VIPsight - September 2015
COMPANIES
Gesco: still uphill
Gesco AG, the SDax-listed SME holding company got off to a flying start in the first quarter of 2015/16 (at March 31). Sources within the company, however, state that increased turnover and improved order quality notwithstanding, the difficulties are still far from over. Turnover was posted at approximately 119 million Euros, 8 percent up on the same period of the year before. The order book has grown by 15 percent and now stands at approximately 146 million Euros, with the caveat that a number of orders will be accounted for in next year’s turnover. A sizeable part of the business was generated by Setterstix. Inc., Gesco’s new American subsidiary. Despite the rise in turnover, the SME group is still short of the margins posted in recent years, the reason being the restructuring operations that two of the 17 subsidiaries are presently undergoing. Company management, however, maintains that these initiatives are expected to reach completion by the end of the present financial year.
Gesco, however, confirms its forecast of between 480 and 490 million Euros in group turnover for fiscal year 2015-16., with profits at between 12.5 and 14 million Euros.
zooplus: upswing in sales of products for house pets
zooplus AG, the mail order distributor of products for houshold pets, posted a 34 percent rise in revenue to 344 million for the first half of 2015 with a 36 percent increase in turnover to 333 million Euros. EBT is up 11 percent to some 3.6 million Euros. The SDax listed company points out that growth was not only the result of higher turnover but also by lower costs and maximized efficiency. Indeed, costs fell from 31 to 29 percent in the first half year.
In short, Zooplus is standing by its forecast for 2015, with gross revenue not less than 725 million Euros an EBT between 8 and 12 million Euros.
SAF-Holland: market swing towards trucks and trailers
Supplier to the automobile industry SAF Holland S.A. posted excellent results for the first half of 2015. Turnover is approximately 559 million Euros, up 16 percent on the corresponding period of the year before, and even the adjusted EBIT rose by 36 percent to almost 50 million Euros, all despite sluggishness in key markets like Brazil, Russia and Australia. The SDax-listed company owes its success to the increase in demand for trucks and trailers in the USA and Europe – SAF-Holland also manufactures drive shaft and braking systems as well as clutches and jacks. An additional factor in this success was the strength of the dollar and, all told, each business area – trailer systems, powered vehicle systems and aftermarket – posted significant increases, both in turnover and in profit.
The company has clearly stated its medium-term strategy of focussing on growth in emerging countries, and the results achieved in the Asia-Pacific area in the first six months of this fiscal year are particularly encouraging. SSAF-Holland has tweaked its forecast for 2015 slightly upwards seeing a turnover veering towards the upper limit of 980 million Euros. Adjusted EBIT is expected to be in excess of 90 million Euros.
The German Mittelstand
Stock market listed SMEs could use some diversity management
No woman wants to be seen as the one who owes her seat on the board to gender equality legislation according to Katja Suding, Federal vice chair of the FDP in a recent interview published in Bild am Sonntag. And yet the “pink quota” is coming. In the wake of last May’s ratification of the law on gender equality between men and women in top management positions in both the private and public sectors, approximately 100 companies have to set aside a quota of not less than 30% of seats on the Supervisory Board. In addition to these 100 stock market listed companies “obliged to cooption”, a further 3500 mid to large-size companies have to devise an abridged version of the law in order to define its own individual quota for the Supervisory Board, the executive board, and top management. This flexible quota can vary from company to company and be pegged to specific requirements of the company or area of activity.
A stock-market listed SME with a small Supervisory Board is troubled by the new legislation. Intentions are good but put bluntly, there are few candidates available. Head hunters are sharp-eyed on the lookout for qualified women who tend to prefer positions on the Supervisory Boards of larger companies. Small enterprises with a 3-person Supervisory Board have an even bigger problem because the skills required go beyond mere supervision. These members must supervise but also do networking. Shareholders have no desire to replace crucial Board members who are fundamental to a smaller size company. Rather than losing a valued, experienced Board member, the company may decide to increase the number of Board members, but the multiple of 3 requirement could have the effect of creating a board twice as big as before, with all that that entails in terms of costs.
This is why it is important that the companies in question identify their women candidates as soon as possible, and that then they invest in preparing them. What is really needed is a textbook “diversity management”, the only way of holding on to the right people. Achim von Michel, spokesperson and political reference point of the BundesverbandmittelständischeWirtschafte.V. (BVMW) in Bavaria is of the opinion that the quota system interferes with entrepreneurs’ decisional liberty. “Nobody is better qualified than the entrepreneur in knowing who is best suited for a given position. Selecting management post appointees ought not to be based on criteria such as age, skin colour or gender but only on the basis of qualifications. This is why the legal measures are completely wrong”.
It should, however, be remembered that there’s nothing to be gained by arguing, the quotas will be imposed and stock market listed SMEs will have to get used to them, and those who get an early start by investing (or by having invested) in women candidates will find themselves ahead of the game; instead of being appointed by gender, those women candidates will be fully entitled by competence to their seat on the Supervisory or executive board. Those instead who sat tight waiting for a watered down version of the law or even its failure to reach the statute book would be well advised to get moving.
Buhlmann's Corner
“Tis the final conflict”
so says The Internationale. “Arise ye wretched of the earth, .... We have been naught we shall be all”
As I write this, entire peoples are on the move, marching towards the North and the West, fleeing grinding poverty and blazing warfare that organizations on the ground are powerless to halt and international organizations such as G7, G8 and G20 etc seem to be doing their utmost not to interfere with or forget about. We are witnessing a migration on an unprecedented scale that some people find scary. What we see of the entire humanitarian crisis, however, is only the part that looks like getting too close for comfort to us as humans.
Taxpayers’ money is frittered away building walls and boundaries instead of filling the granaries with food and nobody gets angry at such infantile behaviour. It is nothing short of criminal - we are all enamoured of the idea of being good people as we smother the answer to the problem under fathoms of red tape or, failing that, pass the buck to our neighbour. What kind of an idea is it to have the trains run all the way to Denmark without stopping. Or to be wilfully obtuse like England and France. And there are precious few red carpets and welcoming fanfares for refugees from Africa and the Near East in places like the former DDR where, by history’s cruel irony, the people were hemmed in behind a wall that stood for forty years.
Take a closer look and you see a gigantic economic promotion project afoot to benefit the target countries and keep the balancing act going by shoring up a state of affairs that is perilously close to collapse. From the responsible standpoint, it stands to reason that the economic drive generated must be channelled (as it should be) towards economic development in the countries being abandoned. If not, the world of the future will be a combination of endless tracts of uninhabited land and elsewhere masses of human beings living together packed like sardines. Make no bones, this is an issue that dwarfs EMEA and even eclipses the rejuvenation of the ageing cultures from Bavaria to Lower Saxony.
Whining, pointing the finger and intoning “Brüder zur Sonne zur Freiheit“ (a song written in 1895 in a Moscow jail and sung for the first time by political prisoners during their forced march to exile in Siberia) is not a responsible answer.
