Mercedes 2009 Annual Report Download - page 58

54
37.23
5,957
2,966
10,428
10,546
236
26.70
4,810
2,451
8,776
8,860
200
+39
+24
+21
+19
+19
+18
Stabilization of world economy leads to positive stock mar-
ket developments. The dramatic price falls on worldwide stock
exchanges that occurred in the year 2008 at first continued at
the beginning of 2009 due to the global financial and economic
crisis. At that time, numerous analysts feared that a lasting
recession might occur. Following the substantial share-price losses
of the year 2008, the main German share index (DAX) fell again
by about a quarter in the first two and a half months of the year
2009.
Sentiment in the global capital markets then began to improve
towards the end of the first quarter of 2009 and share prices start-
ed an upward trend again in March. Many market players began
to assume that the world economy would bottom out during the
year and that a slight recovery would commence in the second
half of 2009. These assessments were increasingly backed up by
the positive development of major economic indicators. More
positive expectations were supported by state economic stimulus
programs and central banks’ policy of reviving credit markets
with the help of historically low interest rates. In this environment,
risk aversion subsided again and investors began to place the
high volumes of available liquidity into equities. Cyclical stocks
benefited in particular from the improving economic outlook.
Shares in automotive and financial companies were especially in
demand and developed better than the market in general after
reaching their lowest levels in March.
In the middle of the year, there were some slight temporary falls
in share prices due to uncertainty about how sustained the eco-
nomic recovery would be. After that, many large investors began
to increase the ratios of equities in their portfolios again during
the third quarter. This led to further significant price gains on the
world’s stock markets, which were then supported by improving
macroeconomic data. At the end of the year, increasing numbers
of market players started to anticipate an early recovery of
com
mercial vehicle markets, providing additional support for the
shares of commercial vehicle manufacturers and thus also of
Daimler AG.
Daimler’s share price up by 39% in 2009. In the generally
negative stock market environment of the first several weeks of
the year 2009, Daimler’s share price came under pressure and
fell to €17.44 at the beginning of March, its lowest level of many
years. However, the share price profited more than the market
in general from the subsequent economic stabilization and stock
market revival. Our half-year results then confirmed the capital
market’s assessment that the savings actions we had initiated
were having positive effects and that the Group was on its way
back into the profit zone. Our third-quarter results were a positive
surprise for many market players, in terms of both earnings and
the free cash flow of the industrial business. Daimler’s share price
reached a new high for the year of €37.62 on the day the prelim-
inary Q3 results were disclosed. Following a brief period of general
stock-market consolidation, our share price rose again to its peak
for 2009 of €37.65 shortly before the end of the year.
Daimler Shares. Financial and economic crisis causes high volatility
in capital markets. Above-average development of Daimler’s share
price after low for the year in March. Aabar Investments becomes new
major shareholder. Comprehensive investor relations activities.
% change
09/08
End of 2008
Development of Daimler’s share price and major indices
End of 2009
Daimler’s share price (in €)
DAX 30
Dow Jones Euro STOXX 50
Dow Jones Industrial Average
Nikkei
Dow Jones STOXX Auto Index
(2.63)
(2.63)
0.00
29.99
37.23
37.65
17.44
% change
.
.
.
-12
+39
-42
-10
09/08
1.41
1.40
0.60
33.93
26.70
64.68
19.35
20082009
Key figures per share
Net profit (loss), (basic)
Net profit (loss), (diluted)
Dividend
Shareholders’ Equity (Dec. 31)
Xetra share price: year-end1
Highest 1
Lowest 1
1 Closing prices
Amounts in €