Heidelberg Share - Comment on Chart Development

Whereas Germany's two most important share indices - the DAX and the MDAX - posted slight price increases, respectively, of approximately 5 percent and 6 percent during the first quarterly reporting period in 2011, a strong bearish tendency set in at the onset of the second reporting quarter. The debt crises in Europe and the US and the related uncertainty of investors led to considerable turbulence on the stock markets during the second reporting quarter, with the DAX declining by 25 percent and the MDAX by approximately 24 percent. The DAX suffered its biggest losses in nine years during the period July to September 2011, closing at 5,502 points on September 30, 2011. This downswing in the markets had an impact on the Heidelberg share, which again suffered a price adjustment of approximately 37 percent. The Heidelberg share closed at € 1.57 on September 30, 2011 and thereby recovered from the share's previous all-time low of € 1.23 that had been posted at the beginning of September.

As at: November 2011