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Traumhaus reported lower 2019 results, mainly burdened by delay driven one-off effects, given shortages in domestic land registry offices, amid the corona pandemic. Whilst this explains the shortages to our estimates in 2019, it creates ample upside potential in the forthcoming years.

Gerresheimer's Q2/20 results confirmed the upward trend already shown in Q1. A corona-related decline in demand in the cosmetics business was fully compensated. The start-up of new production lines is progressing according to plan.

Dermapharm is a leading manufacturer of pharmaceuticals in Germany. It has a broad portfolio of products, ranging from generic prescription pharmaceuticals (Rx), over-the counter (OTC) products, food supplements, herbal extracts and medical devices.

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MiFID II

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