At 53 billion euros, the 40 DAX companies are likely to pay out almost one billion euros more this year than a year ago - more than ever before.

The reason for the strong development is high consolidated profits and unexpectedly rising dividends at a good dozen companies, including $ALV (-8.43%) Allianz, $MUV2 (-6.68%) Munich Re and $RHM (-10.98%) Rheinmetall.

At 109 billion euros net profit, the DAX companies are likely to have earned as much in 2024 as in the previous year, according to Handelsblatt calculations. Slump in earnings for the three car manufacturers $BMW (-5.51%) BMW, $MBG (-5.9%) Mercedes and $VOW (-3.61%) VW will be offset by companies in other sectors, in particular the major insurers Allianz, Munich Re and $HNR1 (-5.85%) Hannover Re, but also $DTE (-4.46%) Deutsche Telekom, $HEN (-3.1%) Henkel and $EOAN (-6.15%) Eon.

More than a dozen DAX companies have announced higher dividends than the market had previously expected. For example $ALV (-8.43%) 15.40 euros per share after 13.80 euros in the previous year. Analysts had forecast just under 15 euros. The insurer is thus distributing just under six billion euros. This is a record in the German corporate landscape.

The biggest jump is at $MUV2 (-6.68%) Munich Re: The reinsurer is increasing its dividend by five euros per share to 20 euros.

The two healthcare specialists $FRE (-4.88%) Fresenius and $FME (-6.55%) Fresenius Medical Care, the brand manufacturer $HEN (-3.1%) Henkel, the automotive supplier $BTR Continental, the $CBK (-6.01%) Commerzbank, $RHM (-10.98%) Rheinmetall and $HNR1 (-5.85%) Hannover Re have raised their dividends, in some cases significantly more than expected. This is also due to rising profits, which justify a higher profit share for shareholders.

The largest dividend payers in the DAX are

• $ALV (-8.43%)
• 
  $DTE (-4.46%)
• 
  $MBG (-5.9%)
• 
  $SIE (-7.45%)
• 
  $VOW (-3.61%)

Like the car manufacturers, a number of companies in the DAX remain below the usual international payout ratios, including the family-run groups $BEI (-0.89%) Beiersdorf and $MRK (-5.28%) Merck. They pass on less than 30 percent of their profits. This leaves enough of a buffer so that dividends do not have to be reduced immediately in more difficult times.

Germany's most valuable group, $SAP (-5.31%) SAP, with a payout ratio of 85%, is pushing the limit: net profit of 3.1 billion euros in the past year compares with a total dividend payout of 2.7 billion euros. However, the profit was burdened by a one-off effect.

So far, a total of 20 companies have increased their dividends, with only $BAS (-5%) BASF and the three car manufacturers. Four companies have yet to do so: $RWE (-6.04%) RWE, $SY1 (+0.31%) Symrise and $VNA (-2.32%) Vonovia are likely to increase their dividends, while analysts expect $PAH3 (-3.65%) analysts expect a reduction at Porsche Holding.

Source (excerpt) & chart: Handelsblatt, 15.03.25

Finally sold +-0 after almost a year of holding. Will be shifted into either World or Novo nordisk

After a holding period of more than 1 year, the amount of $PAH3 (-3.65%) into the $VWCE (-5.52%) reallocated.

As much as I love Porsche, I just can't see the stock anymore $PAH3 (-3.65%) and I just don't see any recovery in the near future, so the share has to give way for better ones in order to be able to afford my Porsche in the future :)

DAX reaches new all-time high again 🇩🇪📈💶👑. The left, trade unions and Wahra Sagenknecht would say that the stock market is a casino and a game of chance. Some people just always want to be wrong. Samsung Galaxy Watch 7 Which German shares do you have and how have they performed? #dax
#dax40
$LYY7 (-5.8%)
$SIE (-7.45%)
$ALV (-8.43%)
$SAP (-5.31%)
$VOW (-3.61%)
$BMW (-5.51%)
$P911 (-4.36%)
$RHM (-10.98%)
$ENR (-9.65%)
$AIR (-8.31%)
$DTE (-4.46%)
$DBK (-10%)
$DHL (-6.85%)
$CBK (-6.01%)
$MBG (-5.9%)
$PAH3 (-3.65%)

Bitcoin moves away from record high again + Trump announced that he would no longer back electromobility + DocMorris grows 6.7 percent in 2024 + Ørsted makes value adjustments of over 12 billion in Q4

Bitcoin $BTC (-0.18%)with new ATH

• Bitcoin extended its losses from late Monday trading on Tuesday.
• In the morning, one Bitcoin cost around USD 101,500, having climbed to just under USD 109,400 before Donald Trump's inauguration on Monday morning, setting another record.
• The price then gradually crumbled over the course of the day.
• Bitcoin has risen significantly since Trump's election in November, having previously fluctuated between 50,000 and 70,000 dollars for months.
• Trump promised to loosen the regulations for cryptocurrencies.
• He is also in favor of a national Bitcoin reserve for the USA.
• Overall, Bitcoin has been on an upward trend for two years.
• At the beginning of 2023, one Bitcoin still cost less than 20,000 dollars.

