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Deutsche Beteiligungs (FRA: DBAN)

Currency in EUR

Last close As at 09/12/2023

EUR26.00

▲ −0.30 (−1.14%)

Market capitalisation

EUR489m

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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Investment Companies | Update

Deutsche Beteiligungs — On track to meet the FY23 guidance

Investment Companies | Update

Deutsche Beteiligungs — Solid liquidity for new investments

Investment Companies | Update

Deutsche Beteiligungs — Robust exit activity in Q123

Investment Companies | Outlook

Deutsche Beteiligungs — Recession in Germany unfolding
Deutsche Beteiligungs_resized
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Equity Analyst

Milosz Papst

Milosz Papst

Director, Financials

Michal Mordel

Analyst, Investment trusts

Key Management

  • Roland Rapelius

    Head of IR

  • Tom Alzin

    Board spokesman

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (6.8) (16.7) (9.1)
Relative (15.1) (21.2) (22.0)
52 week high/low €33.4/€25.6

Overview

Deutsche Beteiligungs (DBAG) posted a 20% NAV total return in the nine months to end-June 2023, thereby recouping the valuation loss in FY22. The uplift to last carrying value from its recently agreed sale of R+S (implying a healthy internal rate of return of over 40%) contributed €14m to its net income in Q323. As a result, management now expects FY23 results to be at the upper half of its guidance of net income at €85–115m and NAV of €610–715m. DBAG’s asset management business delivered a profit of €11.3m in 9M23, on track to meet management’s FY23 guidance of €13–15m. DBAG’s shares currently trade at a c 15% discount to last reported NAV (with the latter not capturing the value of the asset management business).

Research

Deutsche Beteiligungs_resized

Update

Investment Companies

Deutsche Beteiligungs — Solid liquidity for new investments
Deutsche Beteiligungs_resized

Update

Investment Companies

Deutsche Beteiligungs — Robust exit activity in Q123

Investment Companies

Update

Deutsche Beteiligungs — On track to meet the FY23 guidance

Outlook

Investment Companies

Deutsche Beteiligungs — Recession in Germany unfolding

Update

Investment Companies

Deutsche Beteiligungs — Fall in public multiples reduced portfolio value

Update

Investment Companies

Deutsche Beteiligungs — Valuations hit by macro headwinds

Update

Investment Companies

Deutsche Beteiligungs — Solid investment pace in Q122

Review

Investment Companies

Deutsche Beteiligungs — Targeting a 10%+ AUM and NAV CAGR to FY24

QuickView

Investment Companies

Deutsche Beteiligungs — German private equity investor and manager

Review

Investment Companies

Deutsche Beteiligungs — Strong firepower for new acquisitions

Review

Investment Companies

Deutsche Beteiligungs — Targeting a high volume of new investments
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Further insights

Deutsche Beteiligungs_resized

insight

Investment Companies

Deutsche Beteiligungs – Five things investors need to know

Analyst of the week

Melanie Jenner

Mel Jenner

Director, Investment Trusts

mjenner@edisongroup.com
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