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.
| 2020 | 2019 | ||
| Profit (loss) for the year attributable to owners of the Parent (in millions of euros) | (660) | (15) | |
| Number of shares making up the share capital at 31 December | 131,133,286 | 131,133,286 | |
| Treasury shares | (1,590,628) | (2,276,966) | |
| Number of shares outstanding at 31 December | 129,542,658 | 128,856,320 | |
| Average number of shares outstanding during the year | 129,199,489 | 129,364,564 | |
| Basic earnings (loss) per share – Attributable to owners of the Parent(in euros) | (5.11) | (0.12) | |
| Dilutive share options and free shares: | |||
| Share options | - | - | |
| Free shares | 1,159,960 | 1,593,549 | |
| Average number of shares including dilutive share options and free shares | 130,359,449 | 131,015,125 | |
| Diluted earnings (loss) per share – Attributable to owners of the Parent(in euros) | (5.11) | (0.12) | |
| Profit (loss) from continuing operations – Attributable to owners of the Parent(in millions of euros) | (638) | 191 | |
| Basic earnings (loss) per share from continuing operations – Attributable to owners of the Parent (in euros) | (4.94) | 1.47 | |
| Diluted earnings (loss) per share from continuing operations – Attributable to owners of the Parent (in euros) | (4.94) | 1.46 | |
| Profit (loss) from discontinued operations – Attributable to owners of the Parent (in millions of euros) | (22) | (206) | |
| Basic earnings (loss) per share from discontinued operations – Attributable to owners of the Parent (in euros) | (0.17) | (1.59) | |
| Diluted earnings (loss) per share from discontinued operations – Attributable to owners of the Parent (in euros) | (0.17) | (1.57) | |