Remuneration Information • Mar 16, 2022
Remuneration Information
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The remuneration system and remuneration of the Supervisory Board and the Executive Board for financial year 2021 are presented in the following. The Executive Board and the Supervisory Board are responsible for preparing the remuneration report in accordance with Section 162 of the German Stock Corporation Act (AktG).
The Supervisory Board's remuneration is determined by the Annual General Meeting and governed by Section 12 of the Articles of Association of DMG MORI AKTIENGESELLSCHAFT. The remuneration system for the Supervisory Board was approved by the Annual General Meeting 2021 in accordance with Section 113 of the German Stock Corporation Act (AktG). The components of the Supervisory Board remuneration include the fixed remuneration that each member of the Supervisory Board receives, compensation for committee work as well as attendance fees for meetings.
In financial year 2021, the fixed remuneration entitlement of each individual Supervisory Board member amounted to € 60,000. The chairperson is entitled the 2.5-fold amount (€ 150,000). The Chairman of the Supervisory Board Dr. Eng. Masahiko Mori as well as James V. Nudo and Irene Bader have been waiving their complete Supervisory Board
remuneration. The vice chairperson is entitled to the 1.5-fold amount (€ 90,000). The entitlement from the base remuneration amounted to € 630,000 in total (previous year: € 630,000).
The remuneration entitlements for committee work totaled € 252,000 (previous year: € 235,033) and took into consideration the work performed in the Finance and Audit Committee, in the Personnel, Nomination and Remuneration Committee and in the Committee for Transactions with Related Parties. The individual committee members were entitled to € 18,000. The committee chairpersons received an additional fixed remuneration of € 18,000.
The members of the Supervisory Board and its committees receive an attendance fee of € 1,500 for each Supervisory Board and committee meeting they attend as a member.
In financial year 2021, the total remuneration paid to the Supervisory Board amounted to € 930,000 (previous year: € 892,530). The total base remuneration – less waived amounts – and committee remuneration amounted to € 819,000 (previous year: € 778,530). The meeting attendance fees amounted to € 111,000 (previous year: € 114,000).
| A.05 REMUNERATION GRANTED AND PAYABLE TO THE SUPERVISORY BOARD |
Committee remuneration: |
Committee remuneration: Personnel, Nomination |
Committee remu neration: Committee for Transactions with |
Base remuneration and committee |
Base remuneration less waivers (-10%) and |
Meeting | ||
|---|---|---|---|---|---|---|---|---|
| in € | Base remuneration |
Finance and Audit Committee (F&A) |
and Remuneration Committee (PNR) |
Related Parties (TRP) (since 10 March 2020) |
remuneration total excl. waivers |
committee remuneration |
attendance fees |
Total remuneration |
| Dr. Eng. Masahiko Mori 1) | ||||||||
| Chairman of the Supervisory Board | ||||||||
| Chairman PNR | - | - | - | - | - | - | - | 0 |
| Ulrich Hocker 2) | ||||||||
| Deputy chairman SB | ||||||||
| Chairman TRP | 90,000 | 0 | 18,000 | 36,000 | 144,000 | 135,000 | 12,000 | 147,000 |
| Irene Bader 3) | - | - | - | - | - | - | - | 0 |
| Prof.Dr.-Ing. Berend Denkena 4) | 60,000 | 0 | 0 | 18,000 | 78,000 | 72,000 | 7,500 | 79,500 |
| Prof.Dr. Annette Köhler | ||||||||
| Chairwoman F&A | 60,000 | 36,000 | 0 | 0 | 96,000 | 90,000 | 15,000 | 105,000 |
| James Victor Nudo 5) | - | - | - | - | - | - | - | 0 |
| Mario Krainhöfner 6) 7) | ||||||||
| 1st Deputy chairman SB | 90,000 | 0 | 18,000 | 0 | 108,000 | 99,000 | 9,000 | 108,000 |
| Stefan Stetter 8) | ||||||||
| Deputy chairman SB | 90,000 | 18,000 | 0 | 18,000 | 126,000 | 117,000 | 18,000 | 135,000 |
| Tanja Fondel 6) 9) | 60,000 | 0 | 18,000 | 0 | 78,000 | 72,000 | 9,000 | 81,000 |
| Dietmar Jansen 6) 10) | 60,000 | 18,000 | 0 | 0 | 78,000 | 72,000 | 13,500 | 85,500 |
| Larissa Schikowski 11) | 60,000 | 0 | 18,000 | 0 | 78,000 | 72,000 | 9,000 | 81,000 |
| Michaela Schroll 6) 12) | 60,000 | 18,000 | 0 | 18,000 | 96,000 | 90,000 | 18,000 | 108,000 |
| Total amount | 630,000 | 90,000 | 72,000 | 90,000 | 882,000 | 819,000 | 111,000 | 930,000 13) |
1) Dr. Eng. Masahiko Mori is also a member of the F&A, Nomination and Mediation Committees. Dr. Eng. Masahiko Mori waives his Supervisory Board remuneration in full.
