Ryanair 2016 Annual Report Download - page 192

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22. Earnings per share
At March 31,
2016
2015
2014
Basic earnings per ordinary share (in euro cent)
116.26
62.59
36.96
Diluted earnings per ordinary share (in euro cent)
115.63
62.46
36.86
Number of ordinary shares (in Ms) used for EPS
Basic
1,341.0
1,384.7
1,414.6
Diluted (a)
1,348.4
1,387.6
1,418.2
(a) Details of share options in issue have been described more fully in Note 15 to the consolidated financial statements. See below
for explanation of diluted number of ordinary shares.
Diluted earnings per share takes account solely of the potential future exercise of share options granted under the
Company’s share option schemes. For the 2016 fiscal year, the weighted average number of shares in issue of 1,348.4
million includes weighted average share options assumed to be converted, and equal to a total of 7.4 million shares. For
the 2015 fiscal year, the weighted average number of shares in issue of 1,387.6 million includes weighted average share
options assumed to be converted, and equal to a total of 2.9 million shares. For the 2014 fiscal year, the weighted average
number of shares in issue of 1,418.2 million includes weighted average share options assumed to be converted, and equal
to a total of 3.6 million shares.
23. Commitments and contingencies
Commitments
In March 2013, the Group entered into a contract with Boeing (the “2013 Boeing Contract”) whereby the Group
agree to purchase 175 Boeing 737-800 “next-generation” aircraft over a five-year period from calendar 2014 to 2018. This
agreement was approved at an EGM of Ryanair Holdings plc on June 18, 2013.
In April 2014, the Company agreed to purchase an additional 5 Boeing 737-800 “next-generation” aircraft for
delivery in fiscal year 2016 on the same terms and conditions as the 2013 Boeing Contract. In March 2015, the Company
announced the purchase of an additional three Boeing 737-800 aircraft for delivery in early 2016 on the same terms as the
2013 Boeing Contract. This brings the total “firm” new deliveries to 183 aircraft.
In September 2014, the Group agreed to purchase up to 200 (100 firm orders and 100 subject to option) Boeing
737-Max-200 aircraft from The Boeing Corporation during the period Fiscal 2019 to Fiscal 2024. This agreement was
approved at an EGM of Ryanair Holdings plc on November 28, 2014.
The table below details the firm aircraft delivery schedule at March 31, 2016 and March 31, 2015 for the Company
pursuant to the 2013 and 2014 Boeing contracts.
Basic
Firm Aircraft
Aircraft
Firm
Firm Aircraft
price per
Deliveries
Delivered at
Aircraft
Deliveries
Total
aircraft
Fiscal 2015-
March 31,
Deliveries
Post Fiscal
“Firm”
(U.S.$
2016 at March
2016
Fiscal 2017
2016/2017
Aircraft
million)
31, 2015
2013 Contract
52
52
79
183
78.49
11
2014 Contract
—
—
100
100
102.50
—
Total
52
52
179
283
11
The “Basic Price” (equivalent to a standard list price for an aircraft of this type) for each aircraft governed by the
2013 Boeing contract will be increased by (a) an estimated U.S.$2.9 million per aircraft for certain “buyer furnished”
equipment the Company has asked Boeing to purchase and install on each of the aircraft, and (b) an “Escalation Factor”
designed to increase the Basic Price, as defined in the purchase agreement, of any individual aircraft by applying a formula