148 2019 Universal registration document and annual financial report - BNP PARIBAS
3 2019 review of oPerations
3
Alternative Performance Measures (APM) Article 223-1 of the AMF s General regulation
NET EARNINGS PER SHARE
In millions 31 December
2019 31 December
2018 31 December
2017 31 December
20 16 31 December
2015 Average number of shares outstanding excluding Treasury shares 1,248 1,248 1,246 1,244 1,243
Net income attributable to equity holders 8,173 7,526 7,759 7,702 6,694 Remuneration net of tax of Undated Super Subordinated Notes (414) (367) (286) (357) (282) Exchange rate effect on reimbursed Undated Super Subordinated Notes (14) 0 64 125 (27) Net income attributable to equity holders, after remuneration and exchange rate effect on Undated Super Subordinated Notes 7,745 7,159 7,537 7,470 6,385
NET EARNINGS PER SHARE (EPS) (IN EUROS) 6.21 5.73 6.05 6.00 5.14
RETURN ON EQUITY
In millions of euros 31 December 2019 31 December 2018
Shareholders Equity Group Share 8,173 7,526
Remuneration net of tax of Undated Super Subordinated Notes (428) (367)
Net income restated used for the calculation of ROE/ROTE 7,745 7,159
Average permanent shareholders equity, not revaluated(1) 90,770 87,257
Return on Equity 8.5% 8.2%
Average tangible permanent shareholders equity, not revaluated(2) 78,801 74,901
Return on Tangible Equity 9.8% 9.6%
(1) Average Permanent shareholders equity: average of beginning of the year and end of the period (Permanent Shareholders equity = Shareholders equity attributable to shareholders - changes in assets and liabilities recognised directly in equity - Undated Super Subordinated Notes - remuneration net of tax payable to holders of Undated Super Subordinated Notes - proposed dividend distribution).
(2) Average Tangible permanent shareholders equity: average of beginning of the year and end of the period (Tangible permanent shareholders equity = permanent shareholders equity - intangible assets - goodwill).
MAIN EXCEPTIONNAL ITEMS
2019 2018
Operating expenses
Restructuring costs(1) (Corporate Centre) (311) (129)
Transformation costs - 2020 Plan (Corporate Centre) (744) (1,106)
Additional adaptation measures - departure plans(2) (Corporate Centre) (162)
Total exceptional operating expenses (1,217) (1,235)
Other non operating items Capital gain on the sale of 16.8% of SBI Life and deconsolidation of the residual stake(3) (Corporate Center) 1,450
Capital gain on the sale of a building (Corporate Centre) 101
Goodwill impairments (Corporate Centre) (818)
Capital gain on the sale of 30.3% of First Hawaiian Bank (Corporate Centre) 286
Capital gain on the sale of a building (Corporate Centre) 101
Total exceptional other non operating items 732 387
TOTAL EXCEPTIONAL ITEMS (PRE-TAX) (485) (848)
TOTAL EXCEPTIONAL ITEMS (AFTER TAX)(4) (242) (510)
(1) Related in particular to the integration of Raiffeisen Bank Polska and the discontinuation or restructuring of certain businesses (in particular BNP Paribas Switzerland).
(2) Related in particular to BNL bc, Asset Management and BancWest. (3) 5.2% residual stake in SBI Life. (4) Group share.
