Florentino Pérez collected 6.6 million ACS in 2022, 12.6% more than the previous year

Florentino Pérez, executive president of ACS, received 6.65 million euros in 2022, which represents an increase of 12.6% over the previous year. The president of the construction group accumulates 47.9 million euros in his pension plan. To these incomes from Florentino Pérez are added the returns to which he is entitled as the group’s largest shareholder, with 13.5% of the shares. The CEO, Juan Santamaría, was paid 3.84 million.

The report on the remuneration of the directors that the construction company has sent this afternoon to the National Stock Market Commission (CNMV) details that Pérez received a fixed remuneration of 1.79 million; another variable of three million; 390,000 euros for his duties as director and 1,362 million in contributions to pension plans, to which must be added 32,000 euros in other concepts. The previous year the sum reached 5.911 million euros.

The company argues in the report that these salaries are based on “the good results of the group”, as well as “good growth prospects together with a solid and diversified portfolio of projects, mainly located in the United States and Australia”. These and other arguments support, according to the construction company, the remuneration of the top executives “and especially the executive president and the CEO, approved by the board at its meeting on March 23, 2023.”

In the last five years, the sum of his annual remuneration of the president reaches 31.5 million, the highest being the one he obtained in 2018, of 6.7 million, and the lowest that the company paid him in 2020, of 5, 8 million.

For his part, Juan Santamaría, the CEO of ACS appointed on May 6, 2022, received 3,843 million —a fixed remuneration of just over one million and another variable of 1,722 million—, which includes one million euros from his plan pensions and 40,000 euros for other concepts.

Luis del Valle, secretary director of the company, obtained a remuneration of 4,348 million (1.3% more than the previous year) and Antonio García Ferrer, vice president, another 2,197 million (1.5% more).

The 17 ACS directors received, in aggregate, 15 million euros during that year compared to 12.2 the previous year.

After invoicing 33,615 million euros, the net profit of the ACS group in 2022 amounted to 668 million, 66% more according to the company chaired by Florentino Pérez after “the contribution of the industrial services activity sold to Vinci” was eliminated. If that branch were included in the comparison, profit would have fallen by 7%.

The remuneration report must be submitted to a vote at the next shareholders’ meeting. In last year, the remuneration report received 4.5 million votes against, equivalent to 2.8% of the capital.

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