Sunday, December 10

Siemens Energy to Replace HelloFresh in Germany’s DAX Index


Siemens Energy AG will rejoin Germany’s equity benchmark, replacing meal-kit delivery firm HelloFresh SE, according to index provider Qontigo.

Bloomberg News

Thyagaraju Adinarayan

Publishing date:

Sep 05, 2022 • 19 minutes ago • 1 minute read • Join the conversation

A logo at the Siemens Energy AG gas turbine factory in Berlin, Germany, on Tuesday, Feb. 2, 2021. Siemens Energy will cut roughly a sixth of workers from its gas and power division in the latest sign that the worldwide shift to green energy is upending the fossil-fuel businesses. Photographer: Liesa Johannssen-Koppitz/Bloomberg
A logo at the Siemens Energy AG gas turbine factory in Berlin, Germany, on Tuesday, Feb. 2, 2021. Siemens Energy will cut roughly a sixth of workers from its gas and power division in the latest sign that the worldwide shift to green energy is upending the fossil-fuel businesses. Photographer: Liesa Johannssen-Koppitz/Bloomberg Photo by Liesa Johannssen-Koppitz /Bloomberg

(Bloomberg) — Siemens Energy AG will rejoin Germany’s equity benchmark, replacing meal-kit delivery firm HelloFresh SE, according to index provider Qontigo.

The changes to the DAX Index are effective Sept. 19, Qontigo said in a statement Monday. The blue-chip gauge includes the 40 largest German listed companies, based on free-float-adjusted market value, and that meet criteria for profitability and corporate governance.

Siemens Energy has a market value of 10.3 billion euros ($10.2 billion), while HelloFresh has a market capitalization of 4.2 billion euros.

Siemens Energy, a spinoff from Siemens AG, was removed from the DAX last March after only a year on the index. Its shares have lost nearly 30% since news of its exclusion from the benchmark. HelloFresh shares, meanwhile, have tumbled 65% so far this year.



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