Transactions with related companies recorded in 2024 break down as follows:
| (in € millions) | |
|---|---|
| Financial income | |
| Cash management current accounts | 33 |
| Loans to subsidiaries | 438 |
| Dividends received (including results of joint ventures) | 2,138 |
| Other | 380 |
| Financial expense | |
| Cash management current accounts | (161) |
| Other | (107) |
| (in € millions) | 31/12/2024 | 31/12/2023 |
|---|---|---|
| Sureties and guarantees |
Sureties and guarantees 31/12/20241,435 |
Sureties and guarantees 31/12/2023 1,269 |
| Retirement benefit obligations |
Retirement benefit obligations 31/12/202428 |
Retirement benefit obligations 31/12/2023 30 |
| Share buy-back commitments |
Share buy-back commitments 31/12/2024- |
Share buy-back commitments 31/12/2023 592 |
| Commitments given | Commitments given31/12/20241,463 |
Commitments given 31/12/2023 1,891 |
| Sureties and guarantees |
Sureties and guarantees 31/12/2024520 |
Sureties and guarantees 31/12/2023 520 |
| Commitments received | Commitments received31/12/2024520 |
Commitments received 31/12/2023 520 |
The line item “Sureties and guarantees” relates mainly to the guarantees given on behalf of subsidiaries, by VINCI SA in favour of financial institutions or directly to their customers. The guarantees received relate to the assessment of seller’s guarantees received by VINCI SA as part of the Cobra IS acquisition.
Retirement benefit obligations comprise lump sums payable on retirement to VINCI SA personnel and supplementary retirement benefits in favour of certain Group employees or company officers in service. Retirement benefit obligations are calculated on the basis of the actuarial assumptions mentioned in Note 5, “Provisions”, page 397.
Remuneration of executives
Remuneration, including social benefit charges, recognised in respect of members of the Group’s governance bodies, for the share borne by VINCI in 2024, breaks down as follows:
| (in € millions) | Members of the Executive Committee | Directors who are not members of the Executive Committee |
|---|---|---|
| Remuneration |
Remuneration Members of the Executive Committee 13 |
Remuneration Directors who are not members of the Executive Committee - |
| Remuneration as Board members |
Remuneration as Board members Members of the Executive Committee - |
Remuneration as Board members Directors who are not members of the Executive Committee 1 |
Retirement benefit obligations towards members of governance bodies, corresponding to rights vested at 31 December 2024, break down as follows:
| (in € millions) | Members of the Executive Committee | Directors who are not members of the Executive Committee |
|---|---|---|
| Retirement benefit obligations |
Retirement benefit obligations Members of the Executive Committee 33 |
Retirement benefit obligations Directors who are not members of the Executive Committee - |
Governance body members also benefit from performance share plans.
Average numbers employed
The average number of people employed by the Company was 372 (including 304 engineers and managers) in 2024, as opposed to 341 (including 279 engineers and managers) in 2023. In addition, 20 employees on average were seconded to VINCI SA by other Group entities as opposed to 24 in 2023.
Appropriation of 2024 net income
The Board of Directors finalised the financial statements for the year ended 31 December 2024 on 6 February 2025. These financial statements will only become definitive when approved at the Shareholders’ General Meeting to be held on 17 April 2025. A resolution will be put to shareholders in that meeting for the payment of a dividend of €4.75 per share in respect of 2024. Taking account of the interim dividend already paid in October 2024 (€1.05 per share), this means that the final dividend will be €3.70 per share, representing a total of around €2,082 million.
Funding
On 7 January 2025, VINCI issued €300 million of floating rate notes, at a rate of three-month Euribor plus 35 basis points and due to mature in 2027. The whole issue was swapped to a fixed rate of 2.55%.
Extension of the syndicated credit facility
On 9 January 2025, VINCI SA extended the whole of its €6.5 billion syndicated revolving credit facility, which was entered into on 9 January 2024 for an initial term of five years, by one year. Accordingly, it is now due to expire in January 2030, and VINCI SA has a second option to extend it by a further year.
