Hidden Champions – Growth Potentials

World market leaders have a clear competitive edge. Thanks to their strong market position they can charge higher prices and enjoy preferential procurement, production and marketing prices. Especially in Germany there are many companies that are definitely the leaders in global markets and yet are often not known to the broader general public as they operate in niches. However, given their high share of exports, these hidden champions are key to the success of the German economy. And in the German stock market there are likewise countless such hidden champions who unjustifiably take a backseat to the blue chips.


At the 2nd Equity Forum Heilbronn on May 24, 2012 we welcomed six publicly listed German corporations who have a dominating position in their respective markets. Bar one exception, they are all from the software and IT services segment. Norma Group AG manufactures pipe and tube connections for the automobile and agricultural industries as well as for household appliance makers and, thanks to its clear market leadership, achieves high returns. Cenit AG is Europe’s leading resellers and integrator for CAD and document software solutions for Dassault and IBM. Bechtle AG is Europe’s second largest systems house, with annual sales of EUR 2 billion. Bechtle AG posts outstanding growth rates and is gradually boosting profitability on the back of a rising proportion of high-margin services. Intershop Communication AG has Ebay as a stakeholder and Hewlett Packard as a partner and is now the leading provider of eCommerce software in a fast-growing market. RTT (Realtime Technology) AG is the world’s leading provider of 3D visualization software and is setting the pace in a new IT market that is growing swiftly. USU AG is a leading provider of software for IT processes, knowledge and a software license management.

The hidden champions were represented by:


Bechtle AG - Dr. Thomas Olemotz / CEO

Norma Group AG - Andreas Trösch / Head of IR

Intershop AG - Ludwig Lutter / CFO

Cenit AG - Christian Pusch / CEO

Realtime Technology AG - Ludwig Fuchs / CEO

USU Software AG - Bernhard Oberschmidt / CEO