25 Earnings per share

Basic earnings per share, equal to €0.15 per share (€0.17 in the first semester of 2015), are calculated by dividing the net profit attributable to Snam (€526 million; €612 million in the first semester of 2015) by the weighted average number of Snam outstanding shares during the year, excluding treasury shares (3,499,511,044 shares; unchanged compared with 30 June 2015).