Gains in the markets
2013 was a good year on the stock markets. Germany's leading index, the DAX, gained 25.5% over the course of the year, while the leading US index, Dow Jones, increased by 26.5%. After a moderate state and lasting sideways movement to mid-April, the DAX moved into an uptrend with only brief interruptions to the end of the year. Progress in overcoming the eurocrisis and the European Central Bank's announcements of its intention to continue its low interest rate policy encouraged stock market trading. In addition, the positive trend in the second half of 2013 benefited from the economy's performance, which was better than originally expected.
FP shares gain 66.8 %
The price of FP shares also developed positively in 2013. After opening the previous year at EUR 2.50, FP shares followed the market as a whole, dropping slightly to the year's low of EUR 2.20 at end-March before gaining steadily until they reached a high for the year at EUR 4.50 in mid-October. This was followed by
a sideways drift until the end of the year, when they were listed at EUR 4.17.
Overall, FP shares gained 66.8% in 2013, significantly outperforming an important benchmark, as the German small-cap index SDAX advanced only 29.3% in the same period. On average, around 62,000 shares changed hands each trading day on Xetra in 2013. The highest number of FP shares traded on a single day was around 566,000. Compared to the previous year, the trading volume for FP shares increased by around 20,000 shares per day.
Growing interest in a broad shareholder structure
The rise in trading volume indicates growing investor interest in FP shares. As at 31 December 2013, 82.4% of the total 16.16 million shares were in free float. 10.3% of the shares were held by 3R Investments, and 5.0% by Eric Spoerndli, a private investor based in Switzerland. 2.3% of FP shares were held by the company itself. These 370,444 FP shares will be used to exercise the stock options issued to executives in accordance with the resolution of the Annual General Meeting on 1 July 2010.
Of the free float, notifications received as at 31 December 2013 showed the following investors:
– Saltarax GmbH, Germany (3.59%)
– Ludic GmbH, Germany (3.51%)
– Hansainvest, Hamburg (3.39%)
– Internationale Kapitalanlagesellschaft mbH, Germany (3.3%),
– ARGOS Funds SICAV, Luxembourg (3.1%),
– Alceda Fund Management SA, Luxembourg (3.1%),
– Scherzer & Co. AG, Cologne (3.0%)
– and Rudolf Heil, Germany (3.0%).
At the start of the financial year 2014, Internationale Kapitalanlagesellschaft mbH announced that they had dropped below the threshold of 3%. According to the notification of 21 January 2014, they still held 2.9% of FP shares. The ARGOS Funds SICAV also reported on 3 April 2014 that they had exceeded the 5% threshold. They now hold 5.2% of the voting rights in Francotyp-Postalia Holding AG. At this point in time, the largest shareholder in the FP Group is 3R Investments. In March 2012, the investment company fully subscribed a capital increase by the company in the context of a private placement. To this end, the company issued 1,460,000 new bearer shares, each representing EUR 1 of the share capital. Since this time, 3R Investments had held 9.0% of all issued FP shares, before increasing its shareholding shortly before the end of the year to 10.3%. On 18 January 2013, the company informed FP that it was acquiring voting rights for the purposes of longer-term investment and implementing strategic goals.
Enhanced dialogue with investors
The corporate strategy of the FP Group is geared towards a sustainable increase in value. Continuous, open and transparent communication with all capital market participants is therefore very important. The Management Board and the Investor Relations team also use one-on-one meetings, investor conferences and roadshows to explain the company's business model and to highlight the Group's potential. The financial institutes Hauck & Aufhäuser and Warburg Research both publish regular studies on the company. At the end of 2013, both institutes recommended buying FP shares.
Direct contact with these analysts and with investors and banks is of great importance to the Management Board. To this end, the company's financial calendar always includes the German Equity Forum in Frankfurt, Europe's most important platform for equity capital finance for medium-sized companies. There were also events and roadshows in 2014 in Zurich, Munich, Stuttgart, Frankfurt and Hamburg. Following the publication of the quarterly figures, the Management Board holds conference calls to present the development of the business and answer questions from analysts and investors directly.
One central event among the IR activities is the Investors' Day. The Management Board used Investors' Day in Birkenwerder on 23 May 2013 to give a presentation
of the strategic development of FP and the associated measures planned, specifically the achievement of important strategic milestones. As in the past, this day was utilised by numerous investors for personal and indepth discussions with the Management Board.
The FP Group's Annual General Meeting in Berlin on 27 June 2013 was also an important platform for direct dialogue with shareholders. Around 54% of the share
capital with voting rights was represented at the Annual General Meeting. The company's website and especially the Investor Relations area are a central point of contact for all shareholders. At www.fp-francotyp.com, visitors will find comprehensive background information about the company as well as all relevant publications, such as annual and quarterly reports, financial presentations, ad-hoc disclosures, notifications of voting rights and director's dealings, and press releases.
The Investor Relations team is available for further information by e-mail (email@example.com) or phone at +49 3303 525-410.
Extending IR activities on social networks
The company is increasingly using social networks to engage in open and transparent dialogue with stakeholders. In the last year, the FP Group has unified and stepped up its presence on Facebook and Twitter. IR is also involved in close dialogue with interested parties on platforms such as Ariva or wallstreet-online.