Thus, Dr. Eng. Masahiko Mori has not received any Supervisory Board remuneration for 2021. 2) Ulrich Hocker is also a member of the PNR as well as of the Nomination and the
Mediation Committee. 3) Irene Bader waives her Supervisory Board remuneration in full.
Thus, Irene Bader has not received any Supervisory Board remuneration for 2021.
4) Prof. Dr.-Ing. Berend Denkena is a member of the TRP.
5) James Victor Nudo is a member of the F&A, PNR and Nomination Committee. James Victor Nudo waives his Supervisory Board remuneration in full. Thus, James Victor Nudo has not received any Supervisory Board remuneration for 2021. 6) These employees' representatives transfer the majority of their remuneration for
Supervisory Board duties to the Hans-Böckler-Stiftung, Düsseldorf, Germany.
7) Mario Krainhöfner is a member of the PNR and Mediation Committees.
8) Stefan Stetter is a member of the F&A and TRP Committees. 9) Tanja Fondel is a member of the PNR and the Mediation Committee.
10) Dietmar Jansen is a member of the F&A.
11) Larissa Schikowski is a member of the PNR and transfers part of her
Supervisory Board remuneration to various charitable institutions. 12) Michaela Schroll is a member of the F&A and TRP Committees.
13) The total amount corresponds to the expenses of DMG MORI AKTIENGESELLSCHAFT for 2021.
As the remuneration of the members of the Supervisory Board is not composed of variable but exclusively of fixed components, it is not necessary to determine a maximum total remuneration for the members of the Supervisory Board.
In the reporting year, no loans and advances were granted to members of the Supervisory Board of DMG MORI AKTIENGESELLSCHAFT.
The following table shows a comparison of the percentage change in the remuneration of the Supervisory Board members with the earnings development (EAT) of DMG MORI AKTIENGESELLSCHAFT and the average remuneration of the employees on a full-time basis compared to the previous year.
The remuneration of the Supervisory Board members shown in the table reflects the actual amounts paid for the respective financial year. For financial year 2021, these amounts correspond to the amounts stated in the table "Remuneration granted and payable to the Supervisory Board".
| A.06 COMPARISON OF ANNUAL CHANGE IN SUPERVISORY BOARD REMUNERATION |
CHANGES 2021 AGAINST 2020 in % |
|---|---|
| Dr. Eng. Masahiko Mori 1) | – |
| Ulrich Hocker | +8.5 % |
| Irene Bader 2) | – |
| Prof.Dr.-Ing. Berend Denkena | +4.4 % |
| Prof.Dr. Annette Köhler | +3.6 % |
| James Victor Nudo 3) | – |
| Mario Krainhöfner | +1.7 % |
| Stefan Stetter | +5.2 % |
| Tanja Fondel | +2.3 % |
| Dietmar Jansen | +0.4 % |
| Larissa Schikowski | +2.3 % |
| Michaela Schroll | +6.6 % |
| EAT (DMG MORI AG group) 4) | +64 % |
| EAT (DMG MORI AKTIENGESELLSCHAFT) 5) | +8 % |
| Average employee remuneration 6) | +2 % |
1) Dr. Eng. Masahiko Mori has not received any Supervisory Board remuneration for 2021.
2) Irene Bader has not received any Supervisory Board remuneration for 2021. 3) James Victor Nudo has not received any Supervisory Board remuneration for 2021.
4) 2021: € 85.6 million / 2020: € 52.1 million
5) 2021: € 29.3 million (under HGB)/ 2020: € 27.1 million (under HGB) 6) Employee remuneration in Germany in the respective financial year
The remuneration system for the Executive Board is determined by the Supervisory Board. The Personnel, Nomination and Remuneration Committee develops recommendations for the Executive Board remuneration system, which the Supervisory Board also discusses and decides on in detail.