Shrugging responsibility off to someone else who in turn will pass it on – a nefarious irresponsible mechanism we’re all too familiar with (see asset management etc) is a sure fire way of ruining the future before it arrives.
Otto von Bismark famously remarked in the North German Reichstag in 1870 “fear of responsibility is a malaise of our times”.
From where I stand, behaving responsibly is having the courage and/or strength of bearing the consequences of one’s actions or convictions. To each his/her own and together for all.
If you come across someone who thinks the same let me know. That’ll make two of us!
People
Capital Stage: The CEO quits
Citing personal reasons, Felix Goedhart of Capital Stage AG intends not to renew his contract as chair of the executive board that expires at the end of October, a decision that the Supervisory Board regrets. Goedhart has led the company since 2006 and his contribution has been crucial for its development. His place at the helm will be taken by Klaus-Dieter Maubach who, as a former member of the power company’s executive board has the expertise needed for developing new energy projects and implementing new business models in decentralized and renewable energy.
Together with CFO Christoph Husmann, Maubach will broaden the company’s base of relations with institutional investors and continue fostering company growth through new acquisitions.
PNE Wind: Fall freshness
A truce seems to have been reached in the power struggle presently dogging wind farm planner PNE Wind AG. CEO Martin Billhardt has sided with the whole Supervisory Board in tendering his resignation. The Prime Standard listed group hit the headlines in June for the chaos let loose during the AGM.. Major shareholder and former member of the Supervisory Board Volker Friedrichsen had been highly critical of the emoluments paid out to CEO and Supervisory Board chair, Dieter Kuprian. At that point, Billhardt stepped in, alleging that Friedrichsen had manipulated the original WKN windfarm numbers which, in the meantime had been bought out. Friedrichsen had overseen WKN’s growth as its majority shareholder until it was taken over by PNE.
The failed AGM must be repeated in mid-October. At that point, PNE shareholders will be called upon to elect a complete Supervisory Board from scratch. The question now is whether Friedrichsen will stand for re-election to it..
SMT Scharf: new brooms
The executive board of SMT Scharf AG will have a new member from 2016. Ralf Ferdinand Oberhaus will take the place of Heinrich Schulze-Buxloh who is resigning for contractual and age-related reasons. Oberhaus who has held appointments in a number of top management posts in international mining, railway and iron and steel groups will continue in his predecessor’s area of responsibility, namely distribution and service..
As from July, HansJoachim Theiss will chair the executive board of the Prime Standard-listed company after having resigned his position as member and vice-chair of the Supervisory Board, posts which, in turn will be filled by Dorothea Gattineau who was elected to the board to take his place. Theiss is head of finance and will take the place of Christian Dreyer who tendered his resignation in June. Another new appointee to the executive board is Wolfgang Embert responsible for technical matters.
Capital News
Hello Fresh: fresh foodstuffs in the stock exchange
Hello Fresh, purveyor of foodstuffs ordered on line is hoping to get a stock market listing before the end of the year, according to Handelsblatt citing a source within the company. Hello Fresh does not provide precooked food but portions of fresh ingredients to make certain set dishes. The start-up with Rocket Internet as its majority shareholder is now selling approximately 4 million portions per month, not only in Germany but in Great Britain, the United States and Benelux, with an annual turnover of 120 million Euros. At the beginning of the year, when Rocket Internet added a further 100 million Euros , bringing its share quota to 42 percent, the company established in 2011 was still worth 624 million Euros . According to an internal source, the company could grow up to approximately one billion Euros.
4SC: financial assistance for research
Biotec concern 4SC AG launched two share capital events to increase its share capital from 10,2 to approximately 19 million Euros. In one event, with the right of option, the Prime Standard-listed company placed a total of 7.25 million Euros worth of new shares at 4 Euros each. The gross revenue of the issue – some 29 million Euros – will be used to fund R & D projects in the field of anti tumour drugs Within the other real share capital increase, 4SC issued 1.5 million shares at 4 Euros each, which will enable it to liquidate a substantial part of a shareholder loan of 6 million Euros.
Director's Dealings
| Company | Person | Function | Buy / Sell | Total value in Euro | Number of shares | Datum |
| BASF SE | Smith, Wayne | MB | B | 797.895 USD | 10.500 | 24.08.2015 |
| Deutsche Lufthansa Aktiengesellschaft | Garnadt, Karl Ulrich | MB | B | 49.560 | 4.000 | 31.07.2015 |
| Deutsche Telekom AG | van Damme, Niek Jan | MB | B | 1.071.000 | 75.000 | 24.08.2015 |
| Deutsche Wohnen AG | ASSK Verwaltungsgesellschaft mbH & Co. KG | S | 540.003 | 22.900 | 13.08.2015 | |
