Mercedes 2010 Annual Report Download - page 27

To Our Shareholders | Daimler Shares | 23
15
20
25
30
35
40
12/1011/1010/109/108/107/106/105/104/103/102/101/10
45
50
55
Daimler share price (high/low), 2010
In euros
60
Dow Jones STOXX Auto Index
DAX
Daimler AG
130
120
110
100
90
80
70
140
150
Share price index
12/31/09 2/26/10 4/30/10 6/30/10 8/31/10 10/29/10 12/31/10
160
A long phase of recovery set in after that. Demand for Daimler
shares was boosted by investors’ growing confidence that the
world economy would revive quickly and by a significant increase
in car unit sales. At an analysts’ and investors’ day in Beijing at
the end of May, we explained the strategy of the coming years for
Mercedes-Benz Cars and announced an outlook for a sustained
profitability target of 10% over our business cycle as of the year
2013. This provided further support for our share price. After
very volatile movements during the second quarter, it reached a
high for the first half of 2010 of €44.50 on June 21.
Although the half-year results and the increased earnings guid-
ance confirmed the capital market’s positive expectations for our
stock, its price was reduced by profit-taking as the year pro-
gressed. But a new upswing set in along with the good develop-
ment of business in September. Third-quarter results and the
renewed increase in earnings guidance for full-year 2010 empha-
sized the long-term nature of the recovery.
Following an analysts’ and investors’ day and the presentation
of the mid-term outlook for Daimler’s commercial-vehicles business
at our truck plant in Wörth at the end of November, and a gener-
ally positive development of auto stocks, our share price stabilized
at above the €50 mark. On December 10, it reached its high
for the year of €54.87. During the last trading days of the year,
Daimler’s share price came under pressure due to temporary
concerns about the outlook for the Chinese car market for the
year 2011, and closed for the year in Xetra trading at €50.73.
Our market capitalization at the end of 2010 was €54.0 billion.
Over the year as a whole, Daimler’s share price increased by
€13.50 or approximately 36%. With this strong performance,
Daimler shares developed significantly better than the DAX (+16%),
but did not quite match the growth rate of the Dow Jones STOXX
Auto Index (+44%).
Dividend of €1.85 per share. The Board of Management and
the Supervisory Board will propose to the Annual Shareholders’
Meeting that a dividend of €1.85 per share be distributed for the
year 2010. The total dividend payout will amount to €1,971 million.
End of listing on the New York Stock Exchange (NYSE). On
May 14, 2010, Daimler informed the New York Stock Exchange
(NYSE) and the general public of its intention to discontinue the
listing of Daimler shares and of the 8.5% US-dollar bond issued
by Daimler Finance North America LLC and due on January 18,
2031, as well as the related Daimler guarantee, and to apply for
deregistration with the US Securities and Exchange Commission
(SEC). Since the delisting took effect on June 7, 2010 and all
securities were deregistered effective September 7, 2010, we no
longer have any reporting duties pursuant to the US Securities
Exchange Act 1934. The main reason for ending the NYSE listing
and deregistering with the SEC is a significant change in the
behavior of investors, who now trade in Daimler shares primarily
in Germany and on electronic trading platforms. Another reason
was to reduce the complexity of financial reporting as well as
administrative costs and fees. Irrespective of the delisting and
deregistration, Daimler will maintain a high degree of transpar-
ency in its financial reporting and will continue to fulfill the
requirements of international investors.