ESR Group Limited Interim Report 2023 Notes to Condensed Consolidated Financial Information 30 June 2023 67 9. EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE COMPANY (continued) The calculations of basic and diluted earnings per share are based on: For the six months ended 30 June 2023 2022 (Unaudited) (Unaudited) US$’000 US$’000 Earnings: Profit attributable to owners of the Company 288,965 380,607 Distributions to holders of perpetual capital securities issued by a subsidiary (13,546) – Profit used to determine basic earnings per share 275,419 380,607 For the six months ended 30 June 2023 2022 ’000 ’000 Number of shares: Weighted average number of ordinary shares in issue, used in the basic earnings per share calculation 4,403,420 4,470,248 Effect of dilution — weighted average number of ordinary shares: Share options 27,253 36,314 4,430,673 4,506,562 Because the diluted earnings per share amount is increased when taking convertible bonds into account, the convertible bonds had an anti-dilutive effect on the basic earnings per share for the period and were ignored in the calculation of diluted earnings per share. Therefore, the diluted earnings per share amounts is based on the profit attributable to ordinary equity holders of the Company (excluding distributions to holders of perpetual capital securities issued by a subsidiary) of US$275,419,000 (30 June 2022: US$380,607,000), and the weighted average number of ordinary shares of 4,430,673,000 (30 June 2022: 4,506,562,000) in issue during the period. 10. INVESTMENTS IN JOINT VENTURES AND ASSOCIATES 30 June 2023 31 December 2022 (Unaudited) (Audited) US$’000 US$’000 Share of net assets from joint ventures 925,168 916,766 Share of net assets from associates 1,788,305 1,637,406 Goodwill on retaining interests in joint ventures and associates 91,134 2 2,804,607 2,554,174 Shareholder loan to joint ventures 488,070 401,642 3,292,677 2,955,816 Shareholder loan to joint ventures are unsecured and interest-free. It is part of the capital commitment to the joint venture and is only repayable upon mutually agreed by all joint ventures partners. Accordingly, the shareholder loan is considered as part of the Group’s investments in the joint venture.
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