Section 24 – Earnings per share

24.1 Average number of ordinary diluted shares

Earnings per share and diluted earnings per share 31.12.2015 31.12.2014
Consolidated profit for the year (in thousands of Euro) 161.966 95.876
Average number of outstanding shares 53.034.493 52.899.739
Average number of potentially dilutive shares 5.787 6.093
Average number of diluted shares 53.028.706 52.893.646
Earnings per share (Units of Euro) 3,05 1,81
Diluted earnings per share (Units of Euro) 3,05 1,81

Potentially dilutive shares refer to share-based payments for upfront variable pay, as described in Part I of these Notes.