25 Earnings per share

Basic earnings per share are determined by dividing net profit by the weighted average number of outstanding Snam shares during the year, excluding treasury shares.

Diluted earnings per share are determined by dividing net profit by the weighted average number of shares in issue during the period, excluding treasury shares, plus the number of shares that might be added to those in issue. At 30 June 2015, there were no potential shares in issue with a dilutive effect, and therefore basic earnings per share were equal to diluted earnings per share (as was the case at 30 June 2014).