No insider purchase over the last 90 days. The latest was filed 17 Jul 2025.
Only a handful of insider records exist for Allerthal-Werke Aktiengesellschaft, the last one from 17 July 2025, too few to describe a trend. Source: insider filings from BaFin. Past trades are no guide to future returns.
Headquarters: Cologne, Germany · Founded: 1899 · 3 employees (2020)
Source: Wikidata (CC0).
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Allerthal-Werke Aktiengesellschaft is a German listed company traded on Xetra/Frankfurt (DAX/MDAX/SDAX), but it should be viewed primarily as a specialized investment holding rather than a traditional industrial operating company. Its core activity is managing a portfolio of listed equity investments, with a particular focus on German small- and mid-cap shares, while also holding selected unlisted or structured participations. The company is headquartered in Cologne, Germany, at Friesenstraße 50. Its roots go back to 1899, when it was founded in Grasleben as a brewery; over time it was transformed through several business models before becoming, in its current form, an investment company in 1998. ([allerthal.de](https://www.allerthal.de/gesellschaft/historie/?utm_source=openai))
Economically, Allerthal-Werke’s earnings are driven mainly by portfolio selection, capital gains, and the revaluation of its holdings. Recent disclosures show that the portfolio is dynamic, but the company’s investment universe remains centered on German and German-speaking mid- and small-cap companies and on special situations where valuation inefficiencies or corporate actions create opportunities. A key feature of the group structure is its 89.7% stake in Esterer AG, which adds a partially operational holding element to what is otherwise a portfolio investment model. ([allerthal.de](https://www.allerthal.de/2026/03/26/allerthal-werke-ag-jahresabschluss-2025/?utm_source=openai))
From a competitive standpoint, Allerthal-Werke differentiates itself through an opportunistic, disciplined and sometimes activist style of capital allocation. The company regularly comments on general meetings, share buybacks, squeeze-out proceedings, and other corporate-action events, indicating an active ownership approach rather than passive index-style investing. In 2025, for example, it publicly took a stance on R. Stahl AG’s share buyback authorization. ([allerthal.de](https://www.allerthal.de/2025/06/03/allerthal-werke-ag-heutige-hauptversammlung-der-r-stahl-ag-lehnt-den-von-der-verwaltung-vorgeschlagenen-aktienrueckkauf-mehrheitlich-ab/?utm_source=openai))
Recent performance has been volatile, which is typical for a concentrated equity investment vehicle. Fiscal year 2024 was weak, reflecting pressure across German small caps, but the company reported a strong turnaround in 2025, with annual net income of EUR 3.820 million and a proposed dividend of EUR 1.50 per share. First-half 2025 also improved materially, with a EUR 3.896 million profit. Governance also changed, as Eric Hönscheid was appointed to the management board effective 1 June 2025. For investors in Germany’s listed equity market, Allerthal-Werke is therefore a niche, high-conviction vehicle with a long corporate history, an investment-led business model, and significant exposure to the valuation cycle of German small- and mid-cap stocks. ([allerthal.de](https://www.allerthal.de/2025/03/27/allerthal-werke-ag-jahresabschluss-2024/?utm_source=openai))
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