| Evonik Industries AG | RSK Asset Management GmbH | B | 186.625 | 5.000 | 06.08.2015 | |
| Fielmann Aktiengesellschaft | Righi, Pier Paolo | SB | B | 10.066 | 174 | 26.08.2015 |
| Fielmann Aktiengesellschaft | Righi, Pier Paolo | SB | B | 12.376 | 214 | 26.08.2015 |
| Fielmann Aktiengesellschaft | Righi, Pier Paolo | SB | B | 5.955 | 103 | 26.08.2015 |
| Fielmann Aktiengesellschaft | Righi, Pier Paolo | SB | B | 9.486 | 164 | 26.08.2015 |
| Fielmann Aktiengesellschaft | Righi, Pier Paolo | SB | B | 3.703 | 64 | 26.08.2015 |
| Fielmann Aktiengesellschaft | Righi, Pier Paolo | SB | B | 16.261 | 281 | 26.08.2015 |
| Fraport AG Frankfurt Airport Services Worldwide | Schulte, Dr. Stefan | MB-Head | B | 40.030 | 740 | 21.08.2015 |
| Fresenius SE & Co. KGaA | Sturm, Stephan | MB | Exercise an Option | 1.185.854 | 25.140 | 13.08.2015 |
| Fresenius SE & Co. KGaA | De Meo, Dr. Francesco | MB | Exercise an Option | 9.333.497 | 210.714 | 05.08.2015 |
| Fresenius SE & Co. KGaA | Schneider, Dr. Ulf M. | MB-Head | Exercise an Option | 2.325.099 | 56.760 | 04.08.2015 |
| HeidelbergCement AG | VEM Vermögensverwaltung AG | B | 20.652.978 | 321.789 | 24.08.2015 | |
| KRONES Aktiengesellschaft | Kronseder, Norman | SB | B | 900.380 | 10.000 | 24.08.2015 |
| KUKA Aktiengesellschaft | Mohnen, Peter | MB | B | 7.401 | 117 | 24.08.2015 |
| KUKA Aktiengesellschaft | Mohnen, Peter | MB | B | 11.430 | 180 | 24.08.2015 |
| Linde Aktiengesellschaft | Büchele, Dr. Wolfgang | MB-Head | B | 109.200 | 650 | 17.08.2015 |
| LPKF Laser & Electronics Aktiengesellschaft | Bentz, Kai | MB | B | 5.680 | 800 | 24.08.2015 |
| MERCK Kommanditgesellschaft auf Aktien | Kley, Dr. Karl-Ludwig | MB-Head | B | 49.854 | 620 | 24.08.2015 |
| MERCK Kommanditgesellschaft auf Aktien | Kley, Dr. Karl-Ludwig | MB-Head | B | 50.068 | 573 | 13.08.2015 |
| MERCK Kommanditgesellschaft auf Aktien | Kley, Dr. Karl-Ludwig | MB-Head | B | 49.568 | 550 | 10.08.2015 |
| MERCK Kommanditgesellschaft auf Aktien | Reckmann, Dr. Bernd | MB | B | 102.000 | 1.200 | 20.08.2015 |
| MERCK Kommanditgesellschaft auf Aktien | Reckmann, Dr. Bernd | MB | B | 4.350 | 50 | 13.08.2015 |
| MERCK Kommanditgesellschaft auf Aktien | Reckmann, Dr. Bernd | MB | B | 50.022 | 575 | 13.08.2015 |
| MERCK Kommanditgesellschaft auf Aktien | Reckmann, Dr. Bernd | MB | B | 50.023 | 575 | 13.08.2015 |
| MERCK Kommanditgesellschaft auf Aktien | Reckmann, Dr. Bernd | MB | B | 189.000 | 2.000 | 06.08.2015 |
| METRO AG | Koch, Olaf | MB-Head | B | 127.250 | 5.000 | 25.08.2015 |
| METRO AG | Koch, Olaf | MB-Head | B | 117.000 | 4.000 | 10.08.2015 |
| MTU Aero Engines AG | Martens, Dr. Rainer | MB | B | 75.407 | 1.000 | 24.08.2015 |
| MTU Aero Engines AG | Martens, Corinna | B | 79.722 | 1.000 | 21.08.2015 | |
| Münchener Rückversicherungs-Gesellschaft | Schneider, Dr. Jörg | MB | S | 178.188 | 1.019 | 06.08.2015 |
| NORMA Group SE | Kleinhens, Bernd | MB | S | 36.734 | 797 | 14.08.2015 |
| NORMA Group SE | Kleinhens, Bernd | MB | S | 624.251 | 13.553 | 13.08.2015 |
| SAP SE | Leukert, Bernd | MB | B | 52.895 | 830 | 13.08.2015 |
| SAP SE | McDermott, Bill | MB | B | 143.169 USD | 2.000 | 11.08.2015 |
| SAP SE | van Skyhawk, Ingrid | S | 8.013 | 122 | 04.08.2015 | |
| SAP SE | Hahn, Andreas | SB | S | 7.615 | 115 | 05.08.2015 |
| STRATEC Biomedical AG | Vielsack, Claus | MB | S | 168.201 | 3.321 | 07.08.2015 |
| STRATEC Biomedical AG | Wolfinger, Marcus | MB-Head | S | 265.597 | 5.244 | 07.08.2015 |
| STRATEC Biomedical AG | Siegle, Robert | MB | S | 265.597 | 5.244 | 07.08.2015 |
| Symrise AG | Hirsch, Bernd | MB | B | 17.778 | 307 | 12.08.2015 |
| Symrise AG | Hirsch, Bernd | MB | B | 60.447 | 1.000 | 06.08.2015 |
| Symrise AG | Hirsch, Bernd | MB | B | 59.990 | 1.000 | 07.08.2015 |
| Symrise AG | Bertram, Dr. Heinz-Jürgen | MB-Head | B | 60.047 | 1.000 | 06.08.2015 |
VIPsight Shareholders
in August 2015
VIPsight Shareholder ID: MDAX & SDAX <click here>
| VIPsight Shareholder ID: …….. Holdings in per cent | |||||||
| Companies | Own-shares | Notifiable shareholders | Share | Investment companies (KAGs) making disclosures* | |||
| Total | Change | Biggest KAG | Share | ||||
| DAX | |||||||
| adidas AG | BlackRock, Inc. | 4,98 St | 24,67 | -2,21 | Capital Research and Management Company | 3,53 | |
| O. Mason Hawkins | 3,06 St | ||||||
| The Capital Group Companies Inc. | 3,02 St | ||||||
| Albert Frère | 3 St | ||||||
| Thornburg Investment Management Inc. | 2,73 St | ||||||
| UBS AG | 1,83 St | ||||||
| Vorstand & Aufsichtsrat | 1 St | ||||||
| Credit Suisse Group AG | 0,38 St | ||||||
| The Goldman Sachs Group, Inc. | 0,16 St | ||||||
| Morgan Stanley | 0,15 St | ||||||
| Commerzbank AG | 0,03 St | ||||||
| Allianz SE | 0,60 (St) | BlackRock, Inc. | 6,25 St | 24,91 | -1,90 | DeAWM Investment GmbH | 1,68 |
| Harris Associates L.P. | 3,05 St | ||||||
| Credit Suisse Group AG | 2,84 St | ||||||
| UBS Group AG | 2,66 St | ||||||
| Morgan Stanley | 0,21 St | ||||||
| Societe Generale S.A. | 0,07 St | ||||||
| Commerzbank AG | 0,04 St | ||||||
| BASF SE | BlackRock, Inc. | 6,37 St | 16,47 | -1,85 | Vanguard Group, Inc., The | 1,27 | |
| Norges Bank (norwegische Zentralbank) | 3,32 St | ||||||
| Credit Suisse Group AG | 2,26 St | ||||||
| UBS Group AG | 1,78 St | ||||||
| Morgan Stanley | 0,35 St | ||||||
