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FINANCIAL STATEMENTS, MANAGEMENT AND CORPORATE GOVERNANCE REPORT.
2011
24.1. Basic earnings per share:
Basic earnings per share are calculated by dividing the net profit or loss attributable to the Group by the weighted
average number of shares outstanding during the year, excluding the average number of treasury shares held in the year.
Accordingly:
2011
2010
Change
Net profit for the year (thousands of euros)
110,519
70,545
39,973
Number of shares outstanding
400,442,167
403,293,430
(2,851,262)
Basic earnings per share (euros)
0.28
0.17
0.10
24.2. Diluted earnings per share:
Diluted earnings per share are calculated by dividing the net profit or loss for the year attributable to ordinary shareholders
adjusted for the effect attributable to the dilutive potential ordinary shares by the weighted average number of ordinary
shares outstanding in the year, adjusted by the weighted average number of ordinary shares that would be issued on
the conversion of all the dilutive potential ordinary shares into ordinary shares of the Company. For these purposes, the
conversion is deemed to take place at the beginning of the year or on the date of issue of the potential ordinary shares
if such shares had been issued during the reporting period.
Accordingly:
2011
2010
Change
Net profit for the year (thousands of euros)
110,519
70,545
39,973
Number of shares for calculating diluted earnings per share
401,613,263 405,482,568 (3,869,304)
Diluted earnings per share (euros)
0.28
0.17
0.10
25. RELATED PARTY TRANSACTIONS
25.1. Transactions with associates and shareholders
Transactions between the Company and its subsidiaries, which are related par ties, have been eliminated on consolidation
and are not disclosed in this Note.Transactions between the Group and its associates are disclosed below.Transactions
between the Company and its subsidiaries and associates are disclosed in the Company’s individual financial statements.
The Group’s accounts payable to and receivable from related parties are as follows: