German Startups Group (GSG) released its preliminary FY18 results, posting results from its investment business’ at €3m vs.last year’s €3.4m. During the period, GSG’s EBIT per share decreased from €0.27 to €0.20-0.25 and EBT per share stood at €0.10 per share.
After share buybacks GSG had 11.9m shares, on average, during 2018, which implies a reported EBT at c €1.2m and a one-third decrease year-to-year in EBT. According to the company, its results were also affected by around €2m in depreciation of deferred taxes created between 2013-2015, equating to €0.16 per share.
For 2019, management expects exits of mature portfolio holdings as well as further trade sales. In addition, the company intends to buy back its shares if its share price falls significantly below NAV per share.
GSG plans to publish its final FY18 results in May 2019.
Author: Milosz Papst