170 / 204
168
Rothschild & Co | Annual Report 2017
Note 35 – Earnings per share
01/04/17
31/12/17
(9 months)
01/04/16
31/03/17
(12 months)
Net income – Group share (millions of euro)
190.6
186.0
preferred dividends adjustment (millions of euro)
(0.6)
(0.7)
Net income – Group share after preferred dividends adjustment (millions of euro)
190.0
185.3
Basic average number of shares in issue – 000s
74,642
70,181
Earnings per share – basic (euro)
2.55
2.64
Diluted average number of shares in issue – 000s
75,915
71,145
Earnings per share – diluted (euro)
2.50
2.60
Basic earnings per share are calculated by dividing Net income – Group share (after removing accrued preferred dividends, which are not part of the profit
earned by ordinary shareholders) by the weighted average number of ordinary shares in issue during the period.
Diluted earnings per share are calculated using the treasury share method, whereby net income is divided by the weighted average number of ordinary
shares outstanding plus the bonus number of ordinary shares that would be issued through dilutive option or share awards. Share options and awards
which are dilutive are those which are in the money, based on the average share price during the period. The majority of potential ordinary shares which
are not dilutive are connected to the R&Co Equity Scheme, which is described in note 27.
As there were no gains or losses on discontinued activities, the earnings per share on continuing activities are the same as earnings per share.
Following the change of financial year end, further earnings per share data has been prepared to aid comparison between reporting periods. This further
data is set out in Section I. Highlights.
Note 36 – Consolidation scope
Article 7 of Law No. 2013-672 of 26 July 2013, amending Article L.511-45 of the French Monetary and Financial Code, requires credit institutions to
publish information on their locations and activities in each country or territory.
The following table shows the material subsidiaries and associates which are included in the Group consolidated accounts, and the territory in which
they are domiciled. The list below does not include dormant or nominee companies, on account of their immateriality.
The activities shown below are those used in note 34, and the abbreviations used are defined in the glossary of this report.
Company name
Activity
31/12/2017
31/03/2017
Consolidation method
(1)
% Group
voting
interest
% Group
ownership
interest
% Group
voting
interest
% Group
ownership
interest
31/12/2017 31/03/2017
Australia
Rothschild Australia Limited
RGA
100.00
99.52
100.00 99.22
FC
FC
Belgium
Rothschild Belgique – Rothschild & Compagnie
Banque SCS branch
RPW&AM
100.00
99.82
100.00 99.63
FC
FC
Rothschild Belgium SA
RGA
100.00
99.98
100.00
99.98
FC
FC
Transaction R Belgique – Transaction R SCS
branch
RGA
100.00
99.55
100.00 99.34
FC
FC
Bermuda
Rothschild Trust (Bermuda) Limited
RPW&AM
100.00
90.09
100.00 86.80
FC
FC
Brazil
N M Rothschild & Sons (Brasil) Limitada
RGA
100.00
99.52
100.00 99.22
FC
FC
British Virgin Islands
Master Nominees Inc
RPW&AM
100.00
90.09
100.00 86.80
FC
FC
Rothschild BVI Ltd
RPW&AM
100.00 90.09 100.00 86.80
FC
FC
Notes to the consolidated financial statements
(1) FC: full consolidation.
EM: equity method.