2.10 NET PROFIT AND EARNINGS PER SHARE

The calculation of basic earnings per share attributable to the Parent is as follows:

 

2016

2015

Net profit attributable to the Parent (millions of euros)

376

720

Weighted average number of shares outstanding (thousands of shares)

738,112

735,635

Less average number of treasury shares (thousands of shares)

-7,188

-3,775

Average number of shares to calculate basic earnings per share

730,923

731,860

Basic earnings per share (euros)

0.51

0.98

Diluted earnings per share: at 31 December 2016 and 2015, the Group did not have any dilutive potential ordinary shares, since no convertible debt instruments were issued and the share-based or stock option remuneration plans discussed in Note 6.7 will not give rise to any capital increases at the Group, as explained in that Note. Consequently, no dilutive impact is envisaged when employee rights under the plans are exercised.

The detail by geographical area is as follows:

(Millions of euros)

2016

2015

Change 16/15

Spain

101

139

-38

UK

-76

241

-317

US

102

232

-130

Australia

-30

-4

-27

Canada

102

70

32

Poland

53

15

37

Other

125

26

99

TOTAL

376

720

-344

The earnings by business segment are shown in Appendix III.

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