The achievement rate for the Chief Executive Officer’s variable compensation is measured at two points in time: following publication of the half-year interim results for Fiscal 2021 and following publication of the annual results for Fiscal 2021.
| WEIGHTING OF TARGETS | MAXIMUM IN% OF TARGET | ACHIEVEMENT RATE 1ST HALF | ACHIEVEMENT RATE 2ND HALF | CORRESPONDING AMOUNT (in euro) | ||
|---|---|---|---|---|---|---|
| 70% based on financial criteria, with semestrial targets | 70% based on financial criteria, with semestrial targets
Organic growth |
70% based on financial criteria, with semestrial targets WEIGHTING OF TARGETS20% |
70% based on financial criteria, with semestrial targets MAXIMUM IN% OF TARGET100% |
70% based on financial criteria, with semestrial targets ACHIEVEMENT RATE 1ST HALF100% |
70% based on financial criteria, with semestrial targets ACHIEVEMENT RATE 2ND HALF100% |
70% based on financial criteria, with semestrial targets CORRESPONDING AMOUNT(in euro) 180,000 |
Underlying operating profit margin (excluding exchange rate impacts) |
20% |
WEIGHTING OF TARGETS 100% |
MAXIMUM IN% OF TARGET 100% |
ACHIEVEMENT RATE 1ST HALF 100% |
ACHIEVEMENT RATE 2ND HALF180,000 | |
Growth in Group net income |
10% |
WEIGHTING OF TARGETS 100% |
MAXIMUM IN% OF TARGET 100% |
ACHIEVEMENT RATE 1ST HALF 100% |
ACHIEVEMENT RATE 2ND HALF90,000 | |
Free cash flow |
20% |
WEIGHTING OF TARGETS 100% |
MAXIMUM IN% OF TARGET 100% |
ACHIEVEMENT RATE 1ST HALF 100% |
ACHIEVEMENT RATE 2ND HALF180,000 | |
Total financial targets |
70% |
WEIGHTING OF TARGETS100% | MAXIMUM IN% OF TARGET100% | ACHIEVEMENT RATE 1ST HALF100% | ACHIEVEMENT RATE 2ND HALF630,000 | |
| 30% based on non-financial criteria, with annual targets | 30% based on non-financialcriteria, with annual targets
Health and safety target |
30% based on non-financialcriteria, with annual targets WEIGHTING OF TARGETS10% |
30% based on non-financialcriteria, with annual targets MAXIMUM IN% OF TARGET100% |
30% based on non-financialcriteria, with annual targets ACHIEVEMENT RATE 1ST HALFN/A |
30% based on non-financialcriteria, with annual targets ACHIEVEMENT RATE 2ND HALF0% |
30% based on non-financialcriteria, with annual targets CORRESPONDING AMOUNT(in euro) — |
Talent management |
10% |
WEIGHTING OF TARGETS 100% |
MAXIMUM IN% OF TARGET N/A |
ACHIEVEMENT RATE 1ST HALF 100% |
ACHIEVEMENT RATE 2ND HALF90,000 | |
Dow Jones Sustainability Index, in the top three for the industry |
10% |
WEIGHTING OF TARGETS 100% |
MAXIMUM IN% OF TARGET N/A |
ACHIEVEMENT RATE 1ST HALF 100% |
ACHIEVEMENT RATE 2ND HALF90,000 | |
Total non-financial targets |
30% |
WEIGHTING OF TARGETS100% | MAXIMUM IN% OF TARGETN/A | ACHIEVEMENT RATE 1ST HALF66.6% | ACHIEVEMENT RATE 2ND HALF180,000 | |
| TOTAL VARIABLE COMPENSATION FOR FISCAL 2021 | TOTAL VARIABLE COMPENSATION FOR FISCAL 2021
|
TOTAL VARIABLE COMPENSATION FOR FISCAL 2021WEIGHTING OF TARGETS100% | TOTAL VARIABLE COMPENSATION FOR FISCAL 2021MAXIMUM IN% OF TARGET100% | TOTAL VARIABLE COMPENSATION FOR FISCAL 2021ACHIEVEMENT RATE 1ST HALF
|
TOTAL VARIABLE COMPENSATION FOR FISCAL 2021ACHIEVEMENT RATE 2ND HALF90% | TOTAL VARIABLE COMPENSATION FOR FISCAL 2021CORRESPONDING AMOUNT (in euro) 810,000 |
| VARIABLE COMPENSATION AWARDED FOR FISCAL 2021 | VARIABLE COMPENSATION AWARDED FOR FISCAL 2021
|
VARIABLE COMPENSATION AWARDED FOR FISCAL 2021 WEIGHTING OF TARGETS
|
VARIABLE COMPENSATION AWARDED FOR FISCAL 2021 MAXIMUM IN% OF TARGET
|
VARIABLE COMPENSATION AWARDED FOR FISCAL 2021 ACHIEVEMENT RATE 1ST HALF
|
VARIABLE COMPENSATION AWARDED FOR FISCAL 2021 ACHIEVEMENT RATE 2ND HALF
|
VARIABLE COMPENSATION AWARDED FOR FISCAL 2021 CORRESPONDING AMOUNT(in euro) 810,000 |
Only the Health & Safety criteria was not met despite strong performance this year showing an improvement of the LTIR (Lost Time Incident Rate) from 0.77 to 0.71 over the year, i.e. a reduction of 8%.
