Earnings Per Share

12 Months Ended

Dec. 31, 2019

20. Earnings Per Share

(a) Basic and diluted earnings per share

Basic earnings per share are calculated by dividing the result attributable to equity holders of the Company by the weighted average number of shares outstanding during the year.


	2019		2018		2017
Result attributable to equity holders of the Company (€ in thousands)		(56,480)		(36,894)		(43,637)
Weighted average number of shares outstanding		41,037,244		34,052,520		25,374,807
Basic (and diluted) earnings per share (€ per share)	€	(1.38)	€	(1.08)	€	(1.72)

(b) Diluted earnings per share

For the periods included in these financial statements, the share options are not included in the diluted earnings per share calculation as the Company was loss-making in all periods. Due to the anti-dilutive nature of the outstanding options, basic and diluted earnings per share are equal.

The Company did not declare dividends for any of the years presented in these financial statements.