RUBIS - 2019 Universal Registration Document

8 FINANCIAL STATEMENTS - 2019 Consolidated financial statements and notes

5.11 EARNINGS PER SHARE

ACCOUNTING POLICES Basic earnings per share is calculated by dividing net income, Group share by the weighted average number of shares outstanding during the fiscal year. The weighted average number of shares outstanding is calculated based on any changes in share capital during the period, multiplied by a weighting factor depending on the time, and adjusted, where applicable, to take into account the Group’s treasury share holdings. Diluted net earnings per share is calculated by dividing net income, Group share by the weighted average number of ordinary shares outstanding, increased by the maximum amount of impact from the conversion of all dilutive instruments. In both cases, the shares included in the calculation of the weighted average number of shares outstanding during the fiscal year are those that provide unlimited entitlement to earnings.

The table below presents the income and shares used to calculate basic earnings and diluted earnings per share.

12/31/2019

Earnings per share (in thousands of euros)

12/31/2018 (1)

Consolidated net income from continuing operations, Group share Consolidated net income from operations held for sale, Group share

279,257 27,970

225,410 28,660

Impact of stock options on income

138

Consolidated net income after recognition of the impact of stock options on income

307,365

254,070

Number of shares at the beginning of the period

96,812,374

93,867,110

Company savings plan

88,010 312,329

71,433 997,397 12,456 789,397

Equity line

Preferential subscription rights

3,212

Dividend in shares Preferred shares

1,255,636

17,447

Free shares

1,079,011

1,046,261

Average number of stock options

5,764

Average number of shares (including stock options) DILUTED EARNINGS PER SHARE (in euros)

99,573,783

96,784,054

3.09 2.81 0.28 3.12 2.84 0.28

2.63 2.33 0.30 2.65 2.35 0.30

Of which continuing operations Of which assets held for sale

BASIC EARNINGS PER SHARE (in euros)

Of which continuing operations Of which assets held for sale

(1) The 2018 income statement was restated in accordance with IFRS 5 (see note 3.3).

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