- Increased liquidity with 100% free float
- Year-end price 37% above prior-year level
- Performance in line with MDAX, significantly better than DAX
Positive stock-market environment
2005 was an excellent year for the stock market in Germany. A stable economic environment, companiesÂ’ improved earnings and the relatively low valuation of stocks allowed for high price gains. The German DAX share index climbed to 5,469 at the end of December, its highest level since August 2001, while the MDAX was at an all-time high of 7,342 just before the end of the year.
The year-end rally was preceded by a period of consolidation in October, which was more than compensated for in the following months, however. Compared with the end of the prior year, the DAX rose by 27% and the MDAX by 36%. The European stock market also returned an above-average performance: the EURO STOXX 50 achieved growth of 24%.
Key figures on our shares

Additional data
