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14.1 Earnings per share

Earnings (losses) per share calculated according to IAS 33:    
    FY 2008FY 2007
Group proft (loss) for the period (A) (figures in thousands of Euro):                  94,765               96,246
Weighted average number of shares in circulation      
for the purposes of calculating earnings (losses) per share:    
- base (B)          1,031,541,215    1,016,123,788
- diluted (C )          1,031,541,215    1,016,123,788
Earnings (losses) per share (in Euro)      
- base (A/B)                       0.092                 0.095
- diluted (A/C)                       0.092                 0.095

Base earnings per share are calculated according to the profit attributable to holders of ordinary capital instruments of the Parent Company entity. Diluted earnings per share are equal to base earnings per share because no other categories of share, apart from ordinary shares, exist, and nor do any instruments convertible to shares. The weighted average number of shares in circulation in 2008, by comparison with the previous period, changed as a result of two extraordinary transactions with effect from 1 January 2008, namely:

  • the merger by incorporation of Sat SpA, via a capital increase in which 14,540,334 shares were issued;
  • a capital increase for non-cash consideration of technology networks by the municipal authorities of Castiglione de Pepoli, Grizzana Morandi, Monzuno, San Benedetto Val di Sembo and Sasso Marconi, in which 1,445,339 shares were issued.
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