Integrated Annual Report 2014

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11. Earnings/(loss) per share

  Year ended
Dec 31 2014
Year ended
Dec 31 2013
Net profit/(loss) attributable to owners of the Parent (PLN ‘000) (A) (1,466,326) 39,415
Weighted average number of shares (’000) (B) 145,027 142,717
Earnings/(loss) per share (PLN) (A/B) (10.11) 0.28

Earnings/(loss) per share for each reporting period are calculated by dividing net profit/(loss) for the reporting period by the weighted average number of shares in the reporting period. The weighted average number of shares as at December 12th 2014 includes the new Series D shares in Grupa LOTOS S.A. (see Note 21).

Following the issue of pre-emptive rights to Series D shares and allotment of shares offered in the exercise of pre-emptive rights, in accordance with IAS 33 Earnings per share, the Company calculated earnings per share including the result of the issue of pre-emptive rights (bonus issue at a price of 18.10 PLN per share as compared to the Company’s share price of 25.95 PLN at that time), with a retrospective application to comparative data for 2013.

Diluted earnings/(loss) per share are equal to basic earnings/(loss) per share as the Company carries no instruments with a dilutive effect.

The Notes to the consolidated financial statements are an integral part of the statements.
(This is a translation of a document originally issued in Polish)