Annual Report 2013

Share performance

34.7 bn euros

market capitalization.

Henkel share performance versus market
January through December 2013

Henkel share performance versus market
2004 through 2013

The preferred shares traded at an average premium of 18.3 percent over the ordinary shares in 2013.

Year on year, the trading volume of preferred shares declined. Each trading day saw an average of 0.6 million preferred shares changing hands (2012: 0.8 million). The average volume for our ordinary shares declined slightly to about 118,000 shares per trading day (2012: 121,000). Due to very positive share price developments, the market capitalizationmarket capitalization
Market value of a company calculated from the number of shares issued multiplied by their list price as quoted on the stock exchange.
of our ordinary and preferred shares increased from 24.6 billion euros to 34.7 billion euros.

Henkel shares remain an attractive investment for long-term investors. Shareholders who invested the equivalent of 1,000 euros when Henkel preferred shares were issued in 1985, and re-invested the dividends received (before tax deduction) in the stock, had a portfolio value of about 26,893 euros at the end of 2013. This represents an increase in value of 2,589 percent or an average yield of 12.4 percent per year. Over the same period, the DAX provided an annual yield of 7.8 percent. Over the last five and ten years, the Henkel preferred share has shown an average yield of 18.8 and 17.2 percent per year, respectively, offering a significantly higher return than the DAX’s returns of 14.7 percent and 9.2 percent for the same periods.