40. EARNINGS (LOSSES) PER SHARE

Basic earnings (losses) per share are given by the ratio between net income (loss) attributable to the owners of the parent (adjusted to take into account the minimum dividend allocated to savings shares) and the weighted average of the number of ordinary shares outstanding during the period, with the exclusion of treasury shares.

(in thousands of euro)
  2011 2010
Net income (loss) attributable to owners of the Parent from continuing operations  451,608 233,821
Net income (loss) attributable to savings shares reflecting 2% minimum dividend (11,191) (5,794)
Adjusted net income (loss) attributable to owners of the Parent from continuing operations 440,417 228,027
Weighted average of outstanding ordinary shares (in thousands) 475,389 475,389
Basic earnings (losses) per ordinary share from continuing operations (in euro per shares) 0,926 0,480
Net income (loss) attributable to owners of the Parent from discontinued operations - (212,069)
Net income (loss) attributable to savings shares reflecting 2% minimum dividen - 5,255
Net income (loss) attributable to owners of the Parent from discontinued operations - (206,814)
Weighted average of outstanding ordinary shares (in thousands) 475,389 475,389
Basic earnings (losses) per share from discontinued operations (in euro per shares) - (0,435)

 

The diluted earnings (losses) per share at December 31, 2011 have not been calculated because, following expiration of the stock option plans, the prerequisites for such calculation are not met.