| Commerzbank AG | 0,11 St | ||||||
| Bayer AG | BlackRock, Inc. | 6,62 St | 28,98 | -1,72 | Capital Research and Management Company | 5,13 | |
| The Capital Group Companies Inc. | 4,96 St | ||||||
| Sun Life Financial Inc. | 2,98 St | ||||||
| Bayer-Mitarbeiter | 1 St | ||||||
| Credit Suisse Group AG | 0,31 St | ||||||
| Bayerische Motoren Werke AG | Stefan Quandt | 25,81 St | 14,37 | -1,40 | Dodge & Cox Funds | 1,51 | |
| Susanne Klatten | 20,93 St | ||||||
| BlackRock | 3,15 St | ||||||
| Credit Suisse Group AG | 0 St | ||||||
| Beiersdorf AG | 9,99 (St) | maxingvest ag | 50,69 St | 7,54 | -0,77 | Artisan Partners Funds, Inc. | 1,06 |
| BlackRock, Inc. | 2,68 St | ||||||
| Commerzbank AG | Bundesrepublik Deutschland | 15,6 St | 15,64 | -1,50 | Capital Research and Management Company | 4,89 | |
| BlackRock, Inc. | 4,98 St | ||||||
| The Capital Group Companies Inc. | 4,54 St | ||||||
| EuroPacific Growth Fund | 2,75 St | ||||||
| Continental AG | Schaeffler Group | 46 St | 19,43 | -1,45 | DeAWM Investment GmbH | 1,18 | |
| BlackRock, Inc. | 3,3 St | ||||||
| The Royal Bank of Scotland Group plc | 0,02 St | ||||||
| Commerzbank AG | 0 St | ||||||
| Daimler AG | Kuwait Investment Authority | 6,8 St | 19,42 | -1,79 | Harris Associates L.P. | 1,32 | |
| BlackRock, Inc. | 5,56 St | ||||||
| Renault S. A. | 3,1 St | ||||||
| Norges Bank (norwegische Zentralbank) | 2,99 St | ||||||
| UBS Group AG | 1,3 St | ||||||
| Deutsche Bank AG | 1,11 St | ||||||
| Morgan Stanley | 0,22 St | ||||||
| Commerzbank AG | 0,11 St | ||||||
| Deutsche Bank AG | 0,01 (St) | BlackRock, Inc. | 6,32 St | 14,42 | -1,60 | Vanguard Group, Inc., The | 1,18 |
| Paramount Services Holdings Ltd. | 5,83 St | ||||||
| LYXOR INTERNATIONAL ASSET MANAGEMENT S.A.S. | 2,04 St | ||||||
| UBS AG | 1,77 St | ||||||
| JPMorgan Chase & Co. | 0,07 St | ||||||
| Anshuman Jain | 0,06 St | ||||||
| Henry Ritchotte | 0,02 St | ||||||
| Jürgen Fitschen | 0,02 St | ||||||
| Rainer Neske | 0,01 St | ||||||
| Dr. Stephan Leithner | 0,01 St | ||||||
| Deutsche Börse AG | 4,57 (St) | BlackRock, Inc. | 5,33 St | 29,43 | -2,08 | Capital Research and Management Company | 3,33 |
| Invesco Ltd. | 5,02 St | ||||||
| The Capital Group Companies Inc. | 2,98 St | ||||||
| Dodge & Cox | 2,96 St | ||||||
| Baillie Gifford & Co. | 2,95 St | ||||||
| Franklin Mutual Advisers, LLC | 2,9 St | ||||||
| UBS AG | 2,52 St | ||||||
| Credit Suisse Group AG | 1,24 St | ||||||
| Deutsche Lufthansa AG | Templeton Global Advisors Limited | 5 St | 24,66 | -1,62 | Franklin Templeton Investments | 4,84 | |
| BlackRock, Inc. | 2,96 St | ||||||
| The Capital Group Companies Inc. | 2,95 St | ||||||
| UBS AG | 2,89 St | ||||||
| Credit Suisse Group AG | 1,12 St | ||||||
| Morgan Stanley | 0,35 St | ||||||
| Societe Generale S.A. | 0,19 St | ||||||
| The Goldman Sachs Group, Inc. | 0,02 St | ||||||
| Deutsche Post AG | 0,12 (St) | KfW - Kreditanstalt für Wiederaufbau | 20,96 St | 18,23 | -1,45 | DeAWM Investment GmbH | 1,16 |
| BlackRock, Inc. | 6,07 St | ||||||
| Deutsche Telekom AG | 0,40 (St) | KfW - Kreditanstalt für Wiederaufbau | 17,17 St | 12,70 | -1,05 | Capital Research and Management Company | 1,00 |
| Bundesrepublik Deutschland | 14,04 St | ||||||
| BlackRock, Inc. | 5,12 St | ||||||
| E.ON SE | 2,43 (St) | BlackRock, Inc. | 6,06 St | 15,01 | -1,63 | Lyxor International Asset Management | 1,32 |
| Societe Generale S.A. | 0,96 St | ||||||
| Fresenius Medical Care AG & Co. KGaA | 2,42 (St) | Fresenius SE & Co. KGaA | 30,27 St | 15,63 | -1,40 | Vanguard Group, Inc., The | 1,23 |
| BlackRock, Inc. | 4,09 St | ||||||
| Thornburg Investment Management Inc. | 2,95 St | ||||||
| UBS AG | 2,65 St | ||||||
| Commerzbank AG | 0,01 St | ||||||
| Fresenius SE & Co. KGaA | Else Kröner-Fresenius-Stiftung | 26,59 St | 19,42 | -1,54 | Harbor Fund | 2,34 | |
| BlackRock, Inc. | 4,98 St | ||||||
| Allianz SE | 3,82 St | ||||||
| Henderson Group plc | 2,99 St | ||||||
| HeidelbergCement AG | Ludwig Merckle | 25,89 St | 24,02 | -1,06 | First Eagle Funds (division of ASB Securities LLC) | 5,71 | |
| Arnhold and S. Bleichroeder Holdings, Inc. | 5,11 St | ||||||
| BlackRock, Inc. | 4,1 St | ||||||
| Morgan Stanley | 2,98 St | ||||||
| Commerzbank AG | 0 St | ||||||
| Henkel AG & Co. KGaA | 2,07 (Vz) | Familie Henkel | 60,84 St | 19,90 | -2,96 | DeAWM Investment GmbH | 2,43 |
| Infineon Technologies AG | Dodge & Cox | 9,46 St | 34,26 | -2,63 | Dodge & Cox Funds | 5,88 | |
| The Capital Group Companies Inc. | 7,85 St | ||||||
| BlackRock, Inc. | 5,22 St | ||||||
| Allianz Global Investors GmbH | 5,01 St | ||||||
| Kuwait | 3,25 St | ||||||
| Sun Life Financial Inc. | 3 St | ||||||
| UBS AG | 2,4 St | ||||||
| K+S AG | BlackRock, Inc. | 5,13 St | 15,91 | -1,50 | Capital Research and Management Company | 3,66 | |
| Meritus Trust Company Limited | 2,97 St | ||||||
| EuroPacific Growth Fund | 2,49 St | ||||||
| UBS Group AG | 1,92 St | ||||||
| The Goldman Sachs Group, Inc. | 0,92 St | ||||||
| Bank of America Corporation | 0,45 St | ||||||
| Societe Generale S.A. | 0,14 St | ||||||
| Morgan Stanley | 0,07 St | ||||||
| Credit Suisse Group AG | 0,04 St | ||||||
| LANXESS AG | BlackRock, Inc. | 5,48 St | 26,45 | -2,43 | Dodge & Cox Funds | 4,96 | |
| Dodge & Cox | 5,09 St | ||||||
| Union Investment Privatfonds GmbH | 4,24 St | ||||||
