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Note 10. Earnings per share
Basic earnings per share are calculated by dividing the net profit for the period attributable to the parent’s equity holders by the weighted average number of shares outstanding during the period. Diluted earnings per share are calculated by adjusting the weighted average number of all shares to assume conversion of all potentially dilutive shares. Until 30 April 2014, the Group operated a share option scheme with a dilutive effect, which increased the number of shares. The share options had a dilutive effect when their exercise price was lower than the fair value of a share. The dilutive effect was the number of shares which had to be issued without consideration, because the Group could not use the assets received from the exercise of the share options to issue an equal number of shares at fair value. The fair value of a share was based on the average share price during the period.
2015 2014
Profit for the period attributable to equity holders of the parent, € million 101.6 96.0
Number of shares
Weighted average number of shares outstanding 99,113,741 99,054,293
Effect of options issued - 106,375
Diluted weighted average number of shares outstanding 99,113,741 99,160,668
Earnings per share from profit attributable to equity holders of the parent
Basic, € 1.03 0.97
Diluted, € 1.03 0.97