12. EARNINGS PER SHARE
Basic and diluted earnings per share
The earnings and weighted average number of ordinary shares used in the calculation of basic earnings per share are as follows:
12.31.2017 | 12.31.2016 | 12.31.2015 | ||||||||||
Net profit attributable to Owners of the Company—Earnings used in the calculation of basic earnings per share |
1,590,842,382 | 491,173,013 | 348,299,466 | |||||||||
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Weighted average number of ordinary shares for purposes of basic and diluted earnings per share (1) |
571,026,490 | 566,026,490 | 566,026,490 | |||||||||
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Basic and diluted earnings per share |
2.79 | 0.868 | 0.615 |
(1) | The weighted average number of outstanding shares was 571,026,490 and 566,026,490 as of December 31, 2017, 2016 and 2015, respectively, for the purposes of calculating both the basic and diluted earnings per share since there are not outstanding non-convertible debt securities into shares as of December 31, 2017, 2016 and 2015. |