Q3 2024 Deutsche Beteiligungs AG Earnings Call Transcript
Key Points
- Deutsche Beteiligungs AG (FRA:DBAN) achieved a successful exit with in-tech, realizing a money multiple of over 3 times in less than three years.
- The company completed six add-on acquisitions in Q3, demonstrating active portfolio management and growth strategy.
- A EUR100 million convertible bond was issued, providing capital to seize attractive investment opportunities in a favorable market environment.
- The company reported a 63% uplift in valuations on the book value for the sale of in-tech, indicating strong valuation practices.
- Deutsche Beteiligungs AG (FRA:DBAN) is confident in its position as a market leader and anticipates benefiting from industry consolidation.
- The year-to-date NAV growth of 4.2% is considered unsatisfactory by the management.
- The company narrowed its guidance to the lower end, reflecting cautious expectations for the remainder of the year.
- Operating performance in the first nine months was slightly negative, with a loss of EUR0.7 million.
- The introduction of a private market factor has temporarily hampered NAV growth, adding to volatility concerns.
- The company faces challenges in maintaining consistent performance amidst market volatility, impacting investor confidence.
Good morning. Thank you, operator, and good morning to the call participants. I'm Roland Rapelius, Head of Corporate Communications and Investor Relations, and it's my pleasure to welcome you this morning to the third quarter conference call.
I'm here with Tom Alzin, the Spokesman of the Board of Management; and Dr. Matthias Doll, who is Director Legal and Shareholder Relations. And without much ado, I now would like to hand over to Tom. Please go ahead, Tom.
Yes. Thank you, Roland. As you may see on the slide, we have 1 new face here with Matthias Doll, who is taking over from Roland Rapelius who has decided to leave the company. It's really with sadness that we see him go. He has been instrumental in raising capital for this company, be it via the share placement we did a couple of years ago and also in the placement of the convertible, which we just recently do, and we come to that later. In the meantime, Dr.
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