| 2025 | |||
|---|---|---|---|
| Group savings plan – France |
First four-month period of 2025 |
Second four-month period of 2025 |
Third four-month period of 2025 |
| Subscription price (in €) | 102.24 | 97.21 | 120.88 |
| Number of shares subscribed (in thousands) | 1,068 | 2,765 | 268 |
| Number of shares issued (subscriptions plus employer contribution, in thousands) | 1,757 | 4,067 | 440 |
| 2024 | |||
|---|---|---|---|
| Group savings plan – France |
First four-month period of 2024 |
Second four-month period of 2024 |
Third four-month period of 2024 |
|
Subscription price (in €) |
98.53 | 111.22 | 107.41 |
|
Number of shares subscribed (in thousands) |
3,040 | 278 | 351 |
| Number of shares issued (subscriptions plus employer contribution, in thousands) | 4,667 | 389 | 598 |
In 2025, in accordance with authorisations given to the Board of Directors by shareholders at the Shareholders’ General Meeting, VINCI initiated new savings plans for the employees of certain foreign subsidiaries (Castor International savings plans). The plans currently cover 45 countries, representing 96% of Group revenue and 83% of the Group’s workforce outside France.
The main characteristics of these plans are as follows:
| Castor International plans (excluding the UK) | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Subscription price (in €) |
Subscription price (in €)2025 125.33 |
Subscription price (in €)2024 112.37 |
Subscription price (in €)2023 109.73 |
Subscription price (in €)2022 91.71 |
| Closing share price on the last day of the subscription period (in €) |
Closing share price on the last day of the subscription period (in €)2025 124.65 |
Closing share price on the last day of the subscription period (in €)2024 114.45 |
Closing share price on the last day of the subscription period (in €)2023 107.58 |
Closing share price on the last day of the subscription period (in €)2022 90.14 |
| Anticipated dividend pay-out rate |
Anticipated dividend pay-out rate 2025 4.20% |
Anticipated dividend pay-out rate 2024 4.32% |
Anticipated dividend pay-out rate 2023 4.01% |
Anticipated dividend pay-out rate 2022 4.06% |
| Fair value of bonus shares on the last day of the subscription period (in €) |
Fair value of bonus shares on the last day of the subscription period (in €)2025 109.88 |
Fair value of bonus shares on the last day of the subscription period (in €)2024 100.55 |
Fair value of bonus shares on the last day of the subscription period (in €)2023 95.37 |
Fair value of bonus shares on the last day of the subscription period (in €)2022 79.81 |
The expense recognised in 2025 for all Group employee savings plans amounted to €349 million.
The Group’s transactions with related parties are undertaken at market prices and mainly concern:
The remuneration of the Group’s company officers is determined by the Board of Directors following proposals from the Remuneration Committee.
The table below shows the remuneration and similar benefits, on a full-year basis, granted by VINCI SA and the companies that it controls to persons who at the balance sheet date are (or, during the period, have been) members of the Group’s governing bodies and Executive Committee. The corresponding amounts have been recognised and expensed in 2025 and 2024 as follows:
| Members of governing bodies and the Executive Committee | ||
|---|---|---|
| (in € thousands) | 2025 | 2024 |
| Remuneration | 19,217 | 18,619 |
| Employer social contributions | 12,623 | 11,540 |
| Post-employment benefits | 1,087 | 1,098 |
| Termination benefits | 1,898 | 4,760 |
| Share-based payments(*) | 13,855 | 13,600 |
| Remuneration as Board members | 1,353 | 1,255 |
(*) This amount is determined in accordance with IFRS 2 and as described in Note K.30, “Share-based payments”.
The variable component of remuneration and similar benefits relating to 2025 is an estimate, for which a provision has been taken in the period.
The aggregate amount of retirement benefit obligations (contractual lump sums payable on retirement and supplementary defined benefit plans) in favour of members of the Group’s governing bodies and Executive Committee amounted to €53 million at 31 December 2025 (€65 million at 31 December 2024).