The Personnel, Nomination and Remuneration Committee regularly reviews the Executive Board's remuneration system and presents relevant proposals to the Supervisory Board. The remuneration system is resubmitted to the Annual General Meeting for approval after significant changes and in any case every four years.
The remuneration system for the Executive Board of DMG MORI AKTIENGESELLSCHAFT is geared to promoting the business strategy and the sustainable and long-term development of the company. This is achieved in compliance with the statutory requirements and in consideration of competitive aspects. The remuneration system was prepared by the Supervisory Board by resolution of 28 November 2019 on the legal basis of the Implementation of the Shareholders' Rights Directive (ARUG II) and approved by the 118th Annual General Meeting on 15 May 2020.
The system's fundamental structure abides by the following guiding principles:
This forms the basis on which Executive Board members are offered a competitive and market value remuneration package that keeps within the regulatory requirements and promotes the sustainable work of the Executive Board. This is intended to secure the best possible candidates for the Executive Board of DMG MORI AKTIENGESELLSCHAFT, both now and in the future.
The remuneration system adopted by the Supervisory Board conforms with the current requirements under the German Stock Corporation Act and in all essential aspects with the recommendations made in the German Corporate Governance Code (DCGK), with the exception that the long-term remuneration component is not share-based. In consideration of the existing domination and profit transfer agreement between DMG MORI AKTIENGESELLSCHAFT and DMG MORI GmbH, a 100 % subsidiary of DMG MORI COMPANY LIMITED, on the one hand and the limited free float of the stock on the other hand, it was decided that a remuneration component that is paid in shares or a sharebased remuneration component will not be implemented.
Following preparation by the Personnel, Nomination and Remuneration Committee, the Supervisory Board determines the amount of the total target remuneration for the upcoming financial year for each Executive Board member based on the remuneration system. The total target remuneration for each Executive Board member is the sum of base remuneration, the STI for 100 % target achievement, the LTI for 100 % target achievement and the pension contribution.
In addition to being reasonably proportionate to the duties and performances of the Executive Board members, this in particular gives consideration to the economic position, the market environment, the success and the future prospects of the company. The Supervisory Board pays particular attention to assuring that the total target remuneration conforms with market standards. Market conformity is assessed on the basis of the following points:
External benchmarking (horizontal conformity): The market conformity of the total remuneration is assessed on the basis of remuneration data from the 90 largest companies in Germany with DAX and MDAX listings. This horizontal market benchmarking considers the market position, size and complexity of DMG MORI AKTIENGESELLSCHAFT with special emphasis on the position of the company within the comparison group (e. g., on the basis of performance indicators such as sales revenues, number of employees and earnings per share).
Internal benchmarking (vertical conformity): In addition to the above, the development of the Executive Board's remuneration in proportion to the remuneration of the employees of DMG MORI AKTIENGESELLSCHAFT is considered in an internal (vertical) benchmarking. This comparison determines the proportion of the Executive Board's remuneration to the remuneration paid to the upper management and other employees and subjected to a market comparison.
The determination of the total target remuneration gives special credit to the individual Executive Board member's function. This includes that the chairperson of the Executive Board is awarded a higher total remuneration than the other Executive Board members.
The Supervisory Board may withhold or demand repayment of the short-term and the long-term variable remuneration in the case of serious breaches of duty or compliance infringements. The same applies in cases of serious unethical conduct.
In cases of grossly negligent or intentional breaches of a duty of care by a diligent business manager pursuant to Section 93 (1) of the German Stock Corporation Code (AktG) the company is further authorized to demand the Executive Board member repay all or part of the variable remuneration components (STI and/or LTI) paid for the relevant assessment period in which the breach of duty took place, or to withhold such payment before its remittance.
A claim for repayment also applies if the Executive Board member's office tenure or employment has already ended at the time repayment is demanded. Claims for damages against the Executive Board member remain unaffected.
If an Executive Board member resigns upon request by the Supervisory Board due to reasons not attributable to the Executive Board member's person or conduct, all outstanding LTI tranches will be paid to the member at the end of the initially agreed performance period. The same applies if an Executive Board member resigns from the Executive Board for other reasons outside of his responsibility (e. g. regular expiry or mutually agreed termination of the employment contract, or other contractually recognized reasons for resignation). This also includes the transition into early retirement and the Executive Board member's rejection of an offer of reappointment.
