Deutsche Beteiligungs AG (ISIN: DE000A1TNUT7 / WKN: A1TNUT): Publication of a new forecast for the financial year 2022/2023
Disclosure of inside information pursuant to Article 17 (1) of Regulation (EU) 596/2014 on Market Abuse
Deutsche Beteiligungs AG (“DBAG”) expects higher results for the financial year 2022/2023 (1 October 2022 to 30 September 2023) than most recently anticipated. The Company now expects net income for 2022/2023 to be in a range of 85 to 115 million euros; the most recently forecast range (published in December 2022 and affirmed in February 2023) was between 70 and 80 million euros. Accordingly, net asset value as at 30 September 2023 is now expected in a range between 610 and 715 million euros (previously: 605 to 675 million euros). Earnings from the Fund Investment Services segment are forecast in an unchanged range of 13 to 15 million euros.
The valuation of DBAG’s portfolio is a key driver for net income. Changes in capital market multiples for peer-group companies have had a clearly positive impact on gross gains and losses on measurement and disposal for the first six months of the financial year 2022/2023 (ending on 31 March 2023). In addition, the operating performance of the portfolio companies (balance of change in earnings and debt) has resulted in a positive value contribution. Preliminary net income for the period of approximately 83 million euros clearly outperformed the previous year’s figure (-35.8 million euros). Based on preliminary figures, net asset value at the end of the first six months of the financial year stood at approximately 647 million euros. DBAG is currently in the process of preparing its interim financial statements as at 31 March 2023, and will publish them on 11 May 2023.
Once again, DBAG would like to point out that the results of a single quarter are strongly influenced by valuation levels on the capital markets prevailing on the respective quarterly reporting date. The current forecast is based on valuations as at 31 March 2023; valuation levels at the end of the financial year on 30 September 2023 may be higher or lower.
The Board of Management
Frankfurt/Main, 18 April 2023
Reporting person: Roland Rapelius, Head of Investor Relations