Capital market environment

In the 2022/2023 financial year, capital markets continued to be characterized by the after-effects of the coronavirus crisis as well as the war in Ukraine and associated general economic uncertainty. In particular, sharp hikes in interest rates, deteriorating financing conditions for growth companies, persistent product cost inflation and tight labor markets led to higher volatility in global equity markets.

Germany’s leading equity index, the DAX, started BRAIN Biotech’s financial year at 12,114.36 points and marked its high for the year on 28 July 2023 at 16,469.75 points. As of the end of BRAIN Biotech’s financial year, it stood at 15,386.58 points, reflecting an increase of 26 %.

The small cap index SDAX, which is more important for BRAIN Biotech, performed almost in line with its larger counterpart, the DAX, with a gain of 22 % over the same financial-year period. The Specialty Chemicals Sector Index significantly underperformed with a gain of 0.8 %. With a share price appreciation of 3.9 %, the BRAIN Biotech AG share also significantly underperformed both the DAX and SDAX benchmark indices during the reporting period, but outperformed the speciality chemicals sector.¹