Deutsche Beteiligungs AG: Strong value appreciation in the first half of the year, reflecting continuous portfolio performance

Deutsche Beteiligungs AG: Strong value appreciation in the first half of the year, reflecting continuous portfolio performance

• Net asset value up by 14 per cent in the first six months, to 646.5 million euros*
• Earnings from Fund Investment Services increases to 7.2 million euros, as projected
• Increased full-year guidance affirmed
• Four successful disposals realised, one more agreed upon

Frankfurt/Main, 11 May 2023. The net asset value of Deutsche Beteiligungs AG rose by 14 per cent to reach 646.5 million euros in the first six months of the current financial year. This very satisfactory outcome was driven by the operating performance of the 36 companies in DBAG’s current portfolio, the overall development of peer-group companies on the capital markets, as well as the successful disposals. Continuing a trend that was already visible in the first quarter of the 2022/2023 financial year, these half-year results underscore DBAG’s strategic decision to expand its sector focus, to include those characterised by structural growth – such as broadband telecommunications as well as IT services and software. Expansion of DBAG’s geographical coverage has also contributed to this result. The strategic enhancements are thus already bearing fruit.

Earnings before taxes in the Fund Investment Services segment increased to 7.2 million euros in the reporting period, as planned, against 5.8 million euros in the same period of the previous year. In the Private Equity Investments segment, earnings before taxes posted a clear year-on-year increase, to reach 75.7 million euros. Net income for the first half of the 2022/2023 financial year totalled 82.6 million euros, after -35.8 million euros in the same period of the previous year.

After the first six months, DBAG’s key performance indicators – net asset value and earnings from Fund Investment Services, as well as the Group's net income – have come in within the range of DBAG’s full-year guidance for the 2022/2023 financial year, as published on 18 April 2023, which is affirmed in the half-yearly financial report published today. DBAG regularly points out that results of any single quarter cannot be extrapolated to the financial year as a whole.

“The current market situation is challenging. Our strong half-year results are therefore all the more satisfying. This shows once again that our diversification in terms of focus sectors and geographical reach, which we planned for a long time, has definitely been – and continues to be – the right move. Credit goes to our team, who ensured that we’ve been able to exploit exciting opportunities for value creation, even in a challenging market such as the one we are experiencing right now” said Tom Alzin, Spokesman of the Board of Management of Deutsche Beteiligungs AG.              

“Positive value contributions came from across the entire portfolio, which underlines the particularly high quality of our investee companies”, according to the half-yearly financial report published today. Moreover, DBAG was able to realise four successful disposals in a difficult market environment, plus one more agreed upon. The Company also supported several add-on acquisitions by its portfolio companies. In addition, the strategic sector focus, the expanded geographical coverage, and the fact that DBAG’s team comprises a wide variety of skills and expertise, all help to even better utilize the potential for value appreciation – for DBAG’s shareholders, fund investors, and portfolio companies. 

*Adjusted for dividend payment
 

Deutsche Beteiligungs AG (“DBAG”) has been listed since 1985 and is one of the most renowned private equity firms in Germany. As an investor and fund advisor, DBAG traditionally focuses on mid-market companies in Germany, Austria and Switzerland (the DACH region), and especially on well-positioned companies offering growth potential. DBAG’s sector focus is on manufacturers, industrial service providers and IndustryTech enterprises – businesses whose products facilitate automation, robotics and digitalisation – as well as on companies from the broadband telecommunications, IT services, software and healthcare sectors.  With its Milan office, DBAG has also maintained a presence in Italy since 2020. DBAG Group’s assets under management or advisory amount to approximately 2.6 billion euros.

Deutsche Beteiligungs AG
Corporate Communications · Roland Rapelius
Untermainanlage 1 · 60329 Frankfurt/Main, Germany
Telephone +49 69 95787-365 · +49 151 26663172 (mobile)
E-mail: roland.rapelius@dbag.de