Share Performance

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The Bechtle share could not evade this trend and largely reflected the development of the TecDAX.

Share performance does not reflect company performance

On 2 January, the share entered the trading year with a price of 27.00 euros and reached its annual high on the same day, with a closing price of 27.86 euros. Subsequently, the price started to drop, eventually settling at about 19 euros. From March to September, Bechtle continued at this level. In early September, the effects of the financial crisis became more evident, dragging the Bechtle share down to the annual low of 9.64 euros, which was reached on 27 October. Until the end of the year, the share recovered slightly, closing at 13.66 euros on 30 December. In the reporting period, the Bechtle share lost a total of 49.4 per cent, echoing the situation of the TecDAX.

the bechtle share in comparison to Tecdax January 2008 until February 2009 (Graphic)

In line with the price development, the market cap, too, was halved from 581.3 million euros to 289.6 million euros. In relation to the free float, the market cap declined from 287.7 million euros to 140.5 million euros.

In the reporting period, the liquidity of the Bechtle share was about the same as in the prior year. At all German stock exchanges, 69,743 shares were traded per trading day; in the prior year, this figure was 71,856.

As the performance of the Bechtle share mostly ran parallel to the market, it was able to climb up in the index ranking of the TecDAX as of 31 December 2008 compared to the prior year – despite the reduced market cap. Thus, Bechtle progressed from the 25th to the 22nd place. Bechtle was also able to improve its trading volume – the second key criterion – progressing to the 23rd place as of the end of the year (prior year: 28th place). Here, the stabilisation of the liquidity had a positive effect in an environment characterised by a generally weak demand.


        2008   2007
Annual opening price   euros   27.00   19.30
Annual closing price   euros   13.66   27.42
Annual high   euros   27.86   35.59
Annual low   euros   9.64   19.45
Performance compared to prior year - absolute   euros   - 13.34   8.12
Performance compared to prior year - in per cent   %   - 49.4   42.1
Market cap - total1   million euros   289.6   581.3
Market cap - free float weighted 1   million euros   140.5   287.7
Average turnover/trading day 2   shares   69,743   71,856
Average turnover/trading day 2   euros   1,228,978   1,953,582
1 As of 31 December
2 All German stock exchanges