If the company terminates an Executive Board member's employment for important reasons, or if the Executive Board member terminates his service agreement without proper cause ("bad leaver"), all outstanding LTI allocations of which the three-year reference period has not yet ended will be forfeited.
The remuneration of the Executive Board members of DMG MORI AKTIENGESELLSCHAFT consists of fixed and variable remuneration components. The fixed, non-performancebased remuneration consists of a base remuneration ("fixed amount"), fringe benefits and pension entitlements (in particular to the contribution-based retirement provisions). The short-term variable remuneration (STI) and the long-term variable remuneration (LTI) are performance-based variable amounts that depend on the achievement of concrete, measurable targets.
The fixed remuneration forms the basis for recruiting and retaining the highly qualified Executive Board members needed for the group's further development and implementation of the corporate strategy.
The fixed remuneration consists of the base remuneration, fringe benefits and pension entitlements (contribution-based retirement provisions).
Base remuneration: Each Executive Board member receives a fixed base remuneration. This is paid in 12 monthly installments.
Fringe benefits: Fringe benefits and their maximum amounts are determined for each Executive Board member. These fringe benefits include, in particular, non-cash benefits from the company and other fringe benefits, particularly the provision of a company car but also insurance coverage.
Retirement provisions: Each Executive Board member is granted a payment that must be used to add to his personal retirement provisions. The payment is for a certain amount to be invested in an external pension scheme (contributionbased retirement provision).
The STI is intended to motivate Executive Board members to achieve challenging and demanding financial, operational and strategic targets in the financial year. The targets reflect the corporate strategy and aim at increasing the earnings and market position of DMG MORI AKTIENGESELLSCHAFT. The one-year variable compensation is linked to the achievement of important key figures in the respective financial year, and in particular by tying it to the order intake and EBIT. An individual target amount is defined for each member of the Executive Board. The target amount is the starting point for determining the performance-related payment after the end of the assessment period. An entitlement to payment only arises at the end of the one-year assessment period and depends on whether or how the targets have been achieved.
The STI system is based on two target dimensions with different weightings that can be adjusted by so-called sustainability factors ("modifiers"). This considers both the market position (measured by the performance indicator "order intake"), as well as the earnings position (measured by the performance indicator "EBIT"). These company-specific targets are modified by a sustainability factor ("modifier"), which moves within a bandwidth from 80 % to 120 %. The sustainability factors are intended to reward the Executive Board's actions and successes that have made a contribution to sustainably securing the company's success.
The levels of target achievement for the STI 2021 result from the following key figures and factors for 2021 and are determined for all Executive Board members according to the same criteria:
Order intake is weighted 1/3. In this way, the STI considers one of the key financial figures of DMG MORI AKTIEN-GESELLSCHAFT. The order intake component of the STI must reach a lower limit before it becomes bonus relevant. The lower limit is set at a target achievement of 50%. Reaching the target amount corresponds to a target achievement of 100%. The component does not increase further once a certain upper limit has been reached. This upper limit corresponds to a target achievement of 200 %.
The following figure shows further details with respect to target achievement:
The EBIT is weighted 2/3. In this way, the STI considers an additional key financial figure of DMG MORI AKTIENGESELL-SCHAFT. The EBIT component of the STI must reach a lower limit before becoming bonus relevant. This lower limit corresponds to a target achievement of 50 %. Reaching the target amount corresponds to a target achievement of 100 %. The component does not increase further once a certain upper limit has been reached. This upper limit corresponds to a target achievement of 200 %.
The following figure shows further details with respect to target achievement:
The remuneration resulting from the achievement of targets is adjusted (80 %-120 %) through two sustainability factors ("modifiers"), which are specified within the framework of the tender. These targets forming the basis of the sustainability factor include, for example, investments in property, plant and equipment as well as the development of internal market shares and positions (ratio of order intake DMG MORI AG group and DMG MORI COMPANY LIMITED). Both sustainability factors can reach a level of 80%–120% and are weighted 50% each. This is in particular intended to boost the Executive Board's efforts aimed at a sustainable management that delivers future growth.
The long-term-focused, sustainable initiative for the success of DMG MORI AKTIENGESELLSCHAFT is the focus of the Executive Board's work. It is the only way to promote sustainable growth and achieve a permanent increase in value. The three-year performance period contributes to assuring that the Executive Board's decisions in the current financial year are also focused on the company's long-term development.
