243
28. EARNINGS/(LOSS) AND DIVIDENDS PER SHARE
Basic earnings/(loss) per share have been determined by
dividing the net result for the period attributable to owners
of the parent by the average number of the Company’s
outstanding shares. With regard to the denominator used
for calculating earnings per share, the average number of
outstanding shares also includes:
a. the shares issued following exercise of options under the
Stock Option Plan, involving the issue of 546,227 shares
in 2008, 688,812 shares in 2009, 794,263 shares in 2010,
539,609 shares in 2011 and 115,300 shares in 2012. The
remaining options are all vested and can be exercised in
just one remaining 30-day period, running from the date
of approving the proposed annual financial statements for
2012;
b. the issue of 31,824,570 shares under the capital increase for
the acquisition of the Draka Group.
Diluted earnings/(loss) per share have been determined
by taking into account, when calculating the number of
outstanding shares, the potential dilutive effect of options
granted under existing Stock Option Plans.
(in millions of Euro)
12 months 2012
12 months 2011
Net profit/(loss) attributable to owners of the parent
168
(136)
Weighted average number of ordinary shares (thousands)
211,416
208,596
Basic earnings/(loss) per share (in Euro)
0.79
(0.65)
Net profit/(loss) attributable to owners of the parent
168
(136)
Weighted average number of ordinary shares (thousands)
211,416
208,596
Adjustments for:
Dilution from incremental shares arising from exercise of stock options (thousands)
88
1,070
Weighted average number of ordinary shares to calculate diluted earnings per share (thousands)
211,504
209,666
Diluted earnings/(loss) per share (in Euro)
0.79
(0.65)
29. CONTINGENT LIABILITIES
As a global operator, the Group is exposed to legal risks
primarily, by way of example, in the areas of product liability
and environmental, antitrust and tax rules and regulations.
Outlays relating to current or future proceedings cannot be
predicted with certainty. It is possible that the outcomes of
these proceedings may give rise to costs that are not covered
or not fully covered by insurance, which would therefore have
a direct effect on the Group’s results.
It is also reported, with reference to the antitrust
investigations in the various jurisdictions involved, that the
only investigation for which Prysmian Group has been unable
to estimate the related risk is the one in Brazil.
The dividend paid in 2012 amounted to Euro 44 million
(Euro 0.21 per share). A dividend of Euro 0.42 per share for
the year ended 31 December 2012 will be proposed at the
annual general meeting to be held on 16 April 2013 in a
single call; based on the number of outstanding shares, the
above dividend per share equates to a total dividend pay-
out of approximately Euro 89 million. The current financial
statements do not reflect any liability for the proposed
dividend.
