Earnings (loss) per share

12 Months Ended

Dec. 31, 2021

Earnings (loss) per share

Earnings (loss) per share

34 Earnings (loss) per share

Basic earnings (loss) per ordinary share are calculated by dividing net profit (loss) for the period attributable to Eni’s shareholders by the weighted average number of ordinary shares issued.

Diluted earnings (loss) per share are calculated by dividing the net profit (loss) of the period attributable to Eni’s shareholders by the weighted average number of shares fully-diluted, excluding treasury shares, and including the number of potential shares to be issued in connection with stock-based compensation plans.

As of December 31, 2021, the shares that could be potentially issued related the estimation of new shares that will vest in connection with the 2017-2019 and 2020–2022 long-term monetary incentive plans.

In determining basic and diluted earnings (loss) per share, the net profit (loss) for the period attributable to Eni is adjusted to take into account the remuneration of perpetual subordinated bonds, net of tax effect, calculated by using the amortized cost method.

Reconciliation of the weighted average number of shares used for the calculation for both basic and diluted earnings (loss) per share was as follows:

		2021	2020	2019
Weighted average number of shares used for basic earnings (loss) per share		3,565,973,883	3,572,549,651	3,592,249,603
Potential shares to be issued for ILT incentive plan		7,598,593	—	2,251,406
Weighted average number of shares used for diluted earnings per share		3,573,572,476	3,572,549,651	3,594,501,009
Eni’s net profit (loss)	(€ million)	5,821	(8,635)	148
Remunaration of subordinated perpetual bonds net of tax effect	(€ million)	(95)	—	—
Eni’s net profit (loss) for basic and diluted earnings (loss) per share	(€ million)	5,726	(8,635)	148
Basic earnings (loss) per share	(€ per share)	1.61	(2.42)	0.04
Diluted earnings (loss) per share	(€ per share)	1.60	(2.42)	0.04