Deutsche Beteiligungs (FRA: DBAN)

Currency in EUR

Last close As at 25/03/2023

EUR27.15

−0.45 (−1.63%)

Market capitalisation

EUR519m

Deutsche Beteiligungs is a Germany-based and listed private equity investment and fund management company. It invests in mid-sized companies in Germany and neighbouring German-speaking countries via MBO transactions and growth capital financings. It focuses on growth-driven profitable businesses valued at €50–250m. DBAG’s core objective is to sustainably increase net asset value.

Latest Insights

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Deutsche Beteiligungs_resized

Equity Analyst

Milosz Papst

Milosz Papst

Director, Financials

Key Management

  • Roland Rapelius

    Head of IR

  • Torsten Grede

    CEO

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (11.7) (3.0) (10.4)
Relative (10.6) (11.3) (14.8)
52 week high/low €31.6/€20.9

Overview

Deutsche Beteiligungs (DBAG) posted a 7% increase in NAV per share in Q123 (ending 31 December 2022), supported by a €23.9m positive effect related to the higher earnings of portfolio companies, mostly due to the shift from 2022 to 2023 budgeted earnings in their carrying values. This was further strengthened by €36.5m valuation tailwinds from higher multiples amid the rally in public equities in the last quarter of 2022, as well as the recognition of agreed disposal prices (most notably for BTV Multimedia). DBAG’s shares trade at a 6% discount to NAV, while historically they have traded at a premium (6% on average in the last five years), reflecting the value of the fund services business.

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