31. Earnings per share

Basic earnings per share, unchanged from 2014 at €0.35, are calculated by dividing the net profit attributable to Snam (€1,238 million; €1,198 million in 2014) by the weighted average number of Snam shares outstanding during the year, excluding treasury shares (3,499,511,044 shares; 3,384,657,230 shares in 2014).

Diluted earnings per share are calculated 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 most recent stock option plan, the 2006-2008 Plan, matured on 29 July 2014; as such, basic and diluted earnings per share are the same.