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Earnings per share
 12 Months Ended
Dec. 31, 2024
Earnings per share [abstract]  
Earnings per share Earnings per share
Basic earnings per share
The calculation of basic earnings per share was based on a result attributable to ordinary shares and a weighted average number of ordinary shares outstanding during the period ended December 31 of each year, calculated as follows:

Result attributable to ordinary shares
202420232022
Result for the period (in USD)870,829,138 858,026,940 203,251,347 
Weighted average number of ordinary shares196,041,579 201,901,743 201,747,963 
Basic earnings per share (in USD)4.44 4.25 1.01 

Weighted average number of ordinary shares
(in shares)Shares issuedTreasury sharesShares outstandingWeighted number of shares
On issue at January 1, 2022220,024,713 18,346,732 201,677,981 201,677,981 
Issuance of shares— — — — 
Purchases of treasury shares— — — — 
Withdrawal of treasury shares— — — — 
Transfer of treasury shares— (105,551)105,551 69,982 
On issue at December 31, 2022220,024,713 18,241,181 201,783,532 201,747,963 
On issue at January 1, 2023220,024,713 18,241,181 201,783,532 201,783,532 
Issuance of shares— — — — 
Purchases of treasury shares— — — — 
Withdrawal of treasury shares— — — — 
Transfer of treasury shares— (450,465)450,465 118,211 
On issue at December 31, 2023220,024,713 17,790,716 202,233,997 201,901,743 
On issue at January 1, 2024220,024,713 17,790,716 202,233,997 202,233,997 
Issuance of shares— — — — 
Purchases of treasury shares— — — — 
Withdrawal of treasury shares— — — — 
Transfer of treasury shares— 8,017,162 (8,017,162)(6,192,418)
On issue at December 31, 2024220,024,713 25,807,878 194,216,835 196,041,579 

Diluted earnings per share
For the twelve months ended December 31, 2024, the diluted earnings per share (in USD) amount to 4.44 (2023: 4.25 and 2022: 1.01). All LTIPs were terminated during the 2nd half of 2023 due to the change of control (see Note 24). As of December 31, 2023, the Company no longer has instruments that can give rise to dilution.
Weighted average number of ordinary shares (diluted)
The table below shows the potential weighted number of shares that could be created if all stock options and restricted stock units were to be converted into ordinary shares.
(in shares)202420232022
Weighted average of ordinary shares outstanding (basic)196,041,579 201,901,743 201,747,963 
Effect of Share-based Payment arrangements— — 246,254 
Weighted average number of ordinary shares (diluted)196,041,579 201,901,743 201,994,217 

There are no more remaining outstanding instruments at December 31, 2024 and December 31, 2023 due to the change of control which caused an accelerated vesting of all RSUs. The RSUs of the LTIP 2019, LTIP 2020 and LTIP 2021 could have given rise to dilution at December 31, 2022.