ANNUAL REPORT 2007 | 2008 - Gimv

Gimv pays little tax. The Group’s main activity consists of taking
shareholdings and reselling them later with a capital gain. Capital
gains are tax-exempt in Belgium. Gimv NV has extensive tax loss
carryforwards and fi nally taxed income from the past. With the
introduction of notional interest deduction, an additional buffer
of notional interest deduction is also created every year, which
can be carried forward for seven years.
Gimv does not record deferred taxation on the deductible
temporary differences and on tax loss carryforwards. This is
because, in the group’s specifi c tax situation, the likelihood
15. EARNINGS PER SHARE
(in EUR 000)
130 | Gimv Annual Report 2007-2008 | Statutory consolidation
2007-2008 2006-2007
Net profi t attributable to ordinary shareholders of the parent A 168 018 241 290
Interest on convertible non-cumulative redeemable preference shares
Net profi t attributable to ordinary shareholders of the parent adjusted
for the effect of effect van de convertible preference shares B 168 018 241 290
(X 000)
Weighted average number of ordinary shares (excluding treasury
shares) for basic earnings per share
Effect of dilution
A 23 176 23 176
Share options - -
Redeemable preference shares
Weighted average number of ordinary shares (excluding treasury
- -
shares) adjusted for the effect of dilution B 23 176 23 176
(in EUR)
Earnings per share A 7.25 10.41
Earnings per share with effect of dilution B 7.25 10.41
Earnings per share are obtained by dividing the net profi t attributable
to the holders of ordinary shares of the parent company
by the weighted average number of shares outstanding during
the year.
The diluted earnings per share are calculated by dividing the net
profi t attributable to the holders of ordinary shares of the parent
company (after deducting interest on convertible, redeemable,
non-cumulative preference shares) by the sum of the weighted
that these can be applied in the near future is considered low.
The deferred tax assets and liabilities that are recorded derive
exclusively from the consolidated buy-out companies.
The EUR 8 134 of tax charges in the statutory consolidation
come mainly (EUR 7 993) from the buy-outs that are required
to be included in the statutory consolidation.
The Gimv group’s risk is limited to the amount of the investment
in these buy-outs. The Gimv group therefore bears no liability
whatsoever for the tax liabilities of these buy-outs.
average number of outstanding shares during the year and the
weighted average number of ordinary shares that would be
issued by the conversion into ordinary shares of all rights to
ordinary shares having a potentially dilutive effect.
The table above gives information on the profi t and shares
fi gures used in calculating normal and diluted earnings per
share.