19.01.2016
Deutsche Beteiligungs AG DE000A1TNUT7
DGAP-Adhoc: Deutsche Beteiligungs AG: First-quarter net income at about 30 million euros due to unexpected positve effects from the portfolio
Deutsche Beteiligungs AG / Key word(s): Quarter Results/Forecast
19.01.2016 15:38
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Announcement consistent with § 15 WpHG (German Stock Corporation Act)
Deutsche Beteiligungs AG, WKN A1TNUT
Deutsche Beteiligungs AG: First-quarter net income at about 30 million
euros due to unexpected positive effects from the portfolio
Deutsche Beteiligungs AG (DBAG) will presumably post net income of
approximately 30 million euros for the first quarter of its 2015/2016
financial year (1 October 2015 to 30 September 2016), pursuant to the
preliminary financial results as at 31 December 2015. This unexpectedly
high quarterly income stems from unpredictable positive contributions to
the net result of investment activity; this item significantly determines
DBAG's net income.
In addition to the recently reported divestment of the Spheros Group, the
net result of investment activity in the first quarter of 2015/2016 was
also positively driven by a further profitable realisation of an investment
from the portfolio of one of DBAG's two remaining international buyout
funds. These two transactions delivered a contribution to income of
approximately ten million euros. The value contribution coming from the
other portfolio companies was, in total, also greater than expected, since
individual portfolio companies, particularly ones that were recently
acquired, exhibited considerably stronger progress than had been projected.
Following these largely unexpected positive influences on the net result of
investment activity and, therefore, on the quarterly net income, negative
changes have also occurred since the end of the period at 31 December 2015:
in particular, valuation ratios on the stock markets have taken a downturn.
In the opinion of the Board of Management, cyclical risk has increased at
least for those portfolio companies that manufacture and globally market
capital goods.
In view of the foreseeable first-quarter result, the forecast for financial
year 2015/2016 can now be concretised: as previously predicted, net income,
on a comparable basis, is expected to significantly exceed that of the
previous year. Added to that is the profit from the divestments of a
further ten million euros.
In the private equity business, only a few events can significantly
influence the results of individual periods. For that reason, the results
of single quarters cannot be extrapolated to the full financial year.
DBAG is currently preparing its interim financial statements at 31 December
2015; they will be issued on 11 February 2016.
The Board of Management
Frankfurt am Main, 19. January 2016
19.01.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Deutsche Beteiligungs AG
Börsenstrasse 1
60313 Frankfurt am Main
Germany
Phone: +49 (0)69 957 87-01
Fax:
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, Munich,
Stuttgart
End of Announcement DGAP News-Service
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