Notes to the consolidated financial statements

Earnings per share

Earnings per share

Basic earnings per share

 Basic earnings per share are calculated by dividing the net consolidated income for the year attributable to the Group by the weighted average number of outstanding shares for the year, excluding the average number of treasury shares held during the year. Set out below is the calculation of basic earnings per share from continuing operations and from continuing and discontinued operations:

Basic earnings per share from continuing operations:

 Basic earnings per share from continuing operations

Basic earnings per share from discontinued operations:

 Basic earnings per share from discontinued operations

Basic earnings per shares attributed to the parent company:

 Basic earnings per shares attributed to the parent company

Diluted earnings per share

Diluted earnings per share are calculated by adjusting the weighted average number of outstanding ordinary shares to reflect the conversion of all potentially dilutive ordinary shares. For such purposes, conversion is deemed to take place at the start of the period or when the potentially dilutive ordinary shares are issued, where they have become outstanding during the period in question.

At 31 December 2007 and 2006, the Group has no potentially dilutive ordinary shares, since no convertible shares have been issued and the share-based or stock option remuneration plans addressed in Notes 33 and 34, respectively, will not entail any capital increase for the Group, as explained in those notes. Consequently, no dilutive impact is envisaged when employee rights under the plans are exercised.