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INVESTKREDIT SHARES
Investkredit shares – an attractive investment
Investkredit shares have been listed since 1990.
They are listed on the Prime Market of the Vienna
Stock Exchange. Share capital did not increase
in the year under review and stands at around
EUR 46 m.
Over the course of 2004, a marked increase in the
number of shares traded could be observed. With
“In August 2004 GEF Beteiligungs-AG took over
Leobersdorfer Maschinenfabrik AG, a manufacturer
of high-pressure piston compressor systems
with business activities all over the
world. The acquisition by INVEST
EQUITY is intended to reinforce the
company’s strategic positioning and
safeguard its production site.”
Ernst Huttar
Managing Director
Leobersdorfer Maschinenfabrik AG
INVEST EQUITY realised this acquisition
through its Greater Europe
Fund – GEF Beteiligungs-AG – and
was responsible for the structuring
and arranging of the acquisition
finance.
“In May 2004 the HELLA Group – Austria’s market
leader for protection systems against sun and rain
– acquired the RAU arabella Group in Germany.
Quick decision-making processes
based on professional and comprehensive
corporate analysis convinced
us to have Investkredit finance the
takeover.”
Martin Troyer
Managing Director
HELLA Sonnen- und Wetterschutztechnik GmbH
Investkredit Bank AG structured and
arranged the financing of the acquisition
as sole arranger.
PERFORMANCE / INVESTKREDIT SHARES
Key data per share as at 31.12.2004
Share capital EUR 46,000,110
Shares outstanding 6,330,000
ISIN Code AT0000748108
Reuters OIKV.VI
Bloomberg OEIKAVEquity
the rise in the share price, market capitalisation
more than doubled in 2004 from EUR 325 m to
EUR 820 m. Earnings per share
improved in 2004 by 33% to STRONG RISE IN MARKET
CAPITALISATION
EUR 8.55. This gave the priceearnings
ratio at the end of
2004 a figure of 15.2, having been only 8.0 at the
end of 2003. The book value per share at the end
of the year was EUR 61.99.
Performance of
Investkredit shares 2002 2003 2004
Earnings per share (EUR) 5.06 6.45 8.55
Dividend per share (EUR) 1.00 2.00 2.00 1)
Book value per share (EUR) 48.91 55.51 61.99
Year-end price (EUR) 41.25 51.40 129.54
High (in EUR) 43.65 51.40 129.54
Low (in EUR)
Market capitalisation
36.40 41.20 50.25
(in EUR m) 261.1 325.4 820.4
Dividend yield 2.4% 3.9% 1.5% 1)
Price-earnings ratio 8.2 8.0 15.2
1) Proposal
In the first quarter of 2004 two company reports
appeared for the first time on
Investkredit Bank AG, one by COMPANY REPORTS ON
INVESTKREDIT IN 2004
Erste Bank der oesterreichischen
Sparkassen AG and the
other by Raiffeisen Centrobank Aktiengesellschaft.
15
The year 2004 was undoubtedly an excellent one for
the Vienna Stock Exchange. The
altogether positive corporate ABOVE-AVERAGE PER-
FORMANCE OF INVESTKREDIT
results, but especially the hopes
SHARES +152%
about Eastern Europe inherent
in many Austrian shares, led to
occasionally spectacular gains. Both the ATX and the