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Key indicators

Key Indicators
Unit  2014 2015
High Euro 43.86 41.48
Low Euro  30.31 30.00
Close Euro 34.00 30.90
Average daily volume of shares No. 8 092 9 912
Number of no-par shares (weighted) 36,503,896 36,503,896
Number of no-par shares at 31.12. 36,503,896 36,503,896
Market capitalization at 31.12.  Euro bn 1,24 1,13
Rank in SDAX by trading volume 44 49
Rank in SDAX by market capitalization 10 24
Dividend per share, in Euro 0.65 0.65
Dividend sum Euro m 23.7 23.7
Earnings per share Euro 0.16 1.01
1.79 1) 2.09 1)
 
Index
SDAX
Ticker GFK
ISIN DE0005875306
German securities code 587530
Currency EUR
Type ordinary shares / shares of no par value
Placement price 2) 15.42
First quotation on 23.9.99 2) 16.67
Designated Sponsors Cheuvreux

ICF Wertpapierhandel

1) Without goodwill effect
2) After capital increase from company funds effective as of July 21th 2004 (Ratio 5:1)

Analyst ratings

GfK is monitored by numerous national and international financial analysts, who provide their own research analyses and earnings estimates in respect of the company.

The following table contains banks and analysts with existing recommendations. On this page we also provide you with the analyst consensus for the current financial year.

The consensus will be updated quarterly. The published information is not exhaustive.

Analyst Consensus 2016

Bank
Analyst Date Recommendation
Kepler Cheuvreux (France) Craig Abbott 29.08.2016 Reduce
LBBW Jürgen Graf 15.08.2016 Hold
Commerzbank Sonia Rabussier 05.08.2016 Hold
HSBC (Germany) Olivier Moral 30.08.2016Hold
Deutsche Bank Benjamin Kohnke 29.08.2016 Hold
NATIXIS Securities (France) Pavel Govciyan 16.08.2016 Buy
Citigroup (USA) Catherine O'Neill 12.08.2016 Neutral
Tom Singlehurst
Societe Generale (France) Laurent Picard 15.08.2016 Hold
Hauck & Aufhäuser (Germany) Christian Schwenkenbecher 12.08.2016 Buy
Bankhaus  Lampe (Germany) Christoph Schlienkamp   25.08.2016 Hold
Exane BNP Paribas (France) Jean-Christophe Liaubet 19.08.2016 Neutral

Dividend development

At the Annual General Meeting on May 28, 2015, the Supervisory Board and Management Board of GfK SE decided on a dividend pay-out of EUR 0.65 per share for the 2014 financial year. A graphic with the dividend development is available to download.

Dividend development

Dividend development since IPO

YearDividend per non-par share in EURTotal income in EUR millionTotal dividend payout in EUR millionPay out ratio in % (1)
20150.65*40.723.729.6e
20140.6519.423.730.1
20130.65-42.123.732.7 (3)
20120.6564.423.737.0
20110.6588.123.726.9
20100.4884.017.420.7
20090.3060.510.817.9
20080.4682.016.520.1
20070.4578.9 (2)16.120.4
20060.3671.212.817.9
20050.3367.511.617.2
20040.3053.19.417.7
20030.2133.16.519.5
20020.1725.75.220.2
20010.14-4.74.4---
20000.1322.93.917.0
19990.118.73.439.1

* proposed
(1) Total dividend in relation to total income, rounded
(2) Adjusted by the effects of the settlement with UBM
(3) Ratio w/o Goodwill Impairment

Shareholder structure

With a 56.5% stake, the GfK Verein ('Association') is the largest single shareholder. The free float is 43.5%. At country level, 4.9 of GfK free float is located in Germany, around 8 percent in the USA and 20 percent in the UK, followed by France. 

Shareholder structure (2016)

Majority shareholder: GfK Verein

The GfK Verein was established in 1934, primarily to “allow the voice of the consumer to be heard”. Consequently, the purpose of the Verein since its inception has been to promote market research.

Today, the GfK Verein is a market research think tank acknowledged by those in both scientific circles and engaged in practical application. Its remit as a not-for-profit organization is to create and pass on knowledge. You can find out more about GfK Verein, the majority shareholder of GfK SE, on their website.

Initial public offering

After its was founded in 1934, GfK grew rapidly and came to the point where organizational change was needed, to give structure to the expanding organization.

By 1984, the market research operation within GfK had detached from the rest of the organization and became a new limited liability company, GfK GmbH. The intention was eventually to become a joint stock company, but, at this time, it was quicker to form a limited company first.

On 23 January 1990, GfK GmbH achieved its aim to become a joint stock company, GfK SE. And, in 1995, the Supervisory Board set it on the path towards a stock exchange launch.

In 1998, Klaus L. Wübbenhorst took on the role of Management Board spokesman and then CEO. It was under his leadership that the final stages of preparation for a stock exchange launch were reached.

On 23 September 1999 at 9:09 a.m., GfK shares were listed on the Frankfurt Stock Exchange for the first time. It was launched a price of EUR 20.00 per share, which was EUR 1.50 more than the subscription price. In the words of the CEO, a "new era" had begun for GfK, with the stock exchange launch coming just in time for the new millennium and laying a path for the company to achieve its ambitious aims. Since then, much has happened.

Important facts and figures about the IPO

Security Identification Number587 530
Identification codeGFK
Classno-par ordinary shares
SegmentOfficial Trading
Frankfurt Stock Exchange
ConsortiumDeutsche Bank (Lead)
Warburg Dillon Read (Lead)
Bayerische Landesbank Girozentrale
Dresdner Bank
SchmidtBank
Issue volume5 million new ordinary shares from capital increase (thereof 652,174 green shoe) and 1,075,883 from shareholders
Placement structurePublic Offering in Germany
Private Placement in Europe
Private Placement in USA
(Rule 144a)
Announcement price range14 September 1999
Book building14 to 21 September 1999
Announcement of placement price22 September
First trading23 September 1999
Former price rangeEuro 15.50 to 18.50
Former placement price (1)Euro 18.50
Former first quote (2)Euro 20.00
Capital stockEuro 66,416,348.16
(25,943,886 ordinary shares)
Common stockEuro 66,416,348.16
Entitlement to dividendFully entitled
Shareholder structure after IPOGfK-Nürnberg e.V. 63.8%
ATAG 2.3%
Management 10.6%
Free float 23.3%

(1) Adjusted placement price after capital transactions 15.41
(2) Adjusted first quote after capital transactions 16.66

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