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 outstanding shares during the period, excluding treasury shares, increased by the number of shares which could potentially be issued following the allocation or disposal of treasury shares held under stock option plans.
The weighted average number of outstanding shares used to calculate diluted earnings per share is 3,378,055,326 and 3,378,702,020 for 2011 and 2012, respectively.
The reconciliation of the weighted average number of outstanding shares used to determine basic and diluted earnings per share is set out below:
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|
2011 |
2012 |
Weighted average number of outstanding shares |
3,378,041,501 |
3,378,676,996 |
Number of potential shares following stock option plans |
13,825 |
25,024 |
Weighted average number of outstanding shares |
3,378,055,326 |
3,378,702,020 |
Net profit attributable to Snam (€ million) |
790 |
779 |
Basic earnings per share (€ per share) |
0.23 |
0.23 |
Diluted earnings per share (€ per share) |
0.23 |
0.23 |