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EQS-News: Deutsche Beteiligungs AG / Key word(s): Half Year Report
Press release: Deutsche Beteiligungs AG: Strong portfolio activity - continued progress in DBAG's development
2024-05-08 / 08:05 CET/CEST
The issuer is solely responsible for the content of this announcement.
Deutsche Beteiligungs AG: Strong portfolio activity - continued progress in DBAG's development
. Forecast confirmed
. Net asset value up by six per cent in the first six months, to 673.1 million euros[1]
. Earnings (EBITA) of 7.1 million euros from the Fund Investment Services segment are within the target
range
. Four successful transactions realised in the first six months, one more agreed upon
Frankfurt/Main, 8 May 2024. The net asset value of Deutsche Beteiligungs AG (DBAG) rose to 673.1 million euros in the
first six months of the current financial year, up six per cent^1. This encouraging increase can be attributed in
particular to successful disposals and to the operating performance of portfolio companies. In spite of the
macroeconomic challenges on the M&A market, DBAG showed strong portfolio activity, with five transactions being
effected during the six-month period under review, including three disposals and two new investments. Of these, the
sale of in-tech and the partial disposal of Solvares concerned the IT services and software sector. Once again, this
highlights DBAG's expertise and robust network in this area of strong structural growth.
Besides the favourable development within DBAG's portfolio, the integration of ELF Capital Group is also progressing
well. Having closed the majority acquisition, DBAG and ELF Capital now constitute a full-service provider that meets
the financing needs of mid-market companies across their entire capital structure. Both partners contribute strong,
complementary networks offering financing solutions for mid-market companies as well as additional investment
opportunities for fund investors.
Another noteworthy activity during the reporting period was the share buyback programme, which was resolved in February
2024 based on the existing authorisation. Up to 800,000 shares can be acquired over a period of up to one year as part
of this programme. Share buyback programmes are set to become a more regular component of DBAG's distribution policy
through which the Company wants to enable shareholders to participate to a greater extent in DBAG's success. DBAG
regularly publishes updates about the programme on its website.
EBITA (earnings before interest, taxes, and amortisation of intangible assets) in the Fund Investment Services segment
was in line with projections at 7.1 million euros (prior-year period: 7.3 million euros). Earnings in the Private
Markets Investments segment amounted to 19.2 million euros before taxes, compared with 75.7 million euros for the same
period of the previous year.
Compared to the very strong development in the previous year, DBAG continued to develop positively during the six
months under review. At the same time, it consciously decided to incorporate additional factors into the valuation of
its portfolio companies that better reflect the specificities of the private equity industry. As a result, we expect
the future performance of the portfolio companies to be less volatile. Accordingly, DBAG is expected to see less
earnings volatility than in the past. Excluding these additional valuation factors, the segment result would have been
19.1 million euros higher in the six-month period under review.
The result for the same period of the previous financial year had benefited greatly from the positive performance of
listed peer group companies. For example, this is indicated by the performance of the SDAX, which was twice as strong
in the prior-year period (+24 pr cent) than in the current half-year (+12 per cent).
Net income for the first half of the 2023/2024 financial year totalled 24.5 million euros, after 82.6 million euros in
the same period of the previous year. The Company's key figures - net asset value and earnings from Fund Investment
Services - for the first half of the financial year 2023/2024 are within the range projected in the forecast, which has
been affirmed in the half-yearly financial report 2023/2024. DBAG regularly points out that results of any single
quarter cannot be extrapolated to the financial year as a whole.
Tom Alzin, Spokesman for the Board of Management of Deutsche Beteiligungs AG, said: "Despite the macroeconomic
challenges, our team and our partners have succeeded in opening up attractive opportunities for our Company, our fund
investors and our shareholders - and seizing these opportunities in the interests of all stakeholders. This underlines
our ability to identify opportunities and to realise potential both inside and outside our network, even in challenging
situations. In addition, the results shown in our half-yearly financial report clearly demonstrate that our strategic
decisions, such as our geographical and sector diversification, are already bearing fruit."

^[1] Adjusted for dividends paid and the effects of incorporating additional valuation factors

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. Since 2020, DBAG has been present on the Italian market, providing its
services from its office in Milan. DBAG Group's assets under management or advisory amount to approximately 2.6 billion
euros. Within the scope of the strategic partnership with ELF Capital Group, DBAG is expanding its range of flexible
financing solutions for mid-market companies to include private debt.

Deutsche Beteiligungs AG
Head of 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

Deutsche Beteiligungs AG
Senior Manager, Corporate Communications · Youssef Zauaghi
Untermainanlage 1 · 60329 Frankfurt/Main, Germany
Telephone +49 69 95787-363 · +49 175 7032271 (mobile)
E-mail: youssef.zauaghi@dbag.de

2024-05-08 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Archive at www.eqs-news.com  
Language:     English 
Company:      Deutsche Beteiligungs AG 

Untermainanlage 1
60329 Frankfurt am Main
Germany

Phone:        +49 69 957 87-01 
Fax:          +49 69 957 87-199 
E-mail:       welcome@dbag.de 
Internet:     www.dbag.de 
ISIN:         DE000A1TNUT7 
WKN:          A1TNUT 
Indices:      SDAX 
Listed:       Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, 

Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1897995

End of News EQS News Service
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1897995 2024-05-08 CET/CEST

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END) Dow Jones Newswires

May 08, 2024 02:05 ET (06:05 GMT)