In the last SektorReport, the focus was on developments in the IT service market. The background to this was the strong pressure from the market, especially on smaller IT service providers, which resulted from an unfavorable situation on the IT hardware market. To date, the markets for IT hardware have not recovered. Computer chip manufacturers continue to adjust their production downwards and there is no end to this spiral in sight. The IT services area therefore has to continue to forego support from hardware components for the time being. It also remains questionable how the currently published economic forecasts will affect company demand.

In our current SektorReport TMT 2023 Q2 we want to look at the development of the German IT services market and its leading companies and have therefore made a comparison of the ranking by sales between 2023 vs. 2013.

A significant transaction in Q2 2023 was the fight for the majority in Software AG from Darmstadt. SilverLake and Bain Capital had a lively competition for the takeover, which SilverLake was ultimately able to decide in its favor.

The valuation trends in the TMT sector are opposite in Q2 2023. While the DAXsector Software Index was able to gain, all other indices did not develop as strongly or even declined. However, the EUROSTOXX50 index is the only index that is close to pre-pandemic levels.

Our SektorReports are available in German language. If you have further questions regarding this topic, feel free to get in touch.