The Board took into account the following factors:
| Indicator | Performance relative to prior year | Factors taken into account |
|---|---|---|
| Managerial performance and dialogue with stakeholders (15%) |
Managerial performance and dialogue with stakeholders (15%) Performance relative to prior year 100 % |
Managerial performance and dialogue with stakeholders (15%) Factors taken into account This indicator tracks the extent of the Group’s geographical diversification. The Board noted the continuing growth in revenue generated outside France and the increase in the relative contribution of the Group’s international activities (57.8%), in line with the targets set at the beginning of 2024. |
| Environment (9%) |
Environment (9%) Performance relative to prior year 100 % |
Environment (9%) Factors taken into account The Board had selected the following indicators to address environmental issues: managerial efforts to reduce the intensity of Scope 3 CO2 emissions and monitoring of reductions in Scope 1 and 2 CO2 emissions. The Board noted the progress made against the Group’s emissions reduction target for Scope 1 and 2 emissions, and efforts to reduce Scope 3 emissions. |
| Workforce safety and engagement (11%) |
Workforce safety and engagement (11%) Performance relative to prior year 64 % |
Workforce safety and engagement (11%) Factors taken into account The Board had selected the following criteria: (i) the effectiveness of workplace accident prevention policies by tracking the accident frequency rate; (ii) the development of employee share ownership programmes outside France by tracking the proportion of employees in other countries who are eligible to enrol in the Group savings plan; (iii) the increase in the percentage of women serving on leadership bodies by tracking their feminisation rate. The Board noted that the workplace accident frequency rate was still higher than the target and thus recorded a performance of 0% in relation to this criterion (weighted at 4%). However, the Board noted an improvement in female representation on leadership bodies as well as an increase in the percentage of employees outside France who are eligible to enrol in the Group savings plan. |
| Governance (5%) |
Governance (5%) Performance relative to prior year 100 % |
Governance (5%) Factors taken into account This indicator was used to track the quality of interactions with the Appointments and Corporate Governance Committee and the Board. The Board is satisfied with the progress made in preparing the succession process and with the various milestones achieved during the year. |
These achievements led the Board to set the performance-based remuneration for these criteria as follows:
| Indicator (in €) | 2023 bonus | Percentage of maximum bonus received in 2023 | 2024 bonus | Upper limit applicable in 2024 | Percentage of maximum bonus received in 2024 |
|---|---|---|---|---|---|
| Managerial performance |
Managerial performance 2023 bonus 312,000 |
Managerial performance Percentage of maximum bonus received in 2023 100% |
Managerial performance 2024 bonus 312,000 |
Managerial performance Upper limit applicable in 2024 312,000 |
Managerial performance Percentage of maximum bonus received in 2024 100% |
| ESG performance |
ESG performance 2023 bonus 438,006 |
ESG performance Percentage of maximum bonus received in 2023 84.2% |
ESG performance 2024 bonus 436,800 |
ESG performance Upper limit applicable in 2024 520,000 |
ESG performance Percentage of maximum bonus received in 2024 84% |
| Variable remuneration based on managerial and ESG performance |
Variable remuneration based on managerial and ESG performance 2023 bonus 750,006 |
Variable remuneration based on managerial and ESG performance Percentage of maximum bonus received in 2023 90.1 % |
Variable remuneration based on managerial and ESG performance 2024 bonus 748,800 |
Variable remuneration based on managerial and ESG performance Upper limit applicable in 2024 832,000 |
Variable remuneration based on managerial and ESG performance Percentage of maximum bonus received in 2024 90 % |
Total short-term variable remuneration for 2024
| Indicator (in €) | 2023 | 2024 | 2024/2023 change | Upper limit applicable in 2024 | Percentage of maximum bonus received in 2024 |
|---|---|---|---|---|---|
| Total economic and financial part |
Total economic and financial part 2023 1,248,000 |
Total economic and financial part 2024 1,248,000 |
Total economic and financial part 2024/2023 change 0% |
Total economic and financial part Upper limit applicable in 2024 1,248,000 |
Total economic and financial part Percentage of maximum bonus received in 2024 100% |
| Part based on managerial and ESG performance |
Part based on managerial and ESG performance 2023 750,006 |
Part based on managerial and ESG performance 2024 748,800 |
Part based on managerial and ESG performance 2024/2023 change −0.2% |
Part based on managerial and ESG performance Upper limit applicable in 2024 832,000 |
Part based on managerial and ESG performance Percentage of maximum bonus received in 2024 90% |
| Total variable remuneration |
Total variable remuneration 2023 1,998,006 |
Total variable remuneration 2024 1,996,800 |
Total variable remuneration 2024/2023 change −0.1% |
Total variable remuneration Upper limit applicable in 2024 2,080,000 |
Total variable remuneration Percentage of maximum bonus received in 2024 96 % |
At its meeting of 9 April 2024, the Board decided to grant a conditional award of VINCI shares to Mr Huillard, corresponding to a total fair value (under IFRS 2) of €3,380,000, i.e. the upper limit stipulated for such an award in the remuneration policy applicable to him. As the fair value of VINCI was calculated by an independent valuer at €94.63 per share, the Chairman and Chief Executive Officer was granted an award, in accordance with ordinary law, of 35,718 existing VINCI shares that will vest at the end of a three-year period on 9 April 2027, subject to applicable performance conditions that will be assessed at 31 December 2026 as described in paragraph 5.3.2, “Long-term incentive plan for the Chairman and Chief Executive Officer set up by the Board on 9 April 2024”, page 167. The condition of continued service will be assessed as set forth in paragraph 4.1.2.4, page 155.
Plans set up on 12 April 2022, 13 April 2023 and 9 April 2024
These plans are mentioned in paragraph 5.3.1, “Existing long-term incentive plans”, pages 166 and 167.
Mr Huillard is eligible to be granted conditional awards under the following long-term incentive plans remaining in force at 31 December 2024
| Number of shares | Fair value at the grant date (in €) | Percentage of the year’s total remuneration | Vesting date | |
|---|---|---|---|---|
| Plan set up on 12 April 2022 | 35,000 | 2,689,750 | 45.1% | 12/04/2025 |
| Plan set up on 13 April 2023 | 36,387 | 3,379,988 | 50.6% | 13/04/2026 |
| Plan set up on 9 April 2024 (*) | 35,718 | 3,379,994 | 50.6% | 09/04/2027 |
In accordance with the provisions of Article 26.3.3 of the Afep-Medef code, Mr Huillard made a commitment not to engage in any hedging transactions in respect of his own risks with regard to the shares in awards granted under the long-term incentive plans for which he is eligible, and agreed to respect this commitment until the end of the holding period for the shares as set by the Board, where applicable.