12. Earnings per Share

Earnings per share is calculated by dividing the profit attributable to equity holders of the company by the weighted average number of ordinary shares in issue during the year.

2014

2013

Result for the year attributable to equity holders of the parent, in thousands of EUR

161,203

141,473

Average number of outstanding ordinary shares (attributable to equity holders of the parent)

12,537,417

12,525,688

Earnings per ordinary share, basic and diluted (in EUR)

12.86

11.29

On 20 January 2015 the Group issued 241,721,553 ordinary shares. Earnings per share for 2014 calculated based on this issuance would be 0.64 EUR (2013: 0.56 EUR).