Note 10: Earnings per share
Profit for the period attributable to the shareholders of the company was €630 million (in 2019: €539 million).
The number of shares for the earnings per share calculation decreased as a result of the capital repayment and share consolidation executed in 2019 and the share buyback programs of 2019 and 2020.
In € millions |
2019 |
2020 |
|---|---|---|
Profit before tax from continuing operations |
785 |
919 |
Income tax |
(230) |
(241) |
Profit from continuing operations |
555 |
678 |
Profit for the period attributable to non-controlling interests |
(38) |
(41) |
Profit for the period from continuing operations attributable to shareholders of the company |
517 |
637 |
Profit for the period from discontinued operations attributable to shareholders of the company |
22 |
(7) |
Profit for the period attributable to shareholders of the company |
539 |
630 |
Number of shares |
2019 |
2020 |
|---|---|---|
Issued common shares at January 1 |
256,219,301 |
199,600,331 |
Effect of issued common shares during the year |
249,936 |
264,818 |
Capital repayment and share consolidation |
(26,674,886) |
— |
Effect of share buyback program |
(16,720,349) |
(8,440,749) |
Shares for basic earnings per share for the year |
213,074,002 |
191,424,400 |
|
|
|
Effect of dilutive shares |
|
|
For performance-related and restricted shares |
763,868 |
674,365 |
For share-matching plan |
5,719 |
3,039 |
Shares for diluted earnings per share |
213,843,589 |
192,101,804 |
in € |
2019 |
2020 |
|---|---|---|
Continuing operations |
|
|
Basic |
2.43 |
3.33 |
Diluted |
2.42 |
3.32 |
Discontinued operations |
|
|
Basic |
0.10 |
(0.04) |
Diluted |
0.10 |
(0.04) |
Total operations |
|
|
Basic |
2.53 |
3.29 |
Diluted |
2.52 |
3.28 |
Earnings per share (and adjusted earnings per share) from continuing operations increased in 2020, mainly due to the increased profit before tax from continuing operations and the impact of the share buyback program.
In € millions |
2019 |
2020 |
|---|---|---|
Profit before tax from continuing operations |
785 |
919 |
Identified items reported in operating income |
150 |
136 |
Interest on tax settlement |
— |
(3) |
Adjusted income tax |
(237) |
(269) |
Non-controlling interests |
(38) |
(41) |
Adjusted profit from continuing operations attributable to shareholders of the company |
660 |
742 |
Adjusted earnings per share from continuing operations (in €) |
3.10 |
3.88 |
Net income attributable to shareholders divided by the weighted average number of common shares outstanding during the year. Adjusted earnings per share are the basic earnings per share, excluding identified items and taxes thereon.