Deutsche Beteiligungs AG (XSWX:DBAN)

Q2 2025 Deutsche Beteiligungs AG Earnings Call Transcript

Aug 7, 2025 / 10:59 AM GMT

Transcript

Key Points

Positve

Deutsche Beteiligungs AG (WBO:DBAN) reported a good deal flow in private markets, with people willing to transact at more attractive prices.
The company made a significant long-term minority investment in FinMatch, which is expected to yield positive results.
Significant progress was made in the private debt space, with EUR83 million invested over the last year, reaching an asset allocation of 12% in private debt.
The company's fund investment services continue to perform well, increasing management income by holding assets longer.
Deutsche Beteiligungs AG (WBO:DBAN) successfully reduced its cashback and is now fully invested, with a focus on special credit investments with short maturity periods.

Negative

The market environment remains challenging, particularly in the smaller midcap segment, leading to revisions of earnings.
Net asset value (NAV) per share declined due to shareholder distributions and earnings not compensating for these distributions.
The company had to update its forecast for the 2025 financial year due to a lack of robust visibility in terms of exits.
Operating performance was broadly underwhelming, with no growth and low operating performance in some areas.
The change in value of EUR20 million was on the lower end of expectations, and the company is working on improving this.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

DBANn.DE - Deutsche Beteiligungs AG
Q2 2025 Deutsche Beteiligungs AG Earnings Call
Aug 07, 2025 / NTS GMT

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Presentation
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Unidentified Speaker Deutsche Beteiligungs AG [1]
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Thanks and very warm welcome to the conference call on what was rather uneventful but also underwhelming quarter.

Jumping on page 3, we state that the market environment obviously remains challenging and given that the current earning season is well under way. I mean, obviously, you see that, especially in the smaller midcap segment, there are quite a lot of revisions of earnings for cars and Unfortunately, we were not an outlier in that regard. Nevertheless, we see a good deal flow in private markets.

People are willing to transact also at much more attractive prices than some years ago, and so we are also happy to report that we did a very exciting new long-term minority

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