The LTI program is paid in cash on the basis of performance indicator-based remuneration determined over an assessment period of three years ("performance period"). It is granted in the form of yearly tranches.
The LTI is based on two financial targets as well as measurable sustainability targets that are expressed in the form of a "modifier". The financial performance criteria represent important core management ratios of DMG MORI AKTIEN-GESELLSCHAFT (the earnings after tax – EAT – and the service performance). In addition to that, the modifier with a bandwidth of 80 % to 120 % also incorporates the sustainability targets.
An individual target amount it set for each member of the Executive Board. The target amount represents the starting point for determining the performance-based payment after the end of the assessment period. A claim for payment only arises at the end of the three-year assessment period and depends on whether and to what degree the targets were achieved.
The levels of target achievement result from the following key figures and factors and are determined for all Executive Board members according to the same criteria:
The EAT is weighted 2/3. In this way, the LTI considers one of the key financial figures of DMG MORI AKTIENGESELL-SCHAFT. The EAT component of the LTI must reach a lower limit in order to become bonus relevant. This corresponds to a target achievement of 50 %. Reaching the target amount results in a target achievement of 100 %. The component does not increase further once an upper limit has been reached. This corresponds to a target achievement of 200 %.
The following figure shows further details with respect to target achievement:
The service performance over a period of three years is weighted 1/3. In this way, the LTI considers an important key management figure of DMG MORI AKTIENGESELLSCHAFT. The service performance is the average number of service calls per machine under warranty over the last 12 months. The service performance component of the LTI must fall below a threshold value before becoming bonus relevant. This threshold value corresponds to a target achievement of 80 %. Reaching the target figure corresponds to a target achievement of 100 %. It does not increase further after reaching the minimum value. This minimum value corresponds to a target achievement of 200 %.
The following figure shows further details with respect to target achievement:
The remuneration resulting from the degree of target achievement is adjusted (80 % – 120 %) by two sustainability factors ("modifiers"), which are specified within the framework of the tender. The current sustainability targets include adherence to the R&D and marketing budgets, as well as the development of the PPR indicator (number of "Product Problem Reports" in the last twelve months with status completed and final adjusted divided by the number of "Product Problem Reports" issued in the last twelve months). A "product problem report" describes a customer complaint. Both sustainability factors can reach a level of 80 % – 120 % and are weighted 50 % each. To secure the long-term and sustainable development, the targets are selected in consideration of the strategy.
The payment from STI and LTI is limited in each case to a total of 200 % of the target amount.
The maximum total remuneration of an Executive Board member is determined by the Supervisory Board on the basis of the target total remuneration and is the maximum amount of total remuneration for the respective financial year, taking into account the fixed remuneration, short-term variable remuneration (STI), long-term variable remuneration (LTI 2021 – 2023), and retirement provisions.
The maximum total remuneration for financial year 2021 was set at € 4,800 K for the Chairman of the Executive Board and € 2,400 K for the Executive Board members. (→ Table A.07)
The retirement provisions are a further basis for recruiting and retaining the highly qualified Executive Board members required for the group's continued development and implementation of the corporate strategy. The retirement provisions should be competitive on the market for highly qualified Executive Board members and provide an appropriate level of retirement benefits. The retirement provisions for the Executive Board members are paid in the form of a contributionbased pension scheme:
| A.07 I TARGET AND MAXIMUM REMUNERATION | Christian Thönes | Björn Biermann | Michael Horn | ||||
|---|---|---|---|---|---|---|---|
| (REMUNERATION COMPONENTS 2021) | 2021 (Target) | 2021 (MAX) | 2021 (Target) | 2021 (MAX) | 2021 (Target) | 2021 (MAX) | |
| Base remuneration 1) | € 1,200,000 | € 1,200,000 | € 600,000 | € 600,000 | € 600,000 | € 600,000 | |
| STI | € 800,000 | € 1,600,000 | € 400,000 | € 800,000 | € 400,000 | € 800,000 | |
| LTI 2021– 2023 | € 1,150,000 | € 2,300,000 | € 612,500 | € 1,225,000 | € 612,500 | € 1,225,000 | |
| Pension | € 450,000 | € 450,000 | € 200,000 | € 200,000 | € 200,000 | € 200,000 | |
| Total remuneration | € 3,600,000 | € 4,800,000 | € 1,812,500 | € 2,400,000 | € 1,812,500 | € 2,400,000 |
1) Fixed remuneration incl. waiver: Christian Thönes € 1,080K; Björn Biermann € 540K; Michael Horn € 540K
Expenses for the contribution-based retirement provisions for the Executive Board members totaled € 850 K in financial year 2021 (previous year: € 800 K).
