Note 9: Earnings per share

Profit for the period attributable to the shareholders of the company was €539 million. In 2018, net profit for the period was €6,674 million, of which €6,264 million was attributable to discontinued operations and related to the divested Specialty Chemicals business.

The number of shares for the calculation decreased as a result of the capital repayment and share consolidation and the share buyback program.

Profit for the period

In € millions

2018

2019

Profit before tax from continuing operations

573

785

Income tax

(118)

(230)

Profit from continuing operations

455

555

Profit for the period attributable to non-controlling interests

(45)

(38)

Profit for the period from continuing operations attributable to shareholders of the company

410

517

Profit for the period from discontinued operations

6,274

22

Discontinued operations attributable to non-controlling interest

(10)

Profit for the period attributable to shareholders of the company

6,674

539

Weighted average number of common shares

Number of shares

2018

2019

Issued common shares at January 1

252,620,585

256,219,301

Effect of issued common shares during theyear

2,252,713

249,936

Capital repayment and share consolidation

(26,674,886)

Effect of share repurchase program

(16,720,349)

Shares for basic earnings per share for the year

254,873,298

213,074,002

 

 

 

Effect of dilutive shares

 

 

For performance-related and restricted shares

1,087,173

763,868

For share-matching plan

9,813

5,719

Shares for diluted earnings per share

255,970,284

213,843,589

Earnings per share from continuing operations increased in 2019, mainly due to the impact of the share consolidation, the share buyback program and increased profit before tax from continuing operations. Earnings per share from total operations decreased in 2019, due to the result from discontinued operations in 2018, related to the divested Specialty Chemicals business partially offset by the impact of the share consolidation, the share buyback program and increased profit before tax from continuing operations.

from continuing operations increased in 2019, mainly due to the impact of the share consolidation, the share buyback program and increased profit before tax from continuing operations.

Earnings per share

in €

2018

2019

Con­tinuing oper­ations

 

 

Basic

1.61

2.43

Diluted

1.60

2.42

Discon­tinued oper­ations

 

 

Basic

24.58

0.10

Diluted

24.47

0.10

Total oper­ations

 

 

Basic

26.19

2.53

Diluted

26.07

2.52

Adjusted earnings per share from continuing operations

In € millions

2018

2019

Profit before tax from continuing operations

573

785

Identified items reported in operating income

193

150

Interest on tax settlement

(30)

Adjusted income tax

(204)

(237)

Non-controlling interests

(45)

(38)

Adjusted profit from continuing operations attributable to shareholders of the company

487

660

Adjusted earnings per share from continuing operations (in €)

1.91

3.10

Earnings per share

Net income attributable to shareholders divided by the weighted average number of common shares outstanding during the year.

Adjusted earnings per share

Adjusted earnings per share are the basic earnings per share from operations, excluding identified items and taxes thereon.