22.06.2018
Deutsche Beteiligungs AG DE000A1TNUT7
DGAP-Adhoc: Deutsche Beteiligungs AG: BaFin's notice of hearing: Consolidated Financial Statements 2014/2015 possibly incorrect - Impact on current accounting and forecast for the current financial year
DGAP-Ad-hoc: Deutsche Beteiligungs AG / Key word(s): Legal Matter/Forecast
Deutsche Beteiligungs AG: BaFin's notice of hearing: Consolidated Financial
Statements 2014/2015 possibly incorrect - Impact on current accounting and
forecast for the current financial year
22-Jun-2018 / 00:29 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Deutsche Beteiligungs AG (ISIN: DE000A1TNUT7 / WKN: A1TNUT) -
BaFin's notice of hearing: Consolidated Financial Statements 2014/2015
possibly incorrect - Impact on current accounting and forecast for the
current financial year
The Federal Financial Supervisory Authority (BaFin) has informed Deutsche
Beteiligungs AG (DBAG) today that it will assess a breach of accounting
rules for the consolidated financial statements of DBAG as of 30 September
2015 (2014/2015 financial year). BaFin is of the opinion that in the
consolidated statement of comprehensive income 2014/2015 the result from the
investment business was understated by 14.6 million euros. The background to
this is the question of the IFRS-compliant consideration of
performance-related profit shares arising from private investments in the
investment entity subsidiary of DBAG Fund V. According to BaFin, these
profit shares (carry interest) should have already been taken into account
for the previous year. DBAG reported on this fact and the ongoing
enforcement procedure in its Annual Report 2016/2017 and in the Half-Year
Financial Report as of 31 March 2018.
The Board of DBAG will deal with the content of the letter within the set
deadline of 4 July 2018. The opinion of BaFin also has an impact on the
current accounting of the investment entity subsidiaries for DBAG Fund VI
and DBAG Fund VII. As reported, as of March 31 arithmetical carried interest
of 9.9 million euros and further carried interest amounting to around two
million euros from the performance in the current second half of the
financial year would have taken into account for these two companies. The
forecast for the consolidated result of the 2017/2018 financial year
communicated on May 8, 2018, in the half-year financial report would be
reduced by this amount; accordingly, the consolidated result for 2017/2018
would not only be "moderate", i.e. ten to 20 percent below the reference
point of 43.0 million euros, but "significantly", i.e. more than 20 percent
below this value. In part, DBAG had taken into account the profit shares in
question in its mid-term forecast published in November 2017 for the two
following financial years.
The Board of Management
Frankfurt am Main, 21 June 2018
Issued by: Thomas Franke, Head of Public Relations and Investor Relations
Contact:
Thomas Franke
Head of Public Relations/Investor Relations
E-Mail: [email protected]
Phone: +49 69 95787 307
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22-Jun-2018 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Deutsche Beteiligungs AG
Börsenstrasse 1
60313 Frankfurt am Main
Germany
Phone: +49 69 957 87-01
Fax: +49 69 957 87-199
E-mail: [email protected]
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
End of Announcement DGAP News Service
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697887 22-Jun-2018 CET/CEST
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