Note 10: Earnings per share

Profit for the period attributable to the shareholders of the company was €829 million (in 2020: €630 million).

Profit for the period

In € millions

2020

2021

Profit before tax from continuing operations

919

1,105

Income tax

(241)

(246)

Profit from continuing operations

678

859

Profit for the period attributable to non-controlling interests

(41)

(36)

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

637

823

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

(7)

6

Profit for the period attributable to shareholders of the company

630

829

The number of shares for the calculation decreased as a result of the share buyback programs of 2020 and 2021.

Weighted average number of common shares

Number of shares

2020

2021

Issued common shares at January 1

199,600,331

190,579,841

Effect of issued common shares during the year

264,818

225,806

Effect of share buyback program

(8,440,749)

(5,845,781)

Shares for basic earnings per share for the year

191,424,400

184,959,866

 

 

 

Effect of dilutive shares

 

 

For performance-related and restricted shares

674,365

714,114

For share-matching plan

3,039

Shares for diluted earnings per share

192,101,804

185,673,980

Earnings per share (and adjusted earnings per share) increased in 2021, mainly due to the increased profit before tax from continuing operations and the impact of the share buyback programs.

Earnings per share

in €

2020

2021

Continuing operations

 

 

Basic

3.33

4.45

Diluted

3.32

4.43

Discontinued operations

 

 

Basic

(0.04)

0.03

Diluted

(0.04)

0.03

Total operations

 

 

Basic

3.29

4.48

Diluted

3.28

4.46

Adjusted earnings per share from continuing operations

In € millions

2020

2021

Profit before tax from continuing operations

919

1,105

Identified items reported in operating income

136

(26)

Interest on tax settlement

(3)

(29)

Adjusted income tax

(269)

(261)

Non-controlling interests

(41)

(36)

Adjusted profit from continuing operations attributable to shareholders of the company

742

753

Adjusted earnings per share from continuing operations (in €)

3.88

4.07

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