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Competence    Experience     Relations       

since 2003

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Activities and Philosophy

  • Founded in 2003, Dr. Kalliwoda Research GmbH is an independent supplier of equity and bond research:  For 16 years we have been specialist in Mid- and Small-Caps of following sectors: 
  • IT&Software, Media, Engineering & Special Engineering/Laser/Photonics, Biotech & Pharmaceuticals, Chemicals, Renewables, Utilities, Oil/Gas producers, Logistics  and Financial Services
  • Besides our own research label we are outsourcing research partners (white label/Co-brand research)
  • We focus on service, quality and clients: Research on Bloomberg//Thomson Reuters/vwd group and JCF Factset  & Roadshows in Europe
  • We plan and conduct roadshows primarily for equity and bond issuers in Europe. In addition, we set up our own Dr. Kalliwoda Capital Markets Conferences and Capital Evenings. In all cases we address institutional investors.
  • Our team is professional, has long-term experience and all our activities are based on high ethical standards (DVFA, CEFA, CFA).

The Research Team

The team consists of economists, biologists, chemists and engineers with longtime industry know-how and delivers independent and detailed fundamental analysis with a transparent and disciplined investment style.

We are focusing on the analysis of European growth and high valued companies with a market cap between EUR 20 Mio. and EUR 10 Bln., partly above. 

Ceo and Founder       

Chief Executive of DR. KALLIWODA RESEARCH GmbH, Dr. Norbert Kalliwoda, studied economics and holds a PhD in Economics from Frankfurt University (Highly gifted doctoral scholarship holder of the Federal Republic of Germany). In addition he is a Certified European Financial Analyst. Prior to establishing his own company in 2003 he worked as a sell-side analyst for Logistics/ Technology-companies at A&A Actienbank (Frankfurt/Main & Zurich). His professional career includes positions as a consultant in the area of process management and finance. Additionally he worked as a sales executive for Templeton and Equity Fund Manager for DIT/dbi (today Allianz Global Investors). Dr. Norbert Kalliwoda is member of panel discussions of ® Deutsche Börse AG (Technology) and he is seen in TV Live Performances.

Primary Research       

We produce and offer continuously single company analysis (equity and bond) and sector reports of high quality standards (CFA/CIIA/CEFA/ DVFA). © Copyright Dr. Kalliwoda Research GmbH

Bloomberg + Thomson Reuters + vwd group + Factset : KALLIWODA Recommendations



Arndtstraße 47
D-60325 Frankfurt am Main

Tel.: +49 69 97 20 58 53
Fax: +49 69. 138 192 15
E-Mail: research@kalliwoda.com

15. Dr. Kalliwoda Capital Markets Conference in Warsaw

Tuesday & Wednesday: 11th & 12th February 2020


>> Dr. Kalliwoda Conferences

8. Dr. Kalliwoda Capital Markets Conference in Madrid & Barcelona

Thursday and Friday: 19. & 20. September 2019

  Madrid & Barcelona

>> Dr. Kalliwoda Conferences


>>  Equity-Analyses

>> Career

>> Chronicle

>> Press

>> References

>> Research Team

>> Company Presentation  (pdf download)

>> Newest activities  (pdf download)

>> Dr. Kalliwoda Conferences

>> Dr. Kalliwoda Roadshows

>>  Data Protection

>> Imprint

    >> Example DAX30 Analysis, (pdf download)

    >> Example MDAX50 Analysis, (pdf download)

   >> Example SDAX50 Analysis, (pdf download)
   >> Example TecDAX30 Analysis, (pdf download)