Allerthal-werke

What Allerthal-werke does

Allerthal-Werke AG is a German Beteiligungsgesellschaft (investment holding company) headquartered in Cologne at Friesenstraße 50, founded in 1899 and listed on the German stock exchange under ticker EDT. The company operates with a very small team (1–10 employees) and runs a concentrated portfolio of listed German equities — including Covestro AG, Aumann AG, Wacker Neuson SE, Masterflex SE, and Smartbroker Holding AG — alongside a controlling 89.7% stake in operating subsidiary Esterer AG. Its functional role is professional stewardship of this portfolio on behalf of public-market shareholders, with economic equity per share reported as a key transparency metric (€30.47 at 30 June 2026, up 10.2% from €27.64 at YE 2025).

The company generates returns through dividends, capital appreciation, and settlement proceeds from corporate actions such as the Generali Deutschland Holding AG squeeze-out (~€480 thousand inflow cited). It does not develop proprietary technology products, has no API, app, or AI/ML capabilities, and has no traditional customers; its end users are dispersed shareholders who acquire shares on German exchanges. H1 2026 net profit was €3.4 million, down 10.5% YoY from €3.8 million in H1 2025, while total share/portfolio value was reported at €27.0 million.

Go-to-market is investor-relations led: Ad-hoc announcements, an investor relations website, annual and half-year financial reports, and an Annual General Meeting (2026 AGM scheduled for 15 July 2026 in Düsseldorf). The management team consists of Eric Hönscheid as the sole Management Board member (Vorstand) and Dr. Markus Linnerz as Chairman of the Supervisory Board (Vorsitzender des Aufsichtsrates). Operating scope is DACH-focused with no disclosed global footprint claim.

Name

Allerthal-werke

Legal name

Allerthal-Werke AG

Website

https://allerthal.de

Company type

Public

Founded year

1899

Operating status

Operating

Headcount range

1–10 employees

Short description

Allerthal-Werke AG is a Cologne-based, publicly listed German investment holding company (Beteiligungsgesellschaft) founded in 1899, managing a concentrated portfolio of German small/mid-cap equities and an 89.7% stake in subsidiary Esterer AG on behalf of public-market shareholders.

Ownership category

akta.pro rank

Headquarters

HQ city

Cologne

HQ country

Germany

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others

Revenue model

1. Investment Returns and Portfolio Management: As a Beteiligungsgesellschaft (investment holding company), Allerthal-Werke generates returns through dividends, capital gains, and appreciation from its securities portfolio. The portfolio includes listed German equities (Covestro AG, Aumann AG, Wacker Neuson SE, Masterflex SE, Smartbroker Holding AG) and a majority-owned subsidiary (Esterer AG with 89.7% stake). The company also receives settlement payments from corporate actions such as squeeze-out proceedings.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Allerthal-Werke AG is a German Beteiligungsgesellschaft (investment holding company) that manages a diversified securities portfolio of equity positions in listed German companies including Covestro AG, Aumann AG, Wacker Neuson SE, Masterflex SE, and Smartbroker Holding AG. It also holds an 89.7% majority stake in operating subsidiary Esterer AG. The company generates returns for shareholders through dividends, capital gains, and settlement proceeds from corporate actions such as squeeze-out proceedings.

Product overview

Allerthal-Werke AG is a German Beteiligungsgesellschaft (investment holding company) established in 1899. The company operates as a securities investment vehicle, managing a portfolio of equity positions in listed German companies and holding an 89.7% stake in subsidiary Esterer AG. The company reports economic equity per share and generates returns through dividends, capital gains, and settlement proceeds from corporate transactions.

Differentiator

Problem solved

Functional benefit

Products and services

• Securities Portfolio Management Management of a diversified portfolio of equity investments in listed German companies including Covestro AG, Aumann AG, Wacker Neuson SE, Masterflex SE, and Smartbroker Holding AG, held for the benefit of the company's shareholders.

Quantifiable outcome

• Economic equity per share increased by approximately 10.2% from €27.64 (December 2025) to €30.47 (June 2026)

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Esterer AGcoreOthersAllerthal-Werke AG holds an 89.7% majority stake in Esterer AG, making it a core subsidiary of the investment holding company. Esterer AG represents a significant portion of the company's investment portfolio and operations.

Scale indicators4 records

Recent moves5 records

Expansion highlights1 record

Direct peers

• INDUS Holding AG: INDUS Holding AG is a publicly listed German mid-cap industrial holding company that acquires and develops SMEs in German-speaking regions. It is a direct peer to Allerthal-Werke as both operate as German-listed holding entities with concentrated industrial equity exposure.
• MBB SE: MBB SE is a publicly listed German investment company that acquires and develops medium-sized industrial and technology businesses. It is a direct peer to Allerthal-Werke as both serve as German-listed Beteiligungsgesellschaften managing diversified equity and operating-subsidiary portfolios.
• VIB Vermögen AG: VIB Vermögen AG is a German-listed investment holding company with a portfolio of commercial real estate and equity stakes in real-estate-adjacent businesses. It is a direct peer to Allerthal-Werke as both operate as German-listed holding entities that combine portfolio investments with subsidiary ownership.
• Deutsche Beteiligungs AG: Deutsche Beteiligungs AG (DBAG) is a publicly listed German investment company that acquires and develops majority and minority equity stakes in mid-market companies. It is a direct peer to Allerthal-Werke as both operate as German-listed Beteiligungsgesellschaften managing diversified equity portfolios with active ownership.
• Mutares SE & Co. KGaA: Mutares is a Frankfurt-listed investment holding company specializing in acquiring and turning around mid-sized companies, primarily in Germany. It is a direct peer to Allerthal-Werke as both are German-listed holding companies focused on industrial equity exposure and operating-subsidiary management.
• Aton Holding GmbH: Aton Holding GmbH is a privately held German industrial holding company managing equity stakes across multiple sectors. It is comparable to Allerthal-Werke as both operate as German-domiciled holding entities with diversified industrial equity portfolios.
• Scherzer & Co. AG: Scherzer & Co. AG is a Cologne-based publicly listed German investment holding company that pursues a value-oriented strategy across German equities and corporate arbitrage situations. It is a direct peer to Allerthal-Werke as both are small German-listed Beteiligungsgesellschaften with concentrated German equity portfolios.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat2 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/allerthal-werke-ag

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Allerthal-werke