Deutsche Beteiligungs AG (ISIN: DE000A1TNUT7 / WKN: A1TNUT): Preliminary net income for 2021/2022 between -90 and -100 million euros
Disclosure of inside information pursuant to Article 17 (1) of Regulation (EU) 596/2014 on Market Abuse
Deutsche Beteiligungs AG (“DBAG”) generated net income for the 2021/2022 financial year (1 October 2021 to 30 September 2022) that was lower than anticipated. Based on preliminary, unaudited figures, net income is likely to come in between -90 and -100 million euros. The forecast range published in July 2022 was between -70 and -85 million euros. Net asset value of Private Equity Investments as at 30 September 2022 is now expected at the lower end of the most recently published range of between 570 and 630 million euros. Earnings from Fund Investment Services for the financial year 2021/2022 continue to be forecast in a range of 14 to 16 million euros (unchanged from the previous forecast).
The lower guidance, compared to the one published in July 2022, is predominantly due to two effects: firstly, a net negative contribution from changes in earnings and from changes in debt of portfolio companies. Secondly, capital market multiples, which DBAG uses to value its portfolio companies, have declined further, with a negative impact upon net gains and losses on measurement and disposal. Positive effects from the valuation of individual portfolio companies were insufficient to fully offset this impact. As at the 30 September 2022 reporting date, multiples for the majority of peer groups were below the levels observed on the preceding reporting date (30 June 2022).
DBAG is currently preparing its consolidated financial statements as at 30 September 2022, and will publish them on 1 December 2022. At this point in time, the consolidated financial statements have not yet been established; the results outlined above are thus still preliminary.
The Board of Management
Frankfurt/Main, 20 October 2022
Reporting person: Roland Rapelius, Head of Investor Relations and Corporate Communications