VINCI has reserves (share premiums, merger and contribution premiums, reserves other than the statutory reserve) of an amount greater than the amount of all the treasury shares it owned directly or indirectly at 31 December 2025.
Dividends paid by VINCI SA in 2025 amounted to €2,665 million, corresponding to the final dividend in respect of 2024 for €2,077 million (€3.70 per share) paid in cash on 24 April 2025 and the interim dividend in respect of 2025 for €587 million (€1.05 per share) paid on 16 October 2025.
The share capital increases in 2025, amounting to €771 million, resulted from employee subscriptions to Group savings plans.
In addition, VINCI cancelled 7,471,813 treasury shares in two transactions in June and December 2025, with a purchase price of €511 million.
| (in € millions) | Number of shares | Capital | Share premiums and other reserves | Total |
|---|---|---|---|---|
| Employees’ subscriptions to Group savings plans |
Employees’ subscriptions to Group savings plans Number of shares 7,471,813 |
Employees’ subscriptions to Group savings plans Capital 19 |
Employees’ subscriptions to Group savings plans Share premiums and other reserves 752 |
Employees’ subscriptions to Group savings plans Total 771 |
| Decrease in share capital |
Decrease in share capital Number of shares (7,471,813) |
Decrease in share capital Capital (19) |
Decrease in share capital Share premiums and other reserves (492) |
Decrease in share capital Total (511) |
| Total |
Total Number of shares 0 |
Total Capital 0 |
Total Share premiums and other reserves 260 |
Total Total 260 |
Provisions are recorded in the balance sheet in respect of the Company’s obligations to pay supplementary pensions to certain employees or company officers, for the part relating to beneficiaries who are retired. An off-balance sheet commitment is recorded for the portion relating to beneficiaries who have not yet retired.
Retirement benefit obligations (lump sums paid on retirement and supplementary retirement benefit plans) are measured using the prospective actuarial method (the projected unit credit method) on the basis of external assessments made at each period end, for each existing plan.
Other provisions are intended to cover the risks arising from past or present events that are probable at the balance sheet date. They are estimates as regards their amount and expected period of use.
| (in € millions) | 31/12/2024 | Expense | Reversals | 31/12/2025 | |
|---|---|---|---|---|---|
| Used | Not used | ||||
| Liabilities in respect of subsidiaries | 9 | 0 | - | (6) | 3 |
| Other provisions for contingencies | 534 | 43 | (23) | - | 553 |
| Provisions for contingencies |
542 |
43 |
(23) |
(6) |
556 |
| Retirement and other employee benefit obligations | 22 | 1 | (2) | - | 21 |
| Other provisions for losses | 40 | 3 | (3) | - | 40 |
| Provisions for losses |
62 |
3 |
(5) |
- |
61 |
| Total |
605 |
46 |
(28) |
(6) |
617 |
| Of which operating charges and reversals | 1 | (2) | - | ||
| Of which financial charges and reversals | 42 | (17) | (6) | ||
| Of which charges and reversals relating to income tax | 3 | (3) | - | ||
Other provisions for contingencies relate in particular to:
Provisions for retirement and similar benefit obligations relate solely to beneficiaries who have retired. Provisions for retirement and similar benefit obligations are not recognised for active beneficiaries, but are recorded in off-balance sheet commitments.
Retirement benefit obligations are calculated on the basis of the following actuarial assumptions:
| 31/12/2025 | 31/12/2024 | |
|---|---|---|
| Discount rate |
Discount rate 31/12/2025 3.65% |
Discount rate 31/12/2024 3.30% |
| Inflation rate |
Inflation rate 31/12/2025 2.0% |
Inflation rate 31/12/2024 2.0% |
| Rate of pension increases |
Rate of pension increases 31/12/2025 2.0% |
Rate of pension increases 31/12/2024 2.0% |
| Rate of salary increases |
Rate of salary increases 31/12/2025 3.0% |
Rate of salary increases 31/12/2024 3.0% |
