PERNOD-RICARD_REGISTRATION_DOCUMENT_2017-2018
5
CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Earnings per share Note 3.4 Basic and diluted earnings per share are calculated on the basis of the weighted average number of outstanding shares, less the weighted average number of dilutive instruments. The calculation of diluted earnings per share takes into account the potential impact of the exercise of all dilutive instruments (such as stock options, convertible bonds, etc.) on the theoretical number of
shares. When funds are obtained at the date of exercise of the dilutive instruments, the “treasury stock” method is used to determine the theoretical number of shares to be taken into account. When funds are obtained at the issue date of the dilutive instruments, net profit is adjusted for the finance cost, net of tax,
relating to these instruments.
Group net profit and net earnings per share from continuing operations
30.06.2018
30.06.2017
Numerator (€ million) Group net profit
1,393
1,577
Denominator (in number of shares) Average number of outstanding shares
264,232,623
264,113,889
Dilutive effect of performance-based share allocations Dilutive effect of stock options and subscription options Average number of outstanding shares – diluted
845,727 399,380
1,062,410
366,703
265,477,729
265,543,003
Earnings per share (€) Earnings per share - basic Earnings per share - diluted
5.27 5.25
5.97 5.94
Expenses by type Note 3.5 Operating profit notably includes depreciation, amortisation and impairment expenses as well as personnel expenses as follows:
30.06.2018
30.06.2017
€ million
Depreciation, amortisation and impairment on property, plant and equipment and intangible assets
(292)
(288)
Salaries and payroll costs
(1,257)
(1,260)
Pensions, medical expenses and other similar benefits under defined benefit plans
(50) (33)
(47) (33)
Expenses related to stock options and share appreciation rights
Total personnel expenses
(1,340)
(1,340)
165
PERNOD RICARD REGISTRATION DOCUMENT 2017/2018
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