Compensation
Fiscal year 2025
- The document does not contain specific details regarding the compensation of directors and senior management.
- Aggregate remuneration for the Executive Directors for the fiscal year ended March 31, 2025, was £4,564,000, and for 2024, it was £4,395,000.
- Individual remuneration details are provided for Margherita Della Valle (Group Chief Executive) and Luka Mucic (Chief Financial Officer) for 2025 and 2024.
- Compensation components include salary/fees, taxable benefits, annual bonuses (GSTIP), long-term incentive awards (GLTI awards and GLTI dividends), and pension/cash in lieu of pension.
- Annual bonus payouts for FY2025 were 58.6% of the maximum opportunity (200% of base salary), based on performance in Service Revenue, Adjusted EBIT, Adjusted Free Cash Flow, Revenue Market Share, Net Promoter Score, and Churn.
- Long-term incentive (GLTI) awards granted in July 2022 (vesting July 2025) will vest at 42.5% of maximum, driven by adjusted free cash flow performance (54.2% of maximum) and ESG performance (100% of maximum), with no vesting from relative TSR.
- Executive Directors are eligible for a defined contribution pension scheme or a cash allowance equal to 10% of their base salary; Margherita Della Valle received £10,000 in pension contributions and the rest as cash allowance, while Luka Mucic received a full cash allowance.
Key figures
- Margherita Della Valle 2025 Salary/fees
- $1,575,000£'000 (converted from 1,250 in thousands)
- Margherita Della Valle 2025 Taxable benefits
- $71,820£'000 (converted from 57 in thousands)
- Margherita Della Valle 2025 Annual bonus (GSTIP)
- $1,844,640£'000 (converted from 1,464 in thousands)
- Margherita Della Valle 2025 GLTI awards
- $1,646,820£'000 (converted from 1,307 in thousands)
- Margherita Della Valle 2025 GLTI dividends
- $454,860£'000 (converted from 361 in thousands)
- Margherita Della Valle 2025 Pension/cash in lieu of pension
- $157,500£'000 (converted from 125 in thousands)
- Luka Mucic 2025 Salary/fees
- $957,600£'000 (converted from 760 in thousands)
- Luka Mucic 2025 Taxable benefits
- $176,400£'000 (converted from 140 in thousands)
- Luka Mucic 2025 Annual bonus (GSTIP)
- $1,121,400£'000 (converted from 890 in thousands)
- Luka Mucic 2025 Pension/cash in lieu of pension
- $95,760£'000 (converted from 76 in thousands)
- Group Executive Committee 2025 Aggregate Pension Contributions (excluding Executive Directors)
- $76,153£'000 (converted from 60,439 in units)
- Margherita Della Valle 2023 GLTI Share Awards Vesting (July 2025)
- $1,646,326£'000 (converted from 1,306,607 in units)