One year after returning to the stock exchange premier league, the international automotive supplier, tire manufacturer and industrial partner Continental can look back on an overwhelmingly positive comeback. The shares of the DAX founding member have since increased by more than 54% to €125.55 and even recorded an all-time high of €127.45. After joining in 22nd position for market capitalization, the company moved up to 19th place thanks to strong share performance. "In the past twelve months, we have profited from good operating developments and also from the brighter outlook for Europe as reflected in trend indicators. At €25.5 billion, we even attained the highest market capitalization in our almost 142-year company history," said Continental's CFO Wolfgang Schäfer.
"This overwhelmingly positive development honors the work of our 175,000 employees. In addition, it demonstrates the trust placed in us by analysts as well as by share and asset investors. This applies to the development of our share prices but also to the successful implementation of our long-term financing strategy in the past four years," added Schäfer.
Following the acquisition of Siemens VDO, Continental strived to achieve a sustained reduction in its financial indebtedness, working to get it down to a normal level in the face of a global economic crisis and changes in its shareholder makeup. "In the past twelve months we have worked on further improving the structure of maturities for our financial debt and on significantly reducing our interest burden. On into the future we shall continue to dedicate ourselves to a trust-anchored relationship with our core banks," declared Schäfer.
The international automotive supplier's stock was first traded on the stock exchange in Hanover in 1873/74. In 1988, the company was then among the founding members of the DAX. Due to insufficiently high market capitalization, it moved to the MDAX in 1996. 2003 saw the first comeback. In December 2008, the fast exit rule put Continental back on the MDAX, again on account of insufficiently high market capitalization.
Four years or so later, at the start of trading on September 24, 2012, the Continental shares were once again being quoted among the highest-selling market-listed German companies. Currently Continental shares are listed on three German stock exchanges: Frankfurt (Prime Standard), Hanover/Hamburg (NISAX), and Stuttgart. Its shares are also traded in the U.S. in the form of a sponsored ADR (American Depositary Receipt) program on the OTC (over the counter) market.
"This overwhelmingly positive development honors the work of our 175,000 employees. In addition, it demonstrates the trust placed in us by analysts as well as by share and asset investors. This applies to the development of our share prices but also to the successful implementation of our long-term financing strategy in the past four years," added Schäfer.
Following the acquisition of Siemens VDO, Continental strived to achieve a sustained reduction in its financial indebtedness, working to get it down to a normal level in the face of a global economic crisis and changes in its shareholder makeup. "In the past twelve months we have worked on further improving the structure of maturities for our financial debt and on significantly reducing our interest burden. On into the future we shall continue to dedicate ourselves to a trust-anchored relationship with our core banks," declared Schäfer.
The international automotive supplier's stock was first traded on the stock exchange in Hanover in 1873/74. In 1988, the company was then among the founding members of the DAX. Due to insufficiently high market capitalization, it moved to the MDAX in 1996. 2003 saw the first comeback. In December 2008, the fast exit rule put Continental back on the MDAX, again on account of insufficiently high market capitalization.
Four years or so later, at the start of trading on September 24, 2012, the Continental shares were once again being quoted among the highest-selling market-listed German companies. Currently Continental shares are listed on three German stock exchanges: Frankfurt (Prime Standard), Hanover/Hamburg (NISAX), and Stuttgart. Its shares are also traded in the U.S. in the form of a sponsored ADR (American Depositary Receipt) program on the OTC (over the counter) market.
