14. Earnings per share

Basic earnings per share are calculated by dividing the consolidated net earnings excluding the non-controlling interests by the weighted average number of shares outstanding during the fiscal year.

    T 048
in € thousand 2014/15 2013/14
Consolidated net income attributable to Aurubis AG shareholders 132,435 42,633
Weighted average number of shares (in thousand) 44,957 44,957
Basic earnings per share in € 2.95 0.95
Diluted earnings per share in € 2.95 0.95

Diluted earnings per share are determined by augmenting the weighted average of the shares outstanding during the fiscal year to include the maximum number of shares that could have been issued if all conversion rights on convertible bonds had been exercised. Where applicable, the consolidated net income is increased at the same time by the interest expense incurred on convertible bonds less the corresponding taxes.

Since conversion rights on convertible bonds existed neither in the reporting year nor in the prior year, the diluted earnings per share for the Aurubis Group correspond to the basic earnings per share.