PDF, 1.2 MB - Pfleiderer AG

management report marketing and communication/investor relations pfleiderer ag 59
Power was present at the Hanover Fair in April 2002 where it presented its offshore systems
solution – MULTIBRID ® technology – as well as a new regulating principle for rotor blades,
remote control systems for operating units and assembly without cranes for maximizing site
utilization. In September 2002, Pfleiderer Rail Traffic took part in InnoTrans, Berlin, a specialist
exhibition for transport systems, where it exhibited new variants of its Solid Track System for
regional and inter-city rail traffic. Together with 15 partner companies, the Telecommunication
Business Unit held specialist symposia at Nuremberg and Berlin, looking at the main challenges
which the mobile communications industry is facing. The symposia also gave the Company
an opportunity to demonstrate its competence as a turnkey supplier.
investor relations
On the stock exchange, 2002 proved to be a year marked by falling prices, following on from
what had been a difficult year in 2001. The bear mood on the markets was not helped by news
of falsified balance sheets and price manipulation elsewhere in the world, further undermining
confidence in equities as a capital investment. In this situation, it was the small and mid
caps that suffered most from heavy price falls. Many discussions and conferences held with
investors during 2002 gave the Executive Board a chance to communicate the Company’s
repositioning policy and the state of its business. Nevertheless, overall weak capital markets
made themselves felt on the Pfleiderer share, too, which experienced a price per share loss
of 4.53 euros or 60 percent during the course of the year.
Changes in Pfleiderer share price compared to SDAX
(Jan. 1 to Dec. 31, 2002)
30
15
0
–15
–30
–45
–60
–75
2.1. 2 3 4 5 6 7
2002
8 9 10 11 30.12.
Performance of the Pfleiderer Share in percent Performance SDAX-Index