9 Earnings per share

The earnings per share are based on the consolidated profit of the Group and the average number of shares outstanding, excluding treasury shares.

 

2012

2013

 

Restated

 

Number of shares issued

11,444,576

11,444,576

   

Number of treasury shares

(546,590)

(362,840)

   

Average number of shares outstanding

10,817,668

10,977,758

   

Basic earnings per share (CHF/share)

3.92

4.16

   

Employee share option plans

 

 

Average number of shares under option total

337,462

206,722

Average number of shares under option dilutive

297,482

190,130

Average exercise price

58.60

62.30

 

 

 

Number of shares that would have been issued at average market price for
the year of CHF 90.40 (2012: CHF 68.11).

255,947

131,031

   

Adjustment for dilutive share options

41,535

59,099

   

Employee share plans

 

 

Adjustment for not vested shares (PSMP/initial grant and other share plans)

33,095

28,890

Adjustment for contingently issuable shares (PSMP/matching shares)

76,007

56,648

 

  

Average number of shares outstanding after dilution

10,968,306

11,124,395

   

Diluted earnings per share (CHF/share)

3.86

4.11