| Allianz Global Investors Europe GmbH | 2,92 St | ||||||
| UBS Group AG | 1,91 St | ||||||
| The Goldman Sachs Group, Inc. | 1,28 St | ||||||
| Linde AG | 0,05 (St) | Norges Bank (norwegische Zentralbank) | 6,67 St | 30,22 | -2,16 | Capital Research and Management Company | 2,77 |
| BlackRock, Inc. | 5,5 St | ||||||
| Sun Life Financial Inc. | 4,66 St | ||||||
| The Capital Group Companies Inc. | 2,99 St | ||||||
| Commerzbank AG | 2,94 St | ||||||
| Credit Suisse Group AG | 0,75 St | ||||||
| MERCK KGaA | BlackRock, Inc. | 5,78 St | 30,36 | -2,02 | Newton Fund Managers Ltd. | 5,52 | |
| Templeton Investment Counsel, LLC | 4,99 St | ||||||
| Sun Life Financial Inc. | 4,91 St | ||||||
| The Goldman Sachs Group, Inc. | 1,41 St | ||||||
| UBS AG | 1,26 St | ||||||
| Credit Suisse Group AG | 1,12 St | ||||||
| Societe Generale S.A. | 0,09 St | ||||||
| Morgan Stanley | 0,05 St | ||||||
| Commerzbank AG | 0,01 St | ||||||
| Münchener Rückversicherungs-Gesellschaft AG | 0,49 (St) | Warren E. Buffett | 12 St | 18,81 | -2,44 | Vanguard Group, Inc., The | 1,18 |
| BlackRock, Inc. | 6,16 St | ||||||
| People's Bank of China / State Administration of Foreign Exchange (SAFE) | 3,22 St | ||||||
| Allianz Global Investors GmbH | 3 St | ||||||
| UBS Group AG | 1,64 St | ||||||
| Credit Suisse Group AG | 0,95 St | ||||||
| Commerzbank AG | 0,28 St | ||||||
| Societe Generale S.A. | 0,06 St | ||||||
| Citigroup Inc. | 0,02 St | ||||||
| RWE AG | RWEB GmbH | 16,15 St | 13,95 | -1,32 | Alken AM LLP (UK) | 2,46 | |
| Privataktionäre | 13 St | ||||||
| BlackRock, Inc. | 5,36 St | ||||||
| MIPL Group Limited | 3,02 St | ||||||
| Alken Luxembourg S.A. | 2,97 St | ||||||
| UBS Group AG | 1,62 St | ||||||
| Belegschaftsaktionäre | 1 St | ||||||
| Morgan Stanley | 0,36 St | ||||||
| Credit Suisse Group AG | 0,01 St | ||||||
| SAP SE | 2,71 (St) | Prof. Hasso Plattner | 8,65 St | 11,17 | -1,30 | Deka Investment GmbH | 0,51 |
| Erbengemeinschaft nach Dr. h.c. Klaus Tschira | 7,84 St | ||||||
| Dr. Dietmar Hopp | 5,31 St | ||||||
| BlackRock, Inc. | 4,46 St | ||||||
| Deutsche Bank Trust Company Americas | 3,95 St | ||||||
| Morgan Stanley | 1,21 St | ||||||
| Credit Suisse Group AG | 0,79 St | ||||||
| Bank of America Corporation | 0,12 St | ||||||
| Commerzbank AG | 0,1 St | ||||||
| Siemens AG | 5,19 (St) | Siemens (Familie) | 6 St | 14,31 | -1,72 | Vanguard Group, Inc., The | 1,13 |
| BlackRock, Inc. | 5,29 St | ||||||
| DIC Company Limited | 3,04 St | ||||||
| UBS Group AG | 1,44 St | ||||||
| Credit Suisse Group AG | 1,14 St | ||||||
| Morgan Stanley | 0,19 St | ||||||
| Vorstand | 0,03 St | ||||||
| Commerzbank AG | 0,02 St | ||||||
| Aufsichtsrat | 0,01 St | ||||||
| ThyssenKrupp AG | Alfried Krupp von Bohlen und Halbach-Stiftung | 23,03 St | 9,16 | -1,32 | Vanguard Group, Inc., The | 0,95 | |
| Cevian Capital II GP Limited | 15,08 St | ||||||
| Franklin Mutual Advisers, LLC | 4,97 St | ||||||
| BlackRock, Inc. | 4,2 St | ||||||
| VOLKSWAGEN AG | Porsche Automobil Holding SE | 50,73 St | 19,47 | -1,74 | Capital Research and Management Company | 3,52 | |
| Land Niedersachsen | 20 St | ||||||
| Katar Holding | 17 St | ||||||
| TecDAX | |||||||
| ADVA Optical Networking SE | EGORA Holding GmbH | 17,2 St | 12,21 | -0,55 | DeAWM Investment GmbH | 7,76 | |
| Deutsche Asset & Wealth Management Investment GmbH | 7,76 St | ||||||
| DNB Asset Management AS | 5,4 St | ||||||
| Norges Bank (norwegische Zentralbank) | 3,26 St | ||||||
| Dimensional Holdings Inc. | 3 St | ||||||
| NN Investment Partners Belgium S.A. | 2,95 St | ||||||
| FMR LLC | 2,91 St | ||||||
| Brian L. Protiva | 0,82 St | ||||||
| Eric Protiva | 0,66 St | ||||||
| UBS Group AG | 0,15 St | ||||||
| Anthony T. Maher | 0,02 St | ||||||
| AIXTRON SE | 0,98 (St) | Camma B.V. | 6,79 St | 32,17 | -2,61 | Vanguard Group, Inc., The | 3,53 |
| Allianz Global Investors Europe GmbH | 6,04 St | ||||||
| UBS Group AG | 5,35 St | ||||||
| Generation Investment Management LLP | 5,16 St | ||||||
| Baillie Gifford & Co. | 4,62 St | ||||||
| Vanguard Group Inc. | 3 St | ||||||
| BlackRock, Inc. | 2,96 St | ||||||
| NN Group N.V. | 2,93 St | ||||||
| Credit Suisse Group AG | 1,11 St | ||||||
| The Goldman Sachs Group, Inc. | 0,05 St | ||||||
| Bechtle AG | Karin Schick | 35,02 St | 26,86 | -0,64 | Flossbach von Storch AG | 9,61 | |
| Flossbach von Storch Invest S.A. | 10,07 St | ||||||
| Allianz Global Investors GmbH | 4,92 St | ||||||
| Norges Bank (norwegische Zentralbank) | 2,99 St | ||||||
| Alceda Fund Management SA | 2,93 St | ||||||
| Deutsche Asset & Wealth Management Investment GmbH | 2,86 St | ||||||
| Jürgen Schäfer | 0,02 St | ||||||
| CANCOM SE | Allianz Global Investors Europe GmbH | 9,93 St | 22,19 | -2,19 | Threadneedle Asset Management Limited | 3,19 | |
| Ameriprise Financial, Inc. | 5,04 St | ||||||
| Allianz Global Investors Luxembourg S.A. | 4,78 St | ||||||
| Denver Investment Advisors LLC | 3 St | ||||||
| Astellon Capital Partners LLP | 2,46 St | ||||||
| UBS Group AG | 2,31 St | ||||||
| Klaus Weinmann | 0,89 St | ||||||
| Source Markets plc | 0,8 St | ||||||
| Dominik Eberle | 0,07 St | ||||||
| Carl Zeiss Meditec AG | Carl Zeiss AG | 65,05 St | 11,44 | -0,58 | Oddo Asset Management | 2,14 | |
| ODDO ET CIE | 2,99 St | ||||||
