Edison issues report on Deutsche Beteiligungs (DBAN)

London, UK, 18 December 2024

Edison issues report on Deutsche Beteiligungs (DBAN)

Edison issues report on Deutsche Beteiligungs (FRA: DBAN).

Deutsche Beteiligungs (DBAG) reported an 8.5% NAV total return (TR) in FY24 (to end-September 2024), supported by positive movements in valuation multiples, which offset the negative impact from changes in earnings and the higher net debt of portfolio companies. DBAG’s portfolio remains affected by the subdued macroeconomic environment in Germany, although its continued portfolio shift away from more traditional industrial holdings likely provided a cushion. Following the convertible bond and promissory loan note issues earlier this year, along with several successful exits, DBAG’s strong balance sheet positions the company well to explore the many attractively priced investment opportunities that management sees in the current market environment. DBAG’s shares now trade at a 38% discount to the last reported NAV of its private markets investments, on top of which DBAG’s shares offer exposure to the company’s fund services business. Therefore, we consider the discount wide even considering the market headwinds.

Click here to read the full report.

All reports published by Edison are available to download free of charge from its website

www.edisongroup.com

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securities.

For more information, please contact Edison:

enquiries@edisongroup.com

Connect with Edison on:

LinkedIn www.linkedin.com/company/edison-group-/

X  www.x.com/edison_inv_res

YouTube www.youtube.com/edisonitv