15. Earnings per share

Earnings per share are calculated as follows:

2012 2011
Net income €/000 42,074 46,260
Earnings attributable to ordinary shares €/000 42,074 46,260
Average number of ordinary shares in circulation at 371,793,901 371,793,901
Earnings per ordinary share 0.113 0.124
Adjusted average number of ordinary shares 372,348,319 374,048,592
Diluted earnings per ordinary share 0.113 0.124

The potential effects deriving from stock option plans were considered when calculating diluted earnings per share. As already indicated, published data relative to the previous year, have been restated to make them uniform with current data.