| CompuGROUP Medical AG | 6,57 (St) | Frank Gotthardt | 33,65 St | 17,24 | -1,51 | Fidelity Managem.& Research Co. | 5,41 |
| Dr. Daniel Gotthardt | 6,71 St | ||||||
| Dr. Brigitte Gotthardt | 6,35 St | ||||||
| Fidelity Management & Research Company (FMR) | 5,66 St | ||||||
| FMR LLC | 5,09 St | ||||||
| Dr. Reinhard Koop | 3,86 St | ||||||
| Armor Advisors, LLC | 2,99 St | ||||||
| OppenheimerFunds, Inc. | 2,96 St | ||||||
| Massachusetts Mutual Life Insurance Company | 2,95 St | ||||||
| Dialog Semiconductor PLC | 3,96 (St) | The Bank of New York Mellon SA/NV | 12,42 St | 29,06 | -0,45 | CI Investments Inc. | 4,01 |
| Citigroup Global Markets | 9,44 St | ||||||
| State Street | 5,92 St | ||||||
| Robert Citrone | 4,68 St | ||||||
| Clearstream Banking S.A. | 4,25 St | ||||||
| Chase Nominees Ltd | 4,1 St | ||||||
| BNP Paribas Securities Services | 4 St | ||||||
| Nortrust Nominees Limited | 3,79 St | ||||||
| Waddell and Reed Financial Inc. | 3,5 St | ||||||
| CACEIS Bank Deutschland | 3,21 St | ||||||
| Kleinwort Benson (Jersey) Trustees Limited as Trustee of the Dialog Semiconductor plc Employee Benefit Trust | 2,98 St | ||||||
| RBC Investor Services Trust | 2,9 St | ||||||
| Black Creek Investment Management Inc. | 2,68 St | ||||||
| Deutsche Bank AG | 2,51 St | ||||||
| Drillisch AG | Ralph Dommermuth | 20,11 St | 27,11 | 1,12 | Union Investment Privatfonds GmbH | 5,37 | |
| Alken Luxembourg S.A. | 5,13 St | ||||||
| Allianz Global Investors Europe GmbH | 5 St | ||||||
| Union Investment Privatfonds GmbH | 2,89 St | ||||||
| FMR LLC | 2,84 St | ||||||
| Deutsche Bank AG | 2,28 St | ||||||
| Marc Brucherseifer | 1,97 St | ||||||
| Mellon Capital Management Corporation | 1,72 St | ||||||
| Paschalis Choulidis | 0,78 St | ||||||
| Vlasios Choulidis | 0,73 St | ||||||
| Johann Weindl | 0,02 St | ||||||
| Dr. Horst Lennertz | 0 St | ||||||
| Drägerwerk AG & Co. KGaA | Familie Dräger | 71,42 St | 33,70 | -0,71 | Templeton Investment Counsel LLC | 2,66 | |
| Norges Bank (norwegische Zentralbank) | 3,27 St | ||||||
| SICAV Objectif Small Caps Euro | 3,19 St | ||||||
| Lazard Frères Gestion S.A.S. | 3,04 St | ||||||
| Oddo Asset Management | 2,97 St | ||||||
| Dräger Stiftung | 0,12 St | ||||||
| Evotec AG | Roland Oetker | 13,23 St | 8,95 | -0,80 | DeAWM Investment GmbH | 2,42 | |
| BVF Inc. | 12,57 St | ||||||
| TVM V Life Science Management GmbH & Co. KG | 5,37 St | ||||||
| Allianz Global Investors GmbH | 3 St | ||||||
| Dr. Werner Lanthaler | 0,4 St | ||||||
| Dr. Mario Polywka | 0,05 St | ||||||
| Mary C. Tanner | 0,05 St | ||||||
| Dr. Walter Wenninger | 0,03 St | ||||||
| Dr. Cord Dohrmann | 0,03 St | ||||||
| Morgan Stanley | 0 St | ||||||
| freenet AG | Allianz Global Investors GmbH | 5,16 St | 38,06 | -1,10 | DeAWM Investment GmbH | 6,06 | |
| Deutsche Asset & Wealth Management Investment GmbH | 4,65 St | ||||||
| The Capital Group Companies Inc. | 3,7 St | ||||||
| BlackRock, Inc. | 3,08 St | ||||||
| J.P. Morgan Investment Management Inc | 2,98 St | ||||||
| Norges Bank (norwegische Zentralbank) | 2,82 St | ||||||
| UBS Group AG | 2,65 St | ||||||
| Flossbach von Storch SICAV | 2,63 St | ||||||
| GFT Technologies SE | Ulrich Dietz | 28,08 St | 9,59 | 0,26 | DFA Invest Dimensions Gr. Inc. | 1,68 | |
| Maria Dietz | 9,68 St | ||||||
| Dr. Markus Kerber | 4,99 St | ||||||
| Baden-Württembergische Versorgungsanstalt für Ärzte, Zahnärzte und Tierärzte | 2,99 St | ||||||
| JPMorgan Asset Management (UK) Limited | 2,99 St | ||||||
| Fidelity Funds SICAV | 2,91 St | ||||||
| Dr. Jochen Ruetz | 0,38 St | ||||||
| Marika Lulay | 0,14 St | ||||||
| Andreas Bernhardt | 0,1 St | ||||||
| JENOPTIK AG | Thüringer Industriebeteiligungs GmbH & Co. KG | 11 St | 27,79 | -0,42 | DeAWM Investment GmbH | 8,02 | |
| Deutsche Asset & Wealth Management Investment GmbH | 5,2 St | ||||||
| ODDO ET CIE | 3,03 St | ||||||
| Dimensional Fund Advisors LP | 3,01 St | ||||||
| Norges Bank (norwegische Zentralbank) | 2,63 St | ||||||
| Source Markets plc | 0,25 St | ||||||
| LPKF Laser & Electronics AG | Lazard Frères Gestion S.A.S. | 5,65 St | 17,81 | -2,86 | Wasatch Funds, Inc. | 2,97 | |
| Allianz Global Investors Europe GmbH | 3,32 St | ||||||
| Rock Point Advisors LLC | 3,04 St | ||||||
| Andrew Gibbs | 3,01 St | ||||||
| Deutsche Asset & Wealth Management Investment GmbH | 2,92 St | ||||||
| WA Holdings, Inc. | 2,89 St | ||||||
| Henderson Global Investors Limited | 2,72 St | ||||||
| Bernd Hackmann | 0,56 St | ||||||
| Dr. Ingo Bretthauer | 0,25 St | ||||||
| Bernd Lange | 0,11 St | ||||||
| Kai Bentz | 0,07 St | ||||||
| Societe Generale S.A. | 0,07 St | ||||||
| Dr. Heino Büsching | 0,04 St | ||||||
| Prof. Dr. Erich Barke | 0,01 St | ||||||
| Manz AG | Dieter Manz | 35,2 St | 12,41 | -0,20 | DFA Invest Dimensions Gr. Inc. | 1,18 | |
| Ulrike Manz | 3,8 St | ||||||
| Otto Angerhofer | 2,77 St | ||||||
| AXA S.A. | 2,65 St | ||||||
| ETHENEA Independent Investment S.A. | 2,4 St | ||||||
| Union Investment Privatfonds GmbH | 2,1 St | ||||||
| MorphoSys AG | 2,04 (St) | Flossbach von Storch Invest S.A. | 5,78 St | 29,01 | 0,02 | OppenheimerFunds, Inc. | 4,39 |
| Novartis Pharma AG | 5,56 St | ||||||
| Templeton Global Advisors Limited | 3,1 St | ||||||
| Celgene Alpine Investment Co., LLC | 3,01 St | ||||||
| Credit Suisse Fund Management S.A | 2,95 St | ||||||
| BlackRock, Inc. | 2,95 St | ||||||
