The results of this benchmarking exercise are summarised in the charts below:
This chart shows VINCI vs French peer group in 2024, across three key indicators: Revenue (in €bn), Number of employees (in thousands), and Market capitalisation (in €bn).
In 2024, VINCI achieved revenue of approximately €75bn. The Median of French peer group recorded revenue of approximately €40bn.
The Third quartile of French peer group recorded revenue of approximately €50bn.
VINCI employed approximately 290,000 employees, well above the Median of French peer group at approximately 100,000 employees, and the Third quartile of French peer group at approximately 155,000 employees.
In terms of Market capitalisation, VINCI reached approximately €75bn.
The Median of French peer group stood at approximately €40bn and the Third quartile of French peer group at approximately €110bn.
This chart shows the capped remuneration of VINCI's CEO vs French peer group in 2024, across three indicators (in € thousands): Fixed remuneration, Short-term remuneration (fixed + variable), and Total target remuneration.
In 2024, the Fixed remuneration Upper limit for VINCI's CEO was approximately €1,200,000. The Median of French peer group was approximately €1,100,000 and the Third quartile of French peer group approximately €1,200,000.
For Short-term remuneration (fixed + variable), the Upper limit for VINCI's CEO reached approximately €3,200,000. The Median of French peer group was approximately €2,600,000 and the Third quartile of French peer group approximately €3,800,000.
For Total target remuneration, the Upper limit for VINCI's CEO reached approximately €6,200,000. The Median of French peer group was approximately €5,100,000 and the Third quartile of French peer group approximately €8,100,000
This benchmarking exercise shows that the upper limit of the Chief Executive Officer’s remuneration, in line with the approved policy, would be below that applied by the companies within the third quartile of the peer group and slightly above that applied by those within the median of the peer group, whereas VINCI sits well above the median in relation to the revenue, headcount and market capitalisation indicators.
Chairman of the Board
At the request of the Remuneration Committee, a benchmarking exercise relating to the fixed remuneration applicable to the separate Chairman of the Board was also conducted by an independent firm, based on the latest publicly available information. The remuneration policy was compared with that applicable to the chairmen of the 26 companies in the CAC 40 having opted to separate the roles of board chairman and chief executive officer.
This chart shows the Remuneration of chairmen in euros, comparing VINCI to the Median, Average and Third quartile of the panel.
In 2024, the Median of the panel was approximately €620,000. The Average of the panel was approximately €770,000. The remuneration of VINCI's chairman was approximately €900,000. The Third quartile of the panel was approximately €920,000.
4.1.3.2 Internal comparison
In accordance with the sixth paragraph of Article L.22-10-9 I of the French Commercial Code as well as the Afep-Medef code, the Company is required to disclose the ratio between the total annual remuneration (fixed, variable and long-term components) for VINCI SA’s executive and non-executive officers and:
- the average full-time equivalent remuneration of VINCI SA’s employees, not including company officers, employed from 1 January to 31 December (Ratio A);
- the median full-time equivalent remuneration of VINCI SA’s employees, not including company officers, employed from 1 January to 31 December (Ratio B);
- the average full-time equivalent remuneration of employees in France of French companies over which VINCI has exclusive control within the meaning of Article L.233-16 II of the Commercial Code, not including VINCI SA’s executive and non-executive officers, employed from 1 January to 31 December (Ratio C).
In 2025, the Board of Directors took note of the end of service for the Chairman and Chief Executive Officer in his combined role on 30 April and the appointment of a Chairman of the Board and a Chief Executive Officer on 1 May. For this reason, the remuneration paid in 2025 to each of them does not correspond to that for a full year, and the ratios calculated on the basis of actual remuneration are thus not representative. In order to adjust for this situation, the Company is also disclosing the ratios calculated for each of the executive and non-executive officers on the basis of a theoretical remuneration amount corresponding to that which would have been reached if they had been calculated on a full-year basis.
| Chairman and Chief Executive Officer’s 2025 remuneration (actual)(1) | Chairman and Chief Executive Officer’s 2025 remuneration (theoretical)(2) | Chairman of the Board’s 2025 remuneration (actual)(3) | Chairman of the Board’s 2025 remuneration (theoretical)(4) | Chief Executive Officer’s 2025 remuneration (actual)(5) | Chief Executive Officer’s 2025 remuneration (theoretical)(6) | |
|---|---|---|---|---|---|---|
| Ratio A | Ratio A Chairman and Chief Executive Officer’s 2025 remuneration (actual) (1)18.4 |
Ratio A Chairman and Chief Executive Officer’s 2025 remuneration (theoretical) (2)24.8 |
Ratio A Chairman of the Board’s 2025 remuneration (actual) (3)4.5 |
Ratio A Chairman of the Board’s 2025 remuneration (theoretical) (4)6.8 |
Ratio A Chief Executive Officer’s 2025 remuneration (actual) (5)23.3 |
Ratio A Chief Executive Officer’s 2025 remuneration (theoretical) (6)26.6 |
| Ratio B | Ratio B Chairman and Chief Executive Officer’s 2025 remuneration (actual) (1)33.1 |
Ratio B Chairman and Chief Executive Officer’s 2025 remuneration (theoretical) (2)44.9 |
Ratio B Chairman of the Board’s 2025 remuneration (actual) (3)8.2 |
Ratio B Chairman of the Board’s 2025 remuneration (theoretical) (4)12.2 |
Ratio B Chief Executive Officer’s 2025 remuneration (actual) (5)42.2 |
Ratio B Chief Executive Officer’s 2025 remuneration (theoretical) (6)48 |
| Ratio C | Ratio C Chairman and Chief Executive Officer’s 2025 remuneration (actual) (1)45.1 |
Ratio C Chairman and Chief Executive Officer’s 2025 remuneration (theoretical) (2)61.2 |
Ratio C Chairman of the Board’s 2025 remuneration (actual) (3)11.1 |
Ratio C Chairman of the Board’s 2025 remuneration (theoretical) (4)16.7 |
Ratio C Chief Executive Officer’s 2025 remuneration (actual) (5)57.5 |
Ratio C Chief Executive Officer’s 2025 remuneration (theoretical) (6)65.6 |