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41. Earnings per share

41.2 Diluted earnings per share

41.2 Diluted earnings per share

2020

20191

From continuing operations

3.77

4.09

From discontinued operations

0

0.01

Diluted earnings per share

3.77

4.10

  • 1 Diluted earnings per share calculation has been changed in 2020 compared to 2019 in order to adjust for the effect of dilutive potential ordinary shares. As from 2020, diluted earnings per share is calculated by dividing the profit attributable to shareholders of the Company by the weighted average number of ordinary shares in issue during the year, excluding ordinary shares purchased by the Company and held as treasury shares, adjusted by the number of dilutive potential ordinary shares attached to the issuance of stock options, stock awards and performance shares. Comparative amounts for 2019 have been restated.

The number of dilutive potential ordinary shares is calculated based on the average number of stock options outstanding during the reporting period as the difference between the average market price of ordinary shares during the reporting period and the weighted average exercise price of the stock options and on the average number of stock awards and performance shares outstanding during the reporting period. Stock options only have a dilutive effect when the average market price is above the exercise price (stock options are “in the money”).

For the purpose of calculating dilutive earnings per share, there were no adjusting elements to the profit attributable to shareholders of the Company.