The DAX index is made up of 40 companies trading on the Frankfurt Stock Exchange, including BASF and Mercedes
Beiersdorf is the owner of Nivea
Beiersdorf has marked its 100th year in business by rejoining the DAX stock market.
The Nivea owner will list on the stock market index, which consists of 40 major German blue chip companies, effective this month, 100 years since its establishment.
Other companies listed on the Frankfurt Stock Exchange index include chemical company BASF, Mercedes Benz and pharmaceutical business Bayer.
“The outstanding development of Beiersdorf and its brands over the last century has shown that its conversion to a public limited company back in 1922 was the right step has decisively advanced the group’s innovative strength,” said Astrid Hermann, Beiersdorf’s Chief Financial Officer.
“The return to the DAX is a perfect fit for our 100th anniversary as a joint-stock company.
“We will continue to focus on the implementation of our corporate strategy CARE+.
“Our success in the first quarter of fiscal year 2022 confirms that this is the right course.”
Group sales in Q1 of fiscal year 2022 were up 10.3% to €2.2bn compared with the previous year.
Meanwhile, since its inception Beiersdorf’s market capitalisation has grown to more than €24bn, as of the end of May.
The male grooming arm of Beiersdorf’s crown jewel, Nivea, is also celebrating 100 years in business this month.
In commemoration of becoming a centenarian brand, Nivea Men introduced a three-part limited edition set of skus.
The collection includes a creme, shaving cream and aftershave balm.