Recently, Eiffage has increased the capital for its employees within the Common Investment Fund Eiffage Accionariado (FCPE). Some weeks ago in Albacete during a meeting of personnel and collaborators, Christian Cassayre, financial director of Eiffage Group, stated that the objective is for the employees to become shareholders and benefit from its many advantages.
The FCPE is a fund under French law dedicated to employee savings mechanisms/schemes that allow its participants to hold shares of the company. The FCPE Eiffage Accionariado buys shares of Eifagge for a reduced price for its employees who will become indirect shareholders of Eiffage and also co-owners.
There are various reasons for which the employees are encouraged to take part in this program, which from this year on will be opened annually for 2.500 employees of Eiffage in Spain: becoming part of the Group’s culture promoted for the last 25 years; protecting the capital of Eiffage; buying shares for a preferential price; earning dividends of the company; benefiting from the good results of the Group; generating long-term savings; and contributing to the development of the company group.
The employees interested in participating in this venture will be able to make the payment in one of two ways. The first option is a payment, up to 800€, with an advance on the salary made by the company that will be deducted from employee’s salary in eight installments. Advance on the salary cannot exceed a third of the net monthly salary of the employee.
Other option is to make the payment using personal savings with administrative costs and other commissions charged to the Eiffage. In this way, an employee who invested 1.000€ in 2013, 2014 and 2015, until now will have saved 5.414€; that is more than 180%. The dividends are capitalized in FCPE and the employee-shareholder will benefit from them once the savings are liquidated.
The history of Eiffage is connected with shares held by its employees. Currently, the Group has 66.000 employees or former employees who are also shareholders and who can also be, since 2016, employees of Eiffage Energía. Also, in another innovation, shareholders will soon be able to check the status of their shares in real time on the corporate website in a simple and user-friendly way.