30
| in € million/Shares in thousands | 2004 | 2003 | ||
| Net income | 274 | 108 | ||
| Plus: Increase in profit due to dilutive effect of convertible bond |
8 | – | ||
| Profit after adjusting for dilutive effects | 282 | 108 | ||
| Weighted average number of shares outstanding | 119,273 | 119,262 | ||
| Effect of dilutive subscription rights | 216 | 48 | ||
| Effect of dilutive convertible bond | 6,429 | – | ||
| Weighted average of shares outstanding – fully diluted – | 125,918 | 119,310 | ||
| Earnings per share in € | 2.30 | 0.91 | ||
| Earnings per share in € – fully diluted – | 2.24 | 0.91 |
In May 2004, Linde issued a convertible bond with a nominal amount of €550 million. The conversion terms were not met in fiscal 2004. The dilutive effects of issuing future shares were taken into account in the calculation of earnings per share.
The Refrigeration business segment which was sold during the year did not have any dilutive effect on earnings per share in fiscal 2004 or in the previous year.