The former Executive Board member Dr. Maurice Eschweiler was paid € 60 K from the 2019 – 2021 LTI tranche for the reporting year (prorated amount until expiry of his Executive Board appointment on 31 March 2019). Under direct pension obligations, € 1,132 K was paid to former Executive Board members and their surviving dependants, of this € 680 K was attributable to Dr. Rüdiger Kapitza, who left the Executive Board in 2016.
In accordance with §162 (1) sentence 2 no. 1 AktG, the following is a report on compensation in the financial year in which the activity underlying the compensation was performed in full. This applies to base remuneration as well as STI and LTI.
All members of the Executive Board again waived 10 % of their base remuneration in the reporting year. In total, the Executive Board waived payments in the amount of € 240 K for financial year 2021, which – together with the waiver of the Supervisory Board members – were paid into the DMG MORI relief fund for employees particularly affected by the corona pandemic.
The target achievement for short-term variable remuneration is 200 % for the key figure EBIT, and 200 % for the key figure order intake. The target achievement for the sustainability factor relating to the budget for investments in property, plant and equipment was 118.4%, and for the relative market shares AG/CO 120.0%, resulting in a weighted modifier of 119.2% overall. The STI payment is limited to a total of 200 % of the target amount (cap).
The LTI tranche 2019 – 2021 as a long-term remuneration component considers the repayment contribution of DMG MORI AKTIENGESELLSCHAFT based on a three-year assessment period. The repayment contribution is the sum of the profit transfer and settlement of tax obligations as well as any loan amounts to DMG MORI COMPANY LIMITED. There is an upper limit (cap) for this LTI tranche at 120% of the award amount for each Executive Board member. In 2019 – 2021 a minimum value (80%) of an average of € 130 million redemption contribution must be achieved for a payout – in no year may the repayment contribution fall below € 60 million. The target value (100 %) corresponds to a repayment amount of € 150 million and the maximum value (120 %) to a repayment amount of € 170 million. In the assessment period, the average repayment amount was € 421.7 million. In no year was the repayment amount less than € 60 million. This corresponds to the maximum target achievement (120 %).
The total remuneration without advance payments of the Executive Board for financial year 2021 amounted to € 7,118 K (previous year: € 4,912 K). Of this amount, € 2,228 K (previous year: € 2,126 K) is attributable to the fixed, non-performancebased remuneration (base remuneration and fringe benefits), and € 3,200 K (previous year: € 1,236 K) to the short-term variable remuneration (STI) as well as € 850 K to contributionbased retirement provisions (previous year: € 800 K).
The LTI tranche 2019–2021, which was allocated on 31 December 2021 and will be paid in 2022, results in a total amount of € 840K (LTI 2018 – 2020: € 750K).
For the LTI tranche 2020–2022, a recoverable advance payment of € 1,508K was made in 2021, which is part of the remuneration in accordance with section 162 (1) sentence 1 AktG.
No loans were granted to members of the Executive Board of DMG MORI AKTIENGESELSCHAFT in the reporting year.
The companies belonging to DMG MORI AKTIENGESELL-SCHAFT group did not pay any remuneration directly to members of the Executive Board for services provided personally, in particular consulting and mediation services.
No Executive Board members were requested to repay any remuneration components. Malus and clawback provisions were not invoked.
Table A.09 shows the granted and payable remuneration components of the active Executive Board members in the respective financial year, including the corresponding relative share pursuant to Section 162 (1) sentence 1 of the German Stock Corporation Act (AktG). The figures represent the base remuneration, the fringe benefits and the retirement provisions paid in the financial year. The table shows the STI as well as the LTI tranche 2019–2021 that will be paid in financial year 2022 for underlying activities that were fully performed by the end of financial year 2021. The recoverable advance payment for the LTI tranche 2021 – 2023 is also shown.
The Executive Board's voluntary waivers for the financial years 2020 and 2021 have been considered accordingly.
