Solvay
2019 Annual Integrated Report

Accounting policy

The basic earnings per share are obtained by dividing profit for the year by the weighted average number of ordinary shares outstanding during the reporting period. The weighted average number of ordinary shares excludes the treasury shares held by the Group over the reporting period.

The diluted earnings per share are obtained by dividing profit for the year, adjusted for the effects of dilutive potential ordinary shares, by the weighted average number of ordinary shares, also adjusted by the number of dilutive potential ordinary shares attached to the issuance of share options.

The number of dilutive potential ordinary shares is calculated for the weighted average number of share options outstanding during the reporting period as the difference between the average market price of ordinary shares during the reporting period and the exercise price of the share option. Share options have a dilutive effect only when the average market price is above the exercise price (share options are “in the money”).

For the purpose of calculating diluted earnings per share, there were no adjusting elements to the profit for the year (Solvay share).

Basic and diluted amounts per share for discontinued operations are presented in the consolidated income statement.

Number of shares (in thousands)

2019

2018

Weighted average number of ordinary shares (basic)

103,177

103,277

Dilution effect

227

459

Weighted average number of ordinary shares (diluted)

103,403

103,735

 

2019

2018

Basic

Diluted

Basic

Diluted

Profit for the year (Solvay share) including discontinued operations (in € thousands)

118,415

118,415

877,219

877,219

Profit/(loss) for the year (Solvay share) excluding discontinued operations (in € thousands)

(117,582)

(117,582)

676,565

676,565

Earnings per share (including discontinued operations) (in €)

1.15

1.15

8.49

8.46

Earnings per share (excluding discontinued operations) (in €)

(1.14)

(1.14)

6.55

6.52

Full data per share, including dividend per share, can be found in the Business Review section.

The average market price during 2019 was € 96.74 per share (2018: € 110.21 per share). The following share options were out of the money, and therefore antidilutive for the period presented, but could potentially dilute basic earnings per share in the future (see note F33 Share-based payments):

Antidilutive share options

Date granted

Exercise price (in €)

Number of share options granted

Number of share options outstanding

Share option plan 2013

25/03/2013

104.33

427,943

367,171

Share option plan 2014

01/01/2014

101.14

380,151

351,482

Share option plan 2015

25/02/2015

114.51

346,617

346,617

Share option plan 2017

23/02/2017

111.27

316,935

316,935

Share option plan 2018–1

27/02/2018

113.11

400,704

400,704

Share option plan 2018–2

30/07/2018

108.38

72,078

72,078

Share option plan 2019

27/02/2019

97.05

438,107

438,107

Total

 

 

2,382,535

2,293,094