25. Earnings per share

The calculation of basic and diluted earnings per share is based on the following data:

Excel

(€ in thousands)

2014

2013

Earnings

Net result attributed to equity holders

22,549

19,539

Adjusted net result

Net result attributed to equity holders

22,549

19,539

Amortisation of acquired intangibles

50,332

53,895

Acquisition-related gain

0

–2,472

Tax effect of adjustments

–12,583

–12,985

ADJUSTED NET RESULT

60,298

57,977

Excel

2014

2013

NUMBER OF SHARES

Weighted average number of ordinary shares for basic earnings per share

222,689,197

221,950,450

EFFECT OF DILUTIVE POTENTIAL ORDINARY SHARES

Share options and restricted stock

2,432,734

1,356,832

WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES FOR DILUTED EARNINGS PER SHARE

225,121,931

223,307,282

EARNINGS PER SHARE (in €)

Basic

0.10

0.09

Diluted

0.10

0.09

ADJUSTED EARNINGS PER SHARE (in €)1

Basic

0.27

0.26

Diluted

0.27

0.26

  1. Adjusted earnings per share is not an IFRS performance measure and hence is not comparable across companies.
Accounting policy

Basic earnings per share

Basic earnings per share is calculated by dividing the profit attributable to equity holders of the company by the weighted average number of ordinary shares outstanding during the year.

Diluted earnings per share

Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all potential dilutive ordinary shares arising from stock options and other equity-settled share-based plans. For the stock options, a calculation is performed to determine the number of shares that could have been acquired at fair value (determined as the average annual market share price of the company's shares), based on the monetary value of the subscription rights attached to outstanding share options. The number of shares calculated as above is compared with the number of shares that would have been issued, assuming the exercise of the stock options. When the effect of the options and other equity-settled share-based plans is anti-dilutive, the number is excluded from the calculation of diluted earnings.

Adjusted earnings per share

Adjusted earnings per share is calculated by dividing the adjusted earnings by the weighted average number of ordinary and diluted shares outstanding during the year.