The Chief Executive Officer of Concessions at VINCI, the Chairman and Chief Executive Officer of VINCI Energies, the Chief Executive Officer of Cobra IS, the Chairman of VINCI Construction, and the Chairman of VINCI Immobilier exercise the powers given to them by law. Under the Group’s internal organisation, they are also required to comply with the general guidelines issued to them by VINCI’s Chief Executive Officer.
These apply to the following areas:
These general guidelines include compliance with the Group’s procedures regarding bidding or investments. These procedures define the thresholds above which specific authorisation must be obtained from the appropriate committees, namely the VINCI Risk Committee or the Strategy and CSR Committee of the Board of Directors, or where prior notification must be given to the Chief Executive Officer of VINCI and/or to the VINCI functional departments involved.
These guidelines are cascaded through the organisation by the heads of the business lines to their operational and functional staff for the provisions concerning them, as well as to managers serving as company officers in the companies within their business line.
The role of the VINCI Risk Committee is to assess, ahead of the commitment phase:
The monetary thresholds for vetting by the VINCI Risk Committee before a bid is submitted are defined in the general guidelines. Transactions below the level necessitating a review by the VINCI Risk Committee are managed by the business lines and divisions according to their own procedures and delegation of authority; these are consistent with the Group’s reference framework.
The VINCI Risk Committee has the following members:
The business lines each have an operations monitoring system tailored to the specific nature of their activities and that enables them to monitor the progress of projects and contracts as well as human resources (HR) indicators. These systems are compatible with those used to prepare and process financial and accounting information as described below, as the holding company performs a consolidation for the principal indicators.
Monthly dashboard reports on business, new orders, the order book, key operating indicators and the Group’s net financial debt are prepared on the basis of information provided by the business lines.
The senior managers of the business lines and divisions prepare a monthly report on key events.
The budget procedure is common to all Group business lines. It is built around five key dates in the year: the initial budget for year Y at the end of year Y−1, followed by four budget updates over the course of year Y prior to each quarterly closing. The business lines also participate in the regular monitoring of VINCI’s social and environmental responsibility commitments as described in the sustainability report, and in HR monitoring, with a particular emphasis on the safety of people working at each of the Group’s sites.
All of the Group’s subsidiaries draw up business continuity plans, notably to ensure operational effectiveness when faced with a health crisis, an extreme weather event or a cyberattack.
For concessions, business continuity plans are put in place for each element of infrastructure under concession (airports, motorways, stadiums, tunnels, railways, etc.). They call for measures to be implemented and for the organisation to be adapted to various crisis scenarios, including health or political crises.
The Budgets and Consolidation Department, reporting to the Finance Department, is responsible for the integrity and reliability of VINCI’s financial information (parent company and consolidated financial statements) disseminated inside and outside the Group. To ensure the statements are produced, the department is specifically in charge of:
