Deutsche Beteiligungs AG: Strong Third-Quarter Performance

Deutsche Beteiligungs AG (DBAG) posted a robust performance in the third quarter of the financial year 2023/2024. The net asset value rose approximately four per cent to 669 million euros. The company completed six key transactions, highlighted by the successful disposal of in-tech.

The company's buy-and-build strategy has proven effective, with portfolio companies improving their market positions. Despite some challenges in the macroeconomic climate, valuation multiples positively impacted net gains and losses. DBAG's net income reached 25.7 million euros for the first three quarters.

The Fund Investment Services segment saw earnings increase by 3.5 per cent, reaching 11.7 million euros (EBITA). Additionally, DBAG successfully placed a 100 million euro convertible bond issue, enhancing its financing mix and liquidity.

DBAG confirmed its financial year-end forecast, projecting a net asset value between 675 and 710 million euros. Shares are currently traded at a significant discount to net asset value. The company plans to leverage the cash inflows from recent transactions to pursue further growth opportunities.