Note 15 - Earnings per share
Basic earnings per share
Earnings per share is calculated by dividing profit attributable to owners of the Parent by the weighted average number of ordinary shares outstanding during the year, excluding treasury shares. Changes in the number of shares as a result of employees exercising their share options (movements throughout the year) are included using the average of opening and closing balances for the year.
Diluted earnings per share
The only dilutive ordinary shares are free shares, when it is probable that they will vest at the vesting date set in the plan (specific case of performance shares). In view of the loss from continuing operations (Group share), there was no dilutive effect. The loss from discontinued operations (Group share) was however impacted by the dilutive effect.
| 2019 | 2018 (*) | ||
|---|---|---|---|
| Profit (loss) for the year attributable to owners of the Parent (in millions of euros) | (15) | 177 | |
| Number of shares making up the share capital at 31 December | 131 133 286 | 131 133 286 | |
| Treasury shares | (2 276 966) | (1 260 478) | |
| Number of shares outstanding at 31 December | 128 856 320 | 129 872 808 | |
| Average number of shares outstanding during the year | 129 364 564 | 129 715 438 | |
| Basic earnings (loss) per share – Attributable to owners of the Parent (in euros) | (0,12) | 1,36 | |
| Dilutive share options and free shares: | |||
| Share options | - | - | |
| Free shares | 1 593 549 | 1 650 561 | |
| Average number of shares including dilutive share options and free shares | 131 015 125 | 131 534 400 | |
| Diluted earnings (loss) per share – Attributable to owners of the Parent (in euros) | (0,12) | 1,34 | |
| Profit from continuing operations – Attributable to owners of the Parent (in millions of euros) | 191 | 173 | |
| Basic earnings per share from continuing operations – Attributable to owners of the Parent (in euros) | 1,47 | 1,33 | |
| Diluted earnings per share from continuing operations – Attributable to owners of the Parent (in euros) | 1,46 | 1,32 | |
| Profit (loss) from discontinued operations – Attributable to owners of the Parent (in millions of euros) | (206) | 5 | |
| Basic earnings (loss) per share from discontinued operations – Attributable to owners of the Parent (in euros) | (1,59) | 0,03 | |
| Diluted earnings (loss) per share from discontinued operations – Attributable to owners of the Parent (in euros) | (1,57) | 0,03 | |
(*) Data for 2018 restated for the full retrospective application of IFRS 16 (see note 1.1).