5.- EARNINGS PER SHARE

Basic earnings per share (EPS) are calculated by dividing the net profit or loss attributable to the Group in a period by the weighted average number of outstanding shares during the period, excluding the average number of treasury shares held during the same period.

In accordance with this:

	31/12/2017	31/12/2016
Net profit for the year (thousands of euros)	35.489	30.750
Weighted average number of shares in circulation (in thousands)	340.805	341.042
Basic earnings per share in euros	0,104	0,090

Diluted earnings per share are established on a similar basis to basic earnings per share; however, the weighted average number of shares outstanding is increased by the maximum number of shares to be issued by the convertible bonds: 50,823,338 shares (see Note 15).

	31/12/2017	31/12/2016
Net profit for the year (thousands of euros)	35.489	30.750
Weighted average number of shares with dilutive effect (in thousands)	391.628	391.865
uted earnings per share in euros	0,091	0,078