Company: GIFLF
Filing Date: 2025-04-11
Form Type: 20-F
Source: 0001104659-25-034245
Chunk: 225

Company: Grifols SA
Filing Date: 2025-04-11
Form: 20-F
Item: Item 6
Chunk 225
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 on an annual basis and approved by the Board, following the proposal from the Appointments and Remuneration Committee and the Sustainability Committee, if applicable. These objectives are linked to different financial and non-financial metrics and parameters, all in accordance with the applicable remuneration policy. 
For the year ended on December 31, 2024, the following financial and non-financial metrics were established in the Director Remuneration Policy. In relation to each of them, the Board approved the following objectives:

●   Economic metrics related to the Grifols Group’s consolidated performance (with an aggregate weight of 40%):
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o   Target (with a weight of 15%): Achieve a certain level of operational performance calculated in constant currency;
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o   Target (with a weight of 25%): Reach a certain level of consolidated cash flow before debt service.
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●   Debt reduction metric (with a weight of 25%): Achieve a reduction of total debt levels in the second half of 2024.
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●   ESG metric based on key performance indicators (“KPIs”) (with a weight of 10%, where 2.5% is for environment KPIs, 4.0% for social KPIs and 3.5% for governance KPIs): Target to achieve 100% of the ESG objectives, which are aligned with our sustainability strategy, have been overseen by the Sustainability Committee and have been reviewed by our independent auditors.
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●   Innovation metric (with a weight of 10%): Achieve 7 milestones linked to innovation projects.
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●   Other operational metrics (with an aggregate weight of 15%):
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o   Target (with a weight of 5%): Announce and complete the transition of the organizational structure to a new CEO between April and December 2024; and
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o   Target (with a weight of 10%): Achieve consolidated sales growth of 7.3% in comparison to 2023, calculated in constant currency.
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Chief Executive Officer
Our Chief Executive Officer accrued €4.2 million (which included a non-recurring signing bonus) in cash remuneration in 2024 (€2.9 million in fixed compensation and €1.3 million in variable compensation, which has been paid). This variable compensation amount was calculated based on the achievement of the abovementioned specific