millions)20238,175 |
Recurring operating income (in € millions)20226,481 |
Recurring operating income (in € millions)2023/2022 change+26.1% |
Recurring operating income (in € millions)2023 bonus (in €)483,127 |
Recurring operating income (in € millions)Upper limit applicable in 2023€416,000 potentially raised to €499,200 |
| Operating cash flow(*) (in € millions) | Operating cash flow (*) (in € millions)20238,179 |
Operating cash flow (*) (in € millions)20226,649 |
Operating cash flow (*) (in € millions)2023/2022 change+23.0% |
Operating cash flow (*) (in € millions)2023 bonus (in €)470,147 |
Operating cash flow (*) (in € millions)Upper limit applicable in 2023€416,000 potentially raised to €499,200 |
| Capping effect | Capping effect 2023
|
Capping effect 2022
|
Capping effect 2023/2022 change
|
Capping effect 2023 bonus (in €)−113,826 |
Capping effect Upper limit applicable in 2023
|
| Total economic and financial part | Total economic and financial part2023
|
Total economic and financial part2022
|
Total economic and financial part2023/2022 change
|
Total economic and financial part2023 bonus (in €)€1,248,000 | Total economic and financial partUpper limit applicable in 2023€1,248,000 |
(*) Excluding investments in renewable energy.
(**) After applying the outperformance rule mentioned in paragraph 4.1.2.3.
The Group’s performance showed improvement between 2022 and 2023 for each of the three indicators. The economic and financial part reached the upper limit provided for by the remuneration policy after the capping effect.
