11. Earnings per share
Basic earnings per share is calculated by dividing the distributable retained profit for the financial year by the average share issue adjusted number of shares, excluding shares that have been purchased by the Company and are presented as the Company's own shares. Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares.
€ ('000) 2012 2011
Attributable to the equity holders of the Company, € ('000) 2,708 10,899
Interest expense on hybrid bond (net of tax) -2,463 -2,414
Profit/loss used determine diluted earnings per share 245 8,485
Weighted average number of shares ('000) 84,281 84,281
Own shares ('000) -26 -26
Weighted average number of shares ('000)
84,255 84,255
Effect of options ('000)
Weighted average number of shares adjusted for the effect 0 0
of dilution ('000)
84,255 84,255
Earnings per share (basic), cents 0.3 10.1
Earnings per share (diluted), cents 0.3 10.1