Deutsche Beteiligungs AG
Deutsche Beteiligungs AG: Gross gains and losses on measurement and disposal for the third quarter significantly lower year-on-year – full-year guidance specified

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Deutsche Beteiligungs AG (ISIN: DE000A1TNUT7 / WKN: A1TNUT): Gross gains and losses on measurement and disposal for the third quarter of the 2023/2024 financial year significantly lower year-on-year – full-year guidance specified

Deutsche Beteiligungs AG (“DBAG”) expects to post gross gains and losses on measurement and disposal for the third quarter of the 2023/2024 financial year (1 April to 30 June 2024) which will be significantly lower than the result for the same quarter of the previous financial year. In line with DBAG’s business model, gross gains and losses on measurement and disposal is a key driver of consolidated net income; hence, the consolidated net income for the third quarter of 2023/2024 will be significantly lower than the quarterly result for the previous financial year.

The valuation of DBAG’s portfolio as at 30 June 2024 is influenced by earnings multiples derived from capital market valuations as well as information on the economic development of portfolio companies. It is becoming apparent that the earnings performance of individual portfolio companies will result in a significantly lower value contribution compared to the same quarter of the previous year. DBAG anticipates gross gains and losses on measurement and disposal for the third quarter of the current financial year 2023/2024 between 4 and 7 million euros, compared to 35.4 million euros in the third quarter of the 2022/2023 financial year.

This development allows us to further specify our guidance for net asset value (total assets minus total liabilities including provisions) for the 2023/2024 financial year. We assume that the net asset value as of 30 September 2024 will be in a range between 675 and 710 million euros, which corresponds to a range of 36.41 to 38.30 euros per DBAG share outstanding as of 30 June 2024 (i.e. taking into account the ongoing share buyback programme). In the forecast published in November 2023, a net asset value of between 675 and 790 million euros was expected. Full-year earnings from Fund Investment Services continue to be forecast in a range of 9 to 13 million euros.

DBAG is currently in the process of preparing its interim financial statements as at 30 June 2024, and will publish the corresponding quarterly statement on 8 August 2024.

The Board of Management

Frankfurt/Main, 17 July 2024

Reporting person: Roland Rapelius, Head of Corporate Communications & Investor Relations

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