| Perceptive Life Sciences Master Fund, Ltd. | 2,94 St | ||||||
| AVIVA plc | 2,78 St | ||||||
| Invesco Advisers, Inc. | 2,65 St | ||||||
| Dr. Simon Moroney | 1,8 St | ||||||
| Dr. Marlies Sproll | 0,14 St | ||||||
| Vorstand und Aufsichtsrat | 0,08 St | ||||||
| Nemetschek AG | Prof. Georg Nemetschek | 53,57 St | 4,67 | -0,42 | Union Investment Privatfonds GmbH | 0,73 | |
| Capital Research and Management Company | 3,12 St | ||||||
| Union Investment Privatfonds GmbH | 3,05 St | ||||||
| Universal-Investment-Gesellschaft mbH | 2,95 St | ||||||
| Allianz SE | 0,96 St | ||||||
| Nordex SE | SKion/momentum capital/Klatten | 22,85 St | 14,86 | -0,20 | DeAWM Investment GmbH | 2,89 | |
| JPMorgan Chase Bank | 5,02 St | ||||||
| Deutsche Bank AG | 4,83 St | ||||||
| Norges Bank (norwegische Zentralbank) | 2,95 St | ||||||
| Societe Generale S.A. | 0,13 St | ||||||
| Dr. Wolfgang Ziebart | 0,01 St | ||||||
| UniCredit Bank AG | 0,01 St | ||||||
| Pfeiffer Vacuum Technology AG | Privataktionäre | 4,9 St | 47,58 | 0,30 | Parvest Investment Management Company S.A. | 3,45 | |
| Hakuto - Handelsvertretung | 3,48 St | ||||||
| Allianz Global Investors Europe GmbH | 3,08 St | ||||||
| Credit Suisse Group AG | 2,98 St | ||||||
| Sun Life Financial Inc. | 2,96 St | ||||||
| Montanaro Asset Management Ltd | 2,94 St | ||||||
| Capital Research and Management Company | 2,68 St | ||||||
| Ameriprise Financial, Inc. | 2,53 St | ||||||
| BNP Paribas Investment Partners S.A. | 2,28 St | ||||||
| Henderson Global Investors Limited | 1,97 St | ||||||
| Mitglieder von Vorstand und Aufsichtsrat | 0,06 St | ||||||
| QIAGEN N.V. | 3,21 (St) | PRIMECAP Management Company | 9,21 St | 19,09 | -0,54 | Franklin Templeton Investments | 2,99 |
| BlackRock, Inc. | 7,31 St | ||||||
| Templeton Investment Counsel, LLC | 5,75 St | ||||||
| Platinum Investment Management Limited | 2,99 St | ||||||
| Manning & Napier Advisors, LLC | 2,89 St | ||||||
| Generation Investment Management LLP | 2,88 St | ||||||
| Baillie Gifford & Co. | 2,43 St | ||||||
| UBS Group AG | 2,2 St | ||||||
| Harding Loevner LLC | 2,18 St | ||||||
| Norges Bank (norwegische Zentralbank) | 2,07 St | ||||||
| Amundi Group | 2,03 St | ||||||
| Dr. Metin Colpan | 1,52 St | ||||||
| Peer M. Schatz | 0,82 St | ||||||
| Prof. Dr. Detlev H. Riesner | 0,61 St | ||||||
| Deutsche Bank AG | 0,27 St | ||||||
| QSC AG | Gerd Eickers | 12,55 St | 22,71 | 0,02 | Kempen Capital Management NV | 10,17 | |
| Dr. Bernd Schlobohm | 12,5 St | ||||||
| J O Hambro Capital Management Limited | 5,19 St | ||||||
| Kempen European Participations N.V. | 5,09 St | ||||||
| Credit Suisse Fund Management S.A | 2,98 St | ||||||
| Allianz Global Investors Europe GmbH | 2,96 St | ||||||
| Jürgen Hermann | 0,27 St | ||||||
| Dr. Frank Zurlino | 0,01 St | ||||||
| Barbara Stolz | 0,01 St | ||||||
| Stefan A. Baustert | 0,01 St | ||||||
| RIB Software AG | 2,89 (St) | Thomas Wolf | 20,08 St | 29,13 | 1,69 | Capital Research and Management Company | 7,31 |
| Capital Group Companies Inc. | 6,4 St | ||||||
| Hans-Joachim Sander | 4,58 St | ||||||
| SAP AG | 4,28 St | ||||||
| Lagoda Investment Management LLC | 3,19 St | ||||||
| Schroders Investment Management | 3 St | ||||||
| Henderson Global Investors Limited | 2,97 St | ||||||
| Invesco Ltd. | 2,95 St | ||||||
| FIL Investments International | 2,88 St | ||||||
| UBS Global Asset Management GmbH | 1,95 St | ||||||
| Credit Suisse Group AG | 1,42 St | ||||||
| Michael Sauer | 0,9 St | ||||||
| Sartorius AG | 8,89 (St) | Erbengemeinschaft nach Horst Sartorius | 50,1 St | 24,89 | -0,89 | Vanguard Group, Inc., The | 2,65 |
| 8,98 (Vz) | Bio-Rad Laboratories Inc. | 30,01 St | |||||
| Familienbesitz | 5 St | ||||||
| SMA Solar Technology AG | Pool SMA Solar Technology AG | 25,2 St | 7,77 | -0,03 | Vanguard Group, Inc., The | 2,51 | |
| Danfoss A/S | 20 St | ||||||
| Peter Drews | 4,76 St | ||||||
| Reiner Wettlaufer | 4,76 St | ||||||
| Irene Cramer | 4,75 St | ||||||
| Prof. Dr. Werner Kleinkauf | 4,39 St | ||||||
| Software AG | 0,10 (St) | Software AG Stiftung | 31,59 St | 21,41 | 0,15 | Shareholder Value Management AG | 2,31 |
| FMR LLC | 3,8 St | ||||||
| Remo Stoffel | 3,66 St | ||||||
| Templeton Investment Counsel, LLC | 3,29 St | ||||||
| Deutsche Asset & Wealth Management Investment GmbH | 3,26 St | ||||||
| Universal-Investment-Gesellschaft mbH | 3,22 St | ||||||
| Deka Investment GmbH | 3,16 St | ||||||
| Norges Bank (norwegische Zentralbank) | 2,97 St | ||||||
| Shareholder Value Beteiligungen AG | 2,3 St | ||||||
| STRATEC Biomedical AG | 0,10 (St) | Herdor GmbH & Co. KG | 9,65 St | 25,76 | -1,79 | Montanaro Asset Management Limited | 6,51 |
| Ralf Leistner | 9,53 St | ||||||
| Bettina Siegle | 9,48 St | ||||||
| Tanja van Dinter | 9,33 St | ||||||
| Ameriprise Financial, Inc. | 4,98 St | ||||||
| Montanaro Asset Management Ltd | 4,76 St | ||||||
| BNP Paribas Investment Partners S.A. | 3,05 St | ||||||
| Financière de l'Echiquier | 2,95 St | ||||||
| Hermann Leistner | 0,38 St | ||||||
| Doris Leistner | 0,34 St | ||||||
| Allianz Global Investors Europe GmbH | 0,33 St | ||||||
| Telefónica Deutschland Holding AG | Telefónica Germany Holdings Limited | 62,1 St | 3,12 | -0,03 | T. Rowe Price Investment Services Inc. | 0,70 | |
| Citigroup Inc. | 0,42 St | ||||||