Financial performance in Fiscal 2020 was deeply impacted by the sanitary crisis. The level of attainment of the objectives was 27.5%, hence, variable compensation would have been 247,500 euro. However, given the unprecedented sanitary crisis caused by the Covid-19 pandemic, the Board of Directors decided to cancel his variable compensation for Fiscal 2020.
| WEIGHTING OF TARGETS | MAXIMUM IN% OF TARGET | ACHIEVEMENT RATE | CORRESPONDING AMOUNT (in euro) | ||
|---|---|---|---|---|---|
| 70% based on financial targets | 70% based on financial targets
Organic growth |
70% based on financial targets WEIGHTING OF TARGETS20% |
70% based on financial targets MAXIMUM IN% OF TARGET175% |
70% based on financial targets ACHIEVEMENT RATE0% |
70% based on financial targets CORRESPONDING AMOUNT(in euro) — |
Underlying operating profit margin (excluding exchange rate impacts) |
20% |
WEIGHTING OF TARGETS 175% |
MAXIMUM IN% OF TARGET 0% |
ACHIEVEMENT RATE — |
|
Growth in Group net income |
10% |
WEIGHTING OF TARGETS 175% |
MAXIMUM IN% OF TARGET 0% |
ACHIEVEMENT RATE — |
|
Free cash flow |
20% |
WEIGHTING OF TARGETS 175% |
MAXIMUM IN% OF TARGET 0% |
ACHIEVEMENT RATE — |
|
Total financial targets |
70% |
WEIGHTING OF TARGETS175% | MAXIMUM IN% OF TARGET0% | ACHIEVEMENT RATE— | |
| 30% based on non-financial targets | 30% based on non-financialtargets
Health and safety target |
30% based on non-financialtargets WEIGHTING OF TARGETS10% |
30% based on non-financialtargets MAXIMUM IN% OF TARGET100% |
30% based on non-financialtargets ACHIEVEMENT RATE100% |
30% based on non-financialtargets CORRESPONDING AMOUNT(in euro) 90 000 |
Talent management |
10% |
WEIGHTING OF TARGETS 100% |
MAXIMUM IN% OF TARGET 75% |
ACHIEVEMENT RATE 67 500 |
|
Dow Jones Sustainability Index, in the top three for the industry |
10% |
WEIGHTING OF TARGETS 100% |
MAXIMUM IN% OF TARGET 100% |
ACHIEVEMENT RATE 90 000 |
|
Total non-financial targets |
30% |
WEIGHTING OF TARGETS100% | MAXIMUM IN% OF TARGET91.6% | ACHIEVEMENT RATE247,500 | |
| TOTAL VARIABLE COMPENSATION FOR FISCAL 2020 | TOTAL VARIABLE COMPENSATION FOR FISCAL 2020
|
TOTAL VARIABLE COMPENSATION FOR FISCAL 2020WEIGHTING OF TARGETS100% | TOTAL VARIABLE COMPENSATION FOR FISCAL 2020MAXIMUM IN% OF TARGET150% | TOTAL VARIABLE COMPENSATION FOR FISCAL 2020ACHIEVEMENT RATE27.5% | TOTAL VARIABLE COMPENSATION FOR FISCAL 2020CORRESPONDING AMOUNT (in euro) 247,500 |
| VARIABLE COMPENSATION AWARDED FOR FISCAL 2020 | VARIABLE COMPENSATION AWARDED FOR FISCAL 2020
|
VARIABLE COMPENSATION AWARDED FOR FISCAL 2020WEIGHTING OF TARGETS
|
VARIABLE COMPENSATION AWARDED FOR FISCAL 2020MAXIMUM IN% OF TARGET
|
VARIABLE COMPENSATION AWARDED FOR FISCAL 2020ACHIEVEMENT RATE
|
VARIABLE COMPENSATION AWARDED FOR FISCAL 2020CORRESPONDING AMOUNT (in euro) 0 |
No performance shares have been granted to Denis Machuel, Chief Executive Officer, during Fiscal 2022.
