Remuneration policy

Personnel expenses increased by 20.75%, to 3.8 million euro, 87.7% of which corresponded to payment of wages and salaries and the rest to employee welfare expenses.

Ferrovial continued implementing a fixed and variable remuneration system, aiming to remain highly competitive in the market. The variable remuneration system is now in place for 20.2% of all employees, and covers almost all structural personnel.

This remuneration policy is complemented with other plans, among them, remuneration systems pegged to the share price and personalised compensation programmes (PCP), which enables a part of annual fixed remuneration to be allocated to specific products and services in more advantageous conditions

As part of Ferrovial's remuneration policy, 2007 saw the launch of the III Stock Option Plan as a mechanism for remunerating and retaining our management team. This plan, which is open to more than 500 professionals, gives managers the right to purchase shares in Grupo Ferrovial, S.A. at a price equivalent to the quotation value on the purchase date, subject to the obtaining of a specific profit, which can be exercised after a certain period of time has passed. 

The stock option plan, designed as a long-term remuneration tool, is aimed at encouraging our professionals' commitment to our organisation, giving us a stable management team that is in line with Ferrovial interests.

In 2007, Ferrovial continued its "Plan 12,000", a remuneration program that consists in the payment of a part of beneficiaries' variable remuneration - approximately 430 people in the collectives of managers, heads of department or equivalent with tax residence in Spain - via the delivery of company shares.  A total of 370 employees in the group's companies benefit from this plan, with the exception of Cintra which, as a listed company, has its own plan from which 60 people benefit.