Everyone will be able to buy the car they want

• Trump announced that he would no longer rely on electromobility.
• Everyone will be able to buy the car they want.
• He would save the car industry.
• "We're going to build cars in America again, and we're going to do it at a pace that nobody would have dreamed of just a few years ago," said Trump.
• We are looking into the possibility of equipping some of the originally planned electric models with hybrid or combustion engines in the future," said Lutz Meschke, Porsche's $PAH3 (-3.65%) Chief Financial Officer, told Autocar.
• How will the Tesla $TSLA (-9.97%) share react to this, given that Elon Musk is on its board

DocMorris $DOCM (-3.01%)accelerates Rx growth in the fourth quarter

• All divisions contribute to 2024 sales growth
• OTC sales 2024 increase by 6.7 percent
• New Rx customers quintupled and Rx sales up 16.6 percent in the fourth quarter of 2024
• TeleClinic with profitable doubling of sales in 2024
• Cash position of CHF 95 million at the end of 2024

Ørsted $ORSTED (-7.25%)makes value adjustments of over 12 billion in Q4

• The Danish energy company Ørsted recognized impairment losses of DKK 12.1 billion in the fourth quarter, according to a press release.
• The company cites several reasons for the write-downs, including rising interest rates, a lower valuation of its US portfolio and rising costs for the delivery of the Sunrise Wind project off the East Coast on New York's Long Island.
• "The write-downs announced today, and in particular the ongoing construction challenges, are very disappointing," said CEO Mads Nipper.
• "We remain committed to the US market with its potential for renewables to meet the growing demand for electricity and create thousands of industrial jobs in the US over the long term," he continued.
• The company also reports preliminary ebitda for 2024 of DKK 24.8 billion, excluding new partnerships and termination fees, in line with previous guidance.
• Ørsted will publish its full annual report on February 6.

Tuesday: Stock market dates, economic data, quarterly figures

• ex-dividend of individual stocks
• Colgate-Palmolive USD 0.50

• Quarterly figures / company dates USA / Asia
• 00:30 BHP Group Ltd Production Report 1H
• 22:00 Netflix quarterly figures

• Quarterly figures / Company dates Europe
• 07:00 Docmorris annual turnover
• 17:30 Porsche AG Pre Close Call FY 2024
• 17:45 Alstom Turnover 3Q

• Economic data

08:00 UK: Labor market data January unemployment rate 3 months (ILO) FORECAST: 4.4% previous: 4.3%

11:00 DE: ZEW Economic Sentiment Index January FORECAST: 15.0 points previously: 15.7 points Economic situation FORECAST: -93.0 points previously: -93.1 points

16:15 US: Senate Finance Committee, hearing of Treasury Secretary-designate Bessent

Which German shares did you buy and how did they perform?#dax
#dax40
#deutschland
$SAP (-5.31%)
$RHM (-10.98%)
$MUV2 (-6.68%)
$ALV (-8.43%)
$ADS (-0.23%)
$DE000A0PNN47
$VOW (-3.61%)
$MBG (-5.9%)
$P911 (-4.36%)
$PAH3 (-3.65%)
$BMW (-5.51%)
$DTE (-4.46%)
$DHL (-6.85%)
$DB1 (-7.96%)
$DBK (-10%)
$RHM (-10.98%)
$AIR (-8.31%)
$LYY7 (-5.8%)

Analyst updates, 16.12.

⬆️⬆️⬆️

• JEFFERIES raises the price target for AMAZON from USD 235 to USD 275. Buy. $AMZN (-3.47%)
• CITIGROUP raises the price target for MUNICH RE from EUR 475 to EUR 522. Neutral. $MUV2 (-6.68%)
• BERENBERG raises the price target for RHEINMETALL from EUR 655 to EUR 750. Buy. $RHM (-10.98%)
• WARBURG RESEARCH raises the price target for PORSCHE SE from EUR 36 to EUR 37. Hold. $PAH3 (-3.65%)
• WARBURG RESEARCH raises the price target for HENSOLDT from EUR 40 to EUR 42. Buy. $HAG (-12.95%)
• JEFFERIES raises the target price for SHELL from GBP 31 to GBP 32. Buy. $SHEL (-7.19%)

⬇️⬇️⬇️

• BERNSTEIN lowers the price target for PORSCHE SE from EUR 46 to EUR 42. Market Perform. $PAH3 (-3.65%)
• HSBC downgrades SAP to Hold. Target price EUR 260. $SAP (-5.31%)
• LOOP CAPITAL downgrades NETFLIX to Hold. Target price 950 USD. $NFLX (-5.74%)
• EXANE BNP lowers the price target for MERCEDES-BENZ from EUR 57 to EUR 54. Underperform. $MBG (-5.9%)
• JEFFERIES downgrades FORD from Hold to Underperform and lowers target price from USD 12 to USD 9. $F (+1.16%)
• CITIGROUP lowers the price target for THYSSENKRUPP from EUR 5.80 to EUR 5.50. Buy. $TKA (-15.03%)
• STIFEL lowers the price target for AIXTRON from EUR 20 to EUR 18. Hold. $AIXA (-7.39%)
• PARETO downgrades TRATON to Hold. Target price EUR 32.50. $8TRA (-8.68%)
• DEUTSCHE BANK RESEARCH lowers the target price for KINGFISHER from GBP 3.50 to GBP 3.40. Buy. $KGF (-4.62%)
• METZLER lowers the price target for CARL ZEISS MEDITEC from EUR 104 to EUR 90. Buy. $AFX (-6.58%)
• BERENBERG lowers the price target for SCHOTT PHARMA from EUR 32 to EUR 28. Hold. $1SXP (-6.44%)
• CITIGROUP downgrades 1&1 to Neutral. Target price EUR 15. $1U1 (-9.33%)

$PAH3 (-3.65%) Porsche Automobil Holding SE: Non-cash, expected impairment of the at-equity carrying amounts of the investments in Volkswagen AG and Porsche AG; withdrawal of the earnings forecast

Volkswagen AG has informed Porsche SE today that the current planning rounds of Volkswagen AG and Porsche AG are no longer expected to be adopted by December 31, 2024. As a result, Porsche SE cannot currently rely on the results of a current approved plan of Volkswagen AG and Porsche AG for accounting purposes.