Notes 21-25

23. Earnings per share

Basic earnings per share

The calculation of basic earnings per share as at 31 December 2008 is based on the profit attributable to ordinary shareholders of the Company (net profit) of €209 million (2007: €807 million) and a weighted average number of ordinary shares – basic outstanding during the year ended 31 December 2008 of 488,930,340 (2007: 489,353,315). Basic earnings per share for the year amounts to €0.43 (2007: €1.65).

Weighted average number of shares – basic

In shares 2008 2007
Number of shares – basic – as at 1 January 489,174,594 489,564,594
Effect of own shares held (244,254) (211,279)
Weighted average number of shares – basic – as at 31 December 488,930,340 489,353,315

Diluted earnings per share

The calculation of diluted earnings per share as at 31 December 2008 was based on the profit attributable to ordinary shareholders of the Company (net profit) of €209 million (2007: €807 million) and a weighted average number of ordinary shares – basic outstanding after adjustment for the effects of all dilutive potential ordinary shares of 489,974,594 (2007: 489,974,594). Diluted earnings per share for the year amounted to €0.43 (2007: €1.65).