| UBS AG | 0,21 St | ||||||
| Bank of America Corporation | 0,02 St | ||||||
| Morgan Stanley | 0 St | ||||||
| HSBC Holdings plc | 0 St | ||||||
| United Internet AG | 0,47 (St) | Ralph Dommermuth | 40 St | 14,38 | -1,07 | OppenheimerFunds, Inc. | 2,49 |
| BlackRock, Inc. | 4,94 St | ||||||
| Allianz Global Investors Europe GmbH | 3 St | ||||||
| Deutsche Asset & Wealth Management Investment GmbH | 2,84 St | ||||||
| Norbert Lang | 0,22 St | ||||||
| Michael Scheeren | 0,15 St | ||||||
| Robert Nikolaus Hoffmann | 0,05 St | ||||||
| Wirecard AG | MB Beteiligungsgesellschaft mbH | 6,4 St | 45,09 | 0,13 | Jupiter Unit Trust Managers Limited | 5,13 | |
| Jupiter Asset Management Limited | 6,27 St | ||||||
| Alken Luxembourg S.A. | 4,94 St | ||||||
| T. Rowe Price Group, Inc. | 3,15 St | ||||||
| Select Equity Group, L.P. | 3,09 St | ||||||
| Comgest Global Investors S.A.S. | 3,05 St | ||||||
| Standard Life Investments Limited | 3,03 St | ||||||
| Massachusetts Mutual Life Insurance Company | 2,97 St | ||||||
| The Capital Group Companies Inc. | 2,94 St | ||||||
| Ameriprise Financial, Inc. | 2,39 St | ||||||
| Credit Suisse Group AG | 0,13 St | ||||||
| XING AG | 0,00 (St) | Burda Digital GmbH | 50,26 St | 27,06 | -0,39 | Union Investment Privatfonds GmbH | 6,01 |
| Union Investment Privatfonds GmbH | 4,98 St | ||||||
| Deutsche Asset & Wealth Management Investment GmbH | 4,95 St | ||||||
| Schroders plc | 2,98 St | ||||||
| Schroder Investment Management North America Ltd | 2,95 St | ||||||
M & A
windeln.de: expanding in Western Europe
Shortly after its stock market listing in May 2015, windeln.de Ag, online distributor of products for newborns took over the Spanish mail order shop bebitus Retail S.L. Bebitus markets its products for newborns and toddlers in Spain, Portugal and France and, according to windeln.de, its turnover margin is approximately 7 million Euros, expected to rise to 15 million Euros in 2015. The takeover cost windeln.de some 5 million Euros. Both sides have agreed on further payments up to 2017 pegged to results, made in the form of new shares of windeln.de AG.
This transaction is a further step towards windeln.de developing its standing in the European market. In July, it took over Feedo the east-European mail order distributor presently active in the Czech Republic, Slovakia, Poland and China as well as Germany, Austria and Switzerland. This latest takeover opens doors in the western European markets, among which France in particular stands out for its high birth rates and thus great market potential.
Ströer SE: Acquisitions and a new major shareholder
Strörer SE, the advertising space sales organization is expanding its online German business. The Cologne based company purchased Media, the interactive digital distributor, and T-Online the digital portal from Deutsche Telekom. Ströer is a renowned seller of advertising space near bus-stops, train stations; it also sells the advertising space on billboards in football stadiums.
As payment, Deutsche Telekom gets new shares from an increase in Ströer’s share capital, worth some 300 million Euros, amounting to between 11 and 13 percent of the increased capital. The lock-up period of the new shares is one year, and the transaction should be brought to conclusion in the fourth quarter of the current fiscal year. All that is missing is approval by the monopolies commission. The purchase of the two companies, should raise the profit per share by more than 5 percent from 2016, again based on the increase in capital, and prior to the joining of forces. In so doing, the company expects to create the financial terrain for greater dividends and further wealth-creating investments,.
The purchase of Interactive Media (rated third in the Deutsche Arbeitsgemeinschaft Online Forschung ) Ströer Digital Group expects to give a substantial boost to its leadership of the online sale of advertising space in the German market. For example, Interactive Media manages the websites of "autoscout24.de", "bunte.de" and "kicker online". The second most important offerer on the market is MEdia Impact, a subsidiary of publisher Axel Springer Verlag. T-Online, by contrast is thought of as the company with the most coverage in Germany. Apparently, the previous owner, Deutsche Telekom, had put it up for sale in 2014 deeming its growth potential too small and because of shifts in clients’ user habits after going on line by this portal.
ISRA Vision: Broadening the range of products
Yet another take-over. Machine Vision specialist Isra Vision AG of Darmstadt is forging ahead in its strategy of development and is purchasing Karlsruhe- based Vision Experts GmbH The group’s strategy is to bolster its core business by catering to the needs of the packaging industry. Vision Experts expects to increase its turnover by more than 20 percent to more than 3 million Euros this financial year. According to Isra Systems, the purchase price was calculated on the basis of the turnover for 2014. Integration is expected to reach conclusion over the coming two quarters, at which point the present headquarters of the group will be unified with those of Vision Experts. The new entry is specialised in optical inspection devices for high quality printed products and for printed packaging for metal or pharmaceuticals.