36 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 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 for stock option plans. Based on the plans existing as at 31 December 2013, the dilutive effect is in connection with the 2008 year allocations.
The weighted average number of outstanding shares used to calculate diluted earnings per share is 3,378,702,020 and 3,379,543,289 for 2012 and 2013, 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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2012 |
2013 |
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Weighted average number of outstanding shares used to calculate basic earnings |
3,378,676,996 |
3,379,465,365 |
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Number of potential shares for stock option plans |
25,024 |
77,924 |
|
Weighted average number of outstanding shares used to calculate diluted earnings |
3,378,702,020 |
3,379,543,289 |
|
Net profit attributable to Snam (€ million) |
779 |
917 |
|
Basic earnings per share (€ per share) |
0.23 |
0.27 |
|
Diluted earnings per share (€ per share) |
0.23 |
0.27 |