Result of the period

The result of the period attributable to the Group amounted to € 90 million (€ 856 million at 31 December 2011).

Despite the excellent operating performance, this result was affected by:

  • the worsening of the non-operating result, which amounted to € −2,496 million (€ −2,013 million at 31 December 2011):
  • the increase in taxes that amounted to € −1,326 million (€ −762 million at 31 December 2011). In particular, there was a significant increase in the tax rate, which went from about 40% at 31 December 2011 to about 77% due to significant non-deductible fiscal impairments, the increased taxes on several foreign investments in subsidiaries, associated companies and joint ventures and the taxation of the Réserve de Capitalisation in France;
  • the worsening of the discontinued activities, which amount to € −30 million (€ 0 million at 31 December 2011) given the disposal of the investment in the Migdal group.

 

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Result of the period
      Fourth quarter
2012
Fourth quarter
2012
(€ million) 31.12.2012 31.12.2011 2012 2011
Earnings before taxes 1,723 1,914 -523 278
Income taxes -1,326 -762 -457 -178
Earnings after taxes 397 1,153 -980 100
Profit or loss from discontinued operations -30 0 -8 0
Consolidated result of the period 367 1,153 -988 100
Result of the period attributable to the Group 90 856 -1,043 31
Result of the period attributable to minority interests 277 297 55 69
Earning per share

31.12.2012 31.12.2011
Result of the period (€ million) 90 856,1
- from continuing operations 124 856,2
- from discontinued operations −35 -0.1
Weighted average number of ordinary shares outstanding            1.540.876.249         1.540.875.154
Basic earnings per share (€) 0.06 0.56
- from continuing operations 0.08 0.56
- from discontinued operations −0.02 0

Basic earnings per share are calculated by dividing the result of the period by the weighted average number of ordinary shares outstanding during the period. The weighted average number of ordinary shares outstanding is adjusted for the Parent Company’s average number of shares owned by itself or by other Group companies during the period.

  31.12.2012 31.12.2011
Result of the period (€ million) 90 856.1
- from continuing operations 124 856.2
- from discontinued operations −35 -0.1
Weighted average number of ordinary shares outstanding 1,540,876,249 1,540,875,154
Adjustments for stock option 0 0
Weighted av erage number of ordinary shares outstanding for diluted earnings per share  1,540,876,249   1,540,875,154
Basic earnings per share (€) 0.06 0.56
- from continuing operations 0.08 0.56
- from discontinued operations −0.02 0

Diluted earnings per share reflect the eventual dilution effect of potential ordinary shares.

AttachmentSize
Reclassified P&L account by segment - FY1189.34 KB
Reclassified P&L account by segment - FY1289 KB
From operating result to net result83.85 KB