Why cook box mail order company Hellofresh was not allowed to move up to the Dax
No time right now?
The cook box mail order company Hellofresh could now have moved up to the Dax in terms of numbers. But a new rule, from which Deutsche Börse cannot make an exception, prevented that – for the time being.
The composition of the German Dax share index traditionally depends on the market capitalization of the shares in free float and on the stock exchange turnover. Now the regular review was due again. But for Beiersdorf, who had to leave the Dax, Siemens Energy moved up – and not, as observers had expected, the cook box mail order company Hellofresh.
It only shone with excellent figures two days ago: Due to the pandemic and the increasing willingness of customers to have food delivered to their homes in modular form, sales more than doubled and the adjusted operating result (Ebitda) to 13.5 Percent improved. The development of adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) was particularly strong, which the Berlin startup was able to increase more than tenfold to 505 million euros in the Corona year. In the current year, too, sales are expected to increase by 20 to 25 percent.
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New rules from Deutsche Börse
Hellofresh is suffering from a new regulation that was passed as part of the enlargement of the Dax, which will be pending later in the year: Because aspirants to the large share index must already have a positive operating result for the past two years (i.e. profit before taxes , Depreciation and interest). And Hellofresh did not succeed in doing this despite the excellent numbers – because the deadline for this was February 28th and Hellofresh did not announce the numbers until March 2nd, as scheduled. So by a hair’s breadth – but what is not can still be. Because at the latest when the Dax is increased to 40 values in autumn and the MDax shrinks to 50 values, the cook box mail order company should be able to get started.
With Siemens Energy, a newcomer has also risen to the Dax. The company has only existed as a Siemens subsidiary since last autumn, but with a record development it quickly managed to rise to the German blue-chip index alongside the parent company.
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