At a glance
The performance of our shares was, on the whole, characterized by volatility in 2018: Following a downswing in the first quarter amid a market setting that came under visible pressure, the share price staged a recovery by the year-end. Our share price remained almost unchanged over the previous year at + 0.26%, finishing the year at € 89.98. The shares substantially outperformed the relevant reference indices, which all recorded a downswing during the same period. When compared with the DAX® reference index, which fell by around 18% during the period as a whole, our shares performed just under 19 percentage points better. Their outperformance vis-à-vis the relevant chemical industry index, which fell by almost 16% in 2018, was around 16 percentage points. The pharmaceutical industry index declined by around 3% in 2018, thus underperforming our shares by 3 percentage points in the same period.
In 2018, the Executive Board and the Investor Relations team gave in-depth briefings to more than 660 investors at investor conferences as well as during roadshows and conference calls.
The average daily trading volume of our shares increased by 23% from approximately 474,000 in 2017 to over 584,000 in 2018. The North America region continued to dominate: its proportion of the free float increased to around 36% (2017: 29%). By investor type, growth and value investors dominated, as in the previous year. In 2018, growing interest could be seen among value investors, who now hold approximately 28% of the free float. At the end of 2018, the top five investors held around 28% of the free float (2017: 19%).
Share price development from January 1, 2018 to December 31, 2018
Key share price data1
|Share price high||€||99.82||114.40|
|Share price low||€||74.80||87.90|
|Year-end share price||€||89.98||89.75|
|Daily average number of shares traded3||number||583,653||473,740|
|Market capitalization4 (at year-end)||€ million||39,121||39,021|
|Market value of authorized shares5 (at year-end)||€ million||11,629||11,599|
Identified investors by region as of December 2018
Identified investors by type as of December 2018