Table A.08 shows a comparison of the percentage change in the remuneration of the Executive Board members with the development of earnings of DMG MORI AKTIENGESELL-SCHAFT and the average remuneration of the employees on a full-time equivalent basis compared to the previous year. The figures for the reporting year correspond to the figures for the total remuneration specified in the table "Remuneration granted and payable, including waivers" pursuant to § 162 (1) sentence 1 German Stock Corporation Act. The development of earnings is generally presented on the basis of the development of the key figure EAT.
| A.08 COMPARISON OF ANNUAL CHANGE IN EXECUTIVE BOARD'S REMUNERATION (SECTION 162 (1) NO. 2 AKTG) |
CHANGES 2021 AGAINST 2020 in % |
|---|---|
| Christian Thönes | +47.7 % |
| Björn Biermann | +35.4 % |
| Michael Horn | +49.8 % |
| EAT (DMG MORI AG group) 1) | +64 % |
| EAT (DMG MORI AKTIENGESELLSCHAFT) 2) | +8 % |
| Average employee remuneration 3) | +2 % |
| 1) 2021: € 85.6 million / 2020: € 52.1 million |
2) 2021: € 29.3 million (under HGB)/ 2020: € 27.1 million (under HGB) 3) Employee remuneration in Germany in the respective financial year
| Christian Thönes Chief Executive Officer |
Björn Biermann Executive Board member |
|||||||
|---|---|---|---|---|---|---|---|---|
| 2020 | 2020 3) | 2021 | 2021 3) | 2020 | 2020 3) | 2021 | 2021 3) | |
| Base remuneration | 930 | 1,080 | 555 | 540 | ||||
| Perquisite | 12 | 11 | 17 | 8 | ||||
| Total | 942 | 40 % | 1,091 | 31 % | 572 | 43 % | 548 | 31 % |
| STI | 618 | 26 % | 1,600 | 46 % | 309 | 24 % | 800 | 45 % |
| LTI 2018 – 2020 | 360 | 15 % | - | - | 240 | 18 % | - | - |
| LTI 2019 – 2021 | - | - | 360 | 10 % | - | - | 240 | 13 % |
| Total | 978 | 41 % | 1,960 | 56 % | 549 | 42 % | 1,040 | 58 % |
| Pension1) | 450 | 19 % | 450 | 13 % | 200 | 15 % | 200 | 11 % |
| Total remuneration without advance payment | 2,370 | 100 % | 3,501 | 100 % | 1,321 | 100 % | 1,788 | 100 % |
| Recoverable advance payment LTI 2020 – 2022 2) | - | - | 650 | - | - | - | 429 | - |
| Total inflow with advance payment | 2,370 | - | 4,151 | - | 1,321 | - | 2,217 | - |
| Michael Horn | ||||||||
|---|---|---|---|---|---|---|---|---|
| Executive Board member | Executive Board total | |||||||
| 2020 | 2020 3) | 2021 | 2021 3) | 2020 | 2020 3) | 2021 | 2021 3) | |
| Base remuneration | 555 | 540 | 2,040 | 2,160 | ||||
| Perquisite | 57 | 49 | 86 | 68 | ||||
| Total | 612 | 50 % | 589 | 32 % | 2,126 | 43 % | 2,228 | 31 % |
| STI | 309 | 26 % | 800 | 44 % | 1,236 | 24 % | 3,200 | 45 % |
| LTI 2018 – 2020 | 150 | 12 % | - | - | 750 | 19 % | - | - |
| LTI 2019 – 2021 | - | - | 240 | 13 % | - | - | 840 | 12 % |
| Total | 459 | 38 % | 1,040 | 57 % | 1,986 | 41 % | 4,040 | 57 % |
| Pension1) | 150 | 12 % | 200 | 11 % | 800 | 16 % | 850 | 12 % |
| Total remuneration without advance payment | 1,221 | 100 % | 1,829 | 100 % | 4,912 | 100 % | 7,118 | 100 % |
| Recoverable advance payment LTI 2020 – 2022 2) | - | - | 429 | - | - | - | 1,508 | - |
| Total inflow with advance payment | 1,221 | - | 2,258 | - | 4,912 | - | 8,626 | - |
1) Payments for pension provisions as defined contribution 2) Contribution made in 2021
3) The specified relative proportions refer to the remuneration components "granted and payable" in the respective financial year pursuant to Section 162 (1) sentence 1 German Stock Corporation Act.
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