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Deutsche Beteiligungs

FRA: DBAN

Market Cap€526m

Last Close €27.95

Deutsche Beteiligungs is a Germany based and listed private equity (PE) investment and fund management company that invests in mid-sized companies in Germany and neighbouring countries via MBO transactions and growth capital financings. There is a focus on growth-driven profitable businesses valued between €50m and €250m. It also manages €2.6bn of third-party capital, which generates stable recurring fee income.

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Investment summary

Deutsche Beteiligungs (DBAG) reported a net loss of €78.3m in 9M22 (ending June 2022), which translated into an 11.7% NAV decline (in total return terms), less than the 28% fall in the SDAX during the period. The contraction of public multiples used to value its portfolio outweighed positive earnings contributions. The fund services segment generated €9.4m profit in 9M22 from managing €2.5bn assets, and DBAG confirmed its segment guidance of €14–16m profit in FY22. DBAG also continued its high acquisition activity with €127m spent on seven new investments so far in FY22 (of which four are in IT services and software) and 23 add-ons by portfolio companies (with a €12m equity support from DBAG).

Content on Deutsche Beteiligungs
Deutsche Beteiligungs – Fall in public multiples reduced portfolio value
Investment companies | research Update | 22 August 2022
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Deutsche Beteiligungs – Valuations hit by macro headwinds
Investment companies | research Update | 26 May 2022
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Deutsche Beteiligungs – Solid investment pace in Q122
Investment companies | research Update | 22 February 2022
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Share price graph
Price performance
%
1m
3m
12m
Actual 10.5 1.6 (26.4)
Relative* 1.7 (9.4) (22.9)
52-week high/low €40.5/€20.9
*% relative to local index
Key management
Torsten Grede CEO
Roland Rapelius Head of IR