10.03.2020 German Startups Group GmbH & Co. KGaA  DE000A1MMEV4

DGAP-News: German Startups Group GmbH & Co. KGaA: German Startups Group revaluates certain holdings in its portfolio


 

DGAP-News: German Startups Group GmbH & Co. KGaA / Key word(s): Forecast
German Startups Group GmbH & Co. KGaA: German Startups Group revaluates certain holdings in its portfolio

10.03.2020 / 13:47
The issuer is solely responsible for the content of this announcement.


+++ Press release +++

German Startups Group revaluates certain holdings in its portfolio
 

- Write-down of Ceritech and mark-up of two focus investments

- Profit expectation for 2019 within the previous range

- High cash and cash equivalents position



Berlin, 10 March 2020 - German Startups Group, a Berlin-based leading venture capital provider in Germany, has been informed by Ceritech AG today, in which it holds a stake of 8.8%, that Ceritech's most important partner has communicated that there will be no closing of the negotiated contract for its joint rare earth materials project in the foreseeable future. Therefore, German Startups Group has effected an extraordinary write-down of the stake's full book value in its financial statement for 2019 (IFRS) for prudential reasons.

Several other portfolio companies, especially two of its focus investments of German Startups Group, have shown very favorable developments in the meantime, so they have to be marked-up per 31 December 2019 (IFRS). In total, the profit expectation (IFRS) for 2019 stays within the range of 3 to 5 million euros as published in December, though, likely to be in the lower half or between 0.27 and 0.35 euros per share. This equals an equity per share as per 31 December 2019 of roughly 2.70 to 2.80 euros per share (IFRS). The balance sheet items cash and current financial assets alone may make up more than 1.00 euro per share already as per 31 December 2019 and should increase noticeably through planned divestments of stakes.

From sales of stakes in 2019, German Startups Group holds cash and cash-equivalents amounting to two thirds of its current market capitalization and in addition still holds a broad portfolio of promising investments in young German tech growth companies, such as AuctionTech, Fiagon, Mister Spex, Remerge and Simplesurance. The management furthermore focuses on divestments, with four cases having already substantiated.

Management does not plan re-investments of capital gains in shareholdings within the Venture Capital stage after it has taken note of the share price being penalized by the capital markets within the last years due to the limited transparency of the financial data of its portfolio companies, leading to a significant discount on the Net Asset Value (NAV) per share. As long as the share price is significantly lower than the NAV per share in the eyes of the management, it wants to use sale proceeds for further share buybacks of its own shares, subject to approval of the supervisory board, and fully exercise the legally permitted volume for the use of own shares under exclusion of subscription right. Share buybacks have become even more attractive due to the share price drop for the corona virus.

German Startups Group's management looks very confidently to the further year 2020.
Investor Relations Contact
German Startups Group

Marcel Doeppes
[email protected]
www.german-startups.com

German Startups Group

The German Startups Group, a Berlin-based publicly traded company comprises one of the leading VC providers in Germany. With a focus on Germany's young, fast growing companies - so called startups - the company acquires majority and minority shareholdings by providing venture capital. The core investment focus is on those tech companies whose products or business models include disruptive innovation, allow for a high degree of scalability and are run by strong entrepreneurial management teams. Since it commenced operations in 2012, German Startups Group has built a diversified portfolio of stakes in such companies and has become the most active private venture capital investor in Germany (CB Insights 2015, Pitchbook 2016). With the launch of G|S Market(TM) via a wholly owned subsidiary German Startups Market GmbH, the company operates a secondary market platform for tech assets since June 2018. Its majority holding, German Startups Asset Management GmbH, will launch its own novel type VC funds in the future and provide SPVs for G|S Market(TM) on the acquirer side in order to enable several investors to acquire larger investment opportunities through pooled investments.

More information is available on our website at www.german-startups.com.



10.03.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: German Startups Group GmbH & Co. KGaA
Platz der Luftbrücke 4-6
12101 Berlin
Germany
Phone: +49 (0)30-54908603
Fax: +49 (0)30-54908604
E-mail: [email protected]
Internet: www.german-startups.com
ISIN: DE000A1MMEV4
WKN: A1MMEV
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Tradegate Exchange
EQS News ID: 993617

 
End of News DGAP News Service

993617  10.03.2020 

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Die wichtigsten Finanzdaten auf einen Blick
  2016 2017 2018 2019 2020 2021 2022e
Umsatzerlöse1 10,91 9,61 12,53 16,45 0,13 12,50 16,60
EBITDA1,2 -4,75 2,70 2,34 4,84 -1,12 7,50 9,80
EBITDA-Marge3 -43,54 28,10 18,68 29,42 -861,54 60,00 59,04
EBIT1,4 -5,18 2,27 1,72 4,19 -1,12 5,80 7,90
EBIT-Marge5 -47,48 23,62 13,73 25,47 -861,54 46,40 47,59
Jahresüberschuss1 -3,34 1,68 -0,68 3,42 -0,74 5,00 6,40
Netto-Marge6 -30,61 17,48 -5,43 20,79 -569,23 40,00 38,55
Cashflow1,7 -0,81 -2,00 -1,60 0,88 -1,75 2,60 0,00
Ergebnis je Aktie8 -0,29 0,14 -0,05 0,26 -0,05 0,08 0,12
Dividende8 0,00 0,00 0,00 0,00 0,00 0,00 0,03
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2020 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

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INVESTOR-INFORMATIONEN
©boersengefluester.de
SGT German Private Equity
WKN Kurs in € Einschätzung Börsenwert in Mio. €
A1MMEV 1,390 Kaufen 84,59
KGV 2023e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
7,32 11,12 0,67 14,79
KBV KCV KUV EV/EBITDA
3,00 - 645,70 -72,58
Dividende '20 in € Dividende '21e in € Div.-Rendite '21e
in %
Hauptversammlung
0,00 0,00 0,00 23.06.2021
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
30.09.2021 01.06.2021
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
-3,00% -12,85% -2,